Czech Republic - Factors To Watch on Aug 16

...Republic: GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    No economic data are due for release on Thursday. Next in 
line are June retail sales  on Friday. 
    Real-time economic data releases.................... 
    Previous stories on Czech data.............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts.......... 
 
 ========================== TOP STORIES ======================== 
    FISCAL REFORMS: The centre-right government secured support 
for its fiscal reforms in a parliamentary vote next week when 
two opposition deputies said they would support the bill aimed 
at halting growing budget gaps. 
    Story: [nL15236337] Related news: [RTRS-LEN-CZ-POL-GVD] 
    FACTBOX on proposed measures: [nL15325895] 
    Rebel Civic Democrat (ODS) deputy Vlastimil Tlusty, former 
Finance Minister, said he would vote against the reform bill 
unless the government corrects an error which would have made 
low-income earners pay more in taxes in 2009 than in 2008 
despite a drop in the tax rate from 15 percent in 2008 to 12.5 
percent in 2009. 
    Hospodarske Noviny, page 1 
     
    CROWN LOSING FUNDING STATUS: The Czech crown  
looks to be in danger of losing its status as one of the world's 
most popular funding currencies. 
    Story: [nL15263227] Related news: [RTRS-LEN-CZ-FRX] 
    Updates on Czech currency.............................[CZK/] 
 
 =========================== EVENTS ============================ 
    C.BANK NON-POLICY MEETING: The central bank governing board 
holds a regular weekly meeting. It is not scheduled to discuss 
monetary policy issues. The central bank does not usually 
release a statement at the conclusion of a non-policy meeting. 
    Related news: [RTRS-LEN-CZ-CEN] 
 
 ---------------------- MARKET SNAPSHOT ------------------------ 
 Index/Crown Currency  Latest    Prev    Pct change   Pct change 
                                 close   on day       in 2007 
 PX Index        1,749.7  1,775.1   -1.43        +10.12 
 vs Euro      27.850   27.865   +0.05         -1.26 
 vs Dollar       20.736   20.674   -0.26         +0.45 
 Pvs close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    CEZ : Dominant power company CEZ  beat 
expectations with a 32 percent rise in second-quarter net 
attributable profit and maintained its full-year outlook. 
    Story: [nL15694329] Related news:[RTRS-LEN-CZ-CEZPsp.PR] 
     
    C.BANKER ON RATES: The central bank should raise rates 
'significantly' due to fast economic growth and the prospect of 
higher inflation, central bank's (CNB) Vice-Governor Ludek 
Niedermayer told Thomson Financial News. 
    Story: [nL15865234] Related news: [RTRS-LEN-CZ-CEN-PLCY] 
     
    CIGARETTE PRICES: Tobacco excise taxes will rise to raise 
the price of a standard box of 20 cigarettes by 7 crowns, 
instead of originally planned 4 crowns, according to a new 
proposal discussed by the parliament. 
    Hospodarske Noviny, page 13 
    The legislation is closely watched by dominant cigarette 
producer Philip Morris Czech Republic  and its local 
market competitors. 
    Related news: [RTRS-LEN-CZ-TABKsp.PR] 
     
    TV BROADCASTING: The lower house of parliament has given a 
preliminary approval in the first out of three required readings 
to a series of bills allowing the launch of new digital 
television stations to compete with units of Central European 
Media Enterprises (CME)  and Sweden's MTG . 
    The draft should be voted on at the end of September and 
could take effect on 1 January 2008. 
    Pravo, page 4 
    Related story: [ID:nL18876277] 
    Related news: [RTRS-LEN-CZ-CETVsp.PR] 
     
 
 
 (Reuters has not verified any of the newspaper reports that may 
be quoted above and does not vouch for their accuracy.) 
 
 
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 For summary of economic data and forecasts           
 For diary of forthcoming Czech events                [CZ/DIARY] 
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[PRAGUE/Reuters/Finance.cz]