Czech Republic - Factors To Watch on July 16

...ALL TIMES GMT (Czech Republic: GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    No economic data are due out on Monday. 
    Next scheduled releases are June producer prices and May 
foreign trade prices at 0700 GMT on Tuesday. 
    Real-time economic data releases.................... 
 
 -------------------- RELEASED INDICATORS ---------------------- 
    The current account posted a much lower-than-expected 
deficit of 5.35 billion crowns ($260 million) in May, following 
a 16.79 billion deficit a month earlier. 
    Story: [ID:nL13116865] Instant View: [ID:nL13508005] 
    Industrial output growth slowed to 7.5 percent year-on-year 
in May, lagging forecasts of a double-digit rise. 
    Instant View: [ID:nL13592187] Table: [nPRA001394] 
    Previous stories on Czech data............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts......... 
 
 ========================== TOP STORY ========================== 
    The crown continued its ascent to reach seven-week highs and 
close the week 1.5 percent firmer against the euro, as a sliding 
dollar triggered an unwinding of carry trades funded from 
crowns. 
    Story: [ID:nL13712174] Related news: [RTRS-LEN-CZ-FRX] 
    Updates on Czech currency............................[CZK/] 
    A Reuters poll showed the crown is likely to hold around 
current levels in the near-term after this week's rise to 
six-week highs but it should climb to lifetime peaks within 12 
months. 
    Story: [ID:nL13873905] Story: [ID:nL13806510] 
 
 ======================= MARKET SNAPSHOT ======================= 
 Index/Unit           Value          Change          Pct Change 
 PX             1863.4          -17.0            -0.90 
 DJIA         13907.3           45.5             0.33 
 EUR/CZK      28.200         -0.005          -0.02 
 USD/CZK         20.450         -0.009          -0.04 
 5Y YIELD     4.15 
 15Y YIELD   4.79 
 Previous close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    TAX REFORM: Former Finance Minister Vlastimil Tlusty, an 
influential member of the ruling Civic Democrats (ODS), has said 
the party might propose cutting both corporate and personal 
income taxes to 19 percent from 2008 as a compromise plan for 
tax reform that it wants to discuss with its coalition partners. 
    Daily Mlada fronta Dnes, page 2 
    Related news: [RTRS-LEN-CZ-TAX] 
    The ODS's executive council, the party's inner leadership, 
is meeting on Monday. A news conference is scheduled for 1630. 
 
    CME : Television broadcaster Central European 
Media Enterprises  has bought the remaining 
20 percent stake in Slovak TV station Markiza that it does not 
already own for $79 million. 
    Story: [ID:nL13743263] Related news: [RTRS-LEN-CZ-CETVsp.PR] 
     
    PEGAS  UPPED TO BUY: Brokerage Wood & Company 
raised its recommendation on Czech artificial fabrics maker 
Pegas Nonwovens to "buy" from "hold". 
    Story: [ID:nL06341888] Related news: [RTRS-LEN-CZ-PGSNsp.PR] 
     
    FORMER MINISTER MAY GO FOR PRESIDENT: Former Foreign 
Minister Jiri Dientsbier has said that President Vaclav Klaus is 
acting as a know-it-all and spreads a "lousy mood" about Europe. 
Dientsbier, former dissident, has not ruled out going for 
president in a vote scheduled early next year. 
    Daily Pravo, page 2 
     
    RUSSIA ON MILITARY PACT: Russia said on Saturday it would 
suspend its participation in a key pact limiting military forces 
in Europe in five months' time unless a compromise was found on 
updating the treaty. 
    Story: [nL14393402] Related news: [RTRS-LEN-CZ-DIP] 
     
 
 
 (Reuters has not verified any of the newspaper reports that may 
be quoted above and does not vouch for their accuracy.) 
 
 
 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: Marek Petrus on +420 224 190 477; 
fax: +420 224 229 935 
    E-mail: prague.newsroom@reuters.com 
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