Czech Republic - Factors To Watch on Sept 4

...ALL TIMES GMT (Czech Republic: GMT + 2 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    July foreign trade figures due out at 0700 GMT. Analysts 
expect a balanced result. 
    Real-time economic data releases.................... 
    Reuters poll on econ data........................ 
========================= TOP STORY ============================ 
    The Czech Finance Ministry proposed on Monday a 2008 state 
budget which would slash the country's overall fiscal gap 
unexpectedly below the cap mandated by the European Union. 
    The ministry said the draft called for a central government 
deficit of 70.8 billion crowns ($3.49 billion), which would 
squeeze the overall public sector gap to 2.95 percent of gross 
domestic product (GDP), from around 4 percent this year. 
    Story: [ID:nL03397455]  
    Related news: [RTRS-LEN-CZ-GVD] 
     
====================== IN THE NEWS ============================= 
     
    PMI DIPS: The Czech Purchasing Manager's Index (PMI) eased 
to 58.8 in August from July's peak of 59.5, but the result was 
still the second-highest in over six years of data collection. 
    Story:[ID:nL03153997]  
    Related news: [RTRS-LEN-CZ-ECI] 
     
    DEBT CALENDAR: The Czech Republic plans to raise about 27 
billion crowns ($1.33 billion) through medium-term and 
long-dated local currency government bonds between October and 
December. 
    Story: [ID:nPRA001472] 
    Table: [ID:nL03608503] 
    Related news: [RTRS-LEN-CZ-GVD-ISU] 
     
    BUDGET BALANCE: The Czech central state budget showed a 2.6 
billion crown ($128.2 million) surplus for the month of August, 
boosting the year-to-date surplus to 22.23 billion crowns. 
    Story: [ID:nL31413296]  
    Related news: [RTRS-LEN-CZ-GVD] 
     
 ======================= PRESS DIGEST ========================== 
    PKN-LOTOS: Polish refiner PKN  Chief Executive 
Piotr Kownacki says a merger with Polish firm Lotos would raise 
value of both firms. He said oil supplies from Russia may be 
halted or become more expensive, which creates the need to look 
for other supply sources.  
    Hospodarske Noviny, page 16 
     
    OLYMPIC BID: Prague will officially apply on Tuesday to host 
the 2016 Summer Olympics. 
    Hospodarske Noviny, page 3 
     
    HIGHWAY SPENDING: The Transport Ministry is proposing a plan 
to spend 802 billion crowns on transport infrastructure, mainly 
highways, by 2015. 
    Hospodarske Noviny, page 2 
     
    PM DENIES REPORTS OF RESHUFFLE: Prime Minister Mirek 
Topolanek denied reports that he was preparing a cabinet 
reshuffle.  
    Lidove noviny, page 2. 
     
 (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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