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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: The Association of Research Organizations does not agree with cutting money for applied research. Analysts: Czechs' concerns about the economic situation are behind the decline in retail sales. Inflation in Slovakia slowed to 8.2 percent in September, the lowest since last year. GDP in the 2nd quarter fell by 0.6 percent year-on-year, below the pre-pandemic level. The Czech National Bank added two commemorative silver coins to the 2025 plan. Study: 869 companies were added to the Czech Republic in September, the second lowest number this year. The inflation rate in Turkey fell for the first time in four months, to 61.4 percent. The Czech National Bank left the interest rate at seven percent, the crown strengthened significantly. Survey: Almost half of Czechs think that inflation is now higher than last year. The Chamber of Commerce proposes to abolish detailed records of vehicle registration. The Czech National Bank has worsened its economic outlook, expecting a decline in GDP this year, weaker growth next year. Unemployment in the Czech Republic remained at 3.6 percent in September, the weak economy is not showing. CRIF: The number of bankruptcies of companies and entrepreneurs increased in the Czech Republic in October. Inflation in Britain remained at 6.7 percent in September, a slight decline was expected. The crown strengthened by 12 haller in response to the Czech National Bank's decision to keep rates unchanged. ECB head: Inflation in the eurozone will return to the two percent target in 2025. In recent years, the Czech National Bank has intervened only under an exchange rate commitment and last year. Bloomberg: CEO departures from US companies are at a record high this year. Analysts: The CNB's decision to keep rates unchanged is due to higher October inflation and a weaker crown. Industry and construction remain weak, with a drop in imports helping the trade balance.

Stock exchanges: The price of gas for the European market continues to rise, climbing to 50 euros per MWh. FT: Can Europe be green without important minerals from China?. Gold rose to its highest level since the end of September due to the conflict between Israel and Hamas. The price of gold fell to its lowest level in almost seven months, approaching 1800 USD per ounce. The price of gold fell to a six-month low of around 1870 USD per ounce. The price of gold rose to a weekly high due to the Middle East.

Finance: Raiffeisenbank's net profit fell by 27.5 percent this year to 3.96 billion CZK. IBM bought the Czech-American software company Manta. Deutsche Bank's net profit in the third quarter fell by eight percent due to taxes. Index: The average Czech investor in funds earned 5.1 percent by the end of September. The largest Russian bank, Sberbank, had another record profit in the third quarter. China recorded a quarterly outflow of foreign direct investment. PPF Group had a net profit of CZK 17.4 billion in the first half of the year, compared to last year's loss of CZK 9.8 billion. The IMF lowered its estimate of global economic growth for 2024, leaving this year's unchanged. Analysis: Health insurance for foreigners became cheaper by 40 percent after the abolition of the monopoly. Buffett's company more than quadrupled its loss, but increased its operating profit. Survey: 17 percent of Czech men and 25 percent of Czech women invest, the amount of men's investments is higher. Křetínský: The EU is losing competitiveness against the US due to climate policy. The Turkish central bank increased the base interest rate to 35 percent. The Russian Central Bank raised interest rates more than expected. Bank of America increased quarterly profit by a tenth, but Goldman Sachs' profit fell. Moneta Money Bank's net profit fell by 3.7 percent year-on-year to CZK 4 billion. Komerční banka's profit fell by 4.9 percent to CZK 12.4 billion in three quarters. Reuters: China's Country Garden has not paid its debt repayment, creditors want to negotiate. IMF: About five percent of banks may have problems in the event of an economic downturn.