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The Czech Republic issued Eurobonds worth one billion euros on Friday, the second time the country has raised money in this way. Investors have until March 18 to buy the bonds, which will come to fruition in 15 years time.

One of the Czech Republic's top road cyclists Jan Svorada got a scare when he collided with a car at an intersection on Wednesday. Svorada was thrown over the car's hood when the driver failed to yield right of way, but suffered only minor injuries. The cyclist had been travelling at a speed of about 50 kilometres per hour. Mr Svorada has been dominant in Czech cycling for the past decade, winning a total of 74 races.

The Czech Statistical Office has released figures showing the Czech Republic's GDP grew by 4.0 per cent in 2004, up from 3.7 percent the previous year. The growth was pulled by investment which added 9.1 percent on the year, and by foreign trade which had acted as a drag in 2003. Czech exporters also benefited from the country's accession to the European Union, the Statistical Office said. Meanwhile, Martin Jahn, the deputy prime minister for economic affairs, has said the Czech economy is at its strongest in ten years, leaving room for further government reforms in the social and tax spheres.

The minister for regional development has said that districts and towns should be allowed to raise regulated rent from between 6 to 12 percent per year for a period of five or six years. He added tenants whose rent exceeded 30 percent of their net income would be eligible for social support. The minister is confident his plan could gain support in Parliament, though coalition partner the Christian Democrats, and the country's largest opposition party, the Civic Democrats, are calling for a quicker increase. Around 750, 000 apartments in the Czech Republic are subject to regulated rent, of which roughly 300, 000 are privately owned.

The Czech Supreme Court has overturned a previous conviction of a man who published a Czech language translation of Adolf Hitler's "Mein Kampf", ruling he had not aimed to propagate the book's racist ideas. Publisher Michal Zitko was originally convicted in January 2004 for having translated and published Hitler's book, a document which foreshadowed the dictator's intentions leading to the Second World War and the Holocaust. Previously Michal Zitko was given a three year suspended sentence for promoting "a movement aimed at suppressing human rights". But, the Supreme Court said on Thursday the publisher's actions had not been an active attempt to support those who followed Hitler's book.

The Czech Statistical Office has also reported the average income grew by slightly more than 1,000 crowns last year to roughly 18,000 crowns per month, or about 820 US dollars. In real terms that represents a rise of 3.7 percent, the lowest in four years.

The Czech crown hit a historic high against the US dollar of 21.90 crowns on Wednesday. It also reached a 2.5 year high against the euro when it stood at 29.29 to the single European currency. The Czech National Bank said on Wednesday it was considering intervening against the strong crown.

The Skoda Auto car manufacturer plans to double production at its plant in the Indian town of Aurangabad and export to Bangladesh this year. Skoda Auto is based in the central Bohemian town of Mlada Boleslav but is now owned by Germany's Volkswagen Group. Skoda has already invested 100 million euros in the Indian plant. It is the manufacturer's only plant outside Europe and currently produces some 15,000 vehicles a year.

The Czech government has approved a proposal for a new constitutional law that would allow ordinary citizens hold referendums on important internal and foreign state policy. Under the bill, a referendum could not be held on issues that question constitutional principles and fail to respect the country's international obligations. Citizens would, however, be able to vote on the European constitution, which has to be ratified by all EU member states before October 2006. In order to be passed, the bill has to be supported by 120 of the 200 deputies in the lower house and three fifths of Senators.

Prime Minister Stanislav Gross has said he sees no reason for the government to initiate a vote of confidence in Parliament following the protracted government crisis. After a meeting with senior party officials, Mr. Gross told journalists that his Cabinet was fully functional and capable of meeting the challenges ahead. The Prime Minister also reiterated his intention to run for the post of party chairman at the upcoming party conference in March. Mr. Gross told journalists he was not considering leaving either of his posts - party chairman or prime minister. The ruling Social Democrats have been under pressure to ask Parliament for a vote of confidence and to choose a new party leader at their March conference.