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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: Analysis: Active support for employee health can bring the state CZK 75 billion. CZSO: Sales in services in the Czech Republic increased by 1.3 percent year-on-year in the first quarter. CRIF: 500 entrepreneurs went bankrupt in the Czech Republic in May, the most this year. Analysis: Construction companies estimate a decline in construction by 1.2 percent for this year. The World Bank improved the outlook for the global economy. The British economy emerged from recession in the quarter, growing by 0.6 percent. Survey: Almost half of Czech companies use the euro in their operations. The inflation rate in the US slowed to 3.4 percent in April, as expected. Investor confidence in the eurozone economy is the highest since the start of the war in Ukraine. EU companies' interest in investing in China has fallen to a record low. FAZ: UEFA will make a fortune at the Euro football tournament, but German taxpayers will cry. IMF warns of the impact of generative artificial intelligence on the labor market. Activity in the eurozone business sector slowed significantly in June. Study: Czech Republic has the highest corporate income tax among V4 countries. CNB cuts interest rate by half a point to 4.75 pct., koruna weakens. Confederation of Industry: Czech economy needs to finalize a number of details to recover. Balance of payments in Q1 showed a surplus of CZK 104.7 billion. The volume of tax arrears increased by CZK 3.7 billion last year to CZK 110.4 billion. Analysts expect inflation to increase in April, mainly due to fuel. Study: There were 22.8 million dollar millionaires last year, the most since 1997.

Stock markets: Copper prices are at a record high, with demand supported by electric cars and data centers. The price of electricity on the German stock exchange has exceeded 100 euros per megawatt hour. The price of gas for the European market is close to this year's high, exceeding 33 euros per MWh. Mining company Anglo American is preparing a change in strategy, resisting a takeover. BHP has withdrawn from its attempt to take over Anglo American for 49 billion USD. Saudi Arabia has launched a secondary sale of shares in the oil company Aramco. Gold prices are at a record high, falling just below 2,450 dollars per troy ounce.

Finance: ČBA: One fifth of Czechs are planning a mortgage, half of whom have postponed their application in the past. The Japanese central bank has not changed interest rates, but intends to limit bond purchases. The six largest banks in the Czech Republic have increased their net profit by a fifth this year to CZK 17.9 billion. Šmejc: PPF is heading to Western markets instead of the East, but Europe lacks a longer-term vision. The European Central Bank will probably lower interest rates. CNB: There were again fewer exchange offices in the country last year, the situation has improved thanks to inspections. The profit of Russia's Sberbank could be a record again this year, said the financial director. CNB did not change the rules for mortgages, introduced a new reserve for banks. The attitude of banks towards the defense industry is still a complication for companies, said Hynek. The Hungarian central bank has reduced the base interest rate to seven percent. ČSOB: Prices of apartments, houses and land in the 1st quarter began to rise slightly after a decline. Index: Mutual funds lost money in April, but have generally been making money since the beginning of the year. Banks provided mortgages worth 21.9 billion crowns in April, double the year-on-year figure. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. The Moscow Stock Exchange stopped trading in dollars and euros due to sanctions. Two members of the Czech National Bank's bank board disagreed with the new reserve for banks. The Hungarian central bank lowered the base interest rate to 7.25 percent. Banks in the US passed the Fed's stress tests, they would survive even a sharp decline in real estate.