From the monthly archives:

January 2008

Czech mortgage market grew by 41 pct in 2007

January 28, 2008

According to the latest Local Development Ministry data mortgage banks on the Czech market granted 83,344 new mortgage loans worth over Kc142bn to individuals in 2007.
In Prague alone, mortgage banks provided 24,000 loans worth Kc54.5bn and in the second largest Czech city, Brno, Kc13.4bn worth of them.
Overall, the volume of mortgage loans granted to individuals, [...]

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Prague bourse down 4.6 pct to 15-mth low

January 21, 2008

As the crises deepens on the world financial markets, share prices on the Prague Stock Exchange (BCPP) sank to the lowest level in over fifteen months. The PX index lost 4.62 percent to 1,489.6 points, according to the bourse results.
Power company CEZ, the most traded title on the bourse, shed over 5 percent to Kc1,170.
Dealers [...]

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Prague bourse lost everything earned in 2007

January 17, 2008

Panics of global markets shattered Prague bourse, it lost all earnings from 2007. Further, what started as morgage crises in US is comming with real influence to Eastern European economies. Financial crises will truly influence the development not only in 13 countries of Eurozone but also the faster growing Eastern European ones. New assumptions of [...]

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Czech National Bank governor expects inflation at 3 pct in 18 mths

January 16, 2008

The recent acceleration of the Czech Republic’s inflation is rather the result of the coincidence of two factors and will soon end, Czech National Bank governor Zdenek Tuma said at the Euromoney Conference in Vienna today.
“We expect that within 12 to 18 months, inflation will again be around 3 percent,” Tuma said.
The Czech Statistical Office [...]

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Prague bourse extends this year’s loss to over 10 pct

January 15, 2008

The Prague bourse fell further today and the loss accumulated since the beginning of this year already exceeds 10 percent, as the PX index shed 1.9 percent to 1,620.2 points, its lowest close since March 6, 2007, the bourse said.
The biggest loser, Erste, dropped 4.44 percent to Kc1,075. developer ECM lost 2.98 percent to Kc846.5 [...]

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Czech crown setting a new record to USD

January 11, 2008

The Czech crown opened at an all-time high to the dollar today, at Kc17.48/USD, on the dollar’s fall in world markets, Patria Online server said.
Before 10:00 a.m. the crown weakened slightly to Kc17.51/USD. The unit is trading at Kc25.88/EUR, 6 hellers away from its record high to the euro.
The dollar started to lose already on [...]

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2007 was a top year for mortgage banks

January 10, 2008

2007 showed a record 50% growth in newly provided mortgage loans in the Czech Republic.
Ceska sporitelna and Hypotecni banka, the largest mortgage banks on the Czech market, together lent over Kc85bn in mortgage loans last year, and according to estimates of experts, all banks active on the domestic market provided Kc150bn in mortgage loans last [...]

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