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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: ČNB: The balance of payments ended in a deficit of CZK 3.7 billion in the second quarter. According to the Ministry of Finance, the average wage in the Czech Republic could exceed CZK 54,000 within three years. Excellent: Foresters will receive CZK 2 billion instead of CZK 500 million for farming next year. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Analysts: Wage growth fell short of expectations, high-income earners are growing faster. Inflation in Poland rose for the fifth month in a row in August, reaching 4.3 percent. Saudi Arabia's oil revenues will fall more than expected this decade, according to the IMF. Analysts: The revival of consumption is gradual, due to concerns about economic development. IfW: German economy to continue to decline this year. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. AP: The Olympics were a success for Paris, but a disaster for some businesses. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. The German economy will show zero growth this year, the Ifo Institute estimates. Italian industrialists support a return to the core in order to reduce energy costs. Reuters: The German economy will decline again this year, leading economic institutes expect. The inflation rate in Germany slowed to 1.9 percent in August. The budget deficit will be a maximum of CZK 231 billion next year, the state will not abolish the windfall tax. Prices in industry and construction rose in August, while in agriculture they fell again. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the US. Japan's economy grew at a rate of 2.9 percent in the second quarter, more was expected. The number of corporate bankruptcies in Germany rose by almost a quarter in the first half of the year. Analysts: The August deterioration in sentiment among companies and consumers is disappointing. Prices in industry in the Czech Republic accelerated growth, while in agriculture they slowed down the decline. onsemi: Without an investment incentive, production in Rožnov could not have expanded.

Stock exchanges: The platinum market is likely to show the largest deficit in the last ten years this year. The price of gold has exceeded $2,500 per troy ounce for the first time in history. Wood Mackenzie: Replacing China in copper supplies is unfeasible.

Finance: IMF has agreed with Ukraine to release another $1.1 billion. Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. Survey: Almost 70 percent of Czech adults save for retirement somehow. Analysts: New mortgage rules may not make early repayment more expensive. Reuters: More and more ECB officials are leaning towards a September interest rate cut. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. Air Bank Group's net profit rose by five percent to 1.3 billion CZK in the first half of the year. It's time to cut interest rates, said the head of the US central bank. Analysts: Floods in Central Europe can cause losses of up to billions of euros. Of the commodities on the markets this year, gold and cocoa have become more expensive, while cotton and wheat have become cheaper. Raiffeisen Bank shares are weakening after shares of its branches were frozen in Russia. Index: Mutual funds generally continued to make money for investors in July. The market value of Buffett's Berkshire exceeded a trillion dollars. Partners Bank has 70,000 clients in six months, more than other new banks. The Bank of Japan left interest rates unchanged. The Swiss Central Bank reduced the base interest rate by a quarter of a point to 1.00 percent. The Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. MMR: To buy an average-sized apartment in the Czech Republic, five annual household incomes are needed.