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Summary of the main business news published by CTK on Oct 31:

PRAGUE - The Czech Finance Ministry has revised up its GDP
growth forecasts for 2005-2008, predicting 4.8 percent growth for
this year and a slowdown to 4.4 percent in 2006.

PRAGUE - The Czech Republic raised spending on science and
research 2.5-times over ten years to Kc35.1 billion in 2004, the
Czech Statistical Office (CSU) said today.
The sum for 2004 amounted to 1.27 percent of GDP, which was
0.65 percentage points below the European average.

PRAGUE - Third-quarter earnings of leading Czech companies
increased mainly thanks to strong economic growth, rising exports
and high prices often charged for services, a CTK poll of
analysts has shown.

PRAGUE - The Czech Republic will, with some exceptions, ban
imports of exotic birds from countries that are not EU members,
Czech Agriculture Minister Petr Zgarba told journalists, adding
that the measure is in harmony with a EC

PRAGUE - Czech state-run bail-out agency CKA said today it
made record-high profits worth Kc2.817 billion for the first nine
months of the year after a Kc2.899 billion loss a year ago.

PRAGUE - Czech fuel prices went down in the past week, with
the price of the top-selling Natural 95 down by 44 hellers at an
average Kc31.38 per litre and diesel oil price at Kc29.78 a
litre, a drop of Kc0.12 on the week, according to the most recent
data from Webfarm.

PRAGUE - Petrol and diesel prices at Czech filling stations
went down moderately, while LPG price increased again in the week
to October 24, the Czech Statistical Office (CSU) said today.
The price of the top-selling petrol Natural 95 was 48 hellers
lower at Kc32.00 a litre. Diesel oil price went down by Kc0.18 to
Kc30.05 per litre.

MLADA BOLESLAV, Central Bohemia - The Czech Republic's
increasing orientation at the car industry is good for the
country's economy, according to Industry and Trade Minsiter Milan
Urban.

BRUSSELS - Only 12 percent of Czechs use local authorities'
websites to obtain information, which is the lowest share among
the EU countries, a Eurostat survey monitoring the years 2003 and
2004 has shown.

PRAGUE - Reps of some 120 companies from Spain today attended
the Spanish-Czech trade forum to search for new business
opportunities in the Czech Republic, Ivo Gajdos from the forum's
organiser Czech Management Association CMA has told CTK.

MOST, North Bohemia - Trade unions at coal mine Mostecka
uhelna spolecnost (MUS) have expressed concern about their jobs
and want the valid limits on brown-coal mining lifted claiming
that otherwise 4,000 jobs would be lost.

PRAGUE - Falling sales of music recordings still affect Czech
companies as in January-September of this year sales of domestic
publishers grouped in International Federation of Phonographic
Industry (IFPI) fell from Kc315m to Kc374m, Pavel Bodis of IFPI
told CTK today.

BRNO - The Finance Ministry will contribute an extra Kc35m to
the Wine Fund next year, which domestic vine growers and wine
producers will get alongside Kc40m from the Agriculture Ministry,
Finance Minister Bohuslav Sobotka told journalists today.

PRAGUE - German undertakers increasingly often use the
services of Czech crematoriums which charge much less for
cremation than their rivals in Germany.

PRAGUE - Debts of Czech households in banks and financial
institutions grew by Kc8.8bn month-on-month to Kc380.3bn in
September, after an increase of Kc9.4bn in August, the Czech
National Bank (CNB) said today.

PRAGUE - CSOB, the largest Czech bank, raised third-quarter
net profit by 60 percent year-on-year to Kc7.87 billion,
spokesman Milan Tomanek told CTK today.

PRAGUE - Czech bank Ceska sporitelna made a net profit of
Kc7.21bn in the first three quarters of 2005, up 15.5 percent on
the year, spokeswoman Klara Gajduskova told CTK today.

PRAGUE - Czech bank Komercni banka, a unit of France's
Societe Generale, raised third-quarter net profit by 12.3 percent
year-on-year to Kc6.31 billion, beating expectations slightly,
spokeswoman Marie Petrovova told CTK today.

PRAGUE - Czech financial group PPF denies the information
that it is interested in Chinese bank Chengdu City Commercial
Bank, Czech daily Lidove noviny reported today.
But PPF is searching for a suitable Chinese bank to buy, the
daily said.

PRAGUE - Komercni banka KB will cancel 30 percent of fees as
of January 1 next year, KB's new head Laurent Goutard says in
today's daily Hospodarske noviny HN.
It is not clear however if the price of the clients' basic
services will be cut accordingly, the paper notes.

PRAGUE - The largest Czech insurer Ceska pojistovna generated
a net profit of Kc4.7bn in January-September by international
accounting standards and collected Kc31.2bn in premiums in the
period, up 5 percent on the year, CP has informed CTK in a press
release.

PRAGUE - Penzijni fond Ceske pojistovny (PFCP) pension fund
generated a profit of Kc912m in January-September, up 126 percent
year-on-year, and the number of its clients grew to 843,000,
making it the biggest fund in the Czech market, spokesman Petr
Brousil told CTK today.

PRAGUE - HVB Bank netted Kc1.29bn in January-September, 21
percent more than a year earlier, and its total assets reached
Kc155bn, spokeswoman Petra Kopecka told CTK today, adding that it
thus remains the fourth largest bank in the Czech Republic.

PRAGUE - The Czech currency closed at Kc29.68/EUR today, the
level where it opened in the morning, but during the day firmed
through Kc29.60/EUR, and to the dollar shed 17 hellers to
Kc24.77/$, Patria said on its website.

PRAGUE - Share prices grew strongly on the Prague Stock
Exchange (BCPP) today, the best performers being companies which
announced better Q1-3 profits year-on-year, the PX 50 index grew
by 1.9 percent to 1,381.3 points and the PX-D was up 2.05 percent
to 3,449 points, the bourse said.

PRAGUE - Shares in off-exchange RM-System grew on the last
day of October, boosted by better economic results of important
companies than last year, and the PK 30 index added 0.76 percent
to 2,182.59 points, the market said.

PRAGUE - Czech state-run power producer CEZ said today it
raised net profit by 94 percent year-on-year to Kc13.4 billion in
the third quarter, in line with expectations.

PRAGUE - The biggest Czech drug maker Zentiva raised net
earnings by a quarter to Kc1.49bn in the Jan-Sept period,
spokeswoman Vera Kudynova told CTK today.

OLOMOUC, North Moravia - Toray Textiles Central Europe
(TTCE), which opened a textile plant in South Moravian town of
Prostejov, reported a Kc1.7m profit for last year after several
loss-making years, according to info CTK learned from the latest
issue of the commercial bulletin.

JABLONEC NAD NISOU, North Bohemia - Czech sparkling wine
maker Soare Sekt raised sales by 9 percent year- on-year to Kc509
million in the fiscal year ending June 30.

CHRUDIM, East Bohemia - Degussa Stavebni hmoty, a unit of
multinational concern Degussa Construction Chemicals GmbH, saw
its Jan-June sales grow by 11.5 percent to Kc289.8m, executive
Radek Haloda told CTK today but would not disclose the company's
profit.

BOHUMIN, North Moravia - Viadrus, a heating technology plant
of steel and wire producer ZDB, saw record sales of Kc913.2m in
January-September, up Kc2m from the same period of 2004, mainly
thanks to a growth in gas prices in the Czech Republic, the
plant's director Roman Boczek told CTK today.

BRATISLAVA - The Slovak government wants to complete the sale
of a 34 percent stake in Slovak Airlines by the end of March
2006, with a tender to start by the end of the year, Dagmar
Hlavata of the Economy Ministry press department has told CTK.
Originally, the government wanted to finish the transaction
by the end of December this year.

BRATISLAVA - The largest Slovak bank Slovenska sporitelna
(SLSP) raised Jan-Sept net earnings to Sk2.68bn by international
accounting standards from Sk2.27bn in the same year-ago period,
the bank has reported.

BRATISLAVA - The Slovak branch of the largest Czech bank CSOB
made third-quarter net profit of Sk428.38 million, a drop from
Sk539.35 million a year earlier, CSOB said today.

BRATISLAVA - The Slovak currency opened at Sk39.035/EUR and
closed at the same level today, Tatra banka dealer Roman Farkas
told CTK.
To the dollar, the crown fell to Sk32.555/$ from Sk32.27/$.

PRAGUE/HAMILTON, Bermuda - US company Central European Media
Enterprises (CME) has signed a contract with three Slovak
entities from which it will buy more shares of TV Markiza for
$28.7m, raising its stake from 70 to 80 percent, CME said in a
press release today.

BRATISLAVA - Third-party liability insurance will grow by 5-6
percent on average in Slovakia next year but some drivers may
actually pay less thanks to bonuses and other reductions offered
by insurers.

cjl,fs/er



Summary of the main business news published by CTK on Oct 31:

Czech rescuers end mission to Pakistan, soldiers to replace them

Over 100 Spanish firms arrive in CR to probe trade opportunities

Czech firms see Q1-3 profits rise on growth in economy, prices

CzechRep bans imports of exotic birds from non-EU countries

CNB foreign exchange rate chart

CTK's Business News In Brief

Events - October 31-afternoon

CzechRep cooperates with Turkey in fight against drugs - Komorous

Activists tracing Masin brothers' path arrive in Berlin

CTK Business schedule for November 1

Culture minister wants churches to set up negotiating team- press

Personal files of former StB members will not be destroyed -Zeman

Elite civil servants earn as much as top managers - press

CTK business news in English is published by the export desk.

Czech Greeks have first memorial in Czech Republic

Czech press survey



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