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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: Japan slips into recession, loses position as world's third-largest economy. Industrial conditions worsened further in February, but less than in January. CNBC: Europe has its worst earnings season since the onset of Covid-19. Japan has avoided recession, fourth-quarter GDP revision shows. Czech glassmakers are not competitive, but the Ministry of Industry and Trade claims to support them. February inflation reached the CNB target, lower than the central bank's forecast. Deloitte: The number of mergers and acquisitions in Europe and the UK fell by 24 percent last year. Analysts expect another cut in the CNB's base interest rate. Real wages in the Czech Republic have fallen again, according to analysts they are at the level of 2017. The poorest countries have still not managed to recover from the Covid-19 pandemic, the UN says. The Czech economy performed better in the fourth quarter than the Czech National Bank expected. The inflation rate in Germany slowed to 2.5 percent in February. Fuel prices in Cuba rose by 500 percent, electricity also became more expensive. Consumer prices in China rose for the first time in six months in February. According to the FT and Statista, the fastest growing company in Europe is the Czech Raylyst. The Industrial Property Office registered 506 patent applications last year, less year-on-year. The inflation rate in Britain remained at four percent in January, an increase was expected. 85 percent of Czechs perceive the effects of inflation, but expect it to get better.

Stock markets: Gold is at another record high, a troy ounce costs more than $2,157. This year, gas, electricity and grain prices are falling, while oil, aluminum and cotton are rising in price. Draslovka and gold miner Barrick have begun commercial use of glycine leaching. Polymetal International has agreed to sell Russian assets for $3.7 billion. The price of gold is at a record high thanks to the expected reduction in interest rates in the US.

Finance: The Swiss Central Bank calls for a change in regulation, referring to Credit Suisse. The volume of crowdfunding investments increased by two billion to three billion CZK last year. Study: Banks are paying high wages even after the 2008 crisis, bonus ceilings have not worked. The J&T Arch Investments fund acquired a stake in Emma Alpha Holding for 2.5 billion CZK. IIF: Global debt rose to a record $313 trillion last year. Association: Number of payment cards in the Czech Republic rose by 1.2 million to 15.2 million last year. Boy with genetic disorder returns to the Czech Republic after surgery in France. OECD: Credit Suisse bailout by UBS has brought new risks to the Swiss economy. S&P raises Portugal's rating to A-, praises debt reduction. HSBC bank increased profit to a record $30 billion last year. Partners Bank from Partners financial group is starting operations these days. American bank NYCB is in trouble, secured a billion-dollar financial injection. Association: Non-banking companies provided 13 percent more money last year. Integration of development and export banks should be completed next year. UniCredit Bank: Real estate investments were less disadvantageous in February than in January. Allianz Trade: The number of companies insolvent in the world rose by seven percent last year. The Japanese central bank raised its base interest rate after 17 years. Survey: A third of Czechs regret not investing their excess money. Italian insurance company Generali and Austrian rival VIG report higher profits last year. The German and Dutch central banks had multi-billion losses last year. Billionaire Buffett's Berkshire Hathaway achieved a record net profit. The Russian central bank has stopped raising interest rates, the base rate is 16 percent.