News

Prague city councillors have decided to end property rental contracts with Akroterion, a company which had hoped to open a Ritz-Carlton Hotel on Prague’s Old Town Square.

The Czech News Agency reported that the company, which owns four buildings and had rented an additional four from the city for a number of years, did not meet rental conditions. The complex of buildings was to have been opened by mid-September of this year and the rent was to have been agreed until 2081. City councillors nixed the plans on the grounds that investors had not been able to get the complex up and running over 15 years.

Prague Mayor Adriana Krnáčová has suggested the city could have the property renovated as flats which could leased to diplomats.

The Civic Democrats, the second-largest party in the lower house, have repeated they will not back the minority government led by prime minister and ANO leader Andrej Babiš. Their chairman, Petr Fiala, said his party would prefer instead if the prime minister intensified efforts to form a majority government.

He also reacted to the government’s proposed policy program by saying the Civic Democrats favoured lowering taxes more. The party is also opposed to the electronic cash registers system, put in place by Babiš as former finance minister, arguing the system had driven some entrepreneurs or firms out of business.

On Tuesday, the Christian Democrats, after meeting with the prime minister, said they would not support the government as they could not accept a member of the government, in this case Mr Babiš himself, who was being sought by the police to face criminal charges. In the previous lower house Mr Babiš’ immunity was waived so that he could face charges in a subsidy fraud case.

The prime minister is meeting with the heads of all parties in the lower house, seeking backing for his government ahead of a vote in January.

He has received assurances from the president he will get a second attempt to form a government should the current one fail.

Carmaker Škoda Auto has again been named Czech Exporter of the Year after achieving exports of CZK 310 billion in 2016. That figure amounts to almost 9 percent of the country’s total exports in 2016.

Second in the annual awards, which were announced for the 23rd time in a ceremony in Prague on Monday evening, was Foxconn CZ, which finished ahead of Agrofert.

The Association of Exporters expects Czech exports to reach a record CZK 4.15 trillion this year.

Czech bookmakers have shortened their odds on the incumbent Miloš Zeman winning presidential elections in January. While two weeks ago the odds on a victory for the current head of state were 1.8 to 1, they have now fallen to 1.62 to 1.

By contrast, the odds have lengthened slightly on scientist Jiří Drahoš, who polls suggest has the second highest support after Mr. Zeman. Whereas the bookies were giving a price of 2.8 to 1 on Mr. Drahoš they are now offering 2.9 to 1.

A total of CZK 50 million had been staked on the outcome at the start of December, which is the same amount that was bet on the entire 2013 presidential election.