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The end of last week saw a battle of two chemical giants - the oil refinery Ceska Rafinerska and the largest Czech chemical company Chemopetrol over prices of supplies. On Friday night, Ceska Rafinerska cut off supplies to Chemopetrol as they were unable to agree on prices of oil and other raw materials.

The state budget deficit in May decreased to 32 billion crowns from 42 billion in April, the ministry of Finance said on Monday.

The Czech authorities banned imports of German poultry and poultry products on Thursday. The move came in response to the discovery of a banned herbicide in organically grown wheat used as chicken feed in Germany. The spokesman for the veterinary authority, Josef Duben, said the ban will be in place until June 13. By then, the Czech veterinary authorities expect an explanation and more information from their German counterparts.

The upper house of the Czech parliament, the Senate, rejected on Friday a financing plan for the purchase of 24 new fighter jets for the Czech Air Force, which is the biggest military deal in Czech history, amounting to nearly 2 billion USD.

The Regional Court in Usti nad Labem, North Bohemia, has ruled that the local authorities breached the law during proceedings concerning the construction of a new industrial zone near the town of Most, where the Mexican company Nemak has started building its plant.

The Czech state-run airline CSA has reported that its net profit dropped 57 percent in 2001 as a result of reduced demand following the terrorist attacks on the United States.

The town of Rokytnice nad Jizerou, a ski resort in North-Eastern Bohemia, has entered history as the first municipality to go bankrupt. The municipality ranks among the most heavily indebted in the country and is the first town whose debts are being resolved through a public auction of its property.

The Czech foreign trade in April ended with a deficit of 40 million USD as compared to the 300 million deficit in the same period of 2001. The result is significantly better than expected. Economic analysts had predicted a deficit of around 200 million dollars in April, approximately the same as in March.

The Czech Senate on Friday rejected a law that would almost entirely ban tobacco advertising within two years. The senators opposing the law said they thought the measure was too broad.

The Czech Prime Minister Milos Zeman has said the Czech government has been unofficially offered 260 billion CZK, which is around 9 billion USD, for its majority stake in the power utility CEZ.