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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: Slovakia's trade surplus was at this year's low of 367 million euros in May. Coface: Czech companies are among the worst in the region in publishing financial statements. Satisfaction with the standard of living of households is greater than with the country's economic situation. China's economic growth slowed in the second quarter, falling short of analysts' estimates. CNB: Czech household debts to banks rose to 2.293 trillion CZK in May. FAZ: UEFA will make a fortune from the football Euro, but the German taxpayer will cry. Study: The number of entrepreneurs in the Czech Republic is decreasing, there were 4,041 fewer in the first half of the year. Analysts: Czech industry fell the most significantly in May since September last year. Analysts expect the decline in the CNB's base interest rate to slow down. Analysts: The June reduction of inflation to the CNB target is surprising, the crown has weakened. Analysts: The CNB Bank Board will continue to cut rates, the question is how significantly. The financial administration recovered tax arrears for CZK 16.7 billion last year, more year-on-year. CNB: The Czech Republic's foreign debt increased by CZK 230.6 billion in the 1st quarter to CZK 4.853 trillion. IMF warns of the impacts of generative artificial intelligence on the labor market. Analysts: The development of agricultural producer prices gives hope for cheaper food. Study: 342 companies went bankrupt in the Czech Republic in the 1st half of the year, four more than a year ago. Analysts: The global IT system outage dealt another blow to supply chains.

Stock exchanges: Rio Tinto's lithium mining project in Serbia does not harm nature, the company claims. The price of gold is at a record high, reaching above 2482 USD per troy ounce this morning. The verification unit for manganese extraction at Chvaletic is operating continuously.

Finance: KKCG will issue bonds for at least five billion crowns. FT: The shipyard that built the Titanic is fighting for survival; it is an emergency loan. Banks in the US have passed the Fed's stress tests, they would survive even a sharp decline in real estate. The Hungarian central bank has reduced the base interest rate to 6.75 percent. Two members of the CNB bank board disagreed with the new reserve for banks. Analysis: Banks are reducing interest rates on savings accounts, the highest is already below six percent. 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?. Czech banks were not affected by the outage, and the stock exchange and nuclear power plants were also unaffected. CNB: The number of exchange offices in the country decreased again last year, the situation improved thanks to inspections. Russia's largest bank Sberbank increased its profit in the first half of the year. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Bain Capital will buy financial software supplier Envestnet for USD 4.5 billion. Moneta bank's net profit in the first half of the year rose by 9.1 percent to CZK 2.7 billion. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. A third of central banks intend to increase gold reserves in the next 12 months. The Office of the Competition and Consumer Protection has authorized SAB Financial Group to purchase a controlling stake in Trinity Bank. The Hungarian Central Bank has reduced the base interest rate to seven percent. J&T Arch Fund has become the second largest shareholder of Tatry mountain resorts. CNB: Banks' net profit rose by 22 percent in the first quarter to CZK 25.9 billion. China's central bank surprisingly lowered the base interest rate to 1.70 percent. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. The British central bank, as expected, left interest rates unchanged. The Russian central bank increased the base interest rate by two percentage points to 18 percent.