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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: According to scientists, the future of production is artificial intelligence and virtual reality. The Czech National Bank will start issuing commemorative coins with motifs of state institutions. IMF: German economic growth will hover around zero this year, then accelerate. Congo is preparing to sign a cooperation agreement with China in infrastructure and mineral extraction. The General Meeting of the Confederation of Industry elected Jan Rafaj as the new president today. At a conference in Ostrava, entrepreneurs will look for a way out of the economic crisis. According to analysts, the Turkish economy is doing better than expected, the lira continues to fall. ČSOB Index: The mood of companies in the Czech Republic has improved, it is almost the same as before the pandemic. The S&P agency left Slovakia's rating at A+, but raised the outlook to stable. The US House of Representatives approved a law that suspends the debt ceiling. Media: Central banks and governments coordinated the manipulation of interest rates during the global crisis. The economy's performance in the quarter was slightly weaker than the CNB expected. B&B Profit in the Czech Republic offers the opportunity to invest without a permit, the CNB said. The Czech Republic is entering a wage inflation spiral, says CNB Bank Board member Holub. Kofola is shocked by the proposal to increase VAT to 21 percent, the director said. The Czech economy fell by 0.4 percent year-on-year in the first quarter. This year's Absurdity of the Year is the VAT that a company must pay when donating an item. AP: Foreign companies are finding that it is not easy to leave Russia. The Reserves Administration may only be able to reserve part of the stocks at merchants. Fiala: The government now has a greater benefit than the previous two. Presidential advisor: The involvement of the Senate in the appointment of the CNB Board is being debated at the Castle. Investors are moving to bonds, experts say they are attracted by high yields. Michl: Year-on-year inflation should fall below ten percent within three months. Conditions in the manufacturing industry worsened in May, for the twelfth time in a row. CNB: Banks' net profit rose by CZK 32.3 billion year-on-year last year to CZK 102.6 billion. CNBC: Companies are increasingly returning production from abroad to places closer to consumption. The economy will grow by 0.3 percent this year, accelerating next year, a survey by the Ministry of Finance showed. Media: The head of the French luxury goods company LVMH is preparing to go to China. Negotiations to avert US insolvency are stalled, the continuation is uncertain. The most influential woman in the Czech Republic is Kellnerová, Pekarová Adamová is now third. The state collected CZK 790 billion in taxes last year, CZK 90 billion more year-on-year. Compromise proposal on US debt ceiling awaits first test in Congress.

Stock exchanges: Fiala: The draft law on corporate transformations is general, does not concern a specific company. Portugal approved the environmental impact assessment for a lithium mine. Glencore plans to invest 1.5 billion USD in expanding a copper mine in Peru. World Gold Council: The Czech Republic increased its gold reserves by 1.54 tons to 13.5 tons.

Finance: Index: Most mutual funds made a profit for investors in April. Analysis: The number of Czechs saving has increased by a third over the past year. Bit.plus: The volume of cryptocurrency trades fell by a tenth in May. Donor states pledged 2.4 billion USD to help Africa fight hunger. Biden and McCarthy agree to raise US debt ceiling. Survey: One-fifth of women make independent decisions about household finances and assets. Survey: 12 percent of Czechs have saved ten times their monthly household income. According to Reuters sources, the European Commission will approve the deal between UBS and Credit Suisse. Credit Suisse is to pay almost a billion dollars to the former Georgian prime minister.