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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: Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Sentix: Investor confidence in the eurozone economy has fallen again, it is the lowest since January. Study: Entrepreneurs in the Czech Republic are decreasing, there were 4,041 fewer in the first half of the year. CZSO: The savings rate of Czech households fell slightly last year to 19.6 percent. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Survey: The heads of the largest British companies have record incomes last year. Unemployment remained at 3.6 percent in June, analysts expect gradual growth. Prices in industry in the Czech Republic accelerated growth, in agriculture they slowed down the decline. Study: 400 entrepreneurs went bankrupt in July, the least this year. Inflation in the US was the lowest in more than three years in July. The Czech National Bank cut the interest rate to 4.5 percent, worsening the economic outlook. The state debt increased by 96.2 billion crowns in the first half of the year to 3.207 trillion crowns. Analysts expect a slowdown in the decline in the CNB's base interest rate. The volume of wealth per person increased the most in Turkey, despite inflation. Exports from Germany accelerated their decline in June, but industrial production increased. Study: Companies have lost the ability to come up with real innovations. Survey: Electricity and gas are still the dominant energy sources for Czech companies. Analysts: The June reduction in inflation to the CNB's target is surprising, the crown has weakened. Sales in services continue to grow, up 2.5 percent year-on-year in the second quarter.

Stock exchanges: Aluminum packaging manufacturer Ball Aerosol in Velim saw its profit rise to 566 million CZK last year. Robusta coffee beans have risen in price by 60 percent since the beginning of the year to 4,625 USD per ton. The price of gold is at a record high, reaching above 2,482 USD per troy ounce this morning. BHP and Ludnin are buying copper miner Filo for 4.5 billion Canadian dollars.

Finance: Belgian bank KBC's profit fell by four percent, and it also fell in the Czech Republic. China has cut two key interest rates, wanting to stimulate the economy. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Investors will buy back part of Revolut shares, valuing the company at $45 billion. Analysts: High-quality bond funds are among the most profitable investments. Buffett's Berkshire Hathaway increased its profit by 15 percent to $11.6 billion. JPMorgan Chase significantly increased its profit in the quarter, while Wells Fargo's fell. China cut another key interest rate in an effort to support the economy. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. Česká spořitelna's net profit rose by a third to CZK 12.4 billion in the first half of the year. The Bank of England lowered its base interest rate by a quarter of a point to five percent. The ECB, as expected, left its base interest rate at 4.25 percent. The Bank of Japan increased its base rate to 0.25 percent. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. The Office for the Competition and Consumer Protection has approved the purchase of a controlling stake in Trinity Bank by SAB Financial Group. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. The six largest banks in the Czech Republic have increased their net profit by six percent this year to CZK 39.5 billion. The Banking Association has worsened this year's economic outlook, expecting growth of 0.9 percent. UniCredit Bank: Wealth is concentrated in men's accounts. Creditas has purchased an office building project in Prague's Karlín from Sekyra Group. The net profit of the ČSOB group in the first half of the year increased by two percent to CZK 9.5 billion. Index: Mutual funds generally continued to earn money for investors in July.