Czech Republic

bneGREEN: Fossil fuel closures needed to stand any chance of meeting 1.5°C target

bne IntelliNews May 20, 2022

Ending new oil, gas and coal developments is not enough to reach net zero by 2050, according to new research. Instead, already built fossil fuel projects must be decommissioned early if climate change is to be limited to 1.5°C.

bneGREEN: More proof that climate change threatens lives and causes economic damage

Richard Lockhart in Edinburgh May 20, 2022

Human activity has caused irrevocable damage to the climate, causing hundreds of billions of dollars of economic damage and threatening water and food supplies to millions of people.

PPF agrees to sell Russian banking assets

bne IntelliNews May 17, 2022

Czech financial group finally sells out to a group of investors led by Ivan Tyryshkin, chairman of the fintech SPB Exchange.

bneGREEN: Raising EU green targets will cost an extra €195bn

Richard Lockhart in Edinburgh May 14, 2022

The European Commission is considering raising its renewable energy target for 2030 to 45% in new green plans to be published later in May.

New Czech central bank governor to push for dovish monetary policy

bne IntelliNews May 12, 2022

Ales Michl, who will take charge from the July monetary council meeting, has been an outspoken opponent of interest rate hikes. This could mean the next council in June will take the opportunity to hike rates before he takes over,

Czech inflation in April up to its highest level since 1993

bne IntelliNews May 11, 2022

In yearly terms, inflation accelerated to 14.2% in April, up from 12.7% in March, driven mainly by price increases in housing, fuel and food.

EBRD expects 30% GDP contraction in Ukraine in 2022, lowers emerging Europe projections

Clare Nuttall in Marrakesh May 10, 2022

The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.

Czech unemployment rate down to 3.3% in April

bne IntelliNews May 10, 2022

Unemployment rate fell by 0.1 percentage point month-on-month and by 0.8pp year-on-year.

Czech central bank hikes rates by 75bp to tame soaring inflation

bne IntelliNews May 6, 2022

Polish central bank, by also hiking 75bp, opted for a smaller hike than expected.

Smejc to take over as PPF chief executive

Robert Anderson in Prague May 5, 2022

Recruitment of Smejc and billionaire Kretinsky will strengthen Czech financial group's management following the damage to its investments caused by Russia’s invasion of Ukraine.

Czechs join Slovakia and Hungary in demanding exemption from EU embargo on Russian oil

bne IntelliNews May 5, 2022

Heavily-dependent states will be allowed to buy Russian oil exports until the end of 2023, while other states have to cease crude deliveries in six months.

NEMETHY: How will the war in Ukraine affect Emerging Markets?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors May 2, 2022

We have all heard the adage that a butterfly flapping its wings in the Amazon could affect the weather patterns on the other side of the planet. Might the war in Ukraine also have such unintended consequences?

Czech economy grew by 4.6% y/y in 1Q22

bne IntelliNews May 1, 2022

Capital Economics predicts GDP will contract by 0.4% q/q in 2Q22 and stagnate for the remainder of the year, as industry struggles with supply problems.

BOOK REVIEW: How the handling of migration from the eastern EU states pushed the UK towards Brexit

Clare Nuttall in Glasgow April 29, 2022

“Here to Stay: Eastern Europeans in Britain” tells the story of the half million citizens of the new EU member states who have moved to the UK since the early 21st century.

Czech Archbishop Duka defends Russian soldiers over rape of Ukrainian women

bne IntelliNews April 29, 2022

Conservative head of Czech Catholic church causes outrage by asking public not to condemn Russian soldiers for atrocities they commit on Ukrainian women.

Visegrad Group needs to 're-invent itself", says Rupnik

Robert Anderson in Prague April 28, 2022

The Visegrad Group of four Central European countries is in “deep freeze” because of the Hungarian-Polish split over the Ukraine war, says Sciences Po professor.

Emerging Europe growth to fall to an average of 3% this year, says wiiw

bne IntelliNews April 28, 2022

Russian GDP forecast to fall by 9-15% this year, while Ukraine's economy could collapse by 38-45%.

Czech unemployment rate falls to 3.4% in March

bne IntelIiNews April 12, 2022

Towards 13,000 Ukrainians have found jobs since the late February invasion of their country.

Czech inflation in March up to its highest level in past 25 years

bne IntelliNews April 12, 2022

Rise in consumer prices hits 12.7% year-on-year.

VISEGRAD BLOG: Are broad coalitions really the best way to overthrow authoritarian populists?

Robert Anderson in Prague April 12, 2022

The Hungarian election has dealt a big blow to the once confident hope that broad opposition pre-electoral coalitions are the best way to remove entrenched authoritarian populists from power.