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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: The economic performance in the quarter was slightly weaker than expected by the Czech National Bank. According to scientists, artificial intelligence and virtual reality are the future of production. CZSO: Traditional culture in the Czech Republic lost more than 3.7 billion crowns during Covid. The number of dollar millionaires in the Czech Republic increased last year, their assets decreased, Capgemini said. Jurečka: Ministries are preparing to accelerate the acceptance of forces from abroad, the solution will be this year. The Reserve Administration may only be able to reserve part of the stocks from traders. At a conference in Ostrava, entrepreneurs will look for a way out of the economic crisis. Fed chief: Risks are more balanced, the June decision on rates is unclear. Entrepreneurs elected Zdeněk Zajíček as president of the Chamber of Commerce of the Czech Republic at the parliament. Media: Central banks and governments coordinated the manipulation of interest rates during the global crisis. Kooperativa Insurance Company paid the most in corporate income tax last year. Media: The head of the French luxury goods company LVMH is preparing to go to China. Conditions in the manufacturing industry worsened in May, for the twelfth time in a row. CNB: Czech households' debts to banks rose to 2.19 trillion crowns in April. MFA: The reduction in money for salaries in the state sector cannot be applied generally. ČSOB Index: The mood of companies in the Czech Republic has improved, it is almost the same as before the pandemic. The IMF has slightly improved its estimate of this year's growth in the US economy. Comments on the austerity package concern the distribution of taxes and the annuity of ex-presidents. Kofola is shocked by the proposal to increase VAT to 21 percent, said the director. Survey: 95 percent of Czechs are afraid of their financial situation due to inflation. Fiala agreed with Governor Michl on the need to continue the fight against inflation. The US House of Representatives approved a law that suspends the debt ceiling. Supporters of rate increases in the Czech National Bank argued that the economy is cooling down a little. 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. Investors are moving to bonds, experts say they are attracted by high yields. The economy will grow by 0.3 percent this year, and will accelerate next year, a survey by the Ministry of Finance showed. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. Michl: Year-on-year inflation should fall below ten percent within three months. Fiala: The government will soon approve an anti-bureaucratic package for entrepreneurs. The Czech National Bank fined the loan provider Fair Credit Czech three million crowns. Fiala: The government is now making a bigger contribution than the previous two.

Stock markets: Portugal has approved an environmental impact assessment for a lithium mine. 12 people died in a gold mine in Venezuela, it has been officially closed for a long time. Newmont is close to an agreement to take over competitor Newcrest for AUD 29.4 billion. Analysts: Possible sanctions on Russian diamonds would disrupt the global jewelry market.

Finance: CNB Governor Michl today presented an award for the contribution to financial literacy for the first time. Komerční banka's profit increased by 1.4 percent year-on-year in the first quarter to CZK 3.6 billion. Three million users have used the banking identity in 2.5 years of operation. The CNB is eliminating one of the rules for providing mortgages from July. Survey: The average Czech saves more than the rest of Europe and has less debt. Donor countries have pledged $2.4 billion to help Africa fight hunger. Survey: One fifth of women make independent decisions about household finances and property. Survey: 12 percent of Czechs have saved ten times their monthly household income. Index: Most mutual funds made a profit for investors in April.