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October 12th, 2008
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BONDS The Finance Ministry announced March 1 that it will issue bonds worth 40 billion Kč ($1.7 billion) in the second quarter. It will also issue 65 billion Kč in short-term treasury bills. The government will use the bonds to finance the state budget deficit.

BANK - Following a decision by the Cabinet to unify oversight power over the market's various financial sectors under the Czech National Bank (ČNB), the bank's supervisory board decided March 2 that Michaela Erbenová will be in charge of bank regulation. Luděk Niedermayer will oversee insurance, and Miroslav Singer will be responsible for the stock exchange.

TAXES - Finance Minister Bohuslav Sobotka said the government's plan to cut corporate income tax to 20 percent will be slowed if Parliament passes a bill to raise parental benefits, Mladá fronta Dnes reported March 4. If the bill is passed, parents with children between 6 months and 4 years old will receive more than 7,300 Kč a month starting in January 2007.


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