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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: Kyocera AVX Components' net profit increased year-on-year to 171 million crowns. Analysts: The industry is going through a recession, which is only being mitigated by strong car production. Orders from German industry have fallen, German exporters are now pessimistic. Czech foreign trade ended in a surplus of 18.2 billion crowns in June. Survey: Companies want to get rid of workers on a contract basis due to upcoming changes. Česmad: Orders for truck carriers are decreasing, this may be a harbinger of a crisis. The inflation rate in Turkey is increasing significantly again, reaching 58.9 percent. Vinyl producers GZ Media saw sales rise to 5.6 billion CZK last year, with profits reaching a billion. Russia will begin testing the use of a digital ruble among consumers. Budget execution should not depend on dividend withdrawal, says opposition. Entrepreneurs appeal to government to remove obstacles to strategic investments. Budget deficit fell to 194.6 billion crowns at the end of August. Eurozone inflation remained at 5.3 percent in August, growth was expected to moderate. Analysts: The period of decline in average real wages is the longest in the history of the Czech Republic. Inflation in Germany slowed to 6.4 percent in August according to EU methodology. Chinese exports and imports fell by double digits in July, more than expected. Analysis: Despite the decline in Europe, the Czech Republic still had the ninth highest inflation in July. GDP fell year-on-year, but grew quarter-on-quarter, stagnation is expected for the whole year. Study: Bankruptcies of companies and entrepreneurs increased in the Czech Republic in August. Inflation continued to slow down, falling to 8.8 percent in July. The Czech National Bank's foreign exchange reserves fell by 16.4 billion euros year-on-year in July.

Stock exchanges: Oil is falling due to concerns about the Chinese economy and a stronger dollar. The price of gold has fallen to a five-month low of below 1,890 dollars per ounce. Bloomberg: Prices for one of the most popular diamond sizes are falling sharply. Analysts: A global lithium shortage could occur as early as 2025.

Finance: Insurance companies collected 84.7 billion CZK in premiums this year, up 5.7 percent year-on-year. Index: Most mutual funds made money for investors this year, most of all equity funds. Swiss bank UBS had a record profit thanks to the takeover of Credit Suisse. The Turkish central bank unexpectedly raised the base interest rate to 25 percent. BBC: Former head of the British central bank will head the Bloomberg board. Hypoindex: The average mortgage rate fell to 6.19 percent at the beginning of August. Partners received a banking license from the Czech National Bank, the new bank will be called Partners Bank. China has cut interest rates again due to the stalling economic recovery. The Partners group expects to open Partners Bank to clients in the spring. Slovaks are facing higher mortgage payments, most households can handle it, according to the authorities. The Russian central bank will not buy foreign currencies until the end of the year. China unexpectedly reduced some interest rates on loans to support the economy. Comparator: Ten bond issuers have been insolvent in a year and a half, or 1.7 percent. Analysts: The decline in the price of gold is due to the strengthening of the dollar. The net profit of the ČSOB group in the first half of the year fell by six percent to 9.5 billion crowns. Association: The number of payment cards in the Czech Republic increased by 750,000 this year to 14.75 million. The six largest banks in the Czech Republic saw their profits fall by 2.5 billion to 37.1 billion CZK year-on-year. Survey: A quarter of people in the Czech Republic have experienced a store stopping accepting cards. S&P agency downgrades Casino chain, indicating probable bankruptcy. The central bankers' symposium in Jackson Hole has begun, Powell's speech is awaited.