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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: CRIF: 500 entrepreneurs went bankrupt in the Czech Republic in May, the most this year. CNB: The Czech Republic's foreign debt rose by 230.6 billion to 4.853 trillion CZK in the first quarter. Activity in the eurozone's business sector slowed down significantly in June. Today is the last day to exchange invalid banknotes with a thin stripe in banks. CNB: Czech household debts to banks increased to 2.293 trillion CZK in May. Analysts: Czech industry fell the most significantly in May since September last year. Survey: Almost half of Czech companies use the euro in their activities. Spain will introduce a 15 percent tax for large companies, following up on an EU directive. Study: There were 22.8 million dollar millionaires last year, the most since 1997. Confederation of Industry: The Czech economy needs to work out a number of details to recover. The CNB lowered the interest rate by half a point to 4.75 percent, the koruna weakened. The balance of payments in the 1st quarter showed a surplus of CZK 104.7 billion. There is time until the end of June to exchange invalid banknotes in banks. Investor confidence in the eurozone economy is the highest since the beginning of the war in Ukraine. Study: In the 1st half of the year, seven percent more entrepreneurs went bankrupt year-on-year. The Japanese economy unexpectedly fell by two percent in the first quarter. Satisfaction with the standard of living of households is greater than with the country's economic situation. Poll: The biggest bureaucratic nonsense is registering work performance agreements. In the Entrepreneurial Head competition, a project with artificial intelligence once again scored points.

Stock exchanges: According to the WGC organization, miners are having problems maintaining the growth of gold mining. The price of electricity on the German stock exchange exceeded 100 euros per megawatt hour. The price of copper reached a record high of more than 11,000 dollars per ton. Gas for the European market is getting cheaper, the assumption of a shorter outage in Norway is helping. Bloomberg: Saudi Arabia plans to launch a secondary offering of Aramco shares. The price of gas for the European market is close to this year's maximum, exceeding 33 euros per MWh.

Finance: ČNB: The number of exchange offices in the country decreased again last year, the situation has improved thanks to inspections. The net profit of the ČSOB group in the first quarter increased by 14 percent to CZK 4.1 billion. Two members of the CNB bank board did not agree with the new reserve for banks. Capgemini: The number of dollar millionaires in the Czech Republic increased last year, their wealth increased. Creditas Bank acquired more than 50 percent stake in NEY savings cooperative. Banks' attitude towards the defense industry is still a complication for companies, said Hynek. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. Analysis: Inflation in Central Europe is recovering, in 2024 it should be 3.7 percent in the Czech Republic. The net profit of the six largest banks in the Czech Republic increased by a fifth this year to CZK 17.9 billion. The Moscow Stock Exchange has stopped trading in dollars and euros due to sanctions. ČSOB: Prices of apartments, houses and land in the 1st quarter began to grow slightly after a decline. World Council: The Czech Republic was in fifth place in the world in gold purchases in the 1st quarter. The Swiss Central Bank reduced the base interest rate by a quarter of a point to 1.25 percent. Banks in the US passed the Fed's stress tests, they would survive even a sharp decline in real estate. The Russian Central Bank recommends that companies avoid sanctions using cryptocurrencies. Index: Almost half of productive Czechs are now repaying mortgages, loans or borrowings. Banks provided mortgages for CZK 23.7 billion in May, 92 percent more year-on-year. The British Central Bank, as expected, left interest rates unchanged.