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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. Analysts were surprised by the increase in food prices, they are concerned about inflation next year. The government package will increase the costs of Moravian-Silesian companies by up to hundreds of millions of CZK. The economic performance in the quarter was slightly weaker than expected by the CNB. At the parliament, entrepreneurs elected Zdeněk Zajíček as president of the Chamber of Commerce of the Czech Republic. The most influential woman in the Czech Republic is Kellnerová, the third is now Pekarová Adamová. Analysts: The development of Czech industry is very uncertain in the coming months. The Turkish central bank will be led by a woman for the first time - Hafize Gaye Erkanová. OECD warns of the negative impacts of the massive use of artificial intelligence. The reserve management may only be able to reserve part of the stocks at retailers. Singer: The reason for the lack of growth of the Czech economy is also the connection with Germany. WIIW: Central and Eastern Europe needs a new economic model. The Czech National Bank will start issuing commemorative coins with motifs of state institutions. One of the biggest fraudsters in Germany received another sentence of more than eight years. The number of dollar millionaires in the Czech Republic increased last year, their assets decreased, Capgemini said. Chamber: The dismantling of excessive administration by entrepreneurs is ineffective. CZSO: Traditional culture in the Czech Republic lost more than 3.7 billion crowns during Covid. According to analysts, the Turkish economy is doing better than expected, the lira continues to fall. The Czech economy fell by 0.4 percent year-on-year in the first quarter. The ECB has launched a survey on the themes for new euro banknotes. Construction continues to decline, industry is growing thanks to cars, trade is in surplus. Goldman Sachs: In addition to China, India may also overtake the US economy by 2075. The economy will grow by 0.3 percent this year, and will accelerate next year, a survey by the Ministry of Finance showed. Bloomberg: Putin's economic forum shows Russia's deepening isolation. The compromise proposal on the US debt ceiling awaits its first test in Congress. Comments on the austerity package concern the distribution of taxes and the annuity of ex-presidents. PPF Group's net profit fell by 49 percent last year to CZK 3.36 billion. One of the rules for mortgage applications is being relaxed as of today.

Stock exchanges: IEA: The shift to clean energy is increasing demand for critical metals. Geomet company has acquired land for a lithium processing plant from Cínovce. China and Russia are investing $1.4 billion in lithium mines in Bolivia. Portugal has approved an environmental impact assessment for a lithium mine. French firm Imerys to mine lithium from vast British deposit.

Finance: Hypoindex: Average mortgage rate fell to 6.24 percent in early July. Banks block Binance cryptocurrency exchange from accessing US banking system. Berlin sees German army as pillar of Europe's conventional defense. Japan's corporate bankruptcies highest in five years in first half of year. Bern to help UBS with Credit Suisse troubles with up to 9 billion francs. Index: Most mutual funds made investors money this year, most equity funds. Study: Financial technology sector turnover to exceed CZK 30 trillion by 2030. Reuters: SoftBank considering listing PayPay payment division on US stock market. Index: Average Czech fund investor earns 5.7 percent in first half of year. Survey: One fifth of women make independent decisions about household finances and assets. The largest Swiss bank UBS has completed the takeover of its rival Credit Suisse. Three million users have used the banking identity in 2.5 years of operation.