Morning News: Monday, August 1, 2022

Charles Bridge panorama

If your day doesn’t start until you’re up to speed on the latest headlines, then let us introduce you to our new morning fix. 


  • The board of the Czech National Bank will most likely decide to keep the base interest rate at 7 percent at a meeting scheduled for next Thursday. However, the situation is hard to call and some predict that a further rise may in fact be announced. The current interest rate is the highest seen in the country since 1999.


  • The average old-age pension could increase by about CZK 850, regularly indexed from January. With child-raising bonuses, it could total around CZK 19,500. According to the Labour Minister Marian Jurečka, it will be clear in September how much of the added amount should go to the solidarity and merit part of the pension.


  • The Municipal Court in Prague declared bankruptcy on the property of Čezeta Motors. The company produces electric scooters Čezeta in Prostějov and has been in insolvency proceedings since last February due to millions of dollars in debts.


  • The European Commission has approved a multi-year €152 million Interreg program meant to foster cooperation and development between the German state of Saxony and Czechia. The EU’s Interreg scheme was established in 1990 and is part of the wider effort to help economically weaker regions catch up.


  • The Czech government has backed allowing its fighter jets to protect neighbouring Slovakia’s air space from September, the Defence Ministry said on Wednesday. Slovakia has sought help from its NATO allies as it looks to ground its Russian-made MiG-29 fighter jets in August under long-standing plans to modernise the military.

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