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2005 budget approved at deficit of over 80bn crowns; Current account deficit up in October; Electricity and gas markets set to liberalise; Orco Property group to list shares on Prague bourse; Subsistence level allocation raised; cuts in welfare still planned

The media group owned by U.S. billionaire Ronald Lauder is set to regain control of TV Nova, the "stolen" Czech commercial television network that was once the broadcasting group's flagship station.

A new study released by the Czech Statistical Office has revealed that an average of 7 out of every one hundred Czechs misses work on any given day due to illness or injury. That's twice the rate of neighbouring Germany and Austria, and a third higher than the Czechs' former compatriots, the Slovaks. In fact, Czechs miss more work due to injury and illness than almost anyone else, at least in Europe.

The European Commission has lifted a suspension on the Czech Republic's drawing money from the pre-accession Phare fund; the Czech Senate has passed an amendment to the income tax law; and, real estate advisors say the development of Czech industrial areas and parks will continue into 2005.

Fiercely proud of their centuries-old brewing tradition, Czech beermeisters have reacted angrily to claims by the world's largest consumer advocacy group, the U.K.-based 'Campaign for Real Ale,' that the quality of Czech beer is going down the tubes.

Cabinet agrees compromise approach on Cesky Telecom sale; Government agrees to reduce public spending and approves plan to help young Czechs buy their own homes; OECD urges faster pension and health reforms; average monthly wage up 7 pct in Q3.

Once among a handful of Prague art house cinemas, Kino Aero faced little competition from the Czech capital's network of small cinemas. But the emergence five years ago of multiplex cinemas -- the enormous, multi-screen theatres -- has changed the face of Czech movie watching.

OECD raises estimate of Czech GDP growth; Skoda Praha signs $95m deal with Mexico's Genermex; Parliament considers land appropriation bill; Ernst & Young names 'Entrepreneur of the Year'; Pirated software down in the CR

Cabinet postpones discussion on sale of Cesky Telecom; Current account deficit narrowed significantly in September; Irish entrepreneur buys ABN AMRO's Czech asset management business; EU court refers 'Budweiser' dispute back to Finnish courts

This November 17th, exactly fifteen years after the start of the "Velvet Revolution" that led to the collapse of Communism in the former Czechoslovakia, the democratic process will "go live" with the launch of a 24-hour public affairs channel. The Czech parliamentary channel, "24.cz", will feature live broadcasts from the legislative proceedings and features on Czech politics. 24.cz will be carried by SES ASTRA, a leading satellite system for direct-to-home transmissions of television, radio and multimedia broadcasts. Martin Kubacki, who heads