Czech Republic - Factors To Watch on May 14

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ZENTIVA TO REPORT

Zentiva releases first quarter results at 12 p.m. (1000 GMT). Conference call with CEO Jiri Michal and CFO Lars Ramneborn at 4:30 p.m. (1430 GMT).

It is expected to post an 11 percent rise in first-quarter net profit compared with a weak quarter a year ago, helped by continuing expansion abroad, a Reuters poll showed.

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MONETARY BASE

The central bank releases April monetary base at 10 a.m. (0800 GMT).

- For real-time economic data releases, double click on the following code:

ITALIAN PM VISITS PRAGUE

Italian Prime Minister Romano Prodi visits the Czech Republic; meets with his Czech counterpart Mirek Topolanek.

News conference is scheduled for 11:40 a.m. (0940 GMT).

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KOMERCNI BANKA PROFIT UP

Komercni Banka , the only listed Czech lender, reported a slightly higher-than-expected rise in first-quarter net profit on Friday, but disappointed the market with weaker revenue and loan growth.

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CEZ MULLS JOINT VENTURE

The supervisory board of power company CEZ has discussed a plan create a joint venture with coal mining firm Mostecka Uhelna (MUS), which seeks to build a new power plant worth up to 60 billion crowns ($2.86 billion) in north of the country, writes the daily Hospodarske Noviny. A decision should be made in June. Germany's E.ON and Italy's Enel are also interested in creating a joint venture with MUS, according to the newspaper.

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RWE SEEKS TO OVERTURN FINE

The Czech unit of German utility RWE filed a suit on Friday seeking to annul a 240 million crowns ($11.44 million) levied on the company by antitrust watchdog the UOHS.

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AIRLINE TAKEOVER

Icelandic group Icelandair has agreed to buy the largest privately owned airline in the Czech Republic, Travel Service.

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DEPUTY PM SEES UNEMPLOYMENT FALLING FURTHER

Deputy Prime Minister and Labor and Social Affairs Minister Petr Necas said the unemployment rate could fall below 5 percent in coming years thanks to a range of government reforms and should then be kept at around 4 percent, writes the daily Lidove Noviny.

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INFLATION HITS 7-MONTH HIGH, UNEMPLOYMENT FALLING

Czech inflation quickened more than expected to hit a 7-month high in April, confirming a resurgence of price growth and leading the market to discount almost fully an interest rate rise later this month.

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INSTANT VIEW ON APRIL INFLATION DATA........[ID:nL09317767]

FACTBOX ON CENTRAL BANK'S FORECASTS.........[ID:nL0428777]

- OVERVIEW OF ANALYSTS' ECONOMIC FORECASTS: [ID:nL02664655]

- SUMMARY OF COMMENTS BY CNB POLICYMAKERS: [ID:nL26200293]

ANALYSTS EXPECT RATE HIKE BY JUNE

The Czech central bank (CNB) is very likely to raise interest rates by 25 basis points by June following the strong April inflation data, a Reuters poll of 19 analysts showed.

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FOR DETAILED FORECASTS, DOUBLE-CLICK ON [ID:nL10503700]

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

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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

($1=20.97 Czech Crown)

[PRAGUE/Reuters/Finance.cz]