It may seem that the Czech economy has not yet recovered from the covid pandemic and its consequences, however, companies are already looking ahead, continuing with reaching their goals, innovating. Recruitment has started in most sectors to a similar extent as it was less than two years ago. Or even in some sectors, the recruitment pressure is even stronger than before! Companies face a difficult task: they need to address and attract the right candidates and retain both these new and existing talents and key employees.

Erste Social Finance Holding, a joint venture of Erste Group and ERSTE Foundation, recently launched “Quasi-equity”, an innovative social finance instrument. This new funding opportunity, which has received financial support from the European Union, helps social organisations grow and scale up their impact by strengthening their equity. Provided in the form of a so-called “qualified subordinated loan”, Quasi-equity is available to social enterprises, non-profit and non-governmental organisations in Austria, the Czech Republic, Slovakia, Serbia, and Croatia.

The Municipal Court in Prague issued decision ref. no. 6 Af 20/2020-28 determining that income from a short-term rental made through platforms like Airbnb does not constitute a rental of immovable property, but provision of accommodation services.

Inflation in August again surprised significantly upward above all expectations. Services are becoming more expensive, but price increases are running across the consumer basket. Rising inflation may be largely a temporary phenomenon, but fears of rising inflation expectations are likely to force the CNB to tighten monetary policy more quickly. At the end of September, we expect the CNB's key rate to increase 50 basis points to 1.25%.