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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 foreign trade ended in a surplus of 18.2 billion crowns in June. Turkey's inflation rate resumed growth in July, reaching 47.83 percent. Russia will begin testing the use of a digital ruble among consumers. Analysts: Industry is going through a recession, which is only being mitigated by strong car production. Inflation in Germany slowed to 6.4 percent in August according to the EU methodology. Bundesbank: The German economy will probably stagnate again in the third quarter. CRIF study: 333 bankruptcies of entrepreneurs were declared in July, the lowest this year. Chamber of Commerce: Lack of workers threatens strategically important projects. Japan's economy accelerated its growth rate to six percent in the second quarter. FT: Chinese companies' interest in mergers and acquisitions in the US is the lowest in almost 20 years. The crown weakened by tens of pennies after the CNB's decision to end interventions. GDP fell year-on-year, but grew quarter-on-quarter, stagnation is expected for the whole year. The US economy grew less than expected in the quarter after data revisions. Chamber of Commerce: Excessive administration costs the state and companies billions of crowns. The CNB did not change the interest rate, ended the intervention regime to support the crown. Chinese exports and imports fell by double digits in July, more than expected. The CNB worsened the economic outlook, expecting GDP growth of 0.1 percent this year. Survey: One in ten companies perceives the impact of the crisis on their business as very significant. According to the Ministry of Finance, Czech GDP will fall by 0.2 percent this year, annual inflation will be 10.9 percent. Unemployment rose to 3.5 percent, according to analysts, this is a seasonal development.

Stock markets: Gold price falls below $1,900 per ounce, lowest since late June. Analysts: Global lithium shortage could hit as early as 2025. Gold price falls to five-month low below $1,890 per ounce.

Finance: Partners receives Czech National Bank banking license, new bank to be named Partners Banka. CNBC names Czech company Spendee among world's top 200 fintech companies. Swiss bank UBS posts record profit after Credit Suisse takeover. Association: Non-banking firms provide 5.5 percent more money in first half of year. BBC: Former Bank of England chief to head Bloomberg board of directors. UBS to pay large fine in US over mortgage-backed securities. The British central bank, as expected, raised the base interest rate to 5.25 percent. Insurance companies collected 84.7 billion CZK in premiums this year, up 5.7 percent year-on-year. Sberbank reported a record profit of 380.3 billion rubles for the quarter. Payment company PayPal launched its own stablecoin pegged to the dollar. Slovaks are facing higher mortgage payments, most households can handle it, according to the authorities. Air Bank Group's net profit fell by 28 percent this year to 1.244 billion CZK. Powell: It is not certain whether interest rates are high enough to tame inflation. Société Générale returned to profit in the second quarter. Russian Raiffeisenbank introduces a fee of 1,000 USD for transfers in dollars to Russian accounts. British bank HSBC more than doubled its half-year profit thanks to high interest rates. Indian Minister: Dollar will not lose influence in the world economy for a long time. Partners Group expects to open Partners Bank to clients in the spring. Turkey will limit the use of credit cards, wants to reduce the outflow of foreign exchange abroad. Comparator: Ten bond issuers are insolvent in a year and a half, or 1.7 percent. WSJ: Visa and Mastercard are preparing to increase fees for merchants. Hypoindex: The average mortgage rate fell to 6.19 percent in early August.