The Czech Republic’s most lucrative shopping mall, Palladium, is about to change hands in what some have dubbed the deal of the year on the country’s commercial property market. The German fund Union Investment is to pay 565 million euro for the mall, located in central Prague, according to the daily Hospodářské noviny. The transaction is expected to materialize in the coming weeks – but it confirms Prague’s position as a prime destination for western European real estate investors. I discussed the deal with Rob Paulson, an analyst for the Prague
The Czech-Polish food war which dates back to 2012 flared up anew on Monday as the Polish agriculture minister Marek Sawicki accused the Czech authorities of employing dishonest practices aimed at hurting Polish imports. He claimed that the Czech Agriculture and Food Inspection Authority had ordered a blanket nation-wide inspection targeting exclusively Polish goods and said his country would complain to the European Commission over discrimination of Polish products.
As Christmas approaches Czechs are taking the shops by storm and salespeople are anticipating high profits. With almost no restrictions on opening hours, Czechs can shop till they drop, but that may be about to change. The lower house is preparing to debate a bill which would force supermarkets and shopping malls to close down for the holidays.
The Polish embassy in Prague has taken offence at a TV commercial for the mobile phone operator T-Mobile in which a Polish man is presented as a fraudster. The Polish ambassador, who says the clip harms relations between the two nations, has officially requested the operator pull the commercial, a move T-Mobile said it would consider.
The biggest player in Czech cyberspace, the local search engine and website Seznam.cz, increased its revenues to three billion crowns this year, compared to 2.9 billion in the previous year. The most popular Czech search engine expects to post a final profit of 930 million crowns for the whole of 2014, Seznam’s general manager Pavel Zima told the Czech News Agency on Thursday.
Black Friday, a day of discounts immediately after Thanksgiving intended to boost sales in the pre-Christmas period, has spread beyond America’s borders, with the UK in particular experiencing shopping fever at the end of last week. The sales drive has also reached the Czech Republic, though there were no scenes of customers coming to blows over TV sets; in this country Black Friday overwhelmingly concerns online retailers.
In Business News this week: Czech Republic fails to use 12 billion crowns in EU subsidies in 2013; Czech household debts are steadily increasing; Aero Vodochody was ninth fastest-growing aircraft producer in world last year; investment group PPF reportedly planning to take over country’s biggest private chain of medical facilities; and Czech online retailers offer discounts on Black Friday.
Last week, the governments of EU countries, including the Czech Republic, unanimously approved a new law to cut down the number of plastic bags by 80 percent within the next ten years, with the aim to curb litter on land and in seas. A small non-profit organisation in Prague, called Bezobalu or Unpackaged, is already doing its share in the fight against excessive use of plastic. The group has recently opened a shop in the centre of Prague, where you can only buy unpackaged goods and take them home in your own containers.
In the past, ads which have “won” Sexist Piggy Awards have been largely commercial in nature: scantily-clad women draped over cars or propping up chainsaws or other power tools. While this remains true even now, participants and the jury in this year’s sixth inception noted that exploitative motifs had surfaced in the field of politics. This year’s “winner” is none other than a local branch of the Social Democratic Party, while a student-produced ad for a university, featuring sex in the bathroom, came second.
Over 1,000 skeletons discovered during renovation of Kutná Hora “bone church”
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
Language exams for foreigners seeking permanent residency permit to become tougher
An Experiment in Vivisection: Czechoslovakia’s Second Republic 1938-1939