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.
In Business News this Friday: Industry & Trade Minister warns up to 1,000 could be lost due to EU sanctions; Ahold gets ready to transform former Interspar supermarkets; Vítkovice Steel will shut down Ostrava plant; Travel Service will no longer offer charter flights to Bangkok; Czechs take healthy interest in their finances.
The Czech Republic has secured another major foreign investment with the South Korean car parts maker Hyundai Mobis signing a deal to build a factory outside Ostrava. It’s the third large South Korean investment project in the Czech Republic – but new EU rules on incentives could make it harder for the country to attract big foreign investors in the future.
The European Union on Tuesday agreed on the toughest new sanctions so far against Russia. The move comes after the country was charged it had supplied heavy weapons to rebels in Ukraine and following outrage that international investigators were still being prevented from visiting the crash site of MH 17.
The Czech Republic’s Export Bank and Slovakia’s Eximbank are to sign an agreement on cooperation in supporting joint Czech and Slovak business ventures abroad. The agreement, which is to be signed in the Slovak capital Bratislava on Tuesday, aims to bolster the two countries’ positions particularly on markets in the Far East where the now defunct label Made in Czechoslovakia still has a high brand awareness. The head of the Czech Export Bank Karel Bureš told the daily Mladá fronta Dnes that the agreement did not envisage the revival of the Made in Czechoslovakia label, an idea that was recently rejected by the Slovak president, but merely intended to support the two countries’ joint presence in business ventures and thereby increase their competitiveness.
Amid the tourist bustle of central Prague this week a tour with a difference was taking place. Czechs turned up in their droves when development company Flow East opened the doors to some of its historic buildings. But the developer’s first initiative of its kind is linked to its ongoing battle with Prague planners and politicians.
Language exams for foreigners seeking permanent residency permit to become tougher
Czech teenager builds second-largest ever Millennium Falcon LEGO model
Gunman kills six patients in Ostrava hospital, two more fighting for their lives
HN: Developers aiming to sell co-living concept in Prague
Press: Era of 100-crown lunch special is over, as food prices rocket