The Czech Republic could face trade sanctions from Saudi Arabia over anti-Islamic remarks by President Miloš Zeman, the Czech foreign minister says. Mr Zeman’s comments, linking terrorism to “Islamic ideology” were also condemned by the Organization of Islamic Cooperation but its demands for an apology have been rejected by the Czech head of state.
The golden-era of the state-owned Czech power giant ČEZ appears to be over. With growing uncertainty on European energy markets and problems on the home front, the company is seeking ways to cut costs and optimize investments. According to the internet business news site ihned.cz the planned austerity measures will include layoffs and significant expenditure cuts at company headquarters.
Foreign companies are increasingly taking their profits out of the Czech Republic, with the country’s figures in this respect considerably worse than those of neighbouring states. Last year over CZK 300 billion of profits left the country, twice the figure seen 10 years ago, the business daily Hospodářské noviny reported on Wednesday.
With temperatures in the 30s more people than ever are reaching for a frothy pint of the golden brew to quench their thirst. And, after years of strictly conservative tastes, many Czechs are now ready to trade their Pilsner or Budvar for a new experience – a craft beer from one of the country’s mini breweries.
The volume of Czech public tenders may have been decreasing in recent years but the workload they are create for the state competition watchdog is rocketing. The Office for the Protection of Competition would now like to see some changes in the law which could reduce some of the burden and allow it to wrap up cases quicker.
Car maker Skoda Auto is about to launch a new service on the Czech market– a long term operation leasing scheme for private individuals. At the outset the service will be targeted at well-off clients who are used to trading in their vehicle for a new model every few years and who do not want the bother of dealing with regular servicing and insurance.
In the telecoms sector, the Czech Republic has not looked like a model market as far as giving the customer a better deal. But there are signs that the squeeze is being put on some of the big operators on the market and they are being forced to make changes. T-Mobile has just wrapped up its latest step and its peers are likely to follow suit.
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