Business
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Fitch move sparks fears of painful cut in Czech credit rating
Credit rating agency Fitch has downgraded its outlook for the Czech economy from stable to negative. This has sparked fears it could also cut the country’s credit rating.
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Economist: Domestic trends also to blame for Czechia’s high inflation rate
The Czech National Bank (ČNB) has chosen to raise interest rates by 0.75 percentage points to 5.75 percent, the highest rate since 1999.
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Economists: Raising minimum wage would be economic suicide
The head of the Trade Union Confederation has threatened a strike if the minimum wage is not increased. But economists warn that raising it could lead to further inflation.
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Business daily: Long Shanghai lockdown could be another nightmare for Skoda Auto
Skoda Auto has been plagued by production problems in recent years due to fall-outs in deliveries. The Shanghai lockdown could spell more problems for the car maker.
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Pork production in Czechia threatened by rising costs
Last year the number of pigs on Czech farms fell by around ten thousand. Farmers warn that if the government doesn’t step in, Czech pork may disappear from the market.
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Czech Republic’s trade unions demand increase in minimum wage
The Czech Republic’s trade unions are calling for an extraordinary increase in the minimum wage.
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Households and critical infrastructure to receive gas if supplies cut
If there were an extreme shortage of natural gas in the Czech Republic supplies would only be maintained to households and critical infrastructure such as hospitals.
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Czech online delivery giant Rohlik Group sees profits rise by more than 50 percent
Czech online food delivery company Rohlik Group has announced that it registered 53 percent growth within its past fiscal year running from May 2021 to April 2022.
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Czechs stock up on firewood in fear of rising energy prices
Despite the heating season having just finished, Czechs are already stocking on firewood for the next one, fearing the rising energy prices, Czech Television has reported.
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Many Czech businesses hoping to fill job applications gap by hiring Ukrainian refugees
The economic impact of the coronavirus pandemic, inflation and the war in Ukraine are all affecting the Czech labour market, writes news site Aktuálně.cz.
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Fewer guests at Czech restaurants than before the pandemic
The winter low season is over, but restaurant owners say guests have been slow to return, although many have opened their outdoor gardens and terraces to entice passers-by.
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Coal mining in Karviná could be extended until 2025
Russia’s invasion of Ukraine, associated EU sanctions and the push for energy independence have led Czech officials to explore new sources of coal.
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