Czech news in brief for February 5: Thursday's top afternoon headlines

Steelworker unions in Ostrava held a major demonstration against European Union environmental regulations, specifically targeting the expansion of carbon emission permits (ETS 2). Protesters and union leaders argue that rising energy costs and "Green Deal" policies are threatening the viability of the local steel industry. Prime Minister Andrej Babiš attended the rally in support, calling for a pragmatic approach to the green transition to protect regional industrial jobs and competitiveness.

Czech lawmakers have proposed a bill to reduce social security contributions for self-employed individuals (OSVČ) starting this year. The legislation, supported by the ruling coalition, aims to lower the assessment base from 40 to 35 percent of the average wage. Under the proposal, any higher payments made since January will be treated as overpayments. Business owners can apply to the Social Security Administration for refunds through the end of 2026.

The latest Big Mac Index from The Economist reveals the Czech koruna is undervalued by 10.2 percent against the U.S. dollar. While a Big Mac costs approximately USD 5.69 in the United States, its price in Czechia suggests a theoretical exchange rate significantly lower than current market values. This gap indicates a disparity in purchasing power parity, suggesting the koruna remains one of the more undervalued currencies in the Central European region.

Czech bookmakers anticipate a record-breaking betting season for the upcoming Winter Olympics, with total wagers estimated at CZK 1.2 billion. The surge is driven by high expectations for the national ice hockey team and star athletes like Ester Ledecká. Betting agencies report that the favorable time zone and significant medal ambitions are attracting even "casual" bettors, potentially surpassing the betting volumes seen during previous Winter Games in Beijing and Sochi.

A new exhibition at Prague Castle’s Rožmberský Palace showcases gifts received by President Petr Pavel and First Lady Eva Pavlová throughout 2025. The collection features a diverse range of items, including luxury jewelry, custom clothing, and symbolic souvenirs from regional visits. Notable items include a specialized glass pistol, emphasizing Czech glassmaking traditions. The exhibition, titled "Gifts for the President," is open to the public for free until the end of the year.