• 09/20/2024

    The Czech koruna strengthened against both the euro and the US dollar by the end of the workweek. It gained five hellers against the euro, trading at 25.06 CZK/EUR, and rose by seven hellers against the dollar to 22.49 CZK/USD, according to data from Patria Online. Analyst Jaroslav Tupý from Purple Trading noted that the koruna remains steady around 25.10 CZK/EUR due to continued positive sentiment in financial markets. He added that the Czech National Bank (ČNB) is expected to cut its base interest rate by 25 basis points next week, from 4.5% to 4.25%. The ČNB last reduced the rate in early August, slowing its monetary policy easing after four half-point cuts earlier this year.

    Author: Vít Pohanka
  • 09/20/2024

    President Petr Pavel acknowledged that complications due to the recent floods will impact the elections, but assured that everyone who wishes to vote will have the opportunity. Speaking after casting his vote alongside his wife Eva in the Senate and regional elections, Pavel emphasized that while some areas face difficulties, alternative voting stations or merged districts are in place in the worst-affected municipalities. He also highlighted the importance of voting, stating that elections are the only way to drive change, and stressed the Senate's role as a democratic safeguard. Despite the floods, the government chose not to delay the elections, which Pavel considers a reasonable decision. While some logistical issues may arise, he believes they are a smaller concern compared to the potential constitutional disputes over election legality.

    Author: Vít Pohanka
  • 09/20/2024

    Expect clear to partly cloudy skies over Czechia, with occasional morning fog or low clouds. Daytime temperatures will range from 19 to 23°C.

    Author: Vít Pohanka
  • 09/20/2024

    The Olomouc region has restricted access to the flood-devastated area of Jeseník and surrounding villages as of noon today. The measure, issued by regional governor Josef Suchánek, aims to prevent an uncontrolled influx of volunteers and onlookers that could hinder rescue and cleanup operations over the weekend. Only registered volunteers, local residents, their relatives, hotel guests, emergency responders, soldiers, employees of local companies, and those involved in organizing elections will be allowed into the area. Police checkpoints have been set up on access roads, and violators face fines.

    Author: Vít Pohanka
  • 09/20/2024

    The recent floods in the Moravia-Silesia region have affected an estimated 99,700 people. This figure includes those whose properties were damaged by floodwaters and torrential rains. Around 15,000 people were at risk of losing their lives due to the floods. So far, three deaths have been confirmed, although authorities are investigating the discovery of another body found in the Ostravice River to determine if it was flood-related. Police have also reported a seventh case of looting, with a perpetrator attempting to steal electric bikes and scooters. The region remains under a state of emergency, and those caught looting face up to eight years in prison. Cleanup efforts continue, with 330 soldiers assisting in affected areas and 100 more aiding ČEZ in restoring power. Firefighters are distributing mobile washing stations, toilets, heaters, and cleaning supplies, including 1,400 dehumidifiers. The D1 highway towards Poland remains closed, but officials hope to reopen it soon.

    Author: Vít Pohanka
  • 09/20/2024

    Czechia and Luxembourg have submitted a proposal to the European Commission (EC) outlining ways to enhance the EU's single market, with a focus on simplifying and harmonizing rules for goods and services, and applying the principle of mutual recognition where possible. Endorsed by 20 member states, the strategy will be presented at a meeting of EU industry ministers on September 26. The proposal calls for reducing administrative burdens and removing barriers to cross-border business activities, emphasizing quality and consistency in implementing rules. The EC is expected to publish a new single market strategy by June 2025.

    Author: Vít Pohanka
  • 09/20/2024

    Voting is also underway in municipalities of the Moravia-Silesia and Olomouc regions, which were hit by floods last weekend. The Czech Statistical Office (ČSÚ) tested all 472 vote-counting stations on Tuesday, with only two remaining inaccessible. If those cannot be restored, the CSÚ will relocate them to backup locations, ensuring that the election results will not be affected, according to spokesperson Jan Cieslar. However, vote counting is expected to be delayed compared to normal due to the merging of election commissions in some districts and disrupted transport infrastructure.

    Author: Vít Pohanka
  • 09/20/2024

    Czechs are casting their ballots in regional and Senate elections. Over 8,000 candidates are contesting seats on regional councils across the country, except in Prague, where councilors are elected in municipal elections. Elections for a third of the Senate take place every six years. Nearly forty parties and movements have nominated 169 candidates for 27 seats in the upper chamber. A second round of Senate voting will take place next weekend for those who do not secure more than 50 percent of the vote, with the two top candidates from the first round advancing. Polling stations are open on Friday from 2 p.m. to 10 p.m. and on Saturday from 8 a.m. to 2 p.m.

    Author: Vít Pohanka
  • 09/20/2024

    The construction of new nuclear reactors at Dukovany, one of Czechia's two nuclear power plants, marks the beginning of a new era in Czech-Korean relations, according to Czech President Petr Pavel.  After meeting South Korean President Yoon Suk-yeol, the Czech head of state stressed that this new level of cooperation exceeds the scope of traditional business relations. Speaking at a business forum, the two leaders emphasized that the project will enhance collaboration in other sectors, including industry, science, and research. This comes as Czech energy company ČEZ negotiates a contract with South Korean KHNP, set to be finalized by March 2025. The first reactor is expected to be completed by 2036.

    Author: Vít Pohanka
  • 09/20/2024

    Voters in 15 municipalities across Czechia will participate in local referendums alongside the regional and Senate elections starting today. Most of the referendums will focus on the construction of wind and photovoltaic power plants, while other issues include the building of senior homes, community centers, road bypasses, and mineral extraction. To be valid, at least 35% of registered voters must participate, and a decision is binding if it receives majority support and at least 25% of total voter approval. Most referendums will conclude by Saturday at 2 p.m.

    Author: Vít Pohanka

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