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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: WTO improves estimate of this year's growth in world trade in goods to 2.7 percent. Analysts: Nobel laureates have shown the importance of institutions for prosperity. Study: Global mergers and acquisitions market is slowly coming back to life, up by a tenth this year. SAO: The introduction of European directives did not have a significant impact on corporate tax collection. Czech society has become richer in 35 years, but it has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. The presentation of the Nobel Prizes in Science will begin on Monday, the APA has 22 favorites. The Czech National Bank has cut the interest rate to four percent, worsening the economic outlook. The IMF chief expects weak growth and high debt in the medium term. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. Analysts: August industrial growth was due to factory-wide holidays at car factories. Scientists won the Nobel Prize in Economics for research into the influence of institutions on prosperity. Study: Thanks to production at Třinecké železárny, the state earned CZK 54 billion in 14 years. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. The Czech National Bank published the results of three external audits of its monetary policy model. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, seven percent more year-on-year. Experts: The Czech economy needs cheaper energy, but it will not get it soon. The Czech National Bank plans to increase the share of stocks in foreign exchange reserves, strengthen the share of American ones. A chip development center has started operating in Brno in cooperation with Taiwan.

Stock exchanges: Gold price exceeds $2,700 per troy ounce for the first time. Rio Tinto to buy Arcadium for $6.7 billion, to become key lithium miner. BBC: Gold rush sparks ecological disaster in Ghana. CNB bought almost five tons of gold in the third quarter, holding 46.41 tons.

Finance: Swiss bank UBS returned to profit in the third quarter, beating estimates. Survey: Ten percent of Czechs cannot afford a mortgage. Šindel to succeed Seidler as chief economist of the Czech Banking Association. The six largest banks in the Czech Republic saw their net profit rise by 11 percent this year to CZK 63.3 billion. Buffett's investment firm continued to sell shares, holding record cash. The European Central Bank is likely to cut rates in October, the French governor said. 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. Morgan Stanley bank increased quarterly profit by a third to USD 3.2 billion. Allianz Trade: Global economic growth will remain around 2.8 percent until 2026. Survey: Czechs prefer real estate investments, followed by savings accounts. Hypomonitor: Mortgage volume fell by CZK 8.1 billion in September to CZK 24.2 billion. PPF will seek further acquisitions, including telecommunications, said director Šmejc. Komerční banka increased net profit by 0.9 percent to CZK 12.64 billion in three quarters. Genesis Growth Equity Fund I bought a majority stake in Slovak company TechPlasty. The Czech National Bank fined UniCredit Bank for not exchanging damaged banknotes. Survey: The share of Czechs who save over CZK 5,000 per month has risen to 27 percent. According to the head of the City, London has lost 40,000 jobs in the financial sector due to Brexit. The Hungarian central bank left the base interest rate at 6.50 percent. The Czech National Bank fined Fio Bank for violating the law against money laundering. Boeing needs up to USD 35 billion, is struggling with production problems and strikes. Pressure is growing in the ECB to further reduce interest rates, but Slovak Governor Kažimír is against it.