Business | All stories

The Czech Republic has had a fair few embarrassing incidents episodes recently where politicians rub shoulders with top managers from state institutions and bodies.

Prague will soon get a new attraction. The Prague Public Transport Company will start using a Mercedes-Benz Capacity L bus, which is the longest in Europe, on a line connecting the city with Vaclav Havel International Airport on its north-western outskirts, daily Mladá fronta Dnes reports.

One of the Czech Republic’s oldest department stores, Kotva, which is located in downtown Prague, wants to focus more on Chinese clients, its management announced in a press release on Wednesday. The store has even acquired an official Chinese name: gao-te-wa.

A Czech cycle company has landed a prestige order for bikes from the European Parliament in Brussels. Twenty-five electric bikes will be heading in the Spring from Prague company Citybikes for use by some of the thousands of officials working at the parliament’s main offices in the Belgian capital.

Approving the national agriculture plan and fighting against soil erosion are among the priorities of the Ministry of Agriculture for this year, Agriculture Minister Marian Jurečka of the Christian Democratic Party has announced.

Netflix is a US multinational provider of on-demand Internet streaming media which many now Czechs had no doubt heard of – in no small part thanks to the successful original TV series House of Cards. Now, Czechs will be able to take advantage of the service at home.

Czech Internet search engine company Seznam is regarded as a local success story which has held off the competition of global giants such as Google.

The state budget in 2015 ended with a deficit of 62.8 billion crowns, which is 37.2 billion less than the approved deficit for the year, finance minister Andrej Babiš announced at a press conference on Tuesday. He added that it was the best budget result the country reached since 2008.

Ministry of Industry and Trade Jan Mládek sees Czech economic growth this year at 3.5 percent, that’s a slight drop from the 4.5 percent expected this year. One of the reasons for the slowdown will be diminished pumping of EU funds which probably contributed one percentage point to growth this year.

In line with a government proposal approved by Parliament late last year the country’s close to 3 million pensioners will be paid out a one-off bonus of 1,200 crowns in February to make up for the low valorization of pensions in 2016. Following lengthy disputes on the issue in the lower house, the government now says it wants to be able to increase pensions without Parliament’s consent in the future.