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09/23/2024
Czech banks and savings institutions saw their net profit rise by 8% year-on-year to nearly CZK 60 billion in the first half of 2023, according to the Czech National Bank. Banks' financial and operational earnings increased to CZK 125 billion, driven by higher interest income and fees. Major banks like Česká spořitelna, ČSOB, and Raiffeisenbank all reported profit growth, while Komerční banka saw a 22% decline. Despite the introduction of a windfall tax, the government collected only CZK 700 million from an expected CZK 33 billion. Analysts expect minimal impact from the tax in future years.
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09/23/2024
The leadership of the Pirate Party, a member of the ruling coalition, has stepped down after the party’s poor performance in the regional and Senate elections. The party will elect new leadership at a conference scheduled for 9 November, with Ivan Bartoš, who has led the party for many years and is the Deputa Prime Minister opting not to seek re-election. Prime Minister Petr Fiala (Civic Democratic Party) expressed his respect for the decision and plans to meet Bartoš to discuss the implications. The Pirate Party experienced the largest setback among the coalition parties in the regional elections, losing 96 regional council seats and securing just three in the Pilsen Region.
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09/23/2024
The Czech Ministry of Justice has submitted a proposal to the government to amend the Criminal Code and other criminal legislation. The proposed changes aim to promote alternative sentencing, adjust penalties for minor crimes, and partially decriminalize and legalize the cultivation and possession of cannabis. The ministry stated that the reform will modernize criminal law and streamline criminal proceedings.
The amendments also focus on restorative justice, enhancing support for crime victims, and ensuring swift state responses to violations of alternative sentences. Justice Minister Pavel Blažek will present the proposals to President Petr Pavel on October 1. The ministry has also drafted a "children’s certificate" for background checks for individuals working with children, which will be reviewed by a parliamentary subcommittee this week.
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09/23/2024
The flooded section of the D1 highway near Bohumín, leading to the Polish border, was partially reopened on Monday morning just after 8 a.m. Traffic is now moving in both directions in the left lane, as confirmed by Moravian-Silesian Governor Josef Bělica after a meeting of the regional crisis team. Although the highway is operational, traffic is still limited, with two-way movement restricted to the left lane. Radek Mátl, head of the Road and Motorway Directorate (ŘSD), stated that speed is reduced throughout the affected section. After intensive work over the weekend, the team managed to halt the water flow and prepare the lane for reopening, with speed limited to 60 km/h over a two-kilometer stretch.
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09/23/2024
Ostrava, the third most populous city in Czechia, has fully restored its supply of both heat and hot water after recent floods, according to Veolia Energie. The company confirmed that the services are now back to pre-flood quality, with no provisional measures in place, except for the Martinov Industrial Area, which still lacks technological steam. Flooding had shut down pipelines and the Třebovice power plant, leaving the city without heat and hot water for several days. While the plant continues extensive repairs, alternative solutions and backup systems have allowed full restoration of services across the city.
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09/23/2024
Soon after the closing of polling stations in the regional elections, which saw opposition ANO Party as the dominant force, coalition agreements have been finalized in three regions. In South Moravia, the winning coalition comprising Civic Democratic Party, Christian Democrats, and TOP 09 quickly reached an agreement with Mayors and Independents, ensuring that Jan Grolich from Christian Dmocrats will remain as governor. Similar agreements were reached in Pardubice and Plzeňský Regions, with negotiations in other parts of the country ongoing.
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09/23/2024
The leadership of the Pirate Party, which is part of the ruling coalition, has resigned in the wake of the party’s dismal showing in the elections. Party leader Ivan Bartoš announced their decision following a late-night meeting on Sunday evening. The party is to select a new leadership at a party conference on 9 November. Long-time chairman Ivan Bartoš will not run for re-election. Prime Minister Petr Fiala has said he respects the decision and will meet with Deputy Prime Minister Bartoš to discuss the consequences.
The Pirate Party suffered the biggest defeat of all the ruling parties in the regional elections, losing 96 regional councilors and securing only three seats in the Pilsen Region.
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09/23/2024
President Petr Pavel is starting a week-long working visit to the United States. The Czech head of state will attend the 79th session of the UN General Assembly where he is expected to make a speech focusing on continued support for Ukraine, UN reform and the Czech Republic's efforts to become a non-permanent member of the UN Security Council in 2032 and 2033. The president will also travel to Chicago, Illinois, and Cedar Rapids, Iowa, where he is to meet with members of the Czech expat community.
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09/22/2024
Czech President Petr Pavel has said that the results of the regional elections are a signal to the government regarding which regions it should pay more attention to ahead of next year's general elections. Asked to comment on the outcome of the elections by the CTK news agency, Mr. Pavel said that the elections should not be taken as a referendum on the government, because they revolve around regional issues and moreover Prague did not take part in the vote which tends to distort the big picture when it cames to support for the ruling coalition. The president said it was too early to make a comprehensive assessment, since regional coalitions are still being put together.
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09/22/2024
Ukraine has provided the Czech Republic with a shipment of 40 dryers to help in the clean-up effort of the flooded regions, Czech Foreign Minister Jan Lipavský said on the X network on Sunday. According to the Czech foreign minister diplomats from the Consulate General in Lviv are transporting them to the Czech border from where they will be taken to the firefighters' warehouse in Hlučín.
The European Commission said on Friday that hundreds of dryers are being sent to Czechia, through the EU's civil protection system, by Slovenia, Belgium, Croatia and Germany.
EC President Von der Leyen said earlier this week that 10 billion euros would be made available from EU cohesion funds to Czechia, Slovakia, Poland and Austria which all experienced severe flooding. Two billion euros should fall to the Czech Republic.
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