March 23, 2020 / 7:34 AM / 11 days ago

Czech Republic - Factors To Watch on March 23

    PRAGUE, March 23 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Monday.
    ALL TIMES GMT (Czech Republic: GMT + 1 hour)        
=========================ECONOMIC DATA==========================
    Real-time economic data releases.................           
    Previous stories on Czech data.............                 
  **For a schedule of corporate and economic events: 
    CASES: The number of cases has risen to 1,120 as of Sunday
night. The country has reported one death and six recoveries.
    GOVERNMENT MEETS: The cabinet meets to discuss response to
the coronavirus. Ministers have signalled they may further
restrict or ban cross-border work commute in another tightening
of border closures.
    The government is also expected to extend shop and
restaurant closures limitations on free movement into April.
    The government will also discuss raising the budget deficit
five-fold to 200 billion crowns and adopting further measures to
help business keep employees.  
    Meeting starts at 12 p.m. (1100 GMT).
    FIRST DEATH: A 95-Year-old Czech man infected with the new
coronavirus died on Sunday, the country's first victim of the
pandemic, the chief of the Czech crisis committee said.
Republic's tough measures to slow the spread of coronavirus may
be relaxed somewhat in three weeks, but the country's borders
are likely to stay shut to most travel for months, the head of
the country's crisis committee said on Sunday.
    Roman Prymula said on Prima television the pace of spread of
infections was slowing and he was hoping the total number of
cases would not exceed 10,000.
    AUTO SECTOR HIT: A quarter of the Czech auto sector will be
shut by Monday while another 60% will have markedly cut
production, the industry's lobby group said on Sunday, calling
for fast-track measures to keep afloat a sector directly
employing 170,000 people.
    BUSINESS CALLS FOR AID: Czech companies need further
government measures to ease the impact of the coronavirus
outbreak, which poses a bigger threat to the national economy
than the 2008-09 financial crisis, the head of the Czech Chamber
of Commerce said on Friday.
    BUDGET GAP FIVE TIMES BIGGER: The Czech central state budget
deficit could swell to as much as 200 billion crowns ($7.82
billion) this year, five times larger than originally planned as
the government fights the coronavirus outbreak's impact, Prime
Minister Andrej Babis told Czech Television on Friday.
    SKODA RESULTS: Skoda Auto due to report 2019 earnings at 10
a.m. (0900 GMT).
    CEE MARKETS: Central European stock indexes rebounded and
currencies firmed on Friday as regional governments and central
banks announced measures to keep economies afloat during border
closures and major disruptions in business activity.
 ======================= PRESS DIGEST ==========================

    SCHOOLS TO STAY CLOSED: Schools will be closed at least
until the end of May, and borders may be shut for tourist travel
for many months, or even a year or two depending on
circumstances, said crisis committee chief Roman Prymula.
    Mlada fronta Dnes, page 1
    (Reuters has not verified the stories, nor does it vouch for
their accuracy.)
         Prague Newsroom: +420 234 721 617

 (Reporting by Prague Newsroom)
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