The Prague Stock Exchange ended the first half of this year with a loss of 4.4 percent, while it increased by 52.6 percent for the entire last year. Radim Fiala, the deputy chairman of the SPD, has become the new chairman of the supervisory board of ČEZ. The state energy group ČEPS recorded record investments of over ten billion crowns and a profit of 6.8 billion crowns last year. New rules for cryptocurrency companies in the EU came into effect in July, and banks are adjusting the terms of savings products in response to the Czech National Bank's interest rate hike in June.

Shares on the Prague Stock Exchange weakened in the first half of this year. The PX index lost 4.4 percent from the beginning of January to the end of June, falling to 2,567.5 points. Škoda Doosan Power shares rose the most this year, while Photon Energy shares fell the most. However, the Prague Stock Exchange rose by 52.6 percent for the entire last year.

Radim Fiala, the deputy chairman of the SPD coalition movement, has become the new chairman of the supervisory board of the energy group ČEZ. He was elected by the other members of the board, who appointed him to the head of the board at the beginning of June. The supervisory board, among other things, appoints and dismisses members of the company's board of directors.

The state energy group ČEPS recorded a net profit of over 6.8 billion crowns last year, an increase of 35 percent year-on-year. The group increased its investments to almost 11 billion crowns, which was previously the historical maximum. Among the most important investment projects of last year was the commissioning of the new Milín 400 kV substation and the reconstruction of other substations throughout the country.

From July, stricter rules apply in the European Union for companies that trade in cryptocurrencies. Hundreds of companies that do not meet the new licensing requirements must cease operations or restructure. The MiCA regulation introduces a unified regulatory framework for the entire EU market for crypto assets.

From July, banks are adjusting the terms of savings products in response to the Czech National Bank's interest rate hike in June to 3.75 percent. mBank is introducing an interest rate of 4.21 percent per annum for deposits up to 250,000 crowns. At the same time, Banka Creditas is transitioning to a new technological platform, Creditas One, during July, which may temporarily limit some services for clients.

A survey by J&T Bank shows that almost half of Czech companies plan to use acquisitions as a key strategy for further development this year. Companies are increasingly combining their own capital with bank financing, and this trend is strongest among companies with revenues of over 500 million crowns. The biggest obstacle to growth remains the shortage of qualified workers and generational change in family businesses.

gnews.cz - GH

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