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A new study by KPMG, based on data from 2014, reveals cigarettes in the Czech Republic are among the cheapest in Europe. While Czechs, on average, pay 75 crowns for a pack, in Norway, smokers more than three times as much.

Although 94 percent of Czechs consider themselves to be financially responsible, many still make painful mistakes in managing their personal finances. According to data from the Labour and Social Affairs Ministry many graduates who are unable to find jobs take out loans and set up small businesses, only to see them go bankrupt in a relatively short time. The age of people who file for insolvency has dropped from an average 35 to 28 years.

The Czech Republic has the fastest expanding economy in Europe, with a freshly issued first estimate putting year-on-year growth in the second quarter at 4.4 percent.

Slovakia appears to have won the beauty contest to be the site for a new factory for luxury car maker Jaguar Land Rover. Poland looks like it was in second place with the Czech Republic in third. Details of the full deal and incentives could make it clear whether the Czech bid suffered from lower permitted aid ceilings than both Slovakia and Poland.

Czech engineering group Vítkovice has reportedly won a major order for building a new coal-fired power plant on the Pacific island of New Caledonia. The order could open up other possibilities in this previously not very promising part of the world for the Ostrava-based company.

The soft drink company Kofola this week opened its first brand restaurant in the Czech capital, NaGrilu. As the name implies, the venues will offer dishes off the grill, as well as beverages by the company as well as fresh fruit and vegetable juice from UGO and Mangaloo. While it offers fast food, it will apparently be with a difference: an emphasis on healthy and fresh ingredients.

Half year profit at ČEZ lower as electricity prices continue to slide but forward sales see some firming. The Czech power company says it is looking intently at Vattenfall’s power assets in Germany and preparing for new nuclear plants in the Czech Republic.

Czech company Uranium Industry is pushing to become a major player in uranium mining in Mongolia through its own research and mining projects and a pending US 200 million dollar buy-out of one of its Canadian rivals on the ground.

Moderate growth, falling unemployment, sharply rising wages in the private sector, and a recovery of inflation based largely on wage settlement are the picture for the Czech Republic outlined by the central banks latest update of its economic forecast.

Countries across Europe are facing an imminent lack of teachers and unless they take action they may soon face a serious problem, according to a 2015 report released by the European Commission. The Czech Republic is on the list and the commission has strongly advised taking coordinated measures to recruit new teaching staff.