Business News | All stories

In Business News: the European Commission warns that the aging population will have a considerable impact on Czech GDP growth; the anti-monopoly office hands down the highest ever fine to a state body, after the Labour Ministry awards a contract without a tender; Czech mortgage and home-building savings loans increase ten times in seven years; sales of second-hand cars rise by over 20 percent; and the diplomats may be at loggerheads but trade between the Czech Republic and Cuba rises considerably.

Prague court dismisses CSOB's complaint against Japanese bank Nomura. Wireless internet in Prague awaits EU decision. Komercni banka's owner to expand into Slovakia. Czech market attracts more foreigners. Prague 13th most favorable European location for business.

Skoda Joyster makes its first appearance. High-end hotel business booms in Czech Republic. Orco buys office block in Prague. Telefonica O2 complaint rejected by Brno court. 2007 state budget drafted.

In business news this week: prime minister Mirek Topolanek rules out euro adoption by 2010, plans to sell off Prague Airport, the interior ministry says it wants a strategic partner for the Czech postal service, a consultancy firm predicts a rise in Czech bankruptcies, Mittal Steel Ostrava announces 3,500 reduncancies, Microsoft Czech Republic pledges to double sales, and Lego opens a new distribution centre on the outskirts of Prague.

In this week's Business News: a senior CNB official says next year's budget will be the worst and most dangerous in years; the Czech Republic faces a huge payout to a Japanese bank after losing an arbitration appeal: spending on employment policy in this country is among the lowest in the EU; a power industry figure calls for a quick decision on the building of a new nuclear power station; and the country's biggest lottery and betting company is 50 on Friday.

In Business News this week: the foreign trade gap in July is higher than analysts had expected; the Czech Republic falls eight places to 45th in the rankings in the annual Economic Freedom of the World report; the future of digital television in the Czech Republic is uncertain, after a court cancels the award of digital TV broadcasting licences to six channels; Skoda creates a rugged, off-road version of its popular Octavia model, the Octavia Scout; and there are three Czechs among the 100 wealthiest people in the former Eastern Bloc.

In Business News: average monthly wages grow by 6.9 percent - 3.9 percent in real terms; the government approves a steep rise in excise duty on tobacco products; tens of thousands of Ukrainian workers are taking the opportunity to legalise their status and escape the influence of criminal middlemen, says the country's ambassador; sales of downloads slow a continuing fall in overall music sales; the BBC changes its licence and gets to stay on the Czech airwaves; and Eurotel is now operating under the name O2.

Komercni Banka clients hit by on-line thieves. Czech-Chinese business relations grow. Lithuanian-based bank opens office in Czech Republic. Mountfield records growing sales. Czech breweries increase production.

In Business News: the public finance gap will again exceed euro adoption criteria next year - the outgoing finance minister says that will not impact plans to adopt the currency in 2010; leasing offices and commercial spaces is more profitable in Prague than almost every other capital in Europe; the Czech crown reaches an all-time high against the dollar; and the country is experiencing a boom in the construction of wind power stations.

In Business News this week: the Czech crown reaches a record high against the Euro; the Euro is accepted by half the country's chain stores; RWE Transgas is hit by the biggest fine ever levied by the Czech anti-monopoly authority; home starts grow by 14.2 percent; the world's biggest glass maker is opening a new plant in Teplice; and a family-owned car maker unveils its new model.