2 730,00 USD

ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: E15: The Czech National Bank will cut approximately 75 jobs out of 1,516 due to savings. The inflation rate in Turkey fell for the first time in four months, to 61.4 percent. China's gross domestic product rose by 4.9 percent year-on-year in the third quarter. In recent years, the CNB has only intervened under an exchange rate commitment and last year. Unemployment in the Czech Republic fell to 3.5 percent in October, surprising analysts. Study: 869 companies were added in the Czech Republic in September, the second lowest number this year. Michl: The CNB is keeping all options open for monetary policy negotiations in November. Activity in the eurozone business sector is surprisingly continuing to decline, a survey showed. Survey: Almost half of Czechs think that inflation is now higher than last year. IMF: Germany will probably become the third largest economy this year, dethroning Japan. Investment association: The markets of the Czech Republic and Slovakia are no longer as interconnected as before 1993. Survey: Companies want to invest as much as they did at the beginning of the year by the end of the year. Inflation in Slovakia slowed to 8.2 percent in September, the lowest since last year. Analysts: The decrease in unemployment was surprising given the decline in GDP. Survey for investors: In the region, 52 percent of people believe that lithium mining can benefit. Analysts: Planned tax changes will not affect the construction and real estate markets. CRIF: The number of bankruptcies of companies and entrepreneurs increased in the Czech Republic in October. The Chamber of Commerce proposes to abolish detailed records of vehicle logs. Study: Excise tax on sweetened beverages will bring in billions and reduce obesity.

Stock exchanges: The Czech National Bank more than doubled its gold reserves in the first three quarters. The price of gas in Europe reached its highest since February, rising by 45 percent in a week. The second largest American producer of synthetic diamonds went bankrupt. Gold rose to its highest since the end of September due to the conflict between Israel and Hamas.

Finance: The Czech National Bank warns of a company that is misusing the name J&T Investiční společnost. Hypoindex: The average mortgage rate fell to 6.01 percent in early November. Hypoindex: The average mortgage rate fell to 6.01 percent in early November. Analysis: Health insurance for foreigners became cheaper by 40 percent after the abolition of the monopoly. Société Générale has lower revenues and profits in the quarter due to problems in France. Komerční banka's profit fell by 4.9 percent to CZK 12.4 billion in three quarters. Křetínský: EU is losing competitiveness against the US due to climate policy. The Turkish central bank raised the base interest rate to 35 percent. The IMF lowered its estimate of global economic growth for 2024, leaving this year's unchanged. Bank of America increased its quarterly profit by a tenth, but Goldman Sachs' profit fell. The Fed left the base interest rate unchanged, as expected. JP Morgan and Wells Fargo increased their profit year-on-year, benefiting from the growth in interest income. Analyst: Commodity prices on the markets have rather fallen this year, the index is down 6.8 percent. UBS had a loss of USD 785 million in the quarter due to the costs of taking over Credit Suisse. Hypomonitor: The volume of mortgages in September rose by 90 percent year-on-year, rates fell. The European Investment Bank will provide a loan of 24 billion CZK for the development of the Czech railway. Partners Bank plans to start operations for the public in March 2024. PPF Group had a net profit of 17.4 billion CZK in the first half of the year compared to a loss of 9.8 billion last year. Study: Developers pay for projects in addition to equity most often from loans. The Polish central bank left interest rates unchanged, a decrease was expected. Buffett's company more than quadrupled its loss, but increased its operating profit. The Hungarian central bank surprisingly reduced the base interest rate to 12.25 percent.