Czech Republic
COMMENT: Southeast Europe the growth star in CEE banking, but the profit pool is elsewhere
The core message for bankers and investors active in the CEE region should be: close to old records, potential for more but watch out for late cycle phenomena.
Hungarian and Czech super laser facilities to form consortium
Super laser research facilities in the two CEE countries will form a European Research Infrastructure Consortium (ERIC), which is expected to start operating in January 2020.
Home Credit files for Hong Kong public offering
Consumer lender majority owned by Czechia's richest man Petr Kellner mulls Hong Kong listing that could raise more than $1bn.
Czech retail sales in May recorded the slowest growth in past 2 years
Czech retail sales fell 1% month-on-month at constant prices in May after very strong growth in previous months, and marked the slowest growth in 2 years.
Central, Eastern and Southeast European sovereigns to return to debt markets on large scale in 2020, Raiffeisen says
Governments of Central and Southeast Europe have already secured most of the funding they need for this year, but with more obligations maturing in 2020 they are expected to return to the markets on a large scale next year
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Czech industrial production puts in a surprise 3.2% growth in May, resisting German slowdown
Czech industrial production surprised analysts after it increased by 3.2% year-on-year in May, driven mainly by a 7% acceleration in the automotive industry, based on data published by the Czech Statistics Office on July 8. The consensus was for a 1%
Hungary’s largest online booking site acquires Czech peer
Hungarian booking website Szallas.hu acquired Czech-based Hotel.cz group to enter its fifth market outside of Hungary in line with its growth strategy.
Rainbow flag flies over CEE, but attitudes to LGBT vary vastly
North Macedonia held its first ever gay pride march on June 29 with up to 1,000 people attending the event. There were pride marches in nearly all the CEE countries but the experience in each country is vastly different.
BRICKS & MORTAR: Romania, Poland top destinations for new retail parks in CEE
The retail park market is still in its infancy in CEE compared to Western Europe, says a report from Cushman & Wakefield, leaving plenty of room for catch-up growth, especially in smaller cities.
Plane war: Czechia and Russia ban each others flights only to reinstate them the same day
The Russian Ministry of Transport unilaterally banned Czech airlines Ceske Aerolinie (CSA) from flying over Siberia on the Prague-Seoul route prompting Czechia to ban Russian flights to Prague
The biggest banks in the Czech Republic to support investments instead of paying sector taxes
The biggest banks in the Czech Republic, Ceská Sporitelna, CSOB bank, Komercni Banka and UniCredit bank confirmed that they are ready to invest up to CZK7bn (€274.9mn) in the National Development Fund
Czech PMI plunges to its lowest level in the last 10 years
The Czech IHS Manufacturing Purchasing Managers Index plunged to its lowest level since July 2009, posting 45.9 in June, down from 46.6 in May
Czechia's CTP takes €1.9bn loan to close CEE's largest ever real estate transaction
New loan significantly simplifies the company’s previous financing arrangements, securing funding of its industrial portfolio over the mid-term.
Labour shortages and costs halved the FDI in the Czech Republic in 2018
Foreign investors find it "extremely difficult" to find an available and qualified labour force in the Czech Republic, which discourages them from investing, says EY M&A specialist.
E.ON offers its assets in Czechia, Hungary and Germany for sale to overcome EC concerns over Innogy
German energy company E.ON offered to sell several assets to overcome the concerns of the European Commission over its bid for competitor Innogy’s network and retail assets.
More than 250,000 gather in Prague for anti-government protest
A series of protests against the Czech Prime Minister Andrej Babis and his minority government culminated on June 23 with the biggest mass protest in Prague since the Velvet Revolution in 1989. More than 250,000 people gathered on Letna plain.
CEE states block EU ambitions to go carbon neutral by 2050
A group of Eastern European member states said no to a carbon neutrality goal without guarantees that the cost of reducing emissions is offset to lessen the impact of the transition on their economies.
Czech energy company CEZ exits Bulgaria, faces a lawsuit from the Pirates at home
The Czech state-owned energy company CEZ Group sold its assets in Bulgaria to the local Eurohold company for €335mn after an earlier deal was blocked by regulators.