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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: Industry and construction returned to decline in March, foreign trade exceeded estimates. The British economy emerged from recession in the quarter, growing by 0.6 percent. Explosia Pardubice had a record pre-tax profit of 284 million crowns last year. Analysts: Slowing inflation and rising real wages are increasing Czechs' appetite for spending. State agency CzechInvest has opened a new foreign office in Taiwan. Analysts: March's decline in construction output is disappointing. Two members of the CNB bank board considered a faster rate cut. Spain will introduce a 15 percent tax for large companies, following up on an EU directive. Confederation of Industry: The Czech economy needs to finalize a number of details to recover. The volume of tax arrears increased by CZK 3.7 billion last year to CZK 110.4 billion. Study: There were 22.8 million dollar millionaires last year, the most since 1997. Doosan is investing three billion crowns in Pilsen, wants to produce new generators there. The problems of the German economy are worrying Germany's neighbors, from Switzerland to Poland. Analysis: Investments by global companies in artificial intelligence will approach the GDP of the Czech Republic this year. Analysts expect an increase in inflation in April, mainly due to fuels. Survey: The biggest bureaucratic nonsense is registering work performance agreements. Analysis: Double taxation of dividend income causes investors millions in losses. Analysts: Improved confidence in the economy indicates a revival of the economy in the Czech Republic.

Stock exchanges: Commodity prices are generally increasing on the markets this year, their index added 5.5 percent. Mining company BHP wants rival Anglo American, would create the largest copper producer. Mining company Anglo American rejected a takeover offer from rival BHP. Bloomberg: Saudi Arabia plans to launch a secondary offering of Aramco shares. The price of gold is at a record low, falling just below $2,450 per troy ounce. TASS: Russia intends to get rid of its dependence on lithium imports by 2030. Bloomberg: BHP is considering improving its takeover offer for rival Anglo American.

Finance: Association: Non-banking companies provided CZK 67 billion this year, one percent more than last year. Raiffeisenbank's net profit rose by 62 percent in the first quarter to CZK 1.4 billion. Berkshire Hathaway's operating profit rose to a record in the quarter. CBA: One fifth of Czechs plan to get a mortgage, half of them have postponed the application in the past. Křetínský EPEI has acquired a stake in a company developing a cancer treatment method. Banks' attitude towards the defense industry is still a complication for companies, said Hynek. The European Central Bank will probably lower interest rates. Moneta Bank's net profit in the first quarter rose by 5.8 percent to CZK 1.3 billion. PPF Group CEO Jiří Šmejc ruled out the sale of Air Bank. The Hungarian Central Bank has lowered the base interest rate to 7.25 percent. The central banks' plans will probably complicate the prospects of the eurozone, warns an economist. Survey: One third of companies believe that the euro will be used in the Czech Republic by 2030. Prices in the Czech Republic have increased by 29 points in 20 years of EU membership to 84 percent of the average for EU countries. ČSOB: Prices of apartments, houses and land in the 1st quarter started to rise slightly after a decline. Banks provided mortgages worth 21.9 billion crowns in April, double the year-on-year amount. Russia's largest bank Sberbank increased its profit by 11 percent in the first quarter. Bloomberg: A woman could become the head of the Spanish central bank for the first time. Analysis: Inflation in Central Europe is recovering, in the Czech Republic it should be 3.7 percent in 2024. Index: Mutual funds lost money in April, but have generally been making money since the beginning of the year. Česká spořitelna is negotiating the transfer of the Reico fund to the Czech branch of Erste AM.