The privately owned Czech publisher Mladá Fronta AS announced Monday it will launch a free business daily newspaper, called E15, at the end of November.

E15 will be published five times a week, beginning at a circulation of 50,000 copies and will be styled partly after London's City A.M. free daily, according to the Associated Press.

The new business daily could put more pressure on the tight Czech print market, targeting general news dailies and the only Czech business daily, Hospodárske Noviny, owned partly by the publisher of German business daily Handelsblatt, the AP reported.

Traditional daily newspapers in the Czech Republic, such as Mladá Fronta Dnes and Lidové noviny are also facing heavy competition from free dailies such as Metro, which is published by the Czech unit of Metro International SA.