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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: Media: Head of French luxury goods company LVMH is preparing to go to China. Manufacturing conditions worsened in May, for the twelfth time in a row. Association of local governments disagrees with change in tax revenue distribution. Hungary's central bank has begun easing monetary policy. Jurečka: Ministries are preparing to accelerate the recruitment of foreign workers, a solution will be found this year. S&P agency left Slovakia's rating at A+, but raised the outlook to stable. According to scientists, the future of manufacturing is artificial intelligence and virtual reality. Biden and Sunak agreed to deepen economic cooperation. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. Economic performance in the quarter was slightly weaker than expected by the Czech National Bank. The limit for small-scale contracts will not be increased, the House of Representatives has voted against the Senate. According to analysts, the Turkish economy is doing better than expected, the lira continues to fall. Bloomberg: Putin's economic forum shows Russia's deepening isolation. France will allocate half a billion euros annually for tax breaks for so-called green investments. Kooperativa insurance company paid the most in corporate income tax last year. Fiala agreed with Governor Michl on the need to continue the fight against inflation. The IMF slightly improved its estimate of this year's growth in the US economy. Prime Minister Fiala will meet with CNB Governor Michl and members of the Bank Board today. Survey: 95 percent of Czechs are worried about their financial situation due to inflation. Investors are moving to bonds, according to experts, they are attracted by high yields. The most influential woman in the Czech Republic is Kellnerová, Pekarová Adamová is now third. The government package will increase the costs of Moravian-Silesian companies by up to hundreds of millions of CZK. The number of dollar millionaires in the Czech Republic increased last year, their assets decreased, Capgemini said. The US House of Representatives has approved a law that suspends the debt ceiling. Czech National Bank: Banks' net profit increased by 32.3 billion CZK year-on-year last year to 102.6 billion CZK. Fiala: The government will soon approve an anti-bureaucratic package for entrepreneurs. Comments on the austerity package concern the distribution of taxes and the annuity of ex-presidents. The Czech National Bank will begin issuing commemorative coins with motifs of state institutions. Year-on-year inflation in May was 11.1 percent, month-on-month prices increased by 0.3 percent. The compromise proposal on the US debt ceiling awaits its first test in Congress. The Turkish central bank will be led for the first time by a woman - Hafize Gaye Erkanová. PPF Group's net profit fell by 49 percent to CZK 3.36 billion last year. NKÚ: More than CZK 48 billion paid as compensation for Covid served its purpose.

Stock exchanges: 12 people died in a gold mine in Venezuela, it was officially closed for a long time. Geomet acquired land for a lithium processing plant from Cínovce. Glencore plans to invest USD 1.5 billion in expanding a copper mine in Peru.

Finance: The largest Swiss bank UBS has completed the takeover of rival Credit Suisse. Three million users have used the banking identity in 2.5 years of operation. Donor states have pledged USD 2.4 billion to help Africa fight hunger. Bit.plus: The volume of cryptocurrency trades in May fell by a tenth. Biden and McCarthy agree to raise US debt ceiling. Czech National Bank to drop mortgage lending rules from July. Financial crime grows with EU funds, says European prosecutors' chief. Commerzbank almost doubles net profit in quarter thanks to higher interest rates. Survey: Average Czech saves more than rest of Europe and has less debt.