News
The CNB continues to tighten monetary policy
As expected, the central bank raised its key repo rate from 0.50% to 0.75% at its August meeting. Although the bank board discussed a 50bp hike, as proposed by the new CNB forecast, in the end it preferred a gradual normalisation of monetary policy. According to Governor Rusnok, the CNB should continue to pursue gradual normalisation for the rest of the year. While the CNB forecast calls for a repo rate of 1.50% at year-end, we expect 1.25% due to the cautious approach of central bankers. However, we already expect a repo rate of 2.25% for end-2022, while the CNB expects 2%. The difference is mainly our expectation of a stronger economic recovery, with a slightly weaker koruna.
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Automatic transcriptions of beneficial owners do not work as they should
The new Act on the Register of Beneficial Owners introduced a useful novelty that was supposed to simplify the life of registrants: automatic transcriptions of beneficial owners. Although the law came into force on 1 June 2021, automatic transcriptions still do not work properly. Registrants are often threatened with penalties even if they have not made any mistakes.
Advertising agencies take note! The advertising preparer is responsible for the compliance of the advertisement with the law
Stricter regulation of healthcare advertising has been in force since the end of May. This applies in particular to medical devices, such as eyeglasses, nose drops, prosthetic devices, cough lozenges, patches and medical technology. However, some seemingly ordinary products, such as cosmetics or other “health-targeted” products, may also be affected by the new rules.
A quick look at Avast's latest Global Risk Report for SMBs
The report shows how likely business users in specific countries are to face various online threats
We recently released our Avast Global PC Risk Report H1 2021 Snapshot and there’s good information that small and medium businesses (SMBs) can use to better understand what the security landscape is looking like in the Covid-19 era.
If you’ve never read a threat report, they can be a little daunting, with lots of graphs and data. But in there, you’ll find information based on Avast’s global view into the threat landscape which you can use to help guide your thinking about how to better protect your business.
Strategic Directions for Czech Economic Policy
- Transition to High-Tech Manufacturing and Exports
- The City Campus as Idea Factory
- Government Programs and Processes That Drive Innovation
- Government as a Competitive Advantage, including Digitization
Advocacy Priorities for 2023
Technology, People, Infrastructure
Actions Recommended in Areas:
1. Establishing Policy Objectives for Research.
2. Research Investment and Cooperation. Big Bets (Key Technology Projects).
3. Establishing Databases for Tracking Public Policy Outcomes.
4. Public Procurement as an Innovation Tool.
5. Immigration of STEM Talents.
6. Digitization of Immigration.
7. Adult Reskilling and Upskilling.
8. Digitization of Land Use.
9. Infrastructure Development, including Technology Parks.
Read the documents in English and Czech.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
