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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: Analysts: Global IT system outage dealt another blow to supply chains. CZSO: Czech household savings rate fell slightly to 19.6 percent last year. Per capita wealth increased the most in Turkey, despite inflation. Survey: Electricity and gas are still the dominant energy sources for Czech companies. Chinese economic growth slowed in the second quarter, falling short of analysts' estimates. Prices in industry in the Czech Republic accelerated growth, while prices in agriculture slowed decline. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling. Exports from Germany accelerated their decline in June, but industrial production increased. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. Moody's: The largest number of Russian-owned companies in the EU is registered in the Czech Republic. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Czech construction continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Analysts: The June decline in construction indicates a major problem in the sector. The Japanese economy grew significantly faster than expected in the quarter. Deloitte survey: Companies use AI in customer service or marketing. Analysts expect a slowdown in the decline in the CNB's base interest rate. The financial administration recovered tax arrears for CZK 16.7 billion last year, up year-on-year. Study: Companies have lost the ability to come up with real innovations. PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year.

Stock exchanges: The price of gold has surpassed $2,500 per troy ounce for the first time in history. The price of gold is at a record high, reaching above $2,482 per troy ounce this morning. The producers of aluminum containers Ball Aerosol in Velim saw their profit rise to 566 million CZK last year.

Finance: The ECB, as expected, left the base interest rate at 4.25 percent. FT: Fintech company Revolut is preparing to sell shares for up to $500 million. Microsoft estimates that 8.5 million Windows devices were affected by the global outage. Analysis: Germany remains by far the largest net payer in the EU. Analysts: High-quality bond funds are among the most advantageous investments. UniCredit Bank: The disadvantage of investing in residential real estate has decreased. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. China has cut two key interest rates, wants to stimulate the economy. Fitch has downgraded Israel's rating due to increased tension in the Middle East. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. Profit of the largest Swiss bank UBS in the second quarter exceeded expectations. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. American bank Goldman Sachs more than doubled its profit in the second quarter. Index: Mutual funds generally continued to earn money for investors in July. Buffett's Berkshire Hathaway increased its profit by 15 percent to 11.6 billion USD. J&T Arch fund became the second largest shareholder of Tatry mountain resorts. Net profit of the ČSOB group in the first half of the year rose by two percent to 9.5 billion CZK. The Office of the Ombudsman has authorized SAB Financial Group to purchase a controlling stake in Trinity Bank. Banks provided mortgages worth CZK 23.8 billion in July, up 109 percent year-on-year. It is time to cut interest rates, said the head of the US central bank. The banking association has worsened this year's economic outlook, expecting growth of 0.9 percent. Analysis: Banks are reducing interest rates on savings accounts, the highest is generally below five percent. The Bank of Japan has increased the base rate to 0.25 percent.