Czech Republic - Factors To Watch on May 30

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NO ECONOMIC DATA DUE FOR RELEASE

Previous stories on Czech data............[CZ-RTRS-LEN-ECI]

Overview of economic data and forecasts.........

Real-time economic indicators.....................

BOND AUCTION

The finance ministry offers a 6 billion crown tranche re-opening the three-year government bond series in an auction to be conducted by the central bank.

Auction details and results:

Related news: [RTRS-LEN-CZ-GVD-ISU]

COMPANY EARNINGS

Artificial textile maker Pegas Nonwovens is expected to release Q1 results at around 9 a.m. (0700 GMT).

Developer Orco Property Group is expected to publish Q1 results after the market's close.

News on Pegas: [RTRS-LEN-CZ-PGSNsp.PR]

News on Orco: [RTRS-LEN-CZ-ORCOsp.PR]

CABINET MEETING

The Czech cabinet meets in a regular weekly session. News conference is tentatively scheduled for 1 p.m. (1100 GMT).

Ministers have no market-related decisions on the agenda. They will discuss distribution of carbon dioxide allowances to companies, among other things.

Related story: [ID:nL19136884]

The cabinet will also discuss a plan to privatise Skodaexport, which arranges the construction and reconstruction of power plants abroad.

TOP ISRAELI DIPLOMAT

Israeli Vice Prime Minister and Foreign Minister Tzipi Livni meets Czech President Vaclav Klaus at 11 a.m. (0900 GMT), holds a press foyer after meeting Czech counterpart Karel Schwarzenberg at 2 p.m. (1200 GMT) and speaks at a news conference at 4 p.m. (1400 GMT) after meeting Czech Prime Minister Mirek Topolanek.

Related news: [RTRS-LEN-CZ-DIP]

FISCAL REFORM

The government's tax and spending reforms would help stabilise the budget in the short run, but fall short of ensuring its long-term sustainability, central bank (CNB) Governor Zdenek Tuma said.

Story: [nL29702239]

Related news: [RTRS-LEN-CZ-POL-GVD]

FACTBOX on proposed fiscal measures.........[ID:nL23359860]

CEZ PLANS BOND ISSUANCE

Power utility CEZ plans to to return to foreign debt markets with a eurobond offering in the autumn under a new 4 billion euro medium-term note programme, the company said.

Story: [nL29536978]

Related news: [RTRS-LEN-CZ-CEZPsp.PR]

PKN HAS NO PLANS TO SELL CZECH UNIT

Polish fuel group PKN Orlen has no plans to sell its majority stake in Czech Refining Co (CRC) to Italian rival Eni , PKN's chief was quoted as saying.

Story: [nL29468871]

Related news: [RTRS-LEN-CZ-PKNA.WA]

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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E-mail: prague.newsroom@reuters.com

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[PRAGUE/Reuters/Finance.cz]