Czech Republic

Voters prepare to punish their ruling parties in European Parliament elections

bne IntelliNews May 22, 2019

Following domestic political scandals in several Central and Southeast European member states, many voters just want to give their ruling parties a kicking in this week's EU-wide vote.

MOL teams up with InoBat on hydrogen fuel cell development

bne IntelliNews May 20, 2019

The Hungarian company is pursuing alternative investments in line with its long-term strategy as it seeks to decrease dependence on its core business.

Czech energy company Sev.en to acquire Swiss Alpiq Generation for €7.2bn

Nelly Tomcikova in Prague May 20, 2019

Sev.en Energy won tender to buy the operator of CHP plants in Kladno a Zlin after it announced an ambitious programme of international expansion.

Czech economic growth slows on lower external demand and household consumption

bne IntelliNews May 16, 2019

The Czech economic growth slowed to 2.5% year-on-year in the first quarter of this year from 2.6% in the 4Q18, affected mostly by lower external demand and household consumption

Czech unemployment drops to a two decade low of 2.7% in April

bne IntelliNews May 13, 2019

Czech unemployment rate dropped to 2.7% in April from 3% in March, at its lowest level since June 1997, due to the continuing start of seasonal work, according to data by the Labour Office published on May 10.

Czech PMI falls to its lowest level since December 2012

bne IntelliNews May 9, 2019

The Czech IHS Manufacturing Purchasing Managers Index (PMI) dropped further to its lowest level since December 2012, to 46.6 in April from 47.3 in March, driven by a strong decline in client demand

Czech National Bank hikes its interest rates for the first time in 2019

bne IntelliNews May 9, 2019

The Czech National Bank (CNB) increased the two-week repo rate by 25 base points to 2% from 1.75%, the highest level since February 2009.

COMMENT: Chinese engagement in CESEE: paper dragons and false inevitabilities?

Gunter Deuber of Raiffeisen Research in Vienna, Marcus How of Vienneast in Vienna May 3, 2019

The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.

Poland leads CEE charge against “centralised” and “multi-speed” EU

Wojciech Kosc in Warsaw May 2, 2019

Warsaw wants the EU to devolve more powers to national governments and opposes deeper integration of some – mostly Western – member states in specific policy areas.

15 years on from 2004 wave of EU accessions, convergence but a patchy overall record for CEE countries

Clare Nuttall in Glasgow May 1, 2019

15 years after eight CEE states entered the EU, there have been significant economic gains, but in recent years this has been accompanied by a backsliding on democratic reforms.

Prague recorded the lowest unemployment rate of 1.3% again among EU regions

bne IntelliNews April 30, 2019

Czech capital Prague again posted the lowest unemployment rate in the European Union of 1.3% in 2018, followed by Czech South-West region, according to Eurostat data published on April 29.

Czech financial analytical office uncovered record number of fraudulent transactions in 2018

bne IntelliNews April 26, 2019

The Financial Analytical Authority (FAU) uncovered a record number of fraudulent transactions of CZK7.55bn in 2018. The volume of secured funds related to corruption, money laundering, tax fraud and terrorist financing recorded a rapid year-on-year i

COMMENT: CEE Fintech Atlas: Old narratives are changing, innovations may flow now from East to West

Gunter Deuber of Raiffeisen Research in Vienna April 25, 2019

After nearly three decades since the end of the socialist experiment many countries in Central and Eastern Europe (CEE) have made enormous progress, but they are still catching up to their western peers. But not in fintech.

Czech household confidence down for third consecutive month, at its lowest level since 2016

bne IntelliNews April 25, 2019

Confidence in Czech economy increased very slightly by 0.1 point month-on-month in April to 97.1 from 97.0 in March