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The summer saw the Czech economy experience its weakest quarterly growth rate in two years. Preliminary estimates show that year on year just 1.9 percent of growth was achieved in the third quarter. As we approach the mid-point of the fourth quarter, the economic revival thus seems to be losing steam.
The Czech National Museum [NM] is to help preserve and store Syrian historical artefacts.
By the end of October, SWELL a.s., the leading Czech provider of services in applied research and development for automotive industry, based in Hořice, Hradec Králové Region, will have changed its ownership. Genesis Private Equity Fund II (GPEF II), which was the owner of 96% stake, sold its share to the international group Altran. Together with GPEF II also the executive managers of SWELL sold their minority stake, and Altran becomes the sole owner of the company.
Worldwide sales of 3D printers for the production of metal parts are growing at an annual clip of tens of percent. South Bohemia’s Kovosvit MAS will in 2017 jump on the accelerating bandwagon thanks to new era equipment developed in a link-up with experts at Prague’s Czech Technical University [ČVUT].
Architects and experts who were preparing the capital’s Metropolitan Plan at The Prague Institute of Planning and Development [IPR] have quit in reaction to the dismissal of IPR director Petr Hlaváček, team members have revealed.
Hynek Kmoníček (53) is an advisor to President Miloš Zeman. A diplomat, expert on Muslim culture, passionate cook and lover of spicy sauces – and likely the next Czech ambassador to the US – Kmoníček believes that a Europe chained to political correctness is essentially committing suicide. He compares it to treating flu with penicillin: pathogens become ever more resistant, and the penicillin becomes less effective. In the end, you take 60 pills and die. Now, he argues, we are somewhere around pill number...
According to Miroslav Kalousek, leader of opposition party TOP 09, relations within the three-party governing coalition are rapidly souring, with Cabinet members failing to communicate among themselves. Kalousek also dismisses finance minister and ANO leader Andrej Babiš’s idea to give customs officials full police powers as absurd.
The merger of technology firms AVG and Avast is worthy of major attention. It is a significant event not just within the hi-tech sector, but for the entire Czech economy.
The Czech National Bank [ČNB] has extended its weak crown policy. Czechs will not be able to buy a euro for less than 27 crowns at least until the beginning of 2017, with the latest central bank policy being to most probably remove the crown cap at some point in the first half of next year.
The Czech Republic, a low cost economy that is merely stagnating. Is that how macroeconomic observers will be typically describing the country not too long from now? According to trade union chiefs, it is looking rather likely.