Doing business

Articles, interviews, research & studies, press releases from and about AmCham member companies related to the Czech business environment.

Managing business

Articles sharing best practices and knowledge of managing a business. Shared expertise and experiences of our community are available in this section to raise the standards of operational excellence.

Legal Alert - Impact of Coronavirus pandemic and extraordinary measures of the Slovak Government on business relations

30.03.2020, Company: Weinhold Legal, v.o.s. advokátní kancelář

Force majeure regulated in the contract
Circumstances excluding liability (“Force Majeure“ regulated by the Civil Code)
Subsequent impossibility of performance
Fixed obligations
Recommendations
News

Tags: Law | Economics | Health | Retail |

Fact Sheet Corona: Governmental Measures in CEE

30.03.2020, Company: bnt attorneys-at-law s.r.o.

Download up-to-date information on governmental measures in relation to the Coronavirus pandemic (COVID-19) in Central and Eastern Europe. Travel restrictions, service closures and governmental support in Belarus, Bulgaria, Czechia, Estonia, Hungary, Estonia, Latvia, Lithuania, Poland and Slovakia at a glance. Updated daily.

Czech National Bank Review: The big winner is the koruna

30.03.2020, Company: ING Bank N.V., organizační složka

The Czech National Bank cut rates by 75bp today but the total package of measures disappointed. After the latest MinFin comments, the CNB planning on quantitative easing appeared as a done deal. But the CNB indicated it is not on the table now. All this is positive for the koruna but less positive for Czech Government bonds.

Tags: Economics | Finance |

Central bank has cut interest rates by another 75bp

30.03.2020, Company: Komerční banka, a.s.

The Czech National Bank cut its key repo rate by a further 75bp at last week’s monetary policy meeting. While this was in line with market expectations, analysts expected a smaller decrease of 50bp. A poorer growth outlook for the Czech economy due to the COVID-19 pandemic remains the main reason for the loose monetary policy. The central bank also decided to decrease the counter cyclical capital buffer to 1% starting on 1 April and is prepared to buy government bonds in order to stabilise the financial sector. Once again, the bank declared its readiness to defend the koruna – which is weakening significantly – through the FX intervention. It did not cite a trigger value, but one was set internally. We forecast another rate cut of 50bp in the event of more severe economic impacts. As the cuts are state dependent, they can be implemented any time.

Tags: Finance |

Microsoft HealthBOT for COVID-19.

30.03.2020, Company: MICROSOFT, s.r.o.

MS Health team has created a BOT that is intended to help medical institutions to deal with increased number of questions around COVID-19.

It is a part of The Microsoft Health BOT project that is designed to enable partners and customers to easily create intelligent a compliant healthcare virtual assistants and health bots.

The BOT currently offers 3 COVID-19 scenarios: COVID-19 assessment (sourced by CDC), COVID-19 FAQ (sourced by CDC) and COVID-19 metrics.

Tags: IT | Health |

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Summary of all applicable measures in the Czech Republic during the state of emergency

31.03.2020, Compete

The list of measures has been updated continuously. Last update March 31, 2020.

Measures approved by the Czech Government based on the proposal of the Ministry of Labour and Social Affairs to help Czech employees and employers mitigate the consequences of the COVID-19 epidemic

25.03.2020, Compete

As of March 23.

Coronavirus (COVID-19) - latest information

20.03.2020, Marketplace

Dear Business Friends

we would like to inform you that our global website offering global recommendations and measures dedicated to specific cases and countries is updated on daily basis.

Should you have any further questions please do not hesitate to contact us.

Your Bird & Bird Team

Tags: Health | Law |

AmCham Comments on Government Programs to prevent unemployment from temporary, severe loss of revenue caused by the coronavirus

19.03.2020, Compete

Our view is that the strict containment measures adopted by the Czech Republic are necessary not only to contain the spread of disease in order to prevent a breakdown in the healthcare system and consequent greater loss of life, but also to avoid the longterm economic damage a significant outbreak could cause. Therefore, we propose the government pursue immediate economic measures that will mitigate the damage of virus and its containment and then prepare regulatory changes that can make recovery swifter and more sustainable.

1) Pass some form of the Ministry of Social Affairs proposal by March 20.

2) Consider introducing renewable time limits and a salary cap for government contributions.

3) Consider moving from a kurzarbeit-style program to direct company payments if the containment period lasts more than a month.

The first 2020 Workforce Report shows demographic and internal migration trends strengthening

25.02.2020, Amcham

AmCham's series of workforce reports are constructed to help businesses plan investment. The reports are structured to track local trends and compare them to other countries in the EU. This helps companies understand the comparative value delivered by the Czech Republic's top asset: its workforce.

Braun: Judges ask for exact records of working hours, but usually it is nonsense

26.09.2019, Compete

COMMENTARY FROM ARTHUR BRAUN | The Court of Justice of the European Union recently published a decision in proceedings on a preliminary issue, stating that EU member states must require employers to record all employee working hours (C-55/18). This case involved a suit filed by a Spanish union organization in the banking industry, not exactly the traditional players in unions fighting against exploitation of the working classes. This decision did not receive wide publicity in the Czech Republic, but in Germany and elsewhere in Europe it did.

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Doing business

Articles, interviews, research & studies, press releases from and about AmCham member companies related to the Czech business environment.

Managing business

Articles sharing best practices and knowledge of managing a business. Shared expertise and experiences of our community are available in this section to raise the standards of operational excellence.

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