Michal Kubala

The Czech government approved an overhaul of public media funding that critics say may reduce their independence and budgets.

The Czech prime minister heightened his public criticism of the central bank’s tight monetary policy, saying its latest move to raise interest rates will hurt the economy.

Czech Prime Minister Andrej Babis said the president won’t be part of a NATO summit team, escalating a spat that’s already divided the nation’s top leadership for months.

APS Holding is preparing to step up purchases of distressed debt as it sees higher interest rates and real estate stress starting to dent bank balance sheets.

Daniel Kretinsky, the Czech billionaire who is set to become the largest shareholder in West Ham United, is considering making a roughly £100 million ($132 million) loan to help the English football club buy new players, people familiar with the matter said.

Slovakia is set to revive primary aluminum production at a plant that was once one of Europe’s biggest producers of the metal.

Czech billionaire Michal Strnad is in talks to buy a minority stake in Pirelli & C. SpA from its largest shareholder, according to people familiar with the matter, in a deal that could help ease pressure over China’s role at the Italian tiremaker.

Czech interest rates are likely to remain elevated for the “foreseeable future,” with the odds pointing to a further hike in borrowing costs, Moneta Money Bank Chief Executive Officer Tomas Spurny said.

Czech billionaire Michal Strnad became one of eastern Europe’s wealthiest individuals thanks to the blockbuster listing of his defense company earlier this year. Now, the 33-year-old arms tycoon is putting some of those proceeds to work by taking a 14% stake in Pirelli SpA, one of Italy’s corporate crown jewels.

A new generation of superrich is helping drive a shift in the local economy as they outgrow their home market.