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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: Analysts: The labor market remains overheated, the economic slowdown has not been reflected. Dako-CZ achieved a record net profit of almost 440 million CZK last year. Year-on-year inflation in May was 11.1 percent, month-on-month prices rose by 0.3 percent. Survey: 73 percent of people believe that they will have to reduce their expenses in retirement. Prices of main types of fuel in Slovakia continued to decline last week. Analysts: The development of Czech industry is very uncertain in the coming months. Zlín police accused nine people and 14 companies of tax evasion after a raid on Tuesday. CNB will start issuing commemorative coins with motifs of state institutions. Unemployment in June fell further to 3.4 percent, the labor market remains overheated. Analysis: Investments in artificial intelligence are falling in Europe, while they are growing significantly in the US. The state collected CZK 644.3 billion in taxes in the first half of the year, 12.5 percent more than last year. One of the rules for mortgage applications is being relaxed as of today. The MPs already have a government package on their tables, a debate is possible from July 11. The Czech state debt exceeded the three trillion crown mark for the first time in the first half of the year. Study: The average wage in the Czech Republic in euros increased by 9.8 percent this year to EUR 1,683. The economy will grow by 0.3 percent this year, and will accelerate next year, a survey by the Ministry of Finance showed. Construction continues to decline, industry is growing thanks to cars, and trade is in surplus. The number of dollar millionaires in the Czech Republic increased last year, but their assets decreased, Capgemini said. Kooperativa insurance company paid the most in corporate income tax last year. CZSO: Traditional culture in the Czech Republic lost more than 3.7 billion crowns during Covid. ECB launches survey on themes for new euro banknotes. Survey: Clients asked 80 percent of companies to extend the invoice repayment period. WIIW: Central and Eastern Europe needs a new economic model. This year's Absurdity of the Year is the VAT that a company must pay when donating an item.

Stock exchanges: The miners' parade in Jihlava reminded of the history of silver mining in the city. 12 people died in a gold mine in Venezuela, which was officially closed for a long time. IEA: The shift to clean energy increases demand for critical metals. Bloomberg: Interest in solar panels is limiting silver supply.

Finance: The number of corporate bankruptcies in Japan was the highest in five years in the first half of the year. The largest Swiss bank UBS has completed the takeover of rival Credit Suisse. WSJ: Europeans are facing a new reality they have not experienced in decades - they are getting poorer. Reuters: SoftBank is considering listing its payment division PayPay on the US stock market. Survey: A fifth of women make independent decisions about household finances and assets. UN: Global public debt rose to a record $92 trillion last year. Hypomonitor: Mortgage volume was the highest in June since summer 2022, rates fell. Three million users have used the banking identity in 2.5 years of operation. Raising interest rates has deprived British households of more than two trillion pounds. Analysis: The commodity index fell by a tenth in the first half of the year, with the exceptions of sugar and gold. The government in Berlin sees the German army as a pillar of European conventional defense. UN countries have pledged $1.5 billion for Sudan, Guterres is concerned about violence. Analysts: The reluctance to accept card payments may be an attempt to reduce taxes. The Australian central bank will be led by a woman for the first time. Bit.plus: The volume of cryptocurrency trades in May fell by a tenth. Chinese developer Evergrande reported a loss of CZK 1.7 trillion in two years. Index: Most mutual funds made money for investors this year, most of all equity funds.