Czech farmers are predicting a slight increase in the hop harvest this year. Hop production is set to go up by five to nine percent, reaching up to 5,800 tonnes. One of the factors that has contributed to the favourable outlook is the fact that the overall area of hop fields has expanded for the first time in 14 years. The traditional Czech crop is now being grown on 4,460 hectares of land.
Czech Railways has two years, writes daily Mladá fronta Dnes, to adapt long-term strategies to ensure continued profits and growth. Until now, the state-owned firm relied heavy on the sale of property as a financial buffer but that "well" will soon run dry at a time when debts at the firm are on a rise.
The state-owned postal firm Czech Post is seeking 1.7 billion crowns in state compensation for losses incurred through unprofitable services it is required to provide by law, the daily Hospodářské noviny reports. Part of the compensation should be covered with contributions from Czech Post’s competitors according to existing law. But they complain the sum is exaggerated, and say the payments would put their businesses at risk.
Friday saw major producers of spirits in the Czech Republic announce their half year results. While for many sales and profits have gone up, the general echo of the methanol scandal, during which 47 Czechs died of alcohol poisoning and the subsequent short-term prohibition two years ago, left marks that can still be felt. Czechs are wearier of buying hard alcohol and liquor producers have been forced to adapt to the change in demand.
Czech textiles firms have benefited significantly from the Czech National Bank’s intervention to weaken the country’s currency the crown last November. According to a report in Thursday’s edition of the financial daily Hospodářské noviny, manufacturers in the sector saw 12-percent year-on-year growth in the first half of 2014.
Up to 38 million crowns in incentives will be used in order to promote a direct air connection between Prague and China, Tomáš Neřold, spokesman for the Ministry of Transport told the Czech News Agency (Č TK) on Wednesday. The announcement came after a meeting between the ministers of transport from both of the respective countries and representatives of Czech Aeroholding, a state owned air transport group which includes Czech Airlines.
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