Czech Republic - Factors To Watch on Aug 23

...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 STORY ========================== 
    FORMER C.BANKER FOR IMF HEAD: Russia nominated former Czech 
premier and central bank chief Josef Tosovsky to run the 
International Monetary Fund, but the Czech government 
immediately disowned his candidacy. 
    Story: [nL22176907] Related news: [RTRS-LEN-CZ-IMF] 
    NEWSMAKER: Josef Tosovsky, known for his steady hand in 
international banking circles, will need the same resolve if he 
is to navigate the political turbulence surrounding his 
nomination to head the IMF. 
    Story: [nL22434614] 
 
 =========================== EVENTS ============================ 
    C.BANK NON-POLICY MEETING: The central bank's policymakers 
meet in a regular weekly session. No monetary policy decisions 
are scheduled to be on the agenda. 
    The central bank does not usually make any statements at the 
conclusion of weekly non-policy meetings. 
    Related news: [RTRS-LEN-CZ-CEN] 
    Updates on Czech currency............................[CZK/] 
 
 ---------------------- MARKET SNAPSHOT ------------------------ 
 Index/Crown Currency  Latest    Prev    Pct change   Pct change 
                                 close   on day       in 2007 
 PX Index        1,734.0  1,697.5   +2.15         +9.13 
 vs Euro      27.760   27.710   -0.18         -0.94 
 vs Dollar       20.477   20.472   -0.02         +1.68 
 Pvs close or current levels vs prior domestic close at 1500 
 
 ==================== ELSEWHERE IN THE NEWS ==================== 
    CENTRAL EUROPE BANKS: Central and eastern European banks 
have almost no direct exposure to U.S. subprime loans, but the 
tightening debt markets could weigh on credit growth and 
earnings this year and next. 
    Story: [nL20115674] Related news: [RTRS-LEN-CZ-BNK] 
 
 ======================= PRESS DIGEST ========================== 
    CEZ : Electricity utility CEZ has started making 
technological changes to the non-nuclear parts of its nuclear 
power plants, which will allow the firm to manufacture more than 
2 terrawatt hourse of electricity per year as of 2012. 
    Hospodarske Noviny, page 16 
     
    ARBITRATION SUIT: Dutch firm Invesmart is suing the Czech 
Republic for 250 million euros in compensation for the failure 
of small commercial bank Union Banka, saying the country failed 
to protect its investment. The Finance Ministry says it has a 
good chance of succeeding in the arbitration. 
    Pravo, page 19 
     
    BUDGET: Finance Minister Miroslav Kalousek said he expected 
the central state budget deficit to come in either in line or 
below the annual target of 91.3 billion crowns. 
    Pravo, page 20 
 
 (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  
 
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    E-mail: prague.newsroom@reuters.com 
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[PRAGUE/Reuters/Finance.cz]