Czech petrochemical giant Unipetrol announced its financial results for the second quarter of 2018 on Friday. The company recorded a net profit of 2.9 billion crowns, down 687 million crowns in annual terms. The group’s total revenues reached 31.1 billion crowns, a year-on-year decrease of 44 million crowns.
Czechia is not famous for making world-class cheese. There is, however, one notable exception: a very peculiar local type of cheese made in Moravia called „Olomoucké tvarůžky" or, more colloquially „tvargle". It has been produced in the region around Olomouc for centuries and is famous for its aromatic smell.
Several hundred green activists protested at the Bílina coal mine in the
north of the country on Saturday.
Two dozen of them managed to enter the mine in the early hours of the morning and chained themselves to the excavator. When other protesters tried to force their way into the mine the police intervened, detaining over 170 people.
The protest was organized by the group Limity jsme my which is striving to get the mine closed.
The annual general meeting of state-controlled power producer ČEZ proved to be a contentious one, lasting a record 14 hours and into the wee hours of Saturday. In the end, it saw the ouster of three ČEZ supervisory board members, including its chairman, in a political power play. The AGM also agreed on a dividend pay-out which fell short of demands by some influential minority shareholders.
Annual timber production in Czech forests in 2017 increased by one tenth on
the previous year to a record 19.4 million cubic metres, according to data
released on Wednesday by the Czech Statistics Office. It is the highest
figure since 2007, when hurricane Kyrill devastated more than 100,000 cubic
metres of the country’s forests.
Around three-fifths of the timber production consisted of trees infested by the bark beetles or tress damaged by recent storms. Coniferous trees amounted to 90 percent of the overall timber production. The highest timber production until now was recorded in 2007, when hurricane Kyril devastated over 100,000 cubic metres of wood.
Czech car companies and car-parts suppliers saw record turnover last year
amounting to 1.1 trillion crowns (around 39 billion euros), which
represents an increase by seven percent on the previous year, the Czech
Automotive Industry Association announced at a press conference on
Czech car makers’ exports increased by six percent last year to 918 billion crowns. Some 84 percent of cars made in the Czech Republic are exported to the EU, mainly to Germany, Great Britain and France.
Czech adjusted industrial production fell in April compared with the same
month in 2017.
Factoring in the difference of two working days, the annual drop in production was 0.2 percent year-on-year. Unadjusted, there was an increase of 5.5 percent. The main increases in production were focused on auto production, manufacturing of electrical equipment and production of metal products.
The value of new orders rose at an annual rate of 0.6 percent. While there was a slight drop in foreign orders this was more than compensated for by a 2.9 percent rise in domestic orders. This confirms that Czech domestic demand is still strong and one of the biggest factors fuelling economic growth.
The Czech construction sector should grow by around 5.1 percent this year,
according to figures released on Monday by the company CEEC Research.
The growth is 0.8 percentage point higher than companies predicted at the start of the year. However, many firms say they are still being held back by a shortage of workers.
Growth in 2019 is expected to slow to 3.7 percent.
The Czech construction sector was one of the last to emerge out of recession with its performance in recent years often lagging the rest of the economy.