Czech Republic
TNT ammunition depot in Czechia explodes
The cause of the explosion is currently unclear, but police said a “technical issue” is “the most likely cause”.
COMMENT: Is the EU going to fall apart?
Is the EU about to break apart under the stress of taking over the full weight of supporting Ukraine, the need to rearm and the hundreds of billions that must be invested if it is to become competitive again?
Several EU countries back push to fund Prague-based RFE/RL in response to Trump axeing it
Member states want EU to fund Radio Free Europe/Radio Liberty after US President Donald Trump issued an executive order aimed at dismantling the Agency for Global Media.
EU to soften gas storage rules to avoid price spikes
EU member states are considering softening the bloc’s binding gas storage targets in order to avoid sending gas prices soaring again ahead of what is anticipated to be a difficult year.
EU countries weigh costs of planned military buildup
What we know so far about EU member states’ plans to hike defence spending in face of "existential challenge" from Russia, and how this will be financed.
EU leaders back defence spending boost, pledge support for Ukraine
EU leaders unanimously agree to ramp up defence spending at emergency summit, but Hungary refuses to endorse statement on support for Ukraine.
EU Council president says leaders “here to take decisions” as he arrives at Brussels summit
EU leaders to discuss support for Ukraine and strengthening of Europe’s defence capabilities in response to the sudden change in the geopolitical situation.
Fears Russia-friendly EU members to undermine ‘five to midnight’ summit
Hungarian PM Viktor Orban indicated ahead of the crucial summit that he might veto additional support for Ukraine.
Turkey invited to top table as Europe scrambles to rearm
With European powers facing sobering reality of possible future with little or no US defence support, attention has turned to Ankara's big defence manufacturing capacity and 800,000-strong army.
OPINION: The EU must bet on nuclear
For Central and Eastern Europe, over reliance on renewable energy for the green transition will compound the already significant challenge of shifting away from a predominantly coal and natural gas based energy network.
Europe will need Turkey in world with less or no Nato says foreign minister
Ankara has second largest land forces in military bloc. Turkish officials leverage the point in effort at obtaining long-sought EU membership.
EBRD lowers 2025 forecasts citing subdued global growth and trade fragmentation
Weaker external demand and potential impact of Trump tariffs weigh on Emerging Europe, Central Asia and Semed regions, with growth now projected at 3.2%.
Relief in Emerging Europe at AfD’s election defeat, but concern over party's gains
Mainstream politicians across Central and Southeast Europe have expressed relief at the outcome of Germany's general election, which saw the far-right Alternative for Germany make gains but ultimately fall short of securing victory.
Iraqi PM visits Czechia amid arms and security diversification push
Baghdad Prime Minister Mohammed Shia Al-Sudani arrived in Prague on February 13 for official talks focused on military deals.
COMMENT: Upside inflation risks build across CEE
Inflationary pressures across Central and Eastern Europe (CEE) are intensifying, with higher-than-expected consumer price index (CPI) data prompting a shift in monetary policy expectations across the region, says Capital Economics.
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Czech January inflation confirmed to have slowed down to 2.8% y/y
Czech consumer price indices increased by 2.8% year on year and by 1.3% month on month after the Czech Statistical Office confirmed its previous y/y inflation growth estimate.
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Czech unemployment rises to 4.3% in January
Unemployment in Czechia rose to 4.3% in January, a 0.2 percentage point increase from December’s 4.1%. Altogether, 320,516 job applicants were registered with the country’s Labour Office in the traditionally high unemployment month of the year.
Europe's economic woes made worse by looming trade war with US, says Goldman Sachs
Cyclical industries across Europe are in danger from the economic slowdown sweeping Europe, Goldman Sachs warned in a note on February 4. They were already reeling from years of a polycrisis, but now President Trump is threatening a trade war.
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Czech industry deepens its slump to 1.4% in 2024
Czechia’s industrial output fell by 1.4% in 2024, in a yet deeper slump than the 0.8% registered in 2023. In December, the industry fell by 3% year on year and grew by 1.6% month on month amid a slumping car industry.
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Czech National Bank returns to lowering of interest rates, by 0.25bp to 3.75%
CNB also projects the Czech economy to grow by 2% in its new macroeconomic prognosis, down from the 2.8% projected in November, and expects to cut rates further before these stabilise in mid-year.