Business | All stories

Czech billionaire Tomáš Němec has expanded his ski-manufacturing business by acquiring a majority share in the Austrian company Kästle, the Czech News Agency reported on Tuesday.

The Czech Chamber of Commerce on Monday marked 25 years of existence. The organisation’s president, Vladimír Dlouhý, says its members have much to be pleased about – but says the state and the business community need to plan now for a future of increased automation.

Consolidation on the Czech publishing scene is proceeding apace following the announcement that one of the country’s biggest publishers is taking over one of the oldest companies still on the market.

Construction works on a section of the planned new “D” line of the Prague Metro system, leading from Pankrác to Depo Písnice, should cost 39.7 billion crowns, suggests a document discussed by Prague city’s municipal Transport Committee this week.

Czechs’ financial literacy improved since last year by only the very slightest of margins an annual survey commissioned by the Czech Banking Association has shown. According to the survey, they picked up 56 points out of a possible 100. The news isn’t all bad though: the number of Czechs setting aside savings has at least increased, Czech Radio confirmed.

Czech trade unions want to push through a shorter, 37.5-hour working week, and cut the present working hours by half an hour a day without lowering salaries, the daily Lidové noviny reported on Monday.

One of the Czech Republic’s biggest engineering groups appears to have been thrown a lifeline by one of the country’s main arms producers and sellers. Under the proposed rescue plan, Vítkovice Heavy Machinery, which employs around 1,000 mostly around Ostrava, will be heading into new hands.

The average wage in the Czech Republic increased by 8.0 percent in the last quarter of 2017 compared to the same period in the previous year, according to the data released by the Czech Statistical Office on Friday.

Trade unions at the Czech Republic’s biggest exporter Škoda Auto have dismissed a pay rise offer put forward by management. Workers’ groups described the offer of a 4.3 percent increase in their basic salaries as derisive and are holding out for a double-digit raise.

Foreign–based mother companies of some of the Czech Republic’s biggest firms last year claimed the second highest dividend yield from their local assets ever, according to calculations by the business daily E15.