PRAGUE, March 9 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Wednesday.
ALL TIMES GMT (Czech Republic: GMT + 1 hours)
=========================ECONOMIC DATA=========================
Q4 real wage data at 0800 GMT.
January foreign trade data at 0800 GMT.
February inflation data at 0800 GMT.
Real-time economic data releases....................<ECONCZ>
Previous stories on Czech data.............[]
Overview of economic data and forecasts..........<CZ/ECON15>
Updates on CEE currencies............................[]
============================EVENTS===============================
PRAGUE - 11-year government bond auction <CZ1002851=>.
Related news: []
PRAGUE - The Czech cabinet to hold a session
(www.vlada.cz/en/default.htm). News conference to follow.
Related news: []
============================TOP NEWS===========================
BUILDING SAVINGS: The Czech Finance Ministry wants to allow
more financial institutions to compete in the state-subsidised
building savings and loan sector, Finance Minister Miroslav
Kalousek said on Tuesday.
Story: [] Related news: []
TEMELIN: A unit at Czech CEZ's <> Temelin nuclear
power plant is offline for an unplanned outage following a test
on Tuesday and is expected to be reconnected to the grid
overnight, the utility said.
Story: [] Related news: []
DIVIDEND TAX: The Czech Finance Ministry is looking at how
to avoid double taxation of corporate profits, Finance Minister
Miroslav Kalousek said on Tuesday.
Story: [] Related news: []
CEE MARKETS: Emerging European currencies slid against a
weaker euro on Tuesday, with Hungary's forint reversing early
gains on comments by a new central banker as deficit data
revived concerns about fiscal sustainability.
Story: [] Related news: []
CEE POWER: Warmer temperatures and a big jump in wind
production drove Czech spot power down 10 percent on Tuesday,
though lower supply in the transmission grid kept prices from
falling further, traders said.
Story: [] Related news: []
---------------------- MARKET SNAPSHOT ------------------------
Index/Crown Currency Latest Prev Pct change Pct change
close on day in 2011
vs Euro <EURCZK=> 24.246 24.324 0.32 3.02
vs Dollar <CZK=> 17.459 17.533 0.42 6.48
Czech Equities <> 1,219.2 1,219.2 -0.28 -0.46
U.S. Equities <> 12,214.38 12,090.03 1.03 5.5
Pvs close or current levels vs prior domestic close at 1500 GMT
==========================PRESS DIGEST=========================
PENSION REFORM: Coalition party Public Affairs wants to
propose financing the pension reform by imposing a tax in
gambling. The party's deputy Josef Novotny said such a tax would
immediately raise 7 billion crowns per year. Some economists and
President Vaclav Klaus have criticised the government's plan to
merge the lower 10 percent value-added tax with the upper 20
percent rate as a way to finance the reform. A source from
another coalition party TOP09 said the upper 20 percent VAT
might be cut but should stay above 17 percent.
Pravo, page 1, Lidove Noviny, page 1
NEW LOAN FOR SAZKA: The indebted lottery company Sazka board
approved on Friday a one-year loan of 2.5 billion Czech crowns
($143.1 million) from the company Gladious, jointly owned by
Penta Investments and Martin Ulcak. Both Penta and Ulcak are at
the same time bidding to take over the indebted company. Sazka
bankruptcy receiver Josef Cupka said Sazka would very likely not
be able to pay the loan which has a 10 percent interest rate and
is secured by all of Sazka assets. Cupka filed for a preliminary
injunction to block the loan.
Hospodarske Noviny, page 1
CARBON CREDITS THEFT: Czech power group CEZ <> and
Czech based trading firm Blackstone Global Ventures are waiting
for the government to come up with a solution how to return the
companies carbon credits stolen from the carbon registry in
January. The Czech carbon registry OTE has not reimbursed the
losses despite promises it would do so, a CEZ spokesman said.
Both companies are missing a total of more than 1 million
credits.
Hospodarske Noviny, page 19
Reuters has not verified the media reports, nor does it
vouch for their accuracy.
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For summary of economic data and forecasts <CZ/ECON01>
For diary of forthcoming Czech events []
For calendar of east European economic indicators []
TOP NEWS -- Emerging markets []
TOP NEWS -- Convergence watch []
For an economic indicator diary for the euro zone, the United
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