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Insurance companies operating in the Czech Republic have revised flood damage estimates upward. The two largest insurers alone estimate the damage their clients incurred during the disastrous floods in August at almost 20 billion Czech crowns.
Flood relief donations are also continuing in Europe. The Czech Embassy in London says people in Britain have donated almost 160,000 pounds, or more than eight million crowns, to a special fund for Czech flood victims.
The Czech government said it wanted to obtain money for financing repairs of flood damage by increasing indirect taxes, including the VAT and consumer tax on petrol, tobacco and alcohol.
Poland has introduced administrative protection of its steel market against imports. Poland has set a total quota of 670,000 tons on steel imports from WTO countries, and an additional import surcharge of 25 percent on imports exceeding that quota.
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