Czech Republic - Factors To Watch on May 22

                                
 PRAGUE, May 22 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Friday:
                                
 ALL TIMES GMT (Czech Republic: GMT + 2 hours)

======================== ECONOMIC DATA ========================
                                
 Real-time economic data releases....................<ECONCZ>
                                
 Previous stories on Czech data.............[CZ-RTRS-LEN-ECI]
                                
 Overview of economic data and forecasts..........<CZ/ECON15>
                                
 Updates on CEE currencies.............................[CEE/]
=========================TOP NEWS===============================
                                
 
                                
 FX FALL: The Polish zloty fell around 1 percent on Thursday
to lead a central European retreat after stock markets dropped
and a sharp rally in the region's currencies paused.
                                
 Story: [ID:nLL213620] Related news: [RTRS-LEN-CZ-FRX]
                                
 
                                
 T-BILLS: Following are results of Thursday's
auction of 39-week Czech Treasury bills <CZ190210T=> compared
with the previous sale of bills with the same maturity.
                                
Story: [ID:nPRA002575] Related news: [RTRS-LEN-CZ-DBT]
                                
 
                                
 CSA SHOWS LOSS AGAIN: The state-run Czech Airlines (CSA)
widened a first quarter loss, just months before completion of
its privatisation, the company said.
                                
 Story: [ID:nLL430453] Related news: [RTRS-LEN-CZ-AIR]

==========================PRESS DIGEST=========================
                                
 MANAGERS' SALARIES DROP: Many top managers are taking a pay
cut amid the economic downturn, recruitment agencies say.
                                
 Hospodarske Noviny, page 1
                                
 
  FORMER FINMIN PREPARES NEW PARTY: Former Christian Democrat
Finance Minister Miroslav Kalousek is collecting signatures to
launch a new political party, TOP 09. 
                                
 Hospodarske Noviny, page 3.
                                
 
                                
 HYUNDAI EXTENDS WORKING HOURS: Hyundai has extended shifts
at its eastern Czech plant in response to growing demand for its
i30 model made there. Demand is however not big enough to run a
full second shift.
                                
 Hospodarske Noviny, page 20
                                
 
                                
 CZECH AIRLINES SEEE MINIMUM PRICE: National carrier Czech
Airlines, in the process of privatisation, sees its minimum
value at around $400 million or 7.7 billion crowns, however the
Finance Ministry expects to get just 2-5 billion.
                                
 E15, page 6
                                
 
                                
 CABINET DISCUSSES MANIFESTO: The new caretaker cabinet
discussed its programme manifesto late on Thursday. The final
version is expected to be approved on Monday.
                                
 Pravo, page 1
                                
 
                                
 Reuters has not verified the media reports, nor does it
vouch for their accuracy.
                                
 
 For Instant Views of key economic data click on    [CZ/INSTANT]
 For summary of economic data and forecasts          <CZ/ECON01>
 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         <G7TODAY>

 For real-time stock market index quotes click in brackets:
 Warsaw WIG20 <.WIG20>  Budapest BUX <.BUX>  Prague PX <.PX>

                                
 News editor of the day: Jan Lopatka on +420 224 190 474;
fax: +420 224 229 935
                                
 E-mail: prague.newsroom@reuters.com
  (Compiled by Jana Mlcochova)