Czech news in brief for May 9: Friday's top headlines

The Prague Stock Exchange closed at a record high Friday, with its PX index rising 2.01 percent to 2,145.99 points, surpassing its March 27 peak. The rally was driven by strong gains in banking stocks, including Erste Bank, Moneta Money Bank and Komerční banka. Total trading volume exceeded CZK 950 million, well above average. The PX index, calculated since 1994, has rebounded steadily since an April dip tied to U.S. tariffs. The crown weakened against major currencies.

The Czech National Bank (CNB) on Friday lowered its 2025 public finance deficit forecast to 2.1 percent of GDP, down from 2.4 percent projected in February. The improvement reflects ongoing fiscal consolidation, following pandemic- and energy crisis-driven deficits. However, the CNB expects the deficit to rise to 2.3 percent in 2025 due to higher defense spending. Last year’s deficit dropped to 2.2 percent from 3.8 percent the year before. The full monetary policy report will be released May 16.

Newly elected Pope Leo XIV, formerly Robert Francis Prevost, chose a name rich in Church history, Czech historians said Thursday. Drawing inspiration from Popes Leo the Great and Leo XIII, the new pontiff’s calm strength and discreet demeanor reportedly influenced the conclave’s decision. Historian Tomas Petracek said Leo XIV’s emphasis on peace in his first address signals a desire for unity and echoes his predecessors’ legacies. Petracek called his demeanor a “decisive element” in his election.

An online petition to rename Moskevská Street after Jiří Bartošek, late actor and longtime president of the Karlovy Vary International Film Festival, has drawn 2,000 signatures by Friday noon. Bartošek died Thursday at 78. Mayor Andrea Pfeffer Ferklová said the proposal will be considered, though renaming the busy street would be complex. She suggested a plaza near the Thermal Hotel, central to the festival, might be a more suitable tribute.

The Russian Embassy in Prague on Friday condemned Czech President Petr Pavel’s comparison of modern Russia to Nazi Germany. Speaking at a concert marking 80 years since World War II's end, Pavel cited Russia’s aggression in Ukraine, accusing it of violating international law, invading a sovereign nation, and waging a prolonged war of aggression. The embassy called his remarks cynical, highlighting Russia’s role in defeating Hitler and liberating Czechoslovakia.

Czech leaders welcomed the election of Pope Leo XIV, the first American pontiff. Prime Minister Petr Fiala wished him strength and wisdom, and President Petr Pavel expressed relief at the swift conclave decision. Prague Archbishop Jan Graubner welcomed the new Pope, praising his pastoral openness, missionary experience, and wisdom. Czech church leaders expressed hope that his leadership would bring peace and unity to the Church and the world.

Czech President Petr Pavel said Russia now behaves in some ways like Nazi Germany, citing its disregard for international law and aggression in Ukraine. Speaking at Prague Castle on the 80th anniversary of WWII’s end, he urged voters to back parties serious about security. Pavel also warned against rising authoritarianism and historical distortion, referencing protests held earlier in the capital.

According to Forbes, Renáta Kellnerová remains the richest person in the Czech Republic with a fortune of CZK 378 billion. She leads a largely unchanged top three, followed by Daniel Křetínský and Karel Komárek. Arms magnate Michal Strnad jumped to fourth after doubling his wealth. The top 100 Czechs now hold CZK 2.9 trillion, with newcomers driven by the defense and gaming industries.

A hotel ceiling collapsed in Čeladná, injuring three people, who were hospitalized with moderate injuries. Firefighters rescued two people trapped under the rubble. The building, which housed 20 people, was evacuated, and police are investigating the cause, including whether an explosion preceded the collapse. Authorities reported no further danger to the area, and the incident is under investigation.

Over 400 participants took part in a historical reenactment of the Prague Uprising, recreating the fierce battle in Prague 4 that occurred in May 1945. In period uniforms, military history clubs commemorated the fight against retreating German troops. The event, held on a national holiday, marked the 80th anniversary of the uprising, honoring those who fought during the final days of World War II.