Czech Republic

Czech financial group PPF records loss of €318mn for 1H22 due to exit from Russia

Albin Sybera December 7, 2022

In September the company announced it had completed the sale of Home Credit’s Russian branch and its subsidiaries to Russian-based investors as part of the “process of divesting all Russian assets”.

Global wage growth fails to beat inflation for the first time in 20 years

Statista December 6, 2022

The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.

Nerudova gains on Pavel and Babis in Czech presidential race

Albin Sybera December 5, 2022

Former university rector has tweeted that she does not wish to discuss her rivals' (controversial) pasts, "but our future".

Foreign investment has transformed Eastern Europe, says wiiw report

Robert Anderson in Prague December 2, 2022

Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.

bneGREEN: Energy efficiency investment turns the corner in 2022, but more is needed

Richard Lockhart in Edinburgh December 2, 2022

Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.

bneGREEN: EU energy ministers agree to speed up permitting and deployment of renewables temporarily

Roberta Harrington in London November 29, 2022

A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.

Czech presidential candidates reduced to nine after interior minister review

bne IntelliNews November 28, 2022

Twelve out of the 21 candidates who registered for the presidential election by the November 8 deadline were dismissed after the interior ministry reviewed the registrations, leaving all the businessmen heavyweights out of the race.

PPF agrees to sell two Home Credit operations in Southeast Asia

Albin Sybera, Robert Anderson in Prague November 25, 2022

Japan's MUFG to pay $615mn for Philippines and Indonesian businesses of PPF's consumer finance brand.

NGOs attack Czech cabinet proposal to give whistleblowers weak protection

Albin Sybera November 25, 2022

Government's belated proposal leaves out protection for anonymous whistleblowing or for whistleblowing of non-criminal transgressions.

V4 leaders meet as EC poised to take unprecedented action towards Hungary

Albin Sybera November 25, 2022

Hungarian premier Viktor Orban reiterated Hungary’s opposition to the EU’s efforts to raise cash for Ukraine on financial markets, and says its parliament will ratify Sweden and Finland's Nato membership in 'a month and something'.

bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023

Nadège Tillier is Head of Corporates Sector Strategy at ING, Maureen Schuller is head of financials sector strategy at ING, Benjamin Schroeder is a Senior Rates Strategist at ING November 23, 2022

Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.

Ukraine faces one of worst declines in GDP from a war, says EBRD

Robert Anderson in London November 22, 2022

The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.

Czech premier to attend V4 meeting despite boycott of Hungary by parliamentary leaders

Albin Sybera November 21, 2022

Contrasting stances demonstrate differences within Czechia on how to respond to Budapest's collaboration with Moscow.

Private equity poised for growth surge in CEE despite macro and geopolitical crises

Clare Nuttall in Glasgow November 16, 2022

Fund managers surveyed by Bain & Company point to region’s strong macroeconomic fundamentals and catch-up potential.

Europe scrambles in response to reported Russian military strike on Poland

Ben Aris in Berlin November 15, 2022

Instant storm of reaction after two Russian missiles were reported to have gone off course over Ukraine and hit a Polish village, killing two people. It was later reported that they were in fact Ukrainian missiles.

NEMETHY: The cure for high prices is – high prices

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors November 15, 2022

Prices are important economic signals. High prices – whether for energy foodstuffs, etc., are signals to the world to (a) supply more; (b) substitute; or (c) conserve. But how do you bring inflation down?

bneGREEN: REPowerEU rules still leave loopholes for gas investment

Richard Lockhart in Edinburgh November 11, 2022

The European Parliament has approved temporary emergency regulations to accelerate the deployment of renewable energy across the EU, but gas investment is still allowed

CONFERENCE CALL: Central Europe's populists follow the Putin playbook to control the media

Robert Anderson in Prague November 11, 2022

Ruling parties are turning state broadcasters into propaganda mouthpieces, spreading disinformation, and using friendly private or state-owned companies to build sycophantic media empires.

Czech windfall tax approved for 2023

Albin Sybera in Prague November 7, 2022

Government counts on €3.5bn to be collected from the tax next year, to pay for measures to help citizens and businesses wrestling with the cost of living crisis.

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