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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: EY: Chinese companies took over the fewest European companies last year since 2012. ČNB: Czech household debt to banks rose to 2.253 trillion crowns in January. 85 percent of Czechs feel the effects of inflation, but expect it to get better. 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. Fuel prices in Cuba increased by 500 percent, and electricity also became more expensive. The inflation rate in Germany slowed to 2.5 percent in February. The Czech economy performed better in the fourth quarter than the CNB expected. The Industrial Property Office registered 506 patent applications last year, down year-on-year. Inflation slowed to 2.3 pct in January, welcomed by Fiala and Michl, opposition is critical. Analysts: The economy was dragged down by household consumption dampened by high inflation. The poorest countries have still not managed to recover from the Covid-19 pandemic, according to the UN. 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. Industrial conditions worsened further in February, but less than in January. CMKOS continues to estimate inflation at 5 pct for this year, according to it, price increases have not ended. DIW: The German economy is not recovering as quickly as expected.

Stock exchanges: KoBold is optimistic about further discoveries after the discovery of a rich copper deposit in Zambia. Gold price hits new record high after unemployment report. Russian aluminum company Rusal's profit fell last year due to lower prices. Polymetal International has agreed to sell Russian assets for $3.7 billion. Gold is at another record high, with a troy ounce costing more than $2,157.

Finance: Media: Saudi Arabia is preparing a giant fund for investments in artificial intelligence. Italian insurance company Generali and Austrian rival VIG report higher profits last year. Registers: Czech debt rose by 5.1 percent to CZK 3.31 trillion last year. Over 70 percent of Czechs are not well-versed in investments, according to a survey. S&P agency raised Portugal's rating to A-, praised the reduction in debt. Banks provided mortgages worth CZK 15.8 billion in January, double the year-on-year figure. The integration of the development and export banks should be completed next year. The volume of crowdfunding investments increased by CZK 2 billion to CZK 3 billion last year. The German bank PBB, which focuses on real estate financing, saw its profit fall sharply. Capital One is buying credit card issuer Discover for USD 35 billion. Study: 61 percent of global bank customers require a call with live operators. J&T Arch Investments acquired a stake in Emma Alpha Holding for CZK 2.5 billion. The Bank of Japan raised its base interest rate for the first time in 17 years. Analysts: The price of gold is heading for records this year, due to budget deficits. Last year, banks provided loans to companies worth CZK 688 billion, down CZK 192 billion year-on-year. Study: Banks pay high wages even after the 2008 crisis, bonus caps have not worked. Some banks advise clients not to withdraw money from Euronet ATMs. Trinity Bank's gross profit fell by 200 million to 800 million crowns last year. UniCredit Bank: Real estate investments were less disadvantageous in February than in January. The European Central Bank, as expected, left the base interest rate at 4.50 percent. Allianz Trade: The number of companies insolvent in the world rose by seven percent last year. Fitch changed the outlook for the main credit rating of the Czech Republic from negative to stable. The profit of the largest European banks exceeded 100 billion euros for the first time last year.