Škoda Auto is leaving the crown, companies are buying steel, and thousands of flats will be vacated in Prague
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Czech crowns are disappearing from the coffers of domestic companies. Not that companies are fundamentally poor, but the national currency is gradually being replaced by euros. An example is Škoda Auto. It will switch to the single European currency from next year. In the item “functional currency”, which indicates the primary currency in the accounting, the carmaker will no longer hold crowns, but the euro. The reason is, among other things, the growing share of electric cars in production. This is far from the only issue in the Czech Republic, as the importance of the euro continues to grow.
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Builders are facing a critical shortage of steel, they mainly lack rolled products and concrete results. Therefore, there is a risk of slowing down or even complete cessation of stopped buildings. The reason is the very or interrupted supplies of iron ore from Ukraine, from where the Czechia imported around five million tons of material last year. The supply chains of some semi-finished products from Russia are also interrupted. The price of steel is therefore rising sharply.
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No major outflow of Ukrainian workers has occurred, the co-owner of the development company Gartal Rostislav Petchenko, a native of Kherson, describes the situation on the construction sites. He sees the influx of refugees positively. “I know of a lot of vacancies where the requirements already apply do not correspond to what we were used to a month ago. For twenty thousand gross, no auxiliary force could be found. Now yes, “says the developer and believes in the widespread use of Ukrainians.
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Norway is the most advanced electric vehicle country in the world. We therefore set out to explore ten rumors of a great e-system up close. Yes, one Tesla after another runs on Norwegian roads, which is a balm for the eyes and ears. However, the charging infrastructure has brought us back to a tougher reality.
Russian President Vladimir Putin announced on Wednesday that Russia would no longer take euros or dollars for gas intended for Europe and was going to demand payments in rubles. Russia is set to introduce measures to cover “enemy countries”, including the Czech Republic, in the coming days. “It is such a masterpiece that the Russian side will stop wasting its own euros in support of the ruble and will support it with foreign ones,” says Petr Bartoň, chief economist of the Natland investment group. “It simply came to our notice then. The ruble can protect it from further decline for a while, but only very artificially and only to the eye, “he added.
When the news of the death of a 56-year-old businessman, investor and owner of the PPF group Petr Kellner in a helicopter accident in Alaska arrived in the Czech Republic a year ago, it was a huge shock not only for the financial world. “A person has left who has left a very strong mark on our modern business and social history. There will be a huge shortage here, “for example, the head of Česká spořitelna, Tomáš Salomon.
The Allwyn lottery company belonging to the KKCG Karel Komárek group can once again look forward to the results of OPAP. The Greek lottery, which Allwyn controls, is improving all financial indicators. The Czech group can thus earn approximately six billion crowns in dividends and extraordinary payments to shareholders. Allwyn spokeswoman Dana Dvořáková confirmed the information to the E15 daily.
Czech business is beginning to absorb the refugee crisis. The data of the Ministry of Labor, which has the E15 daily exclusively available, show that domestic companies have employed over 7,400 Ukrainian refugees since the beginning of the war. In total, there are over 270,000 newly arrived Ukrainians, mostly women and children.
UiPath, Productboard or PriceFx. These are examples of unknown startups years ago, which were initially bet on by investors from Credo Ventures. The company was co-founded by Ondřej Bartoš more than ten years ago. “I will get more projects on the Czech investment market than I should get,” says partner Credo Ventures in an interview with the E15 daily. Ondřej Bartoš will speak this week at the International E-commerce Summit, organized by the E15 daily.