1 413,00 USD

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

Economy: Unemployment remained at 3.6 percent in June, analysts expect gradual growth. PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year. Exports from Germany accelerated their decline in June, but industrial production increased. The Czech National Bank lowered the interest rate to 4.5 percent, worsening the economic outlook. Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. Analysts: The global IT system outage dealt another blow to supply chains. Czech industry is still in a slump, falling by 3.4 percent year-on-year in June. Germany is still at risk of a gas shortage due to extreme cold, the INES association warned. Study: Companies have lost the ability to come up with real innovations. Last year, the financial administration recovered tax arrears worth 16.7 billion CZK, up year-on-year. Survey: Electricity and gas are still the dominant energy sources for Czech companies. The Czech Republic's foreign trade showed a surplus of 13.6 billion CZK in May, up year-on-year. The state debt increased by 96.2 billion CZK in the first half of the year to 3.207 trillion CZK. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Satisfaction with the standard of living of households is greater than with the country's economic situation. The volume of wealth per person increased the most in Turkey, despite inflation. Analysts: Czech industry fell most significantly in May since September last year. Slovakia's trade surplus in May was at this year's low of 367 million euros. The growth of the Chinese economy slowed in the second quarter, falling short of analysts' estimates.

Stock markets: Robusta coffee beans have risen in price by 60 percent since the beginning of the year to $4,625 per ton. The verification unit for manganese extraction near Chvaletici is operating continuously. Oil prices closed at their lowest levels since mid-June. The Czech National Bank bought almost six tons of gold in the second quarter, holding 41.49 tons.

Finance: UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. Of the commodities on the markets this year, gold and cocoa have become more expensive, while cotton and wheat have become cheaper. The J&T Arch fund has become the second largest shareholder of Tatra mountain resorts. The financial literacy of Czechs has not changed according to the Czech Banking Association index. The Polish central bank will cut interest rates again in 2026 at the earliest, according to its boss. UniCredit Bank: Wealth is concentrated in men's accounts. China has cut another key interest rate in an effort to support the economy. Allianz Trade: The world economy should grow by 2.8 percent this year and next. The ECB, as expected, left the base interest rate at 4.25 percent. Commodity prices on the markets increased in the first half of the year, the index added three percent. The banking association has worsened this year's economic outlook, expecting growth of 0.9 percent. Creditas Bank has acquired more than a 50 percent stake in NEY Savings Cooperative. The Bank of Japan has increased the base rate to 0.25 percent. China has cut two base interest rates, wants to stimulate the economy. Sky News: Who will pay for the worst IT outage in the world?. Komerční banka's profit fell by more than a fifth to CZK 6.3 billion in the first half of the year. FT: The shipyard that built the Titanic is fighting for survival; it is an emergency loan. The Czech National Bank has imposed a fine of CZK 1.8 million on Fondee for errors in providing services. The Office for the Protection of Consumer Rights has authorized SAB Financial Group to purchase a controlling stake in Trinity Bank. Analysis: Banks are reducing interest rates on savings accounts, the highest is generally below five percent. Russia's largest bank Sberbank increased its profit in the first half of the year. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates.