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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: Czech glassmakers are not competitive, but the Chamber of Commerce and Industry claims to support them. The threat of an economic recession in the US has decreased, according to a survey of economists. Customs officers collected CZK 162.3 billion in taxes last year, CZK 2.9 billion less year-on-year. CNB: Czech household debts to banks rose to CZK 2.253 trillion in January. Japan avoided recession, according to the revision of GDP for the fourth quarter. Germany's economic problems are dragging down the economies of Eastern European countries. Real wages in the Czech Republic have fallen again, according to analysts they are at the level of 2017. EY: Chinese companies took over the fewest European companies last year since 2012. Japan slipped into recession, losing its position as the world's third largest economy. Inflation fell in January, some experts expect it to be below three percent. European Free Trade Association countries invest $100 billion in India. Analysts: The economy was dragged down by household consumption dampened by high inflation. The Czech economy performed better than the Czech National Bank expected in the fourth quarter. According to the FT and Statista, the fastest growing company in Europe is Czech Raylyst. Deloitte: The number of mergers and acquisitions in Europe and the UK fell by 24 percent last year. The inflation rate in Turkey continues to grow, exceeding 67 percent in February. Bloomberg: Germany's days as an industrial superpower may be coming to an end. The Czech National Bank will take the exchange rate of the crown into account when further reducing rates. 85 percent of Czechs perceive the effects of inflation, but expect it to be better.

Stock exchanges: KoBold sees other discoveries with hope after discovery of rich copper deposit in Zambia. Gold price falls below $2,000 per ounce for first time in two months. Gold price hits new record high after unemployment report. Polymetal International agrees to sell Russian assets for $3.7 billion. Gold exports from Switzerland hit six-year high in January.

Finance: UniCredit Bank: Real estate investments were less disadvantageous in February than in January. Crowdfunding investment volume rose by CZK 2 billion to CZK 3 billion last year. Reuters: Deutsche Bank intends to file for liquidation of Chinese developer. Analysts: Interest rate cut will not have immediate impact on real estate market recovery. Partners Bank from Partners financial group is starting operations these days. Association: Non-banking companies provided 13 percent more money last year. The Turkish central bank left the base interest rate at 45 percent, the lira continues to fall. Billionaire Buffett's Berkshire Hathaway achieved a record net profit. According to the head of the Italian central bank, the ECB should start cutting interest rates soon. Analysis by Portu: Banks are starting to take the CNB's rate cut into account in savings accounts. Capital One is buying credit card issuer Discover for USD 35 billion. Some banks are advising clients not to withdraw money from Euronet ATMs. Hypoindex: The average mortgage rate rose to 5.62 percent in early March. Retail investors have been withdrawing from European real estate funds for almost a year. The American bank NYCB is in trouble, has secured a billion-dollar financial injection. Banks provided mortgages worth CZK 13 billion in January, double the year-on-year figure. Last year, banks provided loans to companies for 688 billion CZK, 192 billion less year-on-year. Survey: Two-thirds of Czechs regularly save money for retirement. IIF: Global debt rose to a record 313 trillion dollars last year. Index: Mutual funds made investors a profit in January, equity funds two percent. The German and Dutch central banks had multi-billion losses last year.