News
EY: FinTech adoption rate has grown to 64% globally with 96% aware of at least one service
- China and India lead emerging markets with 87% adoption
- Netherlands, UK and Ireland lead developed economies, buoyed by open banking in Europe
- Global SME FinTech adoption at 25%, China leads with 61% followed by the US (23%)
FinTech adoption rates rose to an average of 64% this year according to EY Global FinTech Adoption Index 2019. Emerging markets are leading the way with both China and India at 87%. Close behind are Russia and South Africa, both with 82% adoption. Among developed markets, the Netherlands (73%), the UK (71%) and Ireland (71%) lead in adoption, reflecting in part the development of open banking in Europe.
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Eurostat: EU circularity rate: Czechia below average with 7.6%
According to Eurostat, in 2016, the circularity rate of the European Union (EU) was 11.7%. This means that 11.7% of material resources used in the EU came from recycled products and recovered materials, thus saving primary raw materials from being extracted. Compared with 2004, this share increased by 3.4 percentage points from 8.3%. This is primarily because the EU consumes less raw materials — such as construction materials and fossil fuels, while the amount of recycling only increases slightly.
AmCham suggests steps to achieve innovative economy in 2020 Letter on Priorities
The American Chamber of Commerce in the Czech Republic (AmCham) has suggested twelve steps that could be taken in 2020 that would help the Czech Republic become a top ten EU economy by 2025. Adjusted for the progress of the past two years and the government's new innovation strategy, the new Letter on Priorities sets four strategic directions: high-tech manufacturing, innovative cities, government policies that drive innovation, and government as an competitive advantage. For each strategic direction, the letter recommends steps that would align the country's key assets- people, technology, infrastructure, and government- to these strategic goals.
Braun: Judges ask for exact records of working hours, but usually it is nonsense
COMMENTARY FROM ARTHUR BRAUN | The Court of Justice of the European Union recently published a decision in proceedings on a preliminary issue, stating that EU member states must require employers to record all employee working hours (C-55/18). This case involved a suit filed by a Spanish union organization in the banking industry, not exactly the traditional players in unions fighting against exploitation of the working classes. This decision did not receive wide publicity in the Czech Republic, but in Germany and elsewhere in Europe it did.
Can the permitting nightmare end for developers in Prague?
The Czech Republic has one of the longest and most complicated building procedures in the world and is ranked 156 out of 190 countries observed by The World Bank. Fortunately for real estate developers, the situation is slowly changing. Erwin Hanslik MRICS, Partner and CEE Head of Real Estate at Taylor Wessing talked to us about the legal and regulatory challenges investors and developers need to face in the Czech Republic.
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
Advocacy Priorities for 2020-2022
People, Technology, Infrastructure, Cities, Government
2020 Actions Recommended in Areas:
1. Immigration.
2. Adult (post-graduate) Education and Training.
3. Programming as the Required Language.
4. Private Research Investment.
5. Housing Plan.
6. Establishing Policy Objectives for Research.
7. Establishing Databases for Tracking Public Policy Outcomes.
8. Public Procurement as an Innovation Tool.
9. A Government Competitiveness Scorecard.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
