by Manuel Alvarez-Rivera, Puerto Ricobr /br /The Czech Republic will be holding an early general election later this year - nearly a year ahead of schedule - after the center-right coalition government of Prime Minister Mirek Topolánek was brought down last week in a parliamentary no-confidence vote. Topolánek, who submitted his resignation last Thursday but remains as caretaker head of government and leader of the Civic Democratic Party (ODS) - the largest party in the Central European country's bicameral legislature - subsequently reached an agreement with former Prime Minister Jiří Paroubek, the leader of the Czech Social Democratic Party (#268;SSD) - the main opposition force - to hold an early poll next October; a specific date remains to be determined.br /br /Prime Minister Topolánek came to office following a closely fought general election in June 2006, which left the Chamber of Deputies - the lower house of the Czech Parliament ...

Gold was under pressure right from the open in Sydney on Wednesday morning. This pressure accelerated once London was open for business. The bottom was in about fifteen minutes after Comex floor trading began in New York. A rally began that was highlighted by a big spike in the price around the time of the London p.m. fix. Was it that…or Geithner’s lips moving? The top price of the day arrived shortly after Comex trading ended and electronic trading commenced. All in all, a very interesting 24 hours.

The usual N.Y. commentator had this to say about yesterday’s activities…”Wednesday’s dramatic Comex session was notable for huge volume–particularly before the Geithner “Open Mouth/Insert Foot” incident. By 10 a.m., 117,039 lots were estimated to have traded, with gold being successfully contained. A spike after the Geithner report carried April gold to up $18.20 on the day…although this was partially eroded on very heavy

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I have started this blog as a purely focused on emerging markets in Central and Eastern Europe. Later on I have been adding my analysis about global stock markets. Anyway whatever happens in US is influencing direction for CEE markets.br /br /Czech economy growth in last Q3 by 4,7%. Still impressive. But the outlook doesn't look bright. Automotive industry accounts significant share of national product. Currently it is about 7,5%. Czech and Slovak Republics are the countries with the biggest number of produced cars per capita. Major brands produced in Czech Republic are Skoda from Volkswagen Group (VLKPY), Toyota (TM), PSA Peugeot Citroen (PEUGY) and Hyundai.br /br /There are already some plans/proposals in pipeline prepared by Czech government. Support packages related only to automotive industry like VAT deduction to all kinds of vehicles. Now it is related only to business cars (eg pick-ups, vans..). Another broad proposal is general ...

Currency expert Jack Crooks says this crisis is creating great trading opportunities in emerging markets. The Czech koruna soared 250% against the US dollar in the last seven years. But the greenback has found a bottom. And Jack says the reverse trend will be just as “earth shattering”. This is why shorting the koruna is a sure way to bag huge profits.

This from the Sovereign Society:

Again, it’s a problem of dependence. The Czech Republic is highly dependent on growth and financial market stability across the Eurozone. The major countries of Europe represent the key export markets and the financial institutions funneling foreign direct investment into central European countries. But now, both growth and financial stability in the Eurozone are being turned upside down, shaken, and dropped on their heads.

The needier countries of central Europe have benefited mightily from cross-border investment. As big players in Europe carried the region

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TODAY: Russia and Ukraine agree on gradual rise in energy prices, disagree over Georgian arms; Czech government suspicious of Russian intelligence; will troops withdraw from Georgia? Union of Right Forces disbands, Kremlin pressure suspected; Politkovskaya case reaches court. Russia and Ukraine have agreed on a gradual rise in gas prices over the next three years, as opposed to an immediate sharp rise that many predicted. ‘We came to the conclusion that our countries don't need price shock therapy,’ said Yulia Tymoshenko, although Prime Minister Vladimir Putin expressed some doubt about future relations between the two countries, and tensions over allegations that Ukraine supplied arms to Georgia remain strong. ‘I don't think there is a graver crime than supplying arms to a conflict zone,’ Putin said. The Czech government is concerned over intensified intelligence activity ...