Czech Update

Over a third of Czechs consider themselves poor

Dominik Lukeš — Sat, 22 Mar 2008 11:02:28 +0000

Although two thirds of Czechs have a problem making ends meet on their monthly earnings, only a third consider themselves poor. read more »

Czech taxes 113th in the world

Dominik Lukeš — Tue, 20 Nov 2007 17:15:01 +0000

In a strange imaginary league table of worldwide taxation, Czech Republic came in the 113th place. That is not good! read more »

Příkopy - Prague street in Top 20 most expensive in the world

Dominik Lukeš — Thu, 15 Nov 2007 10:20:39 +0000

The Prague street that joins into the bottom of Wenceslas square came 20th in the world ranking of the most expensive streets in the world (down from 18th a year ago). Rents there reach 2000 EUR per square meter a year. Paradoxically, the Czech name translates literally as "on the ditches". read more »

Czech Republic less desirable for support service outsourcing

Dominik Lukeš — Mon, 15 Oct 2007 17:43:32 +0100

Now this could be both bad and good news. While the country is not seen as attractive for these types of services it is also not seen as a source of cheap labor.

Czech Republic on call read more »

Ostrava plays host to foreign workers

Dominik Lukeš — Mon, 08 Oct 2007 16:56:14 +0100

This is an interesting story about expatriate adjustment of people who are not like the stereotypical American expats. read more »

Polish workers back in Czech Republic

Dominik Lukeš — Mon, 08 Oct 2007 16:53:28 +0100

I remember there used to be a lot of Polish workers working on construction and other projects in the 1980s and it seems that they are coming back. And why not? read more »

Czechs second highest earners in new EU countries

Dominik Lukeš — Mon, 01 Oct 2007 07:39:39 +0100

The good news is the high salaries and lowish unemployment compared to the new countries. The bad news is a continuing lag behind old EU countries and the 25% pay gap between men and women. read more »

Absinthe: tourist attraction as well as a popular export item

Dominik Lukeš — Sat, 11 Aug 2007 16:20:52 +0100

There are fewer drinks with more history and less appeal than absinthe. It has been made in the Czech lands for over a hundred years with all its decadence and semi-halucinogenic properties. It has now become a tourist attraction as well as a profitable export business.
read more »

Prague 41st world-wide in survey of cities' economic importance

Dominik Lukeš — Tue, 19 Jun 2007 15:37:15 +0100

Hlavním obchodním centrem je Londýn, Praha je 41. Nejvýznamnějším městem ovlivňujícím globální ekonomiku je Londýn, za kterým následují New York, Tokio, Chicago a Hongkong. V první desítce se dále umístily Singapur, Frankfurt, Paříž, Soul a Los Angeles. Praha skončila v porovnání se všemi světovými městy na 41. místě, v Evropě obsadila 18. příčku.

Czech university students use sex as a source of income

Dominik Lukeš — Sat, 17 Feb 2007 11:16:56 +0000

Sex jako výnosnější brigáda - www.lidovky.cz PRAHA 17. února 2007 | 10:59 Až čtvrtina studentek vysokých škol si podle odhadů minimálně jednou během studia vydělá komerčním sexem a točením či focením porna.

Prague has two hotels World Top 10

Dominik Lukeš — Fri, 16 Feb 2007 09:43:57 +0000

MF DNES Praha - Pražský hotel Riverside je osmý nejluxusnější na celém světě. Na osmé místo se dostal v prestižní anketě portálu Tripadvisor, který každý rok oceňuje nejlepší hotely z celého světa.

Two hotels in Prague made it to the top 10 in a survey of hotel visitors from around the world conducted by Tripadvisor. Riverside is 8th (4th in Europe) and Le Palais 10th. It should be of note that neither of these hotels has a Czech or even Czech sounding name and that one read more »

Czech children not poor, but have emotional problems - UNICEF

Dominik Lukeš — Wed, 14 Feb 2007 09:45:00 +0000

Czech children not poor, but have emotional problems - UNICEF Czech children do not suffer from poverty and they have good health care and education as compared to children from some two tens of developed countries, but they have more problems in relations with parents and peers, according to a study that UNICEF released today.

Czech Republic came 11th in the overall score beating USA, France and UK (all three often featured as role models in socio-economic areas). Czechs were 11th, 10th and 9th in financial position, health and education respectively and it's infant mortality rates are one of the lowest but their overall ranking was brought down by "assessment of relations between children and their peers, and children and their parents." where CR scored 19th (ahead only of UK and US). Here are some other quotes from the article about the report. read more »

Fewer Czechs take longer sick leave

Dominik Lukeš — Tue, 13 Feb 2007 10:52:20 +0000

Average sick leave length in Czech Republic increased in 2006 - Prague Daily Monitor The average sick leave length of Czech employees increased to 36.5 days by about three days last year, compared to 2005, but the total number of people on sick leave has dropped, according to the Czech Social Authority (CSSZ).

And the most common illness was respiratory problems (the cough?). These numbers come from the agency administering the compulsory sick-leave and social security insurance whose budget is app read more »

Is vepřoknedlozélo in danger?

Dominik Lukeš — Thu, 08 Feb 2007 14:23:26 +0000

Pig Progress | News | Page content | Pig breeding down in Czech Republic Pig breeders are annually winding down activities in the Czech Republic. In the last five years, pig stocks have decreased by 600,000 to 2,840,000, says the Czech Statistical Office (CSU). read more »

Village shops unite under Coop label, shed communist past

Dominik Lukeš — Thu, 08 Feb 2007 09:11:25 +0000

Vesnické obchody se spojí proti Teskům a Lidlům - iDNES.cz České obchody Jednota, Konzum a Coop, kterých je 3074 po celé zemi, se chtějí jako protiváha k nadnárodním řetězcům zviditelnit pod jedním názvem. S největší pravděpodobností to bude Coop.

Two names that were known to Czech shoppers for decades may soon disappear. Jednota (Unity) and Konzum (Consuming) were two state-run (or at least state controlled) cooperatives covering thousands of shops and restaurants all over Czechoslovakia. read more »

Czech tax freedom day stays on 22 June in 2007

Dominik Lukeš — Tue, 06 Feb 2007 09:53:20 +0000

Patria: Češi budou na stát dělat do 22. června - iDNES.cz Češi budou letos pracovat na stát do 22. června, tedy stejně jako loni. Den daňové svobody připadne podle propočtů Patria Finance na 173. den v roce. Od onoho okamžiku si pomyslně budou Češi moci nechat svůj příjem pro sebe, do té doby jej budou odevzdávat státu.

Another example of American perspectives being imposed on Czech affairs. Czech newspapers now use the Tax Freedom Day concept to describe the Czech taxation system. But it makes it easier to compare the tax burden: read more »

Foreign investment in the Czech Republic

Dominik Lukeš — Mon, 05 Feb 2007 15:45:00 +0000

Europe : Foreign Direct Investment in the Czech Republic: A Challenge for Domestic Firms An economic analysis concerning Foreign Direct Investment in the Czech Republic has been published by the European Commission’s Directorate-General for Economic and Financial Affairs The Czech Republic has been one of the primary recipients of foreign direct investment (FDI) among Central and Eastern European countries. Soon after transition, it attracted the attention of foreign investors based on sound economic fundamentals and the opportunities offered by early privatizations. Substantial foreign investment over a fifteen year period has profoundly affected the structure and performance of the economy. This country focus looks at the way in which foreign investment has influenced productivity and market dynamics, including intra and inter-industry spillovers, and the expansion of the economy as a whole.

Perceptions of bribery

Dominik Lukeš — Thu, 25 Jan 2007 16:42:34 +0000

Czech clerks take bribes from big firms -politicians, managers Prague- Clerks at Czech ministries and other central state offices take bribes most frequently, and primarily large Czech companies corrupt them, politicians and managers said in a poll released today. ... Politicians and businesspeople said in the poll that in their opinion corruption in the Czech Republic has not increased since 2001. According to them, the situation is slightly worse in Prague over a higher concentration of state offices in the capital. read more »

Richer Czechs adopt long distance

Dominik Lukeš — Wed, 24 Jan 2007 09:55:50 +0000

Češi propadli adopci na dálku - www.lidovky.cz Odborníci mají pro rostoucí zájem o adopce na dálku vysvětlení. Zatímco dříve byla z drtivé většiny motivace lidí dána výchovou – tedy že lidem v nouzi by se mělo pomáhat – nyní vstupuje do hry nový motiv. „I když ta touha pomáhat chudým převládá, motivace pramení i z dobrých materiálních poměrů Čechů, jejichž životní úroveň se každým rokem zvyšuje,“ konstatovala za občanské sdružení Adra Marie Racková. Organizace Adra zprostředkovala dálkové sponzorství pro 1100 dětí v Bangladéši.

New property law raises expectations of Brit influx

Dominik Lukeš — Thu, 18 Jan 2007 01:31:40 +0000

News - Check out Czech Republic for property investment - Real Estate TV A change in VAT laws in the Czech Republic is set to see an increase in the number of Britons investing in the country, according to a spokesperson for Property Secrets.

The VAT rule alterations, due to come into effect in 2008, coupled with the accelerated growth in the economy are set to drive property investment in the Czech Republic in the next few years.

What more can be said? The number of read more »

President says EU membership brought little to Czech Republic

Dominik Lukeš — Fri, 12 Jan 2007 22:00:14 +0000

Czech president says EU membership brought little to Czech Republic, Slovakia - International Herald Tribune BRATISLAVA, Slovakia: Czech President Václav Klaus said Thursday he believes that the accession of his country and neighboring Slovakia to the European Union has brought little benefits to the two countries.

Not surprising given the strong Thatcherite leanings combined with increasingly strident nationalistic populism of the president (biased view of mine). He is also, tr read more »

More than half of Czechs willing to move for work

Dominik Lukeš — Tue, 09 Jan 2007 13:24:33 +0000

Téměř polovina Čechů je ochotna odejít za prací - iDNES.cz Češi jsou již ochotnější stěhovat se za prací. Z výzkumu, který provedla Hypoteční banka, vyplývá, že téměř každý druhý v tom nevidí velký problém. Lidí, které by výhodná pracovní nabídka přiměla sbalit kufry a odstěhovat se, je dokonce více než těch, kteří si to nedovedou představit.

"Je lepší dvakrát vyhořet než se jednou stěhovat" (It is better to have your house burn down twice than to have to move once.) goes a Czech saying. read more »

More Czech beer in the US

Dominik Lukeš — Tue, 09 Jan 2007 09:49:08 +0000

KOMO-TV - Seattle, Washington - Business - Anheuser-Busch, Czech brewer strike deal Anheuser-Busch Cos. announced a deal Monday to distribute a beer brewed by Budejovicky Budvar. Both companies stand to benefit from the deal. But they also say it won't end their century-old legal fight over the Budweiser trademark. The companies both claim exclusive rights to use the Budweiser name, and their trademark dispute has tied up courts throughout Europe. But even as the lawyers battle it out, the two brewers will share common ground in pushing Budvar's Czechvar Premium Czech Lager to nationwide distribution in the United States.

Czech economic capital goes Dutch

Dominik Lukeš — Mon, 08 Jan 2007 09:49:47 +0000

Z cizinců drží nejvíce českého kapitálu Nizozemci - iDNES.cz Tuzemský kapitál patří z největší části do rukou Čechů. Ti drží celkem 59 procent všech investovaných podílů v tuzemských firmách. Z cizinců ukousli největší díl Nizozemci. Kapitál z Nizozemska ale do Česka plyne z velké části jen kvůli daňové optimalizaci.

59% of Czech capital value is in Czech hands and 25% of the rest is owned by the Dutch (followed by Germans, Austrians and Brits; with interest from Japan and Russia). read more »

Czech GDP to reach EU average by 2013

Dominik Lukeš — Mon, 01 Jan 2007 10:36:23 +0000

Český HDP může dosáhnout průměru EU v roce Český hrubý domácí produkt by mohl dosáhnout průměru Evropské unie v roce 2013. Uvádí to studie francouzského Střediska pro mezinárodní studia a výzkum (CERI) o situaci v zemích střední a východní Evropy.

According to a French study the Czech gross domestic product will reach the EU average by 2013. One of the strong features of Czech economy is its positive import/export balance.

Czech nuclear power to all households

Dominik Lukeš — Sun, 31 Dec 2006 14:31:40 +0000

Proud z Dukovan by letos nasytil všechny domácnosti - iDNES.cz Jaderná elektrárna Dukovany letos vyrobila nejvíc elektřiny ve své jednadvacetileté historii. Produkce ráno poprvé převýšila hranici 14 miliard kilowatthodin. Právě takové množství proudu spotřebují za rok všechny domácnosti v Česku, přiblížil mluvčí elektrárny Petr Spilka.

The 21-year-old Czech nuclear powerplant Dukovany exceeded 14 billion kiloWatt hours this year. Which is enough to supply all Czech households with electricity. read more »

New Year brings new logos

Dominik Lukeš — Thu, 28 Dec 2006 02:41:25 +0000

V Česku letos mizely lokální značky - iDNES.cz Češi si musejí zvykat na nové názvy firem, nová loga a firemní barvy. Letošní rok byl totiž ve znamení velkých změn, a to především v oblasti telekomunikací. Loga Vodafone vystřídala na billboardech Oskara a Český Telecom s Eurotelem zaplavily bubliny O2

Some names that have become part of the national consciousness recently and others that have been part of the scene for decades will be with us no more next year. Czech Telecom and Eurotel (its mobile branch) have become Telefónica O2, and Oskar, the third mobile operator, was gobbled up by Vodafone. read more »

U.S. turns to the Czech Republic for R&D

Dominik Lukeš — Thu, 28 Dec 2006 02:26:03 +0000

EETimes.com - U.S. turns to the Czech Republic for R&D LONDON — Over 60 percent of the 2006 foreign direct investments in the Czech Republic announced by U.S.-based companies are R&D projects in innovation industries, according to data collected by CzechInvest, an agency of the Ministry of Industry & Trade of the Czech Republic.

It is nice to see Czech Republic playing to its historical strengths. Research and small scale value-added manufacturing used to be the mainstays of the read more »

Beer a day

Dominik Lukeš — Wed, 20 Dec 2006 12:55:04 +0000

Czech beer output seen up at 19.8 million hectolitres in 2006 - Prague Daily Monitor Czech breweries are increasingly successful on foreign markets and the ratio of exports to total production grew to almost 18 percent in the first half of the year, against the global average of 6 percent. Germany was still the largest market for Czech beer exporters, covering 40 percent of the total volume. Slovakia came second. Vesely said output for the domestic market was likely to grow as well this year, mainly owing to a long, hot summer. read more »

'živnostník' shoulders Czech economy

Dominik Lukeš — Tue, 17 Oct 2006 10:57:54 +0100

Czech economy depends on self-employed, small firms - Prague Daily Monitor Brussels, Oct 16 (CTK) - No other EU economy is more heavily affected by the self-employed and small companies than the Czech Republic, according to data from Eurostat, the EU's statistical office.

There is a nice Czech word for the self-employed/home business: živnostník i.e. someone who runs a živnost which in means small business but evokes a subsistence connotation - since it is derived from the Czech word for life život. read more »

Czech's compare themselves to Austrians in standard of living

Dominik Lukeš — Thu, 10 Aug 2006 11:14:48 +0100

lidovky.zpravy.cz - Češi dotahují Rakušany. Pomalu Průměrná česká domácnost utratí za byt, služby a další nutné výdaje zhruba dvakrát méně než stejná domácnost v Rakousku. Příjem má ale třikrát menší.

This is an older (Nov, 2005) story but it jibes nicely with the Big Mac story. It says that: "The average Czech household spends half as much as their Austrian counterpart on housing, services and other essential expenditures. read more »

Prague wins post-communist Big Mac index race

Dominik Lukeš — Thu, 10 Aug 2006 11:08:14 +0100

Pražané si vydělají na Big Mac za 39 minut - www.lidovky.cz Nejlépe se ze všech hlavních měst postkomunistických zemí žije v Praze.

Prague landed a 41st position in worldwide ranking of capitals (out of 71) on the Big Mac standard of life index beating its Slovenian rival Lublana by two places (as opposed to last year). read more »

Lactalis lured by Czech cheese growth (or on Czech Cheeses)

Dominik Lukeš — Fri, 21 Apr 2006 03:38:54 +0100

Lactalis lured by Czech cheese growth French dairy giant Lactalis has enhanced its position in the growing cheese market of the Czech Republic by signing a deal to buy local firm Promil. ... It [the report] said cheese was an area ripe for investment. ... Euromonitor says quality has become increasingly important on the Czech cheese market, and has greatly improved in the last few years. Czech consumers, it adds, are very demanding: “The have many [cheeses] to choose from. They do not come back to products they were not satisfied with.” read more »

Czech unemployment high despite strong economy

Dominik Lukeš — Thu, 05 Jan 2006 10:41:54 +0000

Nezaměstnanost neklesá - www.lidovky.cz PRAHA Ani fakt, že se české ekonomice nebývale daří, nenapomáhá to snižování nezaměstnanosti. I v období, kdy hrubý domácí produkt rychle roste a ekonomika vykazuje výborné výsledky, měla země skoro osm a půl procenta nezaměstnaných. Jak je tedy možné, že u nás ani přes velké sliby vlády lidí bez práce příliš neubývá?

This is a partner news to the previous post. Despite fast GDP growth unemployment remains at 8.5%. How is this possible, the Lidové Noviny article asks. Some of the reasons listed are: read more »

Layoffs planned by big Czech firms despite economic boom

Dominik Lukeš — Thu, 05 Jan 2006 10:23:46 +0000

Velké firmy propuštějí - www.lidovky.cz Česká ekonomika láme rekordy, tisíce zaměstnanců velkých státních podniků ale přesto přijdou letos o práci. O další tisíce by se také měl snížit počet státních úředníků.

The headline says it all. Large state-owned companies such as Czech Rail and the Czech Post office as well as the Civil Service are planning large reductions in their workforce just as the economy is booming.

Czech economic performance in 2005 the best in 10 yrs -- Sobotka

Dominik Lukeš — Sat, 24 Dec 2005 01:04:06 +0000

Czech economic performance in 2005 the best in 10 yrs -- Sobotka - Prague Daily Monitor PRAGUE, Dec 22 (CTK) - Czech Finance Minister Bohuslav Sobotka said in an interview for CTK today that this year was the best for the country's economy in the past 10 years.

Well, isn't that good news for the end of a politically rather unsettled year?

Czech economy grows

Dominik Lukeš — Fri, 09 Dec 2005 09:18:21 +0000

Bloomberg.com: Europe Dec. 9 (Bloomberg) -- The Czech economy probably grew an annual 4.9 percent in the third quarter, the second-fastest pace in nine years, a survey of economists shows.The expansion in the $111 billion economy, based on the median estimate in a Bloomberg survey of 13 economists, would be down from 5.1 percent in the April-June quarter. The statistics office will publish the report at 9 a.m. today in Prague. ... Economic growth in the Czech Republic, the second largest of the EU's 10 mainly eastern European new members, trailed neighboring Slovakia in the quarter. read more »

Czech Republic is region's second best country to invest in

Dominik Lukeš — Mon, 28 Nov 2005 09:20:00 +0000

Czech Republic is region's second best country to invest in--Atradius - Prague Daily Monitor (PDM staff with CTK) 29 November - The Czech Republic has become the second most popular destination for foreign investment among countries in Central and East Europe, a poll by insurer Atradius among European companies' top managers showed.

Good news as much for the Czech national character as for the economy.