The Czech Republic is preparing for a fundamental shift in its energy policy, Hospodářské noviny reported on Tuesday. Quoting the latest version of the official long-term state energy plan, the business daily says the country is set to make a switch from being a state that exports power to one that imports it.
The average age of dollar millionaires in the Czech Republic is 51 and the country’s affluent regard buying companies as the most attractive form of investment, according to the latest annual Wealth Report produced by the financial institution J+T Banka and quoted in Thursday’s edition of Hospodářské noviny.
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.
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