Business | All stories

Companies in the Czech Republic are increasingly interested in employing prisoners, Hospodářské noviny reported on Monday. According to data from the country’s prisons authority, around 8,800 of a total prison population of 20,000 have jobs.

The Czech state-controlled energy giant ČEZ is set to develop small modular nuclear reactors in cooperation with the U.S. firm NuScale Power. On Thursday, the two companies signed a memorandum of understanding.

Unscrupulous business continue to engage in dual pricing and other illegal practices, especially in areas heavily visited by foreign tourists, according to the Czech Trade Inspection (ČOI), a consumer protection agency under the jurisdiction of the Ministry of Industry and Trade.

The level of overall trust in the Czech economy has fallen to a five year low according to the results of a monthly industry survey conducted by the Czech Statistical Office and published on Tuesday. Among consumers and entrepreneurs year-on-year trust levels fell, while among industry and construction representatives trust levels have remained the same for the past four months.

The Baroque Savarin Palace in the centre of Prague is set to be revamped into a new public space with shops, restaurants, offices and a Time Out Market. The Crestyl Group, one of the country’s leading developers, this week unveiled its plans for a complete overhaul of the historic site.

The Prague city authorities announced an important step in easing the traffic situation in the city, the website e15 reported on Monday. Prague City Hall wants to interconnect all of its 660 traffic-light intersections to improve the traffic flow and make it more effective.

Damages to the grain harvest caused by the widespread infestation of voles have reached half a billion crowns so far, the Czech Republic’s Agricultural Association announced at a press conference on Friday, adding that the figure is likely to grow even further.

The financial assets in industrial and emerging countries declined simultaneously for the first time last year, suggests the annual Allianz Global Wealth Report, released this week. In spite of this trend, Czech households saw an increase by 4.4 percent on the previous year.

More than a half of Czech children, some 54 percent, have their own bank account. A further 41 percent say that they want to have it, while just 5 percent do not, according to a survey conducted by Bank Creditas. More than two fifths see their mobile phones as the main access point for using their bank account.

Prime Minister Andrej Babiš’ cabinet approved the 2020 draft budget on Monday, just hours after trade union leaders and employers expressed support for it. The compromise proposal which respects a 40 billion crown deficit ceiling should see more money spent on pensions, social services, teachers’ wages, parental benefits as well as research, sport and investments.