Czech Republic
LONG READ: The Growers - a handful of countries in New Europe are coping with the coronacrisis and are still expanding
Gold-exporting Uzbekistan has the emerging Europe region's best shot at achieving positive GDP growth this year. Other economies managed to expand in Q1 but will be pushed into full-year contractions.
Czech utility CEZ to expand nuclear plant with state support
New block at the Dukovany nuclear power plant is expected to come online in 2036.
Movie night at the airport
Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.
-2_Cropped_1590391940.jpg)
70% of companies in Czech Republic saw a drop in orders in May due to COVID-19 outbreak
The economic situation of Czech companies is deteriorating and most hope for an extension of the government's Antivirus support programme, a survey by the Confederation of Industry and Transport shows.
Russa’s coronavirus cases close to 300,000 but PM says growth in new cases has halted
Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.
Most Central, Southeast Europe economies contract in Q1 but outperform eurozone average
Performance ranges from a contraction of 5.4% q/q in Slovakia to growth of 0.3% q/q in Bulgaria and Romania.
Czech-Slovak billionaires Kretinsky and Tkac become fourth-largest shareholders in US Macy's
Investors might consider acquiring additional stakes if the uncertainty around the coronavirus pandemic that which forced the retail chain to close its stores causes a further fall in the share price.
ING: Central and Eastern Europe’s fiscal and monetary response to COVID-19
What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.
_1589210967.jpg)
Retail sales under lockdown across Central and Eastern Europe are sinking
A worldwide lockdown has created havoc for retailers as their customers are forced to stay at home. There has been a little respite as sales in March surged due to panic buying but that has given way to a lockdown that keeps stores closed
Czech central bank lowered key interest rate to 0.25% to ease COVID-19 crisis
Czech National Bank surprised the markets by lowering the two-week repo rate by 75 bp to 0.25%.
Capital outflows from EMs reverse in April to modest gains
The torrent of capital fleeing Emerging Markets (EMs) securities has stopped and these markets saw a modest inflow in April, reported the Institute of International Finance (IIF) on May 4.