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Czech National Bank (CNB) makes surprise cut in key interest rate; CNB governor says lower inflation forecast reason for cut, predicts higher growth; Finance Ministry also revised downwards its inflation forecast, sees higher growth; Vaclav Fischer and Karel Komarek file rival bankruptcy claims over Fischer's assets; Czechs to join EU to push for measures against Chinese textiles; Senate strikes down proposal relating to management of listed companies; Civic Democrats to push for 15 percent 'flat tax';

Over 85 percent of company managers believe PM Gross 'untrustworthy', 75 percent support 'flat tax'; New Cabinet to focus on pension reform, lower taxes, bankruptcy and conflict-of-interest laws; Metro line to be extended —almost—to Ruzyne airport; EU anti-trust ministers agree to ban certain sales techniques used by hypermarkets; Compromise on highway fees agreed in Brussels

Relaxed 'Stability Pact' rules plus for euro adoption, says World Bank; Cabinet approves $1bn tender for armoured transport vehicles and $180m for government transport; Cabinet approves proposal to reduce paperwork for business; Broadcast entertainers opposed to fee aimed at financing Czech film Austria's OMV in talks for Aral CR petrol stations; Karel Komarek transfers $350m in assets to Dutch holding company

Cabinet approves sale of Cesky Telecom to Telefonica; Communists want to link confidence vote with bill on assets declaration; Czech Airlines (CSA) buys 12 Airbus planes with aim of competing for European flights, Czech MEPs pushing Brussels for change in distribution of EU funds to poor regions; Zentiva, Pfizer row over anti-cholesterol 'generic equivalent'; Skoda Auto management agrees to workers' 7 pct wage hike

Telefonica of Spain bids over $3.5bn for Cesky Telecom; National Property Fund to be wound down this year; Senate rejects Civic Democrats' 'squeeze out' proposal on minority shareholders; Social Democrats agree on 'Strasbourg friendly' draft plan for rent deregulation; Czech central bank cuts key interest rate to 2.0 pct, in line with European Central Bank

It's been an eventful week for the Czech Republic in terms of European Union affairs, the Czech health-care system, and small businesses, with changes to the EU's Stability and Growth Pact agreed and two complaints against the Czech state filed in Brussels.

Cabinet rejects Civic Democrats' proposal for 15 pct corporate tax rate; Mittal Steel, blocked from Vitkovice tender, threatens to renew claims against the steelworks, launch arbitration against the state; Ireland's Markland has bought Kotva; IT Minister may face charges over establishment of private company Testcom Servis; Czech breweries, malt houses, post record export sales

The purchase of Oskar Mobil is reported to be the single-largest transaction in the Czech Republic involving a private company. What will it mean for the domestic market?

Vodafone confirms interest in Oskar Mobil; PPF drops out of Cesky Telecom bid; FDI nearly double in 2004, including reinvested profits; One in four Czechs admits to having paid a bribe; Skoda Auto to double investment in India; 100 Czech electronic goods stores per year closing; Czech crown sets all-time high of 21.93 against the US dollar; Record number of Czechs expected to take foreign holidays in 2005

The Czech Republic is world famous for its beer: but what about wine? Since the fall of communism in 1989, both new and established winemakers began buying high-quality, select grapes from abroad — in any case, the Czech climate precludes mass production of the cheaper table wines abundant in the Mediterranean — and in the years ahead of accession to the European Union, a mad rush to plant new seedlings saw a veritable bounty of viniculture.