BRATISLAVA, May 30 (Reuters) - Here are news stories, press
reports and events to watch which may affect Slovak financial
markets on Friday.
EURO CONFERENCE
Central bank Governor Ivan Sramko will address a municipal
conference on euro adoption, 1030 GMT.
FOREX RESERVES
The central bank to publish its weekly foreign currency
reserves, 1200 GMT
SLOVAKS REVALUE CROWN AHEAD OF 2009 EUROZONE ENTRY
Slovaks awoke to a more prosperous outlook on Thursday after
a surprise 15 percent revaluation of the crown's peg against the
euro that should help contain inflation ahead of planned 2009
euro zone entry.
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IS THIS IT FOR THE SLOVAK CROWN? MOST LIKELY
Currency traders betting on the Slovak crown can start
packing up shop, because its central parity rate against the
euro following its revaluation will probably be the official
rate for euro zone entry.
[] []
PM: EURO ENTRY RATE NOTHING TO DO WITH PEG
Slovak Prime Minister Robert Fico said on Thursday the
revalued crown currency's parity rate to the euro in the ERM-2
Exchange Rate Mechanism did not automatically equal the final
conversion rate for euro adoption planned for 2009, state agency
TASR reported.
[] []
SLOVAKS SEEN ENTERING EURO ZONE AT NEW CENTRAL PARITY
Slovakia will convert its crown currency when it joins the
euro zone next year at rate of 30.1260, equal to its new central
parity in the ERM-2 exchange rate mechanism, a Reuters poll
showed on Thursday.
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SLOVAKIA, EU TALKS ONLY COVERED ERM-2 PEG-AGENCY
Slovakia's talks with European Union authorities have
concerned only a change in the crown's peg to the euro and not
the conversion rate for euro adoption, Deputy Finance Minister
Fratisek Palko said on Thursday.
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CBANKER DECLINES COMMENT ON CONVERSION RATE
Slovak central bank (NBS) Governor Ivan Sramko declined
comment on Thursday on the expected conversion rate of the
Slovak crown to the euro.
[ID:nPRG000826] []
PRESS DIGEST
------------
CROWN LEAK
The crown currency's robust firming before the surprising 15
percent revaluation of the central parity within the Exchange
Rate Mechanism ERM-2 may have been driven by leaked information
of the upcoming move, dealers said. The central bank and the
finance ministry says it has no such information.
Sme, page 3
CO2 EMISSIONS TRADING
Slovak companies have criticised the European Commission's
draft adjusting the current set-up of the carbon emissions
trading scheme (ETS), saying it threatened competitiveness of
European industries.
Sme, page 6
CONFIDENCE DOWN
Slovak March business and consumer confidence hit its lowest
level since October 2005, falling 10.8 points on the year to
97.5 points. The main worries are future economic and inflation
trends, the Statistics Office said.
Sme, page 8
ZELEZIARNE PODBREZOVA PROFIT UP
Zeleziarne Podbrezova, the country's second largest steel
maker, saw its net profit jump by 25 percent to over 1 billion
crowns ($51.63 million) last year. Sales rose by five percent to
8.64 billion crowns.
Pravda, page 16
MEDIA LAW
The controversial media bill, criticised by international
human rights organisations, opposition parties and publishers,
will become effective on Sunday.
Hospodarske Noviny, page 1
Reuters has not verified the media reports, nor does it
vouch for their accuracy
News editor of the day: Peter Laca, +421 2 5341 8402; fax
`+421 2 5341 8403
E-mail: editorial@reuters.sk
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