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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: Inflation in Poland rose for the fifth consecutive month in August, reaching 4.3 percent. Kateřina Klosová will lead the board of directors of the Czech branch of Dun & Bradstreet. The inflation rate in Turkey has slowed to 52 percent, helped by high interest rates. Saudi oil revenues will fall more than expected this decade, the IMF says. The average wage in the Czech Republic has risen to 45,854 CZK, growth was below market expectations. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. IfW: The German economy will continue to decline this year. PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year. CZSO: Industry and construction continued to decline year-on-year in June, trade remained in the black. Excellent: Foresters will receive 2 billion CZK for farming next year instead of 500 million. Italian industrialists support a return to nuclear power with the aim of reducing energy costs. Moody's: The largest number of Russian-owned companies in the EU is registered in the Czech Republic. Prices in industry in the Czech Republic accelerated growth, while in agriculture they slowed down the decline. CNB: Czech household debts rose to almost 2.32 trillion CZK in July. Study: 400 entrepreneurs went bankrupt in July, the least this year. The inflation rate in Germany slowed to 1.9 percent in August. Reuters: China faces a rise in obesity due to economic problems and automation. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Exports from Germany accelerated their decline in June, but industrial production increased. Economist Hampl: The Czech Republic did not sufficiently realize how the world had changed after 2019. The Japanese economy grew significantly faster than expected in the quarter. AP: The Olympics were a success for Paris, but a disaster for some companies. The German economy will show zero growth this year, the Ifo Institute estimates. Deloitte survey: Companies use AI in customer service or marketing. Survey: Electricity and gas are still the dominant energy sources for Czech companies.

Stock exchanges: The price of gold is at another record, surpassing the threshold of USD 2,550 per troy ounce. Wood Mackenzie: Replacing China in copper supplies is impossible.

Finance: Analysis: Germany remains by far the largest net payer in the EU. The Russian Central Bank raised the base interest rate by one percentage point to 19 percent. Index: Mutual funds generally continued to make profits for investors in July. The net profit of the ČSOB group in the first half of the year rose by two percent to CZK 9.5 billion. MF: The number of new building savings contracts in the first half of the year increased by 4.1 percent. Registry: Czechs' debt in the second quarter increased by 6.7 percent to CZK 3.44 trillion. Hypoindex: The average mortgage rate in September fell by 0.04 points to 5.38 percent. Analysts: New mortgage rules may not make early repayments more expensive. The Hungarian Central Bank has stopped cutting interest rates. The banking association has worsened this year's economic outlook, expecting growth of 0.9 percent. UniCredit Bank: Disadvantage of investments in residential real estate has decreased. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. Analysts: The price of gold, which has been breaking records this year, will probably continue to rise. Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. Creditas bought an office building project in Prague's Karlín from Sekyra Group. Fitch downgraded Israel's rating due to increased tension in the Middle East.