Tuesday, 6 October 2009

Czech 9-Mo New Car Registrations Up 8% On Yr At 117,748 Units

Tue, Oct 6 2009, 09:52 GMT
http://www.djnewswires.com/eu

Czech 9-Mo New Car Registrations Up 8% On Yr At 117,748 Units

PRAGUE (Dow Jones)--Czech new passenger car registrations rose 8% on the year in the nine months through Sept. 30, to 117,748 units from 109,000 in the year-earlier period, Czech Car Importers' Association, or SDA, said Tuesday.

Sales of light utility vehicles, or LUVs, dropped 66% on the year to 15,829 units, in part reflecting the economic downturn and recent changes to tax laws allowing companies to deduct VAT on standard passenger cars, including saloons.

Under previous regulations, companies could only deduct VAT on cars that had installed special metal mesh barriers separating the passenger from cargo sections, disqualifying many car models.

As in previous months, the leading car makers by sales on the Czech market are Czech Skoda Auto AS and its German parent Volkswagen AG (VOW.XE), Ford Motor Co. (F), and Renault SA (RNO.FR).

SDA Web site: www.sda-cia.cz

   Go to http://blogs.wsj.com/new-europe for the new Dow Jones blog on Central and Eastern Europe, covering business, politics, society and more, written by our correspondents across the region.


-By Leos Rousek, Dow Jones Newswires; +420 222 315 290, leos.rousek@dowjones.com

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October 06, 2009 05:52 ET (09:52 GMT)


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Iraqi Fin Min: IMF Granted $5 Billion To Iraq For Budget

Iraqi Fin Min: IMF Granted $5 Billion To Iraq For Budget

ISTANBUL (Zawya Dow Jones)--Iraq has been granted $5 billion by the International Monetary Fund to support the government's budget, Iraqi Finance Minister Baker al-Zubaidy said Tuesday.

"We reached an agreement on an IMF loan for about $5 billion," he told reporters in Istanbul, speaking on the sidelines of the IMF's annual meeting.

The funds will be disbursed between 2010 and 2011, he said.

"We will not spend on the oil or electricity sector [any more]," he said, adding that such projects will be financed through the private sector.

Al-Zubaidy also said he has been meeting with French Finance Minister Christine Lagarde to discuss the country's investments in Iraq's oil sector.

-By Maria Abi-Habib, Dow Jones Newswires; +9714 364 4962; maria.habib@dowjones.com

Copyright (c) 2009 Dow Jones & Co.

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October 06, 2009 06:03 ET (10:03 GMT)


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