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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: ČNB: Czech Republic's foreign debt rose by 230.6 billion to 4.853 trillion CZK in the first quarter. Analysts expect a slowdown in the decline in the CNB's base interest rate. Coface: Czech companies are among the worst in the region in publishing financial statements. Analysts: May's foreign trade result fell short of market expectations. Today is the last day to exchange invalid banknotes with a thin stripe in banks. Czech Republic's foreign trade showed a surplus of 13.6 billion CZK in May, higher year-on-year. Germany is still at risk of gas shortages due to extreme cold, the INES association warned. The volume of wealth per person increased the most in Turkey, despite inflation. Analysts expect June inflation to be close to May's 2.6 percent. The Czech National Bank (CNB) cut interest rates by half a point to 4.75 percent, the koruna weakened. CNB: Czech household debt to banks rose to CZK 2.293 trillion in May. Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. China's economic growth slowed in the second quarter, falling short of analysts' estimates. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Activity in the eurozone business sector slowed significantly in June.

Stock markets: Robusta coffee beans have risen in price by 60 percent since the beginning of the year to USD 4,625 per ton. BHP and Ludnin are buying copper miner Filo for CAD 4.5 billion. Oil prices closed at their lowest levels since mid-June.

Finance: The Czech National Bank has fined Fondee CZK 1.8 million for errors in providing services. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. Bain Capital will buy financial software supplier Envestnet for USD 4.5 billion. Česká spořitelna's net profit rose by a third in the first half of the year to CZK 12.4 billion. The Hungarian central bank has reduced the base interest rate to 6.75 percent. FT: The shipyard that built the Titanic is fighting for survival; it is negotiating an emergency loan. Kellnerová: After the death of my husband, I got to know PPF, I was more decisive last year. CNB: Banks' net profit rose by 22 percent in the first quarter to CZK 25.9 billion. US banks have passed the Fed's stress tests, they would survive a sharp decline in real estate. Analysis: Banks are reducing interest rates on savings accounts, the highest is already below six percent. J&T Arch fund has become the second largest shareholder of Tatra mountain resorts. The British central bank has reduced the base interest rate by a quarter of a point to five percent. The Russian central bank has increased the base interest rate by two percentage points to 18 percent. The Swiss central bank has reduced the base interest rate by a quarter of a point to 1.25 percent. China has reduced two key interest rates, wants to stimulate the economy. The Chinese central bank has surprisingly reduced the base interest rate to 1.70 percent. The Japanese central bank has increased the base rate to 0.25 percent. Office for the Protection of Competition: SAB Financial Group buys a controlling stake in Trinity Bank. The largest Russian bank, Sberbank, increased its profit in the first half of the year. The financial literacy of Czechs has not changed, according to the Czech Banking Association index. Sky News: Who will pay for the worst IT outage in the world?. A third of central banks intend to increase gold reserves in the next 12 months. Banks provided mortgages worth CZK 24.2 billion in June, the most since March 2022. Index: Almost half of productive Czechs are now repaying mortgages, loans or advances. The Office for the Protection of Consumer Rights has approved SAB Financial Group's purchase of a controlling stake in Trinity Bank. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell.