Business | All stories

All eyes were on the Czech National Bank board on September 27 – though with most spectators expecting more words and not action.

The Czech Republic’s biggest energy company and one of the few major firms still in state hands, ČEZ, could be facing a structural earthquake.

Volkswagen, the parent company of Czech car producer Škoda Auto, has one major trump up its sleeve – its operations in several countries – including the Czech Republic, Spain, Belgium, and Slovakia as well as Germany – means that it can shuffle its production capacity between them when needed.

Workers at Czech carmaker Škoda Auto are set to push for double-digit pay rises. But just 10 percent would be “embarrassing”, says a union leader.

The Office for the Protection of Competition has canceled a tender for the modernization of part of railway infrastructure in Prague for 3.5 billion crowns on the grounds that the SŽDC, the body which oversees railway infrastructure, breached the law on public tenders. The decision, which is binding, was published on the antimonopoly office's website.

Teens in the Czech Republic get, on average, almost 700 crowns from their parents per month, according to a study focusing on financial literacy conducted by ČSOB bank. According to the survey, for around 12 percent, those funds are not enough. Financial literacy has been a compulsory subject in the classroom for four years.

The Czech Republic’s national record on consumer protection has not been outstanding with scandals often erupting about sharp practices by salesmen and companies. But ministries on Monday won support for moves to clarify and strengthen consumer rights.

Czech and Moravian trade unions have said they will demand an 8 to 10 percent wage hike in negotiations with employers, based on the country’s healthy growth and wage rises in the public sector. Employers have dismissed the demand as unrealistic, and are refusing an increase across the board.

Pay growth has been faster in the public than private sector and unions are now turning to securing further increases for workers in the latter area.

According to Czech Radio, warehouse workers are in short supply in the Czech Republic and more are needed monthly, as newer and newer logistics centres go up.