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Moody’s has raised the Czech Republic’s credit rating by one level. It cited the country’s strong budget performance and low debt as the main reasons for its first upgrade since 2002.

US electric car maker Tesla has opened its first showroom in the Czech Republic. Its official dealership is in Prague’s Vysočany district, where Tesla already operates a service centre. Visitors to the showroom can try all Tesla models, including Model S and X, as well as the most affordable Model 3, which sells for 1.2 million crowns.

As tributes to the late Czech singer Karel Gott pour in from at home and abroad following news of his death on Wednesday, the Kodl Art Gallery in Prague has announced it is putting one of the singer’s paintings up for action. Although Karel Gott was an amateur, self-taught painter interest in it is expected to be huge.

Petr Kellner, owner of investment group PPF, remains the richest Czech, according to an annual rich list published by Forbes on Wednesday. The market value of his assets is estimated at 350 million US dollars.

Tax breaks for married people who don’t have jobs but aren’t looking after anybody at home should be discontinued, says the minister of labour and social affairs, Jana Maláčová of the Social Democrats. The change would affect 76,000 people, the news site novinky.cz reported.

Companies in the Czech Republic are increasingly interested in employing prisoners, Hospodářské noviny reported on Monday. According to data from the country’s prisons authority, around 8,800 of a total prison population of 20,000 have jobs.

The Czech state-controlled energy giant ČEZ is set to develop small modular nuclear reactors in cooperation with the U.S. firm NuScale Power. On Thursday, the two companies signed a memorandum of understanding.

Unscrupulous business continue to engage in dual pricing and other illegal practices, especially in areas heavily visited by foreign tourists, according to the Czech Trade Inspection (ČOI), a consumer protection agency under the jurisdiction of the Ministry of Industry and Trade.

The level of overall trust in the Czech economy has fallen to a five year low according to the results of a monthly industry survey conducted by the Czech Statistical Office and published on Tuesday. Among consumers and entrepreneurs year-on-year trust levels fell, while among industry and construction representatives trust levels have remained the same for the past four months.

The Baroque Savarin Palace in the centre of Prague is set to be revamped into a new public space with shops, restaurants, offices and a Time Out Market. The Crestyl Group, one of the country’s leading developers, this week unveiled its plans for a complete overhaul of the historic site.