Czech Republic - Factors To Watch on Aug 3

...GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
 
    No economic data are due for release until June foreign 
trade balance on Tuesday. 
    Real-time economic data releases.................... 
    Previous stories on Czech data............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts......... 
 
 ========================== TOP STORY ========================== 
    CROWN: The central bank expects the crown to stay around 
28.20 per euro  until the end of this year, its chief 
forecaster said on Thursday, showing the CNB was less bullish on 
the currency than the market. 
    Story: [nL02113007] Related news: [RTRS-LEN-CZ-FRX] 
    Updates on Czech currency............................[CZK/] 
 
 =========================== EVENTS ============================ 
    C.BANK MINUTES: The central bank (CNB) releases minutes from 
its July 26 governing board meeting at 0700. Policymakers voted 
to raise interest rates by 25 basis points in the second such 
move this year at the meeting. 
    The CNB also publishes the July Inflation Report at 0700, 
detailing the headline inflation and economic growth forecasts 
unveiled last week  
    Story: [ID:nL26800751] Related news: [RTRS-LEN-CZ-PLCY] 
     
    KOMERCNI BANKA : The only listed Czech lender 
releases first half results at 0800. News conference with Chief 
Executive Laurent Goutard at 0900. 
    Analysts polled by Reuters expect Komercni to have made a 5 
percent rise in first-half net profits as credit volumes 
continued to expand fast. 
    Story: [ID:nL01899290] Related news: [RTRS-LEN-CZ-BKOMsp.PR] 
    Recommendations on Czech blue chip stocks:  
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    CME : Central European Media Enterprises 
(CME) closed 4.5 percent lower at a two-month low of 1,812 
crowns on the Prague bourse after posting a quarterly net profit 
of $34.6 million against the average consensus forecast of $35.3 
million of eight analysts in a Reuters poll [ID:nWNAS9571]. 
    Story: [ID:nL01856806] Related news: [RTRS-LEN-CETV.O] 
     
    TAX CHANGES: The ruling Civic Democrats (ODS) are 
considering proposing cutting corporate income taxes to 21 
percent in 2008 and 19 percent in 2010 from 24 percent now 
instead of taking the tax rate down to 22 percent next year, 20 
percent in 2009 and 19 percent in 2010 as originally proposed by 
the government. 
    The ODS also calls for introducing a flat 19 percent tax 
rate on personal income, replacing the original proposal for a 
15 percent flat rate calculated from broadened tax base 
including social security and health insurance contributions 
paid both by employees and employers for their workers. 
    The Christian Democrats (KDU-CSL), junior partners in the 
governing coalition, oppose any last-minute changes to the 
government's proposed tax overhaul. 
    Lidove Noviny, page 1 
    Factbox on original reform proposals: [ID:nL07797331] 
     
    TEMELIN: Temelin, the Czech Republic's biggest power 
station, plans to shut down its 1,000 megawatt Unit 1 on 
Saturday for two-months of maintenance and an exchange of one 
quarter of its fuel. 
    Story: [nL02207335] Related news: [RTRS-LEN-CZ-NUC] 
 
    BRITISH TOURISTS: Revellers on booze-laden pre-wedding 
holiday breaks for brides and grooms have helped make the Czech 
Republic a hotspot for British tourists needing diplomatic help. 
    Story: [nL02839864] Related news: [RTRS-LEN-CZ-DIP] 
     
    INFLATION TO PICK UP: Consumer inflation is likely to have 
quickened to its fastest pace in 10 months in July, a Reuters 
poll showed, reinforcing the case for higher interest rates in 
the months to come. 
    Story: [nL01772578] Table: [nL01756798] 
    Previous polls on economic indicator releases: [POLL/CZ] 
 
 
 
 (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: 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 
 
 

[PRAGUE/Reuters/Finance.cz]