Czech Republic - Factors To Watch on Jan 21

                                
 PRAGUE, Jan 21 (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 hour)

======================== ECONOMIC DATA ========================
                                
 Real-time economic data releases....................<ECONCZ>
                                
 Previous stories on Czech data.............[CZ-RTRS-LEN-ECI]
                                
 Overview of economic data and forecasts..........<CZ/ECON15>
                                
 Updates on Czech currency.............................[CZK/]
===========================  NEWS =============================
                                
 EBRD ON EMERGIN EUROPE: No country in emerging Europe is
safe from economic upheaval and a commitment by Western-owned
banks to their subsidiaries there is vital to preventing
banking-sector crises, the EBRD said.
                                
 Story: [ID:nLK718242] Related news: [RTRS-LEN-CZ-BNK]
                                
 
                                
 TELEFONICA: Telefonica O2 Czech Republic <SPTTsp.PR> sold
its former headquarters in Prague and expects a gain of more
than 300 million crowns ($14.06 million) in its first quarter
2009 results, the phone group said.
                                
 Story: [ID:nLK142825] Related news: [RTRS-LEN-CZ-REA]
                                
 
                                
 FX SLIP: The Hungarian forint hit a record low against the
euro on Tuesday and the Polish zloty weakened past another key
level as more poor economic data added to already fragile
sentiment for emerging market assets.
                                
 Story: [ID:nLK321946] Related news: [RTRS-LEN-CZ-FRX]
                                
 
                                
 GAS SUPPLIES: The European Union welcomed the resumption of
gas supplies from Russia through Ukraine on Tuesday but said the
lengthy row between the two countries harmed confidence, the
Czech EU presidency said.
                                
 Story: [ID:nPRA002332] Related news: [RTRS-LEN-CZ-ELG]
                                
 
                                
 GROWTH OUTLOOK: Economic growth in emerging Europe will fall
close to zero this year due to the global economic crisis, the
European Bank for Reconstruction and Development said.
                                
 Story: [ID:nLK449216] Related news: [RTRS-LEN-CZ-ECI]
                                
 
                                
 EU BUDGETS: EU finance ministers came under pressure on
Tuesday to recommit to lower national debts and roll back public
spending once the region starts to pull out of recession. 
                                
 Story: [ID:nnLK35671] Related news: [RTRS-LEN-CZ-PLCY]

 ---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency  Latest    Prev    Pct change   Pct change
                                
                              close   on day       in 2009
 Czech Equities  <.PX>   798.9    798.9   +0.00       -100.00
 vs Euro     <EURCZK=>  27.670   27.520   -0.54         -4.23
 vs Dollar      <CZK=>  21.387   20.651   -3.37        -14.98
 U.S. Equities  <.DJI>   7,949    8,281   -4.01        -40.07
 Pvs close or current levels vs prior domestic close at 1500

=========================PRESS DIGEST==========================
                                
 OBAMA: Czech Prime Minister Mirek Topolank said he expected
the new U.S. President Barrack Obama to go ahead with creating a
missile defence system in central Europe.
                                
 Pravo, page 1
                                
 
                                
 CZECH BUDGET: Finance Minister Miroslav Kalousek said he
expected keeping this year's public finance deficit within the
Maastricht criteria. He reiterated he expected central state
budget gap to reach 60 billion Czech crowns ($2.81 billion).
                                
 Hospodarske Noviny, page 17
 
                                
 Reuters has not verified the media reports, nor does it
vouch for their accuracy.
                                
 
 For Instant Views of key economic data click on    [CZ/INSTANT]
 For summary of economic data and forecasts          <CZ/ECON01>
 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 <.PX>

                                
 News editor of the day: Jan Lopatka on +420 224 190 474;
fax: +420 224 229 935
                                
 E-mail: prague.newsroom@reuters.com
                                
  (Compiled by Jana Mlcochova)