Slovakia - Factors To Watch on Aug 22

...   The government will hold a regular weekly meeting, 0800 GMT. 
The agenda includes draft laws on pension system changes and 
hikes in cigarette excise taxes. 
     
    FOREIGN FIRMS SLAM SLOVAK PENSION CHANGES PLAN 
    Foreign businesses criticised a Slovak government plan to 
change the pension system and raise payroll taxes, saying on 
Tuesday the proposed bill would hurt competitiveness and hinder 
economic growth. 
    [ID:nL21860017] [RTRS-POL-GVD-DBT-SK] 
     
    CROWN HITS 8-WK LOWS ON GLOBAL NERVOUSNESS 
    The Slovak crown fell 0.8 percent to hit eight-week lows 
against the euro on Tuesday and traders said investors' exodus 
from higher yielding currencies could push the local unit 
further down. 
    [ID:nL21803939] [RTRS-MMT-FRX-SK] 
     
    SLOVAKIA SCRAPS $803 MLN ROAD TOLL SYSTEM TENDER 
    Slovakia has cancelled a 20 billion crown tender ($802.9 
million) for a new road toll system and will redesign conditions 
to take advantage of a large number of applicants, the state 
highway administrator said on Tuesday. 
    [ID:nL21494011] [RTRS-ENGN-PHON-TEL-SK] 
     
    CBANK DRAINS SKK 178.8 BLN IN REPO TENDER 
    The Slovak central bank (NBS) accepted all bids in a regular 
two-week repo tender on Tuesday, draining 178.782 billion crowns 
($7.17 billion) from the market, NBS data showed. 
    [ID:nL21720259] [RTRS-MMT-INT-CEN-SK] 
     
    PRESS DIGEST 
    ------------ 
    VSE TO INVEST $56 MLN IN 2007 
    One of the three energy distribution companies, the eastern 
Slovak Vychodoslovenska Energetika (VSE), plans to invest 1.4 
billion crowns ($55.82 million) this year. VSE said 75 percent 
of the planned investment will be spent on its distribution 
network. 
    Sme, page 6 
     
    HIGHER ELECTRICITY PRICES 
    Electricity prices are likely to rise in 2008 as lack of 
generating capacities drives prices up in Europe. One of the 
main factors is rising demand from Bulgaria and other Balkan 
countries. 
    Hospodarske Noviny, page 1 
     
    FICO ON IRAQ 
    Prime Minister Robert Fico has repeatedly criticised U.S. 
invasion to Iraq.  
    Pravda, page 4 
     
    TOLL TENDER LEAK 
    The National Highway Company was forced to scrap the 20 
billion crown road toll system tender due to leaked tender 
documentation to some of the bidders, sources said. Some 
applicants in the tender received technical specifications of 
the tender earlier than others. 
    Hospodarske Noviny, page 1 
     
    FICO'S RESERVE 
    Prime Minister Robert Fico faces criticism for distributing 
funds from his office's financial reserve only to state and 
municipal officials loyal to his SMER party. 
    Sme, page 1 
     
    For news on upcoming events in the United States and other 
Group of Seven countries, see . For a diary of 
forthcoming Slovak events, double click [SK/DIARY], and a 
calendar of east European economic indicators, see [CONV/DIARY]. 
     
    News editor of the day: Peter Laca on +421 2 5341 8402; fax: 
+421 2 5341 8403 
    E-mail: editorial@reuters.sk 
    Reuters Messaging: peter.laca.reuters.com@reuters.net 
     
    For real-time index quotes, double click in brackets: 
    Warsaw WIG20   Budapest BUX   Prague PX50 
 
 Other related news: 
 Slovak equities      [SK-E]  E.Europe equities           [.CEE] 
 Slovak money         [SK-M]  Czech debt                  [CZ-D] 
 Slovak Indicators  [SK-ECI]  Emerging forex          [EMRG/FRX] 
 Eastern European     [EEU]   All emerging markets        [EMRG] 
 Hot stocks           [HOT]   Stock markets                [STX] 
 Market debt news     [DBT]   Forex news                   [FRX] 
 TOP NEWS -- Emerging markets                         [TOP/EMRG] 
 TOP NEWS -- Convergence watch                        [TOP/EAST] 
  
  
 ($1=25.08 Slovak Crown) 
  

[BRATISLAVA/Reuters/Finance.cz]