Weekly news:

FINANCIAL & ECONOMIC NEWS

MONETARY POLICY

Slovak central bank cuts interest rates by 75 bps to 2.50%, in line with ECB

COMPANY NEWS

TRANSPORTATION

Moody’s downgrades issuer rating on Czech state transport fund outlook to ’stable’

ENERGY NEWS

OIL & PETROCHEMICALS

Czech retail fuel prices drop; top-selling Natural 95 down to CZK 24.40/liter

Prague-listed Unipetrol may bid this week for Shell’s stake in Czech refinery CRaf

GAS

Czech Republic favors Nabucco pipeline project, must be ’European’ to succeed – PM Topolanek

COAL

PRESS: Czech utility CEZ, equity group J&T enter final tender round for German coal miner Mibrag

PRESS: Czech coal miner NWR buys majority stake in Belarus railway terminal

BANKING & FINANCE NEWS

BANKING

Moody’s downgrades outlook of four Czech banks to ’stable’ from ’positive’

FINANCIAL SERVICES

Moody’s cuts Czech consumer lender Home Credit outlook to ’negative,’ citing high refinancing risk

RUSSIA & CIS NEWS HIGHLIGHTS

Russia expects responsible behavior from states that transit Russian hydrocarbons - Putin

Russian Defense Ministry to open seven representative offices abroad

Russian wine production falls more than 30% in November

Moscow city authorities warn opposition against march planned for Dec. 14, see action as illegal

Belarusian Parliament agrees for European Commission representative office to open in Minsk

Heckler tries to disrupt Medvedev Constitution day speech

Lukashenko confirms Belarus’ intention to develop relations with EU

Russia will not tolerate unlicensed production of Kalashnikovs – foreign min.

EU observer car comes under fire in Georgia near South Ossetia

New Russian patriarch’s enthronement set for February 1

No one should have monopoly influence in post-Soviet space – Russian Foreign Min.

Russia may cut oil export duty to USD 117-USD 119 per tonne on Jan 1 – Finance Ministry

Russia determined to join WTO, but not at any cost – Russian Foreign Min.

Russian-NATO cooperation should be resumed – Russian chief of staff

New coalition formed in Ukraine’s Parliament, new speaker sees no reason for change of PM

Lytvyn elected Ukraine’s new parliamentary speaker

Russian oil major Lukoil’s 2009 budget assumes oil price at USD 45 per barrel – CEO

Belarusian GDP up 10.8% in Jan-Nov - ministry

Belarusian inflation at 1.4% in Nov, 12% since year’s start

Russian GDP grows 6.2% annually in Q3; up 7.3% in Jan-Sept - Rosstat

Russia should not site Iskander missiles in Kaliningrad - NATO

Ukraine’s unpaid debts could disrupt gas supplies to EU – Gazprom official

Russian oil Yukos’ former vice-president Aleksanyan released from custody on bail

Ford Russia to halt production for nearly one month on Dec 24

Russian GDP may grow by 2% or dip by 4% in 2009 – Vyugin

S&P lowers Russia rating to ’BBB’, outlook negative

Russian trade surplus widens to USD 182.8 bln in 10 mths – customs

FINANCIAL MARKETS

EQUITIES

Prague bourse PX index drops 2.91% Friday, all titles in red in line with regional sell-off

Prague Stock Exchange (PSE), SPAD trading, 05-12/12/2008

Bratislava Stock Exchange (BSE), Indices, 05-12/12/2008

FIXED INCOME

Prague Stock Exchange (PSE) Treasury bonds, Direct trading, 05-12/12/2008

CURRENCY

National Bank of Slovakia (NBS) foreign exchange rates, 05-12/12/2008

Czech National Bank (CNB) foreign exchange rates, 05-12/12/2008

MONEY MARKET

National Bank of Slovakia, BRIBOR rate fixing, 05-12/12/2008

Czech National Bank, PRIBOR and PRIBID rate fixing, 05-12/12/2008

CALENDAR

Czech Republic – calendar of upcoming events, 15-22/12/2008

Nb: This news report features only the headline of each news.

Agency Interfax