Czech Republic

Czech leaders downplay Klaus anti-Lisbon meeting in Dublin

Prague/Dublin - Czech leaders Wednesday sought to downplay Czech President Vaclav Klaus' meeting with Ireland's leading opponent of the Lisbon Treaty, which spurred a diplomatic row ahead of the Czech Republic's EU presidency.

"I find it legitimate when someone presents his opinion. And I respect it even if I have a completely different view," said Czech Prime Minister Mirek Topolanek, who supports the EU reform pact.

Czech Vice-Premier for European Affairs Alexandr Vondra said that "one dinner can't undermine the Czech presidency, which the government has responsibly prepared for two years."

Czech leader causes diplomatic row with Lisbon-No meeting in Dublin

Dublin - Irish Foreign Minister Micheal Martin on Wednesday described visiting Czech President Vaclav Klaus' meeting with the leader of the Eurosceptic group that campaigned successfully against the Lisbon Treaty in June as "an inappropriate intervention."

Speaking on Irish state RTE Radio, Martin said that while Klaus had the right to include private elements to his state visit, his appearance before reporters with Declan Ganley of the Libertas group Tuesday evening meant that a private dinner "turned out to be much more political."

Czech parliament approves bill to double savings guarantee

PraguePrague - The Czech parliament's lower house Tuesday agreed to double the state's guarantee for private savings to 50,000 euros (63,770 dollars) in a bid to prevent a flight of money from Czech banks.

All 171 lawmakers present in the chamber voted in favour of the bill, which also requires presidential approval. The upper house may take up the amendment or decide to pass it on.

The Czech Republic, which is surrounded by countries that either provide or plan to provide unlimited savings guarantees, currently protects 90 per cent of retail bank deposits up to 25,000 euros.

Czech drugmaker Zentiva ups profit by 12 per cent

Czech drugmaker Zentiva ups profit by 12 per centPrague - Zentiva, the largest Czech drug maker, boosted third-quarter net profit by 11.9 per cent, helped by strong sales in Turkey, the company said Monday.

Net profit rose to 258.9 million koruny (13.2 million dollars) from 231.5 million koruny in the July-September period in 2007.

Company's sales however dropped 3 per cent to 4.825 billion koruny (245.4 million dollars) in the third quarter, from 4.976 billion koruny in the same period a year ago.

Czechs may set euro target next year, says premier

Czechs may set euro target next year, says premier Prague - The Czech Republic may set a eurozone entry date next year if the country shows it can meet the adoption criteria in the long run, Czech Prime Minister Mirek Topolanek said Monday.

Speaking to reporters after meeting Czech bankers, Topolanek said that the country should focus on catching up with the eurozone rather than on setting the euro target amid the global financial crisis.

"Next year will reveal whether we are meeting the criteria, whether we can meet them in the long term," he said.

Czech Republic's inflation, unemployment down in October

Czech central bankPrague - The Czech Republic's inflation and jobless rates were down in October as the central European country braced for a fallout of the global financial crisis, government data showed Monday.

The annual inflation rate dropped to 6 per cent in October, from 6.6 per cent in September, mainly due to a slower rise in transport and food costs, the Czech Statistical Office said.

Analysts expect the country's inflation to drop by half next year, which would allow the central bank to further cut borrowing costs that have been the lowest in the European Union.

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