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2020-04-03  12:31
CIJEurope.com
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Company News

Adidas agrees to pay rent in PR disaster

At the beginning of the week, the global shoe retailer Adidas made the controversial announcement that it would be taking advantage of the German government's legislative initiative to allow stores to defer rent payments for April. It didn't take long for the highly profitable company to realize it had stuck its foot in its mouth. By Thursday, the company's crisis manag...
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2020-04-03  12:29
CIJEurope.com
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Deals

KanAm buys Danske Bank headquarters in...

KanAm Grund Group has acquired the King Square site in Copenhagen for the German pension fund Ärzteversorgung Westfalen-Lippe. The 49,000 sqm portfolio of lettable space is located next to the the central King’s New Square (Kongens Nytorv) including a portfolio of 15 buildings built between 1796 to 1971. All but one (a parking garage) are office buildings occupied by Danske Bank which...
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2020-04-03  12:27
CIJEurope.com
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Company News

Galeria Karstadt Kaufhof placed in...

The German department store chain Galeria Karstadt Kaufhof filed for administrative insolvency in order to give it time to restructure. The company has been in trouble for some time as the department store format has come under intense pressure from rapidly changing shopping habits and the rise of on-line retail. But the closure of all non-essential stores beginning in mid-March has c...
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2020-04-03  12:23
CIJEurope.com
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Company News

Moneta acquires Wüstenrot's...

The parent company of Moneta Money Bank has completed the acquisition of Wüstenrot's construction savings bank and its mortgage bank for a reported €175m. Regulators have approved the deal for Wüstenrot stavební spořitelny a.s. and Wüstenrot hypoteční banky, which the Moneta Group requested in January. Wüstenrot's chairman Michael Pupala retained his seat in the board of dir...
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2020-04-03  12:06
CIJ Serbia
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Events

Serbian to speed up road transit of goods

The Serbian government has abolished the practice of escorting trucks in transit through Serbia as of today to enable faster transport of goods to their final customers. In announcing the move, Minister of Construction, Transport and Infrastructure Zorana Mihajlovic said this was in line with rulings by the European Commission on facilitating the transport of cargo. These call for th...
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2020-04-03  12:03
CIJ Serbia
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Economy

Slovenian government rolls out €3bn...

The Slovenian government has pushed through a €3bn financial aid package aimed at helping both the economy and the country's residents overcome hardships caused by the crisis that caused the coronavirus crisis. One of the key measures aims to maintain employment levels by offsetting 80 percent of the basic salaries of staff who are unable to work because of widespread closures. T...
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2020-04-03  12:00
CIJ Serbia
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Economy

Greek parliament expected to approve...

The Greek government has directed parliament to approve proposals to increase the budget by €5bn to fund its economic support measures for businesses and citizens affected by the virus coronary pandemic. The Budget Act it's proposed would bolster economic measures already enacted to limit economic and social damage many fear now threatens. The country's fiscal council approv...
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2020-04-03  11:54
CIJ Serbia
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Economy

Croatia raises salary support to €525 per month

Croatian Prime Minister Andrej Plenkovic has announced new measures to safeguard jobs that go further than his government's initial proposals on March 17. Under the current plan, the state is helping 65,000 companies by paying them €435 per month per employee (net) for the months of March through May. That aid is currently supporting 400,000 employees. The government's new p...
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2020-04-03  10:03
CIJEurope.com
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Company News

Hyundai in Nošovice to ship transmissions to...

The Czech Hyundai plant in the town of Nošovice may have put off the resumption of production until April 14, but Kia Motors Slovakia continues to plan to turn its production lines back on as of April 6. The Slovak plant in Žilina has been discussing its move with the Czech plant, which supplies it with transmissions for its automobiles. This will require 180 Czech employees to return...
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2020-04-03  10:01
CIJEurope.com
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Economy

Hassle-free mortgage deferrals for Czech...

People and companies in the Czech Republic will most likely be able to defer mortgage payments for up to six months. The government approved a proposal by the finance ministry that would allow people to choose whether to stop payments for three or for six months. Banks would not investigate the requests, which would have to state that they were because of the pandemic, nor would they ...
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