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Aug 30, 2007
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Czech Republic - Factors To Watch on Aug 30

By
Reuters
Published
Aug 30, 2007

PRAGUE, Aug 30 (Reuters) - Here are news stories, press reports and events to watch which may affect Czech financial markets on Thursday:

ALL TIMES GMT (Czech Republic: GMT + 2 hours) ======================== ECONOMIC DATA ========================

Second-quarter real wage numbers due out at 0700. No consensus forecast is available.

Real-time economic data releases....................ECONCZ

Previous stories on Czech data............[CZ-RTRS-LEN-ECI]

Overview of economic data and forecasts......... ========================== TOP STORY ==========================

EURO ADOPTION: The Czech Republic could join the euro zone in 2012 if it tackles economic reforms, Prime Minister Mirek Topolanek said on Wednesday, but the government refused to set a firm target date while approving a euro adoption strategy.

Story: [nL29150816] Related news: [RTRS-LEN-CZ-AUT] =========================== EVENTS ============================

INTEREST RATE DECISION: The central bank's governing board meets on interest rates. An announcement is expected sometime after 1000 with a news conference to follow at 1330.

The central bank (CNB) is a touch more likely to leave interest rates flat than to hike after the crown rallied and the global credit markets went into a tailspin, according to analysts in a Reuters poll.

Related news: [CNB/INT]

PEGAS NONWOVENS: Artificial textile maker Pegas Nonwovens releases first-half results during the day. Conference call at 1500 with CEO Milos Bogdan and CFO Ales Gerza.

ORCO: Developer Orco Property Group announces first-half results during the day.

GAS PRICES: RWE Transgas, a unit of German utility RWE , holds a news conference on natural gas prices in the fourth quarter at 0900.

PHILIP MORRIS: Cigarette maker Philip Morris CR holds a conference call with CFO Nicklas Blomqvist and Managing Director Anja Fiedler on half-year consolidated results at 1400. ==================== ELSEWHERE IN THE NEWS ====================

CEZ : Power company CEZ is close to signing an agreement with Hungarian energy group MOL MOLB.BU to jointly build power plants in Hungary and Slovakia.

CEZ had no comment on the report. Its spokeswoman said the company is likely to issue a statement after the market close at 1400.

Hospodarske Noviny, page 1

PHILIP MORRIS: Consolidated net profit at Czech cigarette maker Philip Morris CR dropped 19 percent in the first half to 882 million crowns ($43.40 million) as the company grappled with tax hikes and migration to cheaper brands.

Story: [nL29448125] Related news: [RTRS-LEN-CZ-TABKsp.PR]

ECONOMIC OUTLOOK: The Czech economy remained on a strong expansionary path in the second quarter, propelled by household demand which has spurred inflation pressures, analysts estimated in a Reuters poll.

Stories: [nL29913786] [nL29212216]

Related news: [RTRS-LEN-CZ-ECI] [POLL/CZ]

AAA AUTO: Czech used car dealer AAA Auto plans an initial public offering in Prague and Budapest next month that would value the overall company as high as 156.5 million euros ($212.7 million).

[nL29155115] Related news: [RTRS-LEN-CZ-IPO]

CORRUPTION: The Czech government proposed a measure to send undercover agents into government offices and town halls to uncover evidence of corruption.

Story: [nL29766952] Related news: [RTRS-LEN-CZ-POL]

(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 G7TODAY For real-time stock market index quotes click in brackets: Warsaw WIG20 .WIG20 Budapest BUX .BUX Prague PX

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