14 000,00 USD

ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Analysts: May foreign trade results fell short of market expectations. Germany is still at risk of gas shortages due to extreme cold, INES warned. Deloitte survey: Companies are using AI in customer service or marketing. Analysts expect the decline in the CNB's base interest rate to slow down. Study: 400 entrepreneurs went bankrupt in July, the least this year. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Analysts: The global outage of IT systems dealt another blow to supply chains. Czech industry is still in a slump, falling by 3.4 percent year-on-year in June. The volume of wealth per person increased the most in Turkey, despite inflation. Study: The number of entrepreneurs in the Czech Republic is decreasing, there were 4,041 fewer in the first half of the year. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Survey: Electricity and gas are still the dominant energy sources for Czech companies. Survey: The heads of the largest British companies had record incomes last year. Exports from Germany accelerated their decline in June, but industrial production increased. Analysts: The June slump in construction indicates a major problem in the sector. Analysts: The June foreign trade surplus significantly exceeded market estimates. The Czech Republic's foreign trade showed a surplus of CZK 29.3 billion in June, which was higher year-on-year. Inflation in China surprisingly accelerated to 0.5 percent, production prices are falling. Unemployment remained at 3.6 percent in June, analysts expect a gradual increase.

Stock markets: The price of gold is at a record high, reaching above $2,482 per troy ounce this morning. The Czech National Bank bought almost six tons of gold in the second quarter, holding 41.49 tons. The verification unit for manganese extraction at Chvaletic is operating continuously. Oil prices closed at their lowest levels since mid-June.

Finance: FT: The shipyard that built the Titanic is fighting for survival; it is negotiating an emergency loan. Russia's largest bank Sberbank increased its profit in the first half of the year. The Bank of Japan raised its base rate to 0.25 percent. UniCredit Bank: Wealth is concentrated in men's accounts. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. The net profit of the Moneta bank in the first half of the year increased by 9.1 percent to 2.7 billion CZK. UniCredit: The economies of Central and Eastern Europe will grow by 2.7 percent this year. The J&T Arch fund became the second largest shareholder of Tatra mountain resorts. Analysis: Banks reduce interest rates on savings accounts, the highest generally below five percent. Analysts: The most advantageous investments include funds with quality bonds. Bain Capital will buy financial software supplier Envestnet for 4.5 billion USD. Fitch downgraded Israel's rating due to increased tension in the Middle East. Analysis: Germany remains by far the largest net payer in the EU. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell. Creditas bought an office building project in Prague's Karlín from Sekyra Group. The ECB, as expected, left the base interest rate at 4.25 percent. JPMorgan Chase significantly increased its profit in the quarter, while Wells Fargo's fell. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Komerční banka's profit fell by more than a fifth in the first half of the year to CZK 6.3 billion. In the first half of the year, 4.12 million people had supplementary pension insurance, 100,000 fewer than last year. The American bank Goldman Sachs more than doubled its profit in the second quarter. The financial literacy of Czechs has not changed according to the Czech Banking Association index.