Business | All stories

Falling electricity prices and more outages from nuclear plants was the rather sombre takeaway from Czech electricity producer ČEZ’s half year results on Tuesday.

Solar power proved a major and expensive turnoff for the Czech state and many Czechs after a misguided and rigid set of incentives were introduced almost a decade ago that have since cost the country billions of crowns in support payments. But a solar revival now looks like it is picking up pace based on households and not on so-called solar barons.

For quite a long time now the question has been posed when will the Czech consumer boom show signs that it is losing its legs. No time soon appears to be the reply from the latest set of retail sales figures out from June.

The Ministry of Agriculture wants Czech farmers to put something by for a dry day instead of just relying on the state to compensate them whenever there is a drought. Though the government would initially be the biggest contributor to the drought fund, farmers have had a mixed reaction to the scheme, Hospodářské noviny reported on Thursday.

Enjoyment of the Czech speciality Olomoucké tvarůźky (also known as syrečky) – the pungent soft yellow cheese made in Olomouc is probably best described as an acquired taste. Children would describe the odour as akin to old socks forgotten in the laundry basket, although many adults enjoy a number of specialities made from the product. Even so, who would have bet that an ice cream made from the cheese would be a hit?

The Summer Olympic Games in Rio kick off this coming Friday and, Czech Radio reports, for many Czechs the Games – with the motto of Stronger, Faster, Higher – will represent more than the Olympic spirit but a chance to bet, and with a little luck, turn a profit. According to the broadcaster, citing bookmakers, during the course of the games Czechs are likely to bet hundreds of millions of crowns.

A protectionist measure or basic justice for workers. Those are the basic dividing lines over European Commission plans to draw up more stringent rules on so-called “posted workers” which are dividing states along old and new member fault lines with the Czech Republic firmly in the latter camp.

A newly-established Czech firm is trying to bring hemp back into the Czech textile business. It produces T-shirts, socks, gloves and even sneakers out of hemp and is currently aiming to expand its line to hemp jeans.

The Czech cabinet has approved an investment deal with GE Aviation to build a CZK 9.5 billion factory to produce aeroplane engines in the Czech Republic. More than 500 jobs should be created at the plant near Prague, which is expected to begin production in 2022.

The recent failed coup attempt in Turkey could cost the Czech Republic dear. A loan of CZK 12 billion from the Czech Export Bank linked to a power plant in the county is in danger following the arrest of executives at the company that commissioned it, Hospodářské noviny reported on Wednesday.