Czech carmaker Škoda Auto, which belongs to Volkswagen AG, says 1.2 million of its vehicles were equipped with the TDI engine that manipulated emissions data in the years between 2009 and 2013. Škoda Auto spokesman Jozef Baláž told Czech Television on Monday that Volkswagen would repair all affected models and fully cover the cost. He stressed that all the vehicles were perfectly safe and functional.
The Czech National Bank has been forced to bring out its heavy weapon, in the form of currency interventions, in the last months to keep the crown below its ceiling. But lower inflationary pressure than expected now means that the speculators who bought up the currency on the hope of quick gains now appear to be quitting their crown positions. That means the pressure could be off the crown and the bank for the forseeable future.
The Třinecké železárny steelworks has won a lucrative contract worth 15 billion crowns for a project of railway route construction in Azerbaijan, the company’s CEO Jan Czudek revealed on Wednesday after a visit by the Czech head-of-state Miloš Zeman. The president reportedly helped seal the deal during a recent visit to the former Soviet country.
Azerbaijan is one of around two dozen countries of ‘interest’ where the Czech Republic believes it should make an effort to boost its export performance. Head of state Miloš Zeman prioritized that goal with a recently concluded official visit but oil prices will probably have a substantial impact on how many contracts will result.