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Trade and Industry Minister Milan Urban supports the idea of CEZ becoming a Central European giant; the value-added tax on museums, hotels, and historic sites may be lowered to the 5 percent rate in 2005; and TV Nova is considering reviving its relationship with its former servicing company CNTS.

It has been called the communist's answer to Coca Cola and Pepsi - a fizzy cola with an unexpected twist - the Czech brand Kofola - actually invented in the 1960s by the Communist Planning Committee as a means of using up surplus caffeine extracted from coffee beans. In the 1970s and 80s the brand enjoyed wide popularity in Czechoslovakia but found itself trouble in 1990 when brand giants like Coca Cola and Pepsi fully entered the Czechoslovak market.

Czech government to buy back stake in Aero Vodochody from Boeing for symbolic price; CVVM poll shows majority of people think Czech economy is in "bad" shape; 'Youth' loans proposed instead of 'Newlywed' loans; U.S. not to impose higher import duties on glass; CzechTourism becomes first gov't agency to agree to join 'Viva Etika' project

Accession to the European Union, the arrival of low-fare airlines, and an international televised ad campaign promoting the Czech Republic have all helped to attract foreign tourists to Prague. What have these trends meant in terms of revenue for local hoteliers and developers?

A new English-language publication devoted to business news has appeared on the Czech scene. The 'Czech Business Weekly,' a 36-page glossy format publication, is the third title published by the Stanford group, alongside 'Profit' and 'Business Plus.' A veteran of several business publications here in Prague, the editor-in-chief of the new publication, Chris Johnstone, joined me in the studio to discuss his experience as a business journalist here and the philosophy behind the new paper. Johnstone spent 10-years reporting in Brussels; I began by

European Commission approves CR investment incentives; move will streamline aid applications; Czech Republic has highest percentage in EU of workers employed in industry; Cabinet sets aside 1.5 bn for housing loans to newlyweds, terms not yet agreed; Deputy Premier Martin Jahn says state Cesky Telecom stake could be 'floated'; C&W/HB survey names Prague as 13th best city in Europe to do business

The UN Conference on Trade and Development, better known as UNCTAD, this Wednesday released its annual "World Investment Report." The sub-heading of the report this year reads, "The Shift Towards Services," and it gives particular attention to analyzing the "offshoring" trend - of which the Czech Republic has taken full advantage.

Budget deficit for 2005 to reach nearly 84bn; Justice Ministry to review hundreds of 'rigged bankruptcies'; Toyota plant in Kolin short of 2,000 workers; U.S.-EU duty spat spells trouble for Czech glassmakers; Record number of foreigners visited the Czech Republic this year

A new international school offering British-American style college education for Czech and foreign students is opening in Prague on October 4th. Located close to the city centre, Prague College, as it is called, offers higher education in Business, IT and Design. Its programmes combine general post-secondary education with British and Czech qualifications.

Municipalities may get greater control over rent deregulation; Daikin to invest 1bn crowns into Brno plant; Farm-land restitution claimants may sue Czech state for up to 20bn crowns in Strasbourg court; Cinema ticket sales flat in first half of 2004; UBS survey finds Prague has among the cheapest luxury hotels in the EU.