3 340,00 USD

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

Economy: Zlín police charged nine people and 14 companies with tax evasion after Tuesday's raid. WIIW: Central and Eastern Europe needs a new economic model. Inflation in Slovakia fell to 10.8 percent in June, the lowest in more than a year. IMF improved its estimate of global economic growth, but inflation will fall more slowly. Singer: The reason for the lack of growth in the Czech economy is also the connection with Germany. CVVM: Inflation is perceived as unacceptable by the most people in the past 30 years. Under Michl, the Czech National Bank adhered less to the recommendations of its apparatus, analysts say. Goldman Sachs: In addition to China, India may overtake the US economy by 2075. Analysts: The labor market remains overheated, the economic slowdown has not been evident. Starting today, one of the rules for mortgage applications is being relaxed. This year's Absurdity of the Year is VAT, which a company must pay when donating an item. Study: The number of bankruptcies of companies and entrepreneurs decreased year-on-year in the first half of the year. Bloomberg: Putin's economic forum shows Russia's deepening isolation. The state collected CZK 644.3 billion in taxes in the first half of the year, 12.5 pct. more than last year. Inflation in Hungary decreased to 20.1 percent in June, a larger decrease was expected. Inflation in Britain slowed to 7.9 percent in June, a weaker decrease was expected. Survey: 73 percent of people believe that they will have to reduce their expenses in retirement. Analysts: The development of Czech industry is very uncertain in the coming months. Construction continues to decline, industry is growing thanks to cars, trade is in surplus. OECD warns of negative impacts of massive use of artificial intelligence. MPs already have a government package on their tables, debate possible from July 11.

Stock exchanges: Bloomberg: Interest in solar panels limits silver supply. IEA: The shift to clean energy increases demand for critical metals. The value of gold in the CNB portfolio has increased by 65 percent since the beginning of the year. The Ministry of Environment returned the documentation of the impacts of manganese mining near Chvaletice for revision. The miners' parade in Jihlava reminded of the history of silver mining in the city.

Finance: KB survey: Over two-thirds of Czechs now pay exclusively cashless. WSJ: Europeans are facing a new reality they haven't experienced for decades - they are getting poorer. The government in Berlin sees the German army as a pillar of Europe's conventional defense. Deutsche Bank's quarterly profit fell by 27 percent, but exceeded expectations. The Russian central bank surprised the market by raising the base interest rate to 8.50 percent. Czechoslovak Group issued bonds for CZK 4.5 billion, half more than planned. According to the Czech Banking Association index, the financial literacy of Czechs has not changed. Study: The turnover of the financial technology sector will exceed CZK 30 trillion by 2030. Hypoindex: The average mortgage rate fell to 6.24 percent at the beginning of July. Analysis: The commodity index fell by a tenth in the first half of the year, with the exceptions of sugar and gold. The Australian central bank will be led by a woman for the first time. UN: Global public debt rose to a record USD 92 trillion last year. JPMorgan increased its profit by 67 pct., Wells Fargo also has a higher profit, Citi's profit fell. Three million users have used the banking identity in 2.5 years of operation. Bloomberg: Big banks are using artificial intelligence to transform the world of finance. Goldman Sachs has a 62 percent lower profit due to write-offs and lower trading volume. Bit.plus: The volume of cryptocurrency trading in May fell by a tenth. Chinese developer Evergrande reported a loss of 1.7 trillion CZK in two years. Bern will help UBS with up to nine billion francs in its problems with Credit Suisse.