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The richest man in the Czech Republic says the time for cashing in on the country's 12-year transition to capitalism may have passed.

The Czech army is about to conclude perhaps the biggest deal in its history - to buy a fleet of 24 third-generation supersonic multi-role JAS-39 Gripen combat aircraft from the British-Swedish consortium of BAE Systems/Saab. The project has not only significant military but also economic implications as the supplier has offered the Czech Republic generous investment projects.

The head of the Czech Republic's nuclear safety agency says it would be "physically impossible" for a Chernobyl-type accident to occur at the controversial Temelin nuclear power plant near the Czech-Austrian border.

The average nominal monthly wage in the Czech Republic grew by 8.5 percent year-on-year in 2001, reaching 14,642 CZK, which is around 450 USD. In real terms, after deducting inflation, the growth was 3.6 percent. The highest wages were in the banking and insurance sector - more than double the national average.

The Czech government approved a new plan on Monday to restructure the Czech energy sector.

Czech construction industry employees held a demonstration in Prague on Monday. They're calling for five weeks of annual leave and a six percent pay rise.