In Business News this week: Mining group NWR comes up with better than expected results but crunch meeting over restructuring still looms; tax offices are getting tough over dubious breaks for research and innovation; |Slovak government jumps in over Slovenské Elektrárne sale; Swiss developer plots arbitration over Prague land purchase; and Czech Railway showcase service could hit rails.
Foreign Minister Lubomír Zaorálek and Trade Minister Jan Mládek on Thursday met with the country’s business leaders to discuss the impact of the sanctions against Russia and consider alternative outlets for Czech export products. Minister Mládek said that while seen on a macroeconomic scale the potential losses were not significant firms entirely dependent on the Russian market could have serious problems. According to the minister Czech exporters might find new opportunities in Belorussia, Kazakhstan or Azerbaijan. The Czech foreign and trade ministries have been cooperating to help minimize the impact of the sanctions on the export-dependent Czech economy.
The government working group tasked with cushioning the impact of the Ukraine crisis and escalating sanctions on Czech companies has proposed state help for firms putting employees on short-time work as its main recommendation. The group argues such help could avoid massive lay-offs if the worst happens with the framework in place for future emergencies as well as the current one.
Czech students are sought after not just by local universities and colleges, but also by their European counterparts as student numbers dwindle across the continent. But while they are faced with more choice, Czech students also face a more difficult jobs market and the need to mark themselves out from the rest. Chris Johnstone looks at the evolving higher education market.
The US software company Red Hat has expanded its branch in Brno, and will hire another 350 workers, the head of the branch, Radovan Musil, told the ČTK news agency on Wednesday. Red Hat, which specializes in open-source software, set up their operation in Brno in 2004, and now employs around 600 people in the Czech Republic. It has acquired another 3,800 square metres of office space in the city, making it the firm’s largest development hub outside the US.
The Czech government is considering supplying arms to Kurdish forces in northern Iraq to assist their struggle against the jihadist group Islamic State, Czech Foreign Minister Lubomír Zaorálek has said. The move is now being discussed by several Czech ministries along with plans to increase the country’s humanitarian aid to the region.
In Business News this week: Agriculture Ministry to help producers affected by Russian sanctions; Czech unemployment remains unchanged despite 11,000 new jobs; Czech crown falls to five-year low against euro; central bank to curb capital outflow from foreign banks’ Czech subsidiaries; and beer productions rises slightly between January and June.
Jana Ciglerová: Americans say their lives are fantastic, Czechs say everything is terrible – neither is true
Study: Demand for new flats in Prague set to keep outstripping supply
“There is good, better and then there is the USSR.” – New book depicts life in communist Czechoslovakia through memories of people who experienced it
1945-1948: From liberation to Stalinism
‘The fat lady sings’: Prague’s State Opera marks restoration to former glory with gala concert