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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: PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. The Czech Republic's foreign trade showed a surplus of CZK 29.3 billion in June, up year-on-year. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. Sales in services continue to grow, rising by 2.5 percent year-on-year in the second quarter. Inflation in Poland rose for the fifth month in a row in August, reaching 4.3 percent. Analysts: The deterioration in sentiment among companies and consumers in August is disappointing. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. Czech industry is still in a slump, falling by 3.4 percent year-on-year in June. Turkey's inflation rate slowed to 52 percent, helped by high interest rates. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis. Japan's economy grew significantly faster than expected in the quarter. According to the Ministry of Finance's prediction, the average wage in the Czech Republic could exceed CZK 54,000 within three years. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. Analysts: Wage growth has lagged behind expectations, high-income earners are growing faster. Deloitte survey: Companies are using AI in customer service or marketing. CNB: Czech household debt rose to almost CZK 2.32 trillion in July. Survey: The heads of the largest British companies have record incomes last year. Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. CZSO: Industry and construction continued to decline year-on-year in June, trade remained in the black. Analysts: Global IT systems outage dealt another blow to supply chains. Inflation in the US was the lowest in more than three years in July.

Stock exchanges: The price of gold exceeded $2,500 per troy ounce for the first time in history. Wood Mackenzie: Replacing China in copper supplies is unfeasible.

Finance: Investors will buy back part of Revolut shares, valuing the company at $45 billion. Creditas bought an office building project in Prague's Karlín from Sekyra Group. FT: Fintech firm Revolut is preparing to sell shares for up to $500 million. Global outage affected 8.5 million Windows devices, Microsoft estimates. Insurance company: Damage to agricultural land due to frost and hail will reach CZK 2 billion. The British central bank reduced the base interest rate by a quarter of a point to five percent. The Czech National Bank imposed a fine of CZK 1.8 million on Fondee for errors in providing services. Fitch downgraded Israel's rating due to increased tension in the Middle East. The banking association worsened this year's economic outlook, expecting growth of 0.9 percent. Analysts: Funds with quality bonds are among the most advantageous investments. The six largest banks in the Czech Republic have increased their net profit by six percent this year to CZK 39.5 billion. Index: Mutual funds generally continued to earn investors in July. Banks provided mortgages worth CZK 23.8 billion in July, up 109 percent year-on-year. Analysis: Germany remains by far the largest net payer in the EU. China has cut another key interest rate in an effort to support the economy. Buffett's Berkshire Hathaway increased its profit by 15 percent to USD 11.6 billion. UniCredit Bank: The disadvantage of investing in residential real estate has decreased. Hungary's central bank has suspended interest rate cuts. Japan's central bank has increased its base rate to 0.25 percent. ČSOB Group's net profit in the first half of the year rose by two percent to CZK 9.5 billion.