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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: China has overtaken Germany in the use of robots in industry, according to the Federation of Robotics. Today, the last CNB cash desks in Pilsen, Ústí nad Labem and České Budějovice will be in operation. China's economic growth slowed to 4.6 percent in the quarter, but exceeded estimates. The Prague company of the year is the switchboard manufacturer Conteg, the sole proprietor of the goldsmith Polová. Analysts: Nobel laureates have shown the importance of institutions for prosperity. Ifo: German companies have the fewest orders since the financial crisis 15 years ago. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. The CNB has published the results of three external audits of its monetary policy model. Industrial prices slowed down year-on-year growth in September, while agriculture moderated the decline. The Nobel Prize in Economics was awarded to scientists for their research into the impact of institutions on prosperity. Business activity in the eurozone surprisingly deteriorated significantly in November. Exporters: Exports from the Czech Republic will be a record this year, significantly helped by the weakening of the koruna. SAO: The contribution of money to increasing employment of the disadvantaged cannot be evaluated. Bundesbank: Germany faces a high risk of corporate bankruptcies next year. Study: The global mergers and acquisitions market is slowly recovering, it has increased by a tenth this year. Analysts: The Czech National Bank will decide between cutting rates and maintaining their stability. Inflation in Hungary has accelerated to 3.2 percent, remaining above the central bank's target. Ifo: Excessive bureaucracy costs the German economy up to 146 billion euros per year.

Stock exchanges: Russian diamond producer Alrosa could reduce production, facing low prices. Economist: Gold investors have made around ten percent in real terms since Covid. Of the commodities on the markets this year, cocoa, coffee and gold are becoming more expensive, while corn is becoming cheaper. The price of gold has exceeded $2,700 per troy ounce for the first time.

Finance: The ECB has cut interest rates by a quarter of a percentage point, the deposit rate is at 3.25 percent. Šindel will succeed Seidler as the chief economist of the Czech Banking Association. The new head of HSBC is changing the corporate structure, the CFO will be a woman for the first time. The six largest banks in the Czech Republic have seen their net profit increase by 11 percent this year to CZK 63.3 billion. HN: PPF bought out Šmejc's stake in the Home Credit group for CZK 5.6 billion. The Czech National Bank is preparing to sell the branch building in Ústí nad Labem. Swiss bank UBS returned to profit in the third quarter, beating estimates. The British central bank cut the base interest rate to 4.75 percent, as expected. The Czech National Bank fined UniCredit Bank for not exchanging damaged banknotes. Norway's largest bank DNB will take over the Swedish investment bank Carnegie. PPF Group's net profit fell by 10.6 percent in the first half of the year to CZK 16 billion. Czech National Bank: Banks are resilient to adverse developments according to stress tests. Survey: Two-thirds of Czechs are trying to value their money, 41 percent are investing. Survey: Only 15 percent of people intend to spend more money on Christmas gifts than last year. The Russian central bank plans to start cutting interest rates next year, they are at 21 percent. Survey: Czech dollar millionaires confirm the transformation from entrepreneurs to investors. Boeing needs up to $35 billion, struggling with production problems and strikes. Allianz Trade: Global economic growth will remain around 2.8 percent until 2026. Moody's raised Cyprus's rating by two notches, to A for the first time since 2011. Morgan Stanley bank increased quarterly profit by a third to $3.2 billion. Survey: Most Czechs are going into debt due to extraordinary expenses and larger investments. Quarterly profit of Bank of America and Citigroup fell, Goldman Sachs earned more. Survey: Ten percent of Czechs cannot afford a mortgage.