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The Cabinet has drafted a new conflict-of-interest law. It will not require the spouses of politicians and other public officials to disclose assets that are listed in their name alone, as organisations like the corruption watchdog Transparency International had been hoping for. Minister of Justice Pavel Nemec said the draft law improves upon previous legislation in setting out more precise guidelines.

Deputies pass bill allowing 72m crown bond issue to cover budget deficit, reject proposals to eliminate investment incentives, restrict shop hours; London-based think tank CEBR names Prague best 'region' of the 233 in Europe in which to do business; Former Finance Minister Ivo Svoboda fails to turn up at prison; Anti-Monopoly Office accuses three banks (CS, KB, and CSOB) of concluding cartel on fees; Unions hold back on railway strike

Deputies adopt legislation to soften ban on 'Svarc system', speed up commercial registrations, allow 'squeeze out' option for majority shareholders; World Bank says creditors in Czech Republic least likely in European Union to recover funds from bankrupt countries; Health Minister to ask for partial bail-out of VZP; $230m positive foreign trade balance recorded for March.

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.

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?