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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: Analysis: Investments in artificial intelligence are falling in Europe, while they are growing significantly in the US. Inflation in Slovakia fell to 10.8 percent in June, the lowest in more than a year. Construction continues to decline, industry is growing thanks to cars, and trade is in surplus. The Czech National Bank has been less consistent with its staff's recommendations under Michle, analysts say. The ECB has launched a survey on the themes for new euro banknotes. Most Czechs continue to fear poverty due to inflation, but the number has decreased slightly year-on-year. Inflation in Germany resumed its decline in July, falling to 6.5 percent. Czech state debt exceeded three trillion crowns for the first time in the first half of the year. The markets are probably not estimating the start of rate cuts correctly, says a member of the CNB board. Inflation in Britain slowed to 7.9 percent in June, weaker decline expected. Survey: Economic activity in the eurozone is weakening faster than expected. Singer: The reason for the lack of growth in the Czech economy is also the connection with Germany. Prices of main types of fuels in Slovakia continued to fall last week. Inflation in Hungary fell to 20.1 percent in June, a larger decline was expected. CVVM: Inflation is perceived as unacceptable by the most people in the past 30 years. Analysts: Inflation is falling thanks to the comparative base, its decline will slow down. Dako-CZ achieved a record net profit of almost 440 million CZK last year. MPs already have a government package on their tables, a debate is possible from July 11.

Stock exchanges: Bloomberg: Interest in solar panels is limiting the supply of silver. The value of gold in the CNB's portfolio has increased by 65 percent since the beginning of the year. The French company Imerys will mine lithium from a large deposit in Britain. The Ministry of the Environment has returned the documentation of the impacts of manganese mining near Chvaletic to be revised.

Finance: Reuters: SoftBank is considering listing its PayPay payment division on the US stock market. Moneta's net profit in the first half of the year fell by 13.7 percent year-on-year to CZK 2.5 billion. Broker Consulting's revenues grew by 5.7 percent last year to CZK 2.8 billion. Analysts expect the CNB to keep its base interest rate at seven percent. The Russian Central Bank has increased its base interest rate to 8.50 percent, surprising the market. Czechoslovak Group has issued bonds for CZK 4.5 billion, half more than planned. Interest rate hikes have cost British households more than two trillion pounds. Allianz Trade still expects the global economy to recover in the middle of next year. The financial literacy of Czechs has not changed, according to the Czech Banking Association index. The number of corporate bankruptcies in Japan was the highest in five years in the first half of the year. As expected, the Fed raised interest rates by 0.25 percentage points. Česká spořitelna's profit fell by 16 percent in the first half of the year to 9.3 billion crowns. Analysts: The reluctance to accept card payments may be due to an effort to reduce levies. The number of exchange offices in the Czech Republic has been decreasing for a long time, with six more leaving the market last year. Turkey has raised interest rates again, the base rate has risen to 17.5 percent. SAB Finance had a pre-tax profit of 100.1 million crowns in the first half of the year. The Australian central bank will be led by a woman for the first time. Chinese developer Evergrande reported a loss of CZK 1.7 trillion in two years. JPMorgan increased its profit by 67 percent, Wells Fargo also has a higher profit, Citi's profit fell. UN: Global public debt rose to a record USD 92 trillion last year. UN countries pledged USD 1.5 billion for Sudan, Guterres is concerned about violence. KB survey: Over two-thirds of Czechs now pay exclusively cashless. Reuters: Broker eToro will sell shares on the secondary market for USD 120 million.