Czech Republic - Factors To Watch on Aug 22

...Republic: GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    No economic data are due for release until second-quarter 
real wage numbers on Thursday, Aug. 30. 
    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 lower house of parliament approved on 
Tuesday a tax overhaul and welfare cuts, the key piece in the 
centre-right cabinet's drive to cut the budget deficit and boost 
growth. 
    Story: [nL2138103] Related news: [RTRS-LEN-CZ-POL-GVD] 
    FACTBOX on approved measures: [ID:nL21731283] 
 
    NO EURO TIMETABLE: The Czech Republic will probably refrain 
from setting any target date for euro adoption this year after 
Finance Minister Miroslav Kalousek told Reuters on Tuesday he 
might abandon his efforts to pick 2012 as an official goal. 
    Stories: [nL21839880] [nL21837320] 
    Related news: [RTRS-LEN-CZ-FRX] 
 
 =========================== EVENTS ============================ 
    CABINET MEETING: The cabinet meets in a regular weekly 
session. It is expected to discuss a swap of a state-held stake 
in a regional electricity utility for a small stake in 
state-controlled power group CEZ . A news conference 
is scheduled for 1330. 
    Related news: [RTRS-LEN-CZ-CEZPsp.PR] 
 
 ---------------------- MARKET SNAPSHOT ------------------------ 
 Index/Crown Currency  Latest    Prev    Pct change   Pct change 
                                 close   on day       in 2007 
 PX Index        1,697.5  1,691.0   +0.38         +6.83 
 vs Euro      27.690   27.665   -0.09         -0.69 
 vs Dollar       20.512   20.509   -0.03         +1.48 
 Pvs close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    C.BANK CHIEF ON ECONOMY: Czech economic fundamentals remain 
sound and the central bank (CNB) has no reason to respond to 
recent global market turbulence, CNB governor Zdenek Tuma said 
in an interview with Market News International.  Markets saw his 
comments as leaving the door open to an additional quarter point 
hike this month to rein in buoyant consumer demand. 
    Story: [nL21823970] Related news: [RTRS-LEN-CZ-CE-PLCY] 
    Updates on Czech currency............................[CZK/] 
     
    RUSSIA ON SHIELD: Russia's military chief told the Czech 
Republic that hosting a U.S. missile defence shield would be a 
"big mistake" and urged Prague to delay a decision until a new 
U.S. president was elected. 
    Story: [nL21540554] Related news: [RTRS-LEN-CZ-US-DIP] 
     
    IMF NOMINEE: Former Czech central banker Josef Tosovsky has 
been nominated by Russia to head the International Monetary 
Fund, IMF board sources said, making him the second candidate 
proposed for the job. 
    Story: [nN21394410] Related news: [RTRS-LEN-IMF] 
     
     
 
 
 
 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: Jan Lopatka on +420 224 190 477; 
fax: +420 224 229 935 
    E-mail: prague.newsroom@reuters.com 
    Reuters Messaging: jan.lopatka.reuters.com@reuters.net 
 
 

[PRAGUE/Reuters/Finance.cz]