Czech Republic - Factors To Watch on April 27

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FINMIN FORECAST

The Finance Ministry will release an update of its quarterly economic forecast at 2 p.m. (1200 GMT).

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ECM NEWS CONFERENCE

Developer ECM holds a news conference at 9 a.m. (0700 GMT) to give details of 2006 results.

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CENTRAL BANK LEAVES RATES FLAT BUT SIGNALS HIKE

The Czech central bank (CNB) kept interest rates on hold for a seventh consecutive month on Thursday, but gave markets the strongest signal to date it was ready to tighten policy soon to keep inflation at bay.

Four out of six policymakers attending the monthly meeting voted to hold the main two-week repo rate at 2.50 percent , the lowest level in the European Union and now a record 125 basis points below the euro zone equivalent [CNB/INT].

RELATED STORIES.......[ID:nL26624395] [RTRS-LEN-CZ-CEN-PLCY]

HIGHLIGHTS FORM C.BANK NEWS CONFERENCE.......[ID:nL26319843]

NEW CENTRAL BANK ECONOMIC FORECASTS..........[ID:nPRA001271]

REUTERS POLL ON INTEREST RATE FORECASTS......[ID:nL19109899]

C.BANKERS' RECENT REMARKS ON POLICY..........[ID:nL19132137]

FACTBOX ON C.EUROPE C.BANK MEETINGS..........[ID:nL23260415]

GENERALI TAKES OVER POJISTOVNA

Italy's top insurer Generali agreed on Thursday to take a majority stake in a joint venture with a Czech group that will make it the leading sector player in central and eastern Europe.

Under the deal, Generali agreed to pay 1.1 billion euros ($1.50 billion) for a 51 percent stake in a joint venture with private group PPF that will control local No. 1 insurer Ceska Pojistovna as well as Generali's assets in the region.

The deal values Ceska Pojistovna at 3.6 billion euros and Generali's assets at 1.5 billion euros, the companies said in a joint statement. The new group will have 9 million customers.

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TELEFONICA O2 EARNINGS HIGHER

Net profit at Czech phone operator Telefonica O2 Czech Republic rose 12.5 percent in the first quarter of 2007 to 2.31 billion crowns ($111.3 million) on revenue rising 2.4 percent to 15.18 billion, both above forecasts.

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Telefonica O2 CR aproves CZK 50 dividend

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SPORITELNA APPROVES DIVIDEND

Ceska Sporitelna, the Czech unit of Austria's Erste Bank , agreed at a general meeting on Thursday to pay 4.56 billion crowns ($220.6 million) in dividends, unchanged from last year.

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CZECHS SOFTEN UP ON CONSTITUTION

The Czech government is ready to discuss a new European treaty based on the failed European Constitution with an eye on an agreement by 2009, a country position document obtained by Reuters showed.

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For overview of economic data and forecasts click on For Instant Views of key economic data click on [CZ/INSTANT] For summary of economic data and forecasts For diary of forthcoming Czech events [CZ/DIARY] For calendar of east European economic indicators [CONV/DIARY] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST]

For an economic indicator diary for the euro zone, the United States and other Group of Seven countries see

For real-time stock market index quotes click in brackets: Warsaw WIG20 Budapest BUX Prague PX

News editor of the day: Alan Crosby on +420 224 190 477; fax: +420 224 229 935

E-mail: prague.newsroom@reuters.com

Reuters Messaging: alan.crosby.reuters.com@reuters.net