Czech Republic

Food for the charity

23 November 2014

On Saturday 22nd November the National Collection of Food took place all over the Czech Republic. This event is being organized by the corporate social responsibility platform With Business for Society in cooperation with Czech Federation of Food Banks and Salvation Army in order to highlight the fact that 15.4 % of the Czech population is endangered by poverty and social exclusion and also that the food that is shortly before its expiration is rather destroyed than donated to the charity by the supermarkets due to the 15 % VAT. Czech Ministry of Finance already promised to address this matter and reduce the tax on food donated for charitable purposes to zero or near zero value. During this year people donated more than 173 tons of food which is three times more than in the previous year when the event was organized for the first time. People could donate food in stores of Tesco, Penny Market, Kaufland, Albert, Globus, dm and online at damejidlo.cz.

For more click here, here, here and here.

Slovakia to buy Czech weapons

21 November 2014

Slovak journal Sme announced that Slovakia is planning to buy Czech pistols and assault rifles manufactured by the ČZ Uherský Brod for its armed forces. The trade is to encompass Czech assault rifles CZ 805 Bren and pistols CZ-75 Phantom in the amount of 600 pieces each in the total amount of 1.6 million EUR that is approximately 44 million CZK. Slovak Minister of Defense said to this that for the Slovak army the decisive factor was the unification of the armament with Czech armed forces with which the Slovakia is created joint units. This also means that ČZ could easily become the main supplier of armament for Slovak armed forces as their number is only about 14 000 men. Thus for Slovakia it would be too costly to buy armament from two separate suppliers with the exception of the Special Forces only.

For more click here.

Japanese entrepreneurs discussed investing in the Czech Republic

20 November 2014

CzechInvest branch in Japan hosted last week seminars for (possible) Japan investors to the Czech Republic in Ósaka and in Tokyo. The debate was mainly on the quality of workforce, its availability and resilience. Additionally the investors discussed investor environment in the Czech Republic and Czech legal framework for incentives or potential business risks and quality of Czech suppliers along with the cultural differences. In subsequent panel discussion successful Japanese investors already investing in the Czech Republic presented their experiences. Among the positive factors speaking for the Czech Republic were its perfect geographic location, highly qualified workforce, low production costs and positive Czech attitude towards Japanese.

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Czech Post wants to have most of its post offices as franchises

20 November 2014

Director of Czech Post Martin Elkán announced that the Czech Post will turn 200 of its offices to franchises with the outlook of majority of its offices being run as franchises in future years. This comes after the status of Czech Post was clarified and future strategy was set with greater use of franchise model as only 2100 offices were declared necessary by the Czech Telecommunication Office and Minister of Interior Milan Chovanec wants to keep all its present 3200 post offices. This model is common abroad for example in United Kingdom, Germany or Austria but in the Czech Republic it is quite new Czech Post has currently only 137 post offices being franchise. This is to change as Czech post would introduce better conditions to encourage the private partners. Among other tools to boost its profits Czech Post is also still considering selling medicaments as soon as it finds a proper partner to do so.

For more click here and here.

Czech Republic signed Memorandum on tourism with China

16 November 2014

On Saturday 15th November Czech First Deputy Minister of Regional Development Klára Dostálová signed with her Chinese counterpart LiJinzhao of CNTA Memorandum of Mutual Understanding in the Field of Tourism. Czech Republic was first of the 16+1 countries group to do so. The aim of the memorandum is to establish further commercial and cultural ties develop long-term cooperation of both countries. One of the tools are for example establishing direct flights or easing the process for granting visa. The metting happened within the framework of CITM 2014, international tourism fair, where Ms Dostálová represented the Czech Republic during the opening ceremony and presented Czech Republic as the touristic destination to the audience of main Chinese tour operators and Chinese media.

For more click here.

Minister of Commerce Jan Mládek visited Japan

14 November 2014

In the days of 10th-14th November Minister of Commerce Jan Mládek along with Deputy and Member of Organizational Committee of the Chamber of Deputies Tomio Okamura and other representatives and businessmen made a working visit to Japan. During his visit to Japan Minister Mládek signed two important memoranda after meeting with Japanese Minister of Commerce Yoichi Miyazawa. First memorandum was related to mutual understanding in cooperation in the nuclear energetics and second one was related to the cooperation between CzechInvest and its Japanese counterpart JETRO (Japan External Trade Orgaization). During his stay Minister Mládek also met with Osaka Governor Ichiro Matsui and with representatives of many entreprises important for the Czech Republic’s foreign trade such as Toyota Motor Company, Mitsui or Toshiba and he has also visited Tokyo Josai University.

For more click here and here.

Czech economy development in the 3.Q

14 November 2014

Czech GDP grew in comparison to the previous quarter by 0.3 % which is by 2.3 % in year-on-year comparison. This is slightly behind the analysts’ expectations that were at the level of 2.5 % not being immune to the weakness of its trade partners according to the UniCredit Bank analyst Pavel Sobíšek. The positive growth was influenced mainly by manufacturing industry mostly by vehicles, chemicals and chemical products. The Czech Republic is still among European top performers along with Germany with 0.1 %, France with 0.3 % and Slovakia with 0.6 % growth in comparison to the previous quarter. The inflation rate in the Czech Republic remained the same at 0.7 % with the consumer prices growing by 0.2 % month-on-month which is the fastest growth since this year’s June. Also the unemployment rate in the Czech republic is steadily decreasing being at 7.1 % now that is 0.2 % less than in September. The unemployment is highest in Ústecký and Moravskoslezský region with 10.5 % and 9.5 % and lowest in Prague with 5.1 %.

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Government decided to cancel second pension pillar

12 November 2014

On its meeting on 12th November Czech Government agreed on cancelling the second pension pillar. From the governmental point of view it is fulfillment of its program goal as it would stop the extraction of funds from the first continuous pension pillar. The future goal of the Ministry of Labour and Social Affairs is to consolidate the pension system focusing on first pillar. The second pension pillar will be cancelled as of 1st January 2016. People will have the opportunity to either withdraw their money from the second pension pillar or to transfer them to the first pension pillar. This procedure was chosen as it comes from the results of Professional Committee for Pension System Reform. Government on its meeting also ruled that the Czech Post would remain state company as it was mentioned before.

For more click here and here.

New trends in tourism

07 November 2014

According to the Survey of tourism Institute the generation of so called “baby boomers” is gradually playing more significant role in demand for tourism services as they now belong to the group of 60+ tourists. These tourists’ demands rely more on quality of services rather than on excitement during their travels. They usually tned to be less satisfied and demand more value for their money. Nowadays every fourth European and every fifth American is 60+. Although these tourists tend to travel more within their home country, they tend to spend more than 4 days on travels and spend approx. 360 EUR during each journey. Europe is also popular destination for American seniors with the respect to its clean environment, wide range of cultural events and its rich history. As for the tourism in the Czech Republic for third quarter of the year 2014 in general the number of tourists grew by 4.2 % to 2.6 million according to the Czech Statistical Office. Also the number of night grew in year-on-year comparison by 1.7 % and exceeded 7 million nights. As for the structure the amount of Chinese tourists grew by 22 %, of South Korean by 20 % and on the contrary the amount of Ukrainian and Russian tourists fell by 18 % and 9 % respectively. Director General of the CzechTourism Agency said that the decrease in number of Russian tourists is not as bad as expected being influenced by CzechTourism marketing activities at the Russian market.

For more click here and here.

Czech economy September results

06 November 2014

After week economic results in August where the growth of the Czech Economy fell form the +8.6 % to -5.2 % the industry and Czech economy as a whole returned to its tendency of economic growth with 8.3 %. This short-term anomaly was according to the professionals and analysts caused by the summer holidays and subsequent gap in production that went to normal when factories started producing again at 100 %. We can clearly see it as the automotive industry attributed to it the most with 11.7 %. Also the double digit growth of energetic investments with 15 % according to the Deputy Minister of Industry and Commerce Eduard Muřický proved that the Czech economy is resistant to the unfavorable European economic development. Also the Home Credit analyst Michal Kozub pointed out that the trend of Czech economy’s driving force is shifting from external demand to domestic demand and the economy is standing more on its own feet. Also the rate of foreign trade increased with export increasing by 16 % and import by 13.9 %. Also trade balance ended active with 19.3 bn CZK which is 8.2 bn CZK higher year-on-year.

For more click here, here, here, here and here.

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