In Business News: Morgan Stanley is planning to invest around a billion US dollars in the Czech Republic; the Czech Republic is near the bottom of the EU charts in terms of number of wind power stations; excessive bureaucracy is costing Czech companies billions, says a business leader; the lottery and betting market grew significantly last year; and a Czech company is playing a part in the construction of the world's tallest building.
After days of speculation, it's been signed and sealed - a contract that should secure the biggest single foreign investment in the Czech Republic since the fall of communism. Czech government officials on Thursday signed a contract with the South Korean car maker Hyundai on the construction of a major car plant in the eastern part of the Czech Republic. But, behind the smiles and handshakes, there was an air of uncertainty. The absence of Hyundai's chairman Chung Mong Koo - indicted on corruption charges - has evoked speculation as to whether
Czech foreign trade: surplus of 9 billion crowns in March. Government approves Hyundai investment agreement. Skodaexport almost certain to land biggest foreign contract in the country's history. Poll: Number of Czechs in favour of euro on the decline. Czech crown reaches new record against euro. Ever more singles applying for mortgage.
Two international trade fairs opened at the Exhibition Centre in Moravia's capital, Brno, on Tuesday. The Urbis Invest - a fair of investments, finance, real estate, and technologies for towns and communities as well as the Building trade fair will run until April 29. Some 1,350 exhibitors from 24 countries are hoping to attract around 100,000 visitors.
Czech President Vaclav Klaus today signed a bill to facilitate bankruptcy proceedings, strengthen creditors and provide aid to companies in financial trouble. It should prevent commercial bankruptcies from leading to automatic liquidation, which could save jobs. The law has also introduced personal bankruptcies for individuals and allows insolvent people to clear debts without the necessity of property seizure. The authors of the bill say it is intended to alter how the country's previously inadequate bankruptcy laws are viewed in Europe.
This week in business, the rankings of the Top 100 firms in the Czech Republic see little change, while motorists can expect big changes thanks to new legislation on lorries. Construction has slowed in the Czech Republic, but is this a systemic problem and is Google planning to open an office in Prague.
The Czech Republic's foreign trade surplus shrank to 7.05 billion koruna (248 million euros) in February from 11.24 billion koruna in January, the National Statistics Authority announced Tuesday, citing higher prices paid for imported natural gas and oil. Exports in the machinery and auto sectors were the main factors fuelling the surplus, the CSU said.
Over 1,000 skeletons discovered during renovation of Kutná Hora “bone church”
Language exams for foreigners seeking permanent residency permit to become tougher
Why are Russian and Chinese spying activities in Czech Republic so intense and how exactly do they do it?
Prague’s historical Koh-i-noor factory to be converted into residential area
Gunman kills six patients in Ostrava hospital, two more fighting for their lives