Czech Republic

IIB placed record cheap CZK bond to high demand

bne IntelliNews April 17, 2019

Hungary-based development bank International Investment Bank (IIB) successfully closed a tap to the outstanding April 2021 CZK Floaters bond worth CZK750mn (€29mn), in line with the Bank’s strategic goal of supporting the local capital markets

Czech producer price index up by 3.8% mostly due to increasing prices of electricity

bne IntelliNews April 17, 2019

Prices of industrial producers (PPI) in the Czech Republic grew by 3.8% year-on-year in March, up from 3.6% in February, due to higher prices in electricity, gas and steam, petroleum products and food processing sectors, according to the Czech Statis

China pledges to boost trade and infrastructure ties with CEE countries

Levente Szilagyi in Budapest April 15, 2019

At the latest 16+1 summit Chinese Premier Li Keqiang stressed the importance of reciprocal opening-up of the market, and says China will make further efforts to facilitate trade.

4th richest Czech billionaire Vitek sued for $3bn by NY hedge fund claiming fraud

Nelly Tomcikova in Prague April 12, 2019

Real estate mogul who is largest commercial property landlord in Berlin accused of swindling New York-based Kingstown and Czech investment firm Investhold in decade-long racketeering scheme.

Czech inflation rate up to 3% y/y in March

bne IntelliNews April 11, 2019

Czech inflation increased by 3.0% year-on-year in March from 2.7% in February, due to higher prices of housing, food, water, electricity, gas and other fuel, above market expectations of 2.9%, according to data by the Czech Statistics Office released

Czech industry up by 1.5% y/y in February

Nelly Tomcikova in Prague April 9, 2019

Czech industrial production increased at constant prices by 1.5% year-on-year in February, and improvement from the -1.1% contraction in January, while the PMI manufacturing index tumbles

Czech unemployment recorded further decline, down to 3% in March

bne IntelliNews April 9, 2019

Czech unemployment fell to 3% in March from 3.3% in February, and down from 3.5% in March 2018, due to start of seasonal work. The number of jobless people reached 227,000 in March, the lowest March value since 1997

Czech PMI continues to fall at fastest rate since December 2012

Nelly Tomcikova in Prague April 2, 2019

The Czech IHS Manufacturing Purchasing Managers Index (PMI) decreased to its lowest level since December 2012, to 47.3 in March from 48.6 in February, signalling a solid deterioration in operation conditions of the Czech manufacturing sector, accordi

COMMENT: No-deal Brexit could affect value chains in the EBRD regions

EBRD in London March 29, 2019

Newly published EBRD research finds that a significant proportion of value chains within the 12 EU countries where the Bank operates, and also in Turkey as a member of the EU Customs Union, could be affected in an event of Brexit

Czech national bank remained on hold with hiking of its interest rates until May as expected

bne IntelliNews March 29, 2019

The Czech National Bank (CNB) Board kept its interest rates unchanged at its meeting held on March 28 as expected. A hike in May, when the new forecast is to be presented, still remains a possibility

Two restaurants in the Czech capital retain Michelin stars in 2019

Nelly Tomcikova in Prague March 28, 2019

Two Czech restaurants in Prague, La Degustation Boheme Bourgeoise and Field successfully retained their Michelin star in 2019, remaining the only restaurants in the Czech Republic with this award, according to Michelin gastronomic guide for Europe

Czech National Bank likely to hike its interest rates three times in 2019

bne IntelliNews March 22, 2019

Czech National Bank (CNB) is likely to raise its interest rates three times this year, due to weaker koruna

Czech industrial production and construction down in January 2019

bne IntelliNews March 19, 2019

Both industrial production and construction have been weakening since beginning of this year. Industrial production contracted by 1.1% and construction by 13.2% year-on-year in January 2019, according to data by the Czech Statistics Office (CSO) publ