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01/06/2020
Česká zbrojovka Group (CZG) is considering selling some of its shares on the Prague Stock Exchange in order to raise funds for an expansion in the United States, where it is planning to construct a factory, the small arms manufacturer announced in a press release on Monday. It would be the first time in 12 years that the company’s shares are sold in Prague. However, the business also stresses that, at this time, it is only one of the courses of action it is considering and did not disclose the other options.
Last year, CZG announced its plans to build a manufacturing and distribution centre in Little Rock, the capital of the State of Arkansas. The company hopes not only to expand on the American private market, but sell to American federal security services, according to the press release.
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01/06/2020
Some CZK 155 billion were spent by Czechs while shopping online in 2019, news site iHNed.cz reports. The number shows a CZK 20 billion increase compared with the previous year and, according to the head of the Czech Association for e-commerce, Jan Vetyška, is partly down to increasingly better services, with a wide variety of delivery options. Most online purchases were conducted when Czechs shopped for electronics and house appliances.
Online shopping popularity is a growing trend in the country. In 2018, the Czech Republic took one of the top spots in Europe when it came to e-commerce, with more than 43 percent of technical or non-food goods in the country being sold online, according to data released by the research agency GfK and the Czech Confederation of Industry. The amount of online retailers has also grown substantially, reaching more than 46,000 vendors last year.
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01/06/2020
Associations representing the interests of towns and municipalities have called on Minister for Regional Development Klára Dostálová (ANO) to withdraw the current draft bill for a new Building Act. A completely new proposal needs to be created as the legislation is so bad, the Chairman of the Union of Towns and Municipalities František Lukl said in a press release issued on Monday together with the Association for Rural Renewal. Mrs Dostálová has not yet commented on the statement.
The draft Building Act has elicited criticism in the media as well. In October, it was described as a de-facto privatization of the legislative process which plays into the hand of developers, in the weekly magazine Respekt.
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01/06/2020
Nearly 1 in 6 Czechs would prefer voting be held on a single day, according to a new Median poll conducted for Czech Radio. Currently, elections are held on Friday afternoons and on Saturdays until 2 pm.
Roughly half of those polled said they would prefer to vote on Saturdays, and just under 7 percent said they would prefer elections be held on Sundays.
The government is currently working on electoral reform, due to be implemented ahead of the 2021 parliamentary elections.
In addition to possibly introducing a single-day ballot, mail-in or absentee voting is also being addressed.
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01/05/2020
The traditional procession of the Three Kings (Kaspar, Melichar and Balthazar, who followed the star of Bethlehem to worship the baby Jesus) passed through the historical centre of Prague on Sunday afternoon.
The three kings set off on camels from Malostranské Square at 3 pm. They then crossed Charles Bridge to Old Town Square, where Jakub Jan Ryba’s classic "Czech Christmas Mass" was performed.
The procession was preceded by a service led by Cardinal Dominik Duka, who will blessing carollers taking part in the annual Three Kings Collection for charity.
The collection, which runs until January 14, is organised by Charita, the largest non-state provider of social services in the country.
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01/05/2020
Czech judge Jan M. Passer, currently a member of the European Court of Justice (ECJ), has been nominated to replace his compatriot Jiří Malenovský at the Court of Justice of the European Union (CJEU).
Malenovský has been a judge of the CJEU since 2004. He intends to leave office this May. Passer joined the ECJ in September 2016 after serving over ten years a Supreme Administrative Court judge.
The CJEU is the collective name for the EU judicial branch. Its purpose is to ensure the uniform interpretation and application of EU law.
The ECJ, which constitutes the EU’s final court of appeal, is one of three distinct judicial entities comprising the CJEU. Beneath the ECJ are two subordinate courts, the General Court and the Civil Service Tribunal.
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01/05/2020
The government is expected on Monday to approve a CZK 1.7 bln plan to identify suitable sites and begin preparations for building an underground nuclear waste repository.
The amount is allocated for exploratory work, research and compensation to local communities during the initial phase through 2023.
The repository, in which thousands of tons of spent nuclear fuel should be permanently located at a depth of half a kilometre, is slated to be built by 2065.
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01/05/2020
Monday should be cool and cloudy throughout the Czech Republic, especially in the north. Average daily highs should range from 1 to 4 degrees Celsius.
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01/05/2020
Total tax revenues excluding social security insurance rose by 5.4 percent last year to 1.075 trillion crowns, the Ministry of Finance said. Collected revenue was about 12 billion crowns lower than planned.
The Ministry of Finance anticipates even higher revenues in 2020. In part, this stems from 10 percent higher taxes on alcohol, tobacco and gambling, which should increase state revenues by about 10 billion crowns.
The aim is to keep the budget deficit at 40 billion crowns or 0.7 percent of economic output.
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01/05/2020
Trade unions will demand at 6-7 percent rise in average wages this year, according to Josef Středula, head of the Czech-Moravian Confederation of Trade Unions.
In an interview with iDnes.cz published on Sunday, Středula said that despite an expected slowdown, Czech companies can afford pay hikes. If wages stagnate, he said, the entire Czech economy – half of which is driven by consumption – is at risk.
Czech GDP in real terms has already exceeded 90 percent of the European Union average, yet Czech wages are at around 30 percent of the European average in nominal terms, Středula said.
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