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Czech Republic - Factors To Watch on Oct 12
October 12, 2016 / 6:26 AM / in a year

Czech Republic - Factors To Watch on Oct 12

PRAGUE, Oct 12 (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 + 2 hours)         
=========================ECONOMIC DATA==========================
    Real-time economic data releases.................... 
    Summary of economic data and forecasts........... 
    Recently released economic data.................. 
    Previous stories on Czech data............. 
  **For a schedule of corporate and economic events: 
    here#/2E/events-overview
==========================NEWS==================================
   
    HOUSING MARKET: Record low interest rates, as well as an
increase in services like Airbnb, are feeding a housing frenzy
in the Czech Republic, as elsewhere in Europe.
    But the Czech National Bank (CNB), which wants to maintain
its ultra loose monetary policy of a weak crown currency and
near-zero rates until at least next year, is worried and wants
more powers to keep lending from getting out of control.
    Analysts and brokers, though, see little chance of the
market cooling any time soon.
    Story: Related stories: 
    
    BANKS: The Czech central bank said ERB, a small
Russian-owned bank operating in the Czech market, had failed to
meet obligations and depositors could claim compensation for
losses from the national deposit insurance scheme.
    The Czech banking system as a whole has maintained
profitability and required no bailouts during and since the
global financial crisis, and ERB's failure does not point to any
wider systemic problems.
    Story: Related stories: 
    
    BUDGET: The Czech Republic will post a balanced central
state budget in 2016, Finance Minister Andrej Babis said on
Tuesday, confirming earlier outlooks suggesting its deficit will
be eliminated for the first time since 1995.
    Story: Related stories: 
    
    NWR: New World Resources said NWR Karbonia shares
were transferred to Prairie Mining Limited following creditors'
enforcement action. NWR Karbonia is responsible for Debiensko
mine project in Poland.
    Story: Related stories: 
    
    CEE MARKETS: Romania's leu firmed on Tuesday as lawmakers
moved to alter a bill on converting Swiss franc mortgages into
the local currency to ease the burden on banks.
    Story: Related stories: 
 ---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency    Latest     Prev   Pct change Pct change
                                    close    on day     in 2016
 vs Euro        27.002     27.002     0        -0.01
 vs Dollar         24.472     24.362    -0.45      1.56
 Czech Equities    894.57     894.57      0.4      -6.46
 U.S. Equities 18,128.66  18,329.04     -1.09      4.04
 Pvs close or current levels vs prior domestic close at 1500 GMT
======================PRESS DIGEST=============================
    LABOUR SHORTAGE: Around 70 percent of engineering companies
face a shortage of qualified workers, according to a survey of
100 managers done by research firm CEEC Research.
    Hospodarske Noviny, page 12
        
    AUTO SECTOR: Avia, acquired by Czechoslovak Group this year,
plans production of around 200 vehicles next year, its new owner
Jaroslav Strnad said. It has aims of reaching output of 1,000
vehicles in the future.
    Mlada Fronta Dnes, page 10
    
    DEBT: Finance Minister Andrej Babis said he wanted to get
the Czech Republic among the five least indebted EU states.
    Pravo, page 4
    
  (Reuters has not verified the stories, nor does it vouch for
their accuracy.)
                   
 For real-time stock market index quotes click in brackets: 
 Warsaw WIG20  Budapest BUX Prague PX 
 For updates on CEE currencies                       
 TOP NEWS -- Emerging markets                    
 
    Prague Newsroom: +420 224 190 477
    E-mail: prague.newsroom@thomsonreuters.com


 (Reporting by Prague Newsroom)

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