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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: ČSOB Index: The mood of companies in the Czech Republic has improved, it is almost the same as before the pandemic. The Senate wants rules on conflict of interest directly in the Public Procurement Act. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. The Confederation of Employers criticizes the adjustments to work by agreement or benefits. The Association of Local Governments does not agree with the change in the distribution of tax revenues. The limit for small-scale contracts will not be increased, the Chamber of Deputies outvoted the Senate. Kofola is shocked by the proposal to increase VAT to 21 percent, the director said. Presidential advisor: The Senate's involvement in the appointment of the CNB board is being debated at the Castle. Foreign investment in Germany is stable, but may be threatened by incentives from the US. The IMF slightly improved its estimate of this year's growth in the US economy. One of the biggest fraudsters in Germany has received another sentence of more than eight years. The government package will increase the costs of Moravian-Silesian companies by up to hundreds of millions of CZK. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. The general meeting of the Confederation of Industry today elected Jan Rafaj as the new president. Negotiations to avert US insolvency are stalled, the continuation is uncertain. The budget deficit deepened in May to a record 271.4 billion CZK. Supporters of the CNB rate hike argued that the economy was cooling down slightly. The British central bank raised the base interest rate by a quarter of a point to 4.50 percent. Investors are moving to bonds, experts say they are attracted by high yields. CZSO: Traditional culture in the Czech Republic lost more than 3.7 billion CZK during Covid. Inflation in the US fell to a two-year low of 4.9 percent in April. The economy's performance in the quarter was slightly weaker than the CNB expected. Jurečka: Ministries are preparing to accelerate the acceptance of forces from abroad, the solution will be this year. Media: The manipulation of interest rates during the global crisis was coordinated by central banks and governments. Fiala agreed with Governor Michl on the need to continue the fight against inflation. The compromise proposal on the US debt ceiling awaits its first test in Congress. The most influential woman in the Czech Republic is Kellnerová, the third is newly Pekarová Adamová. According to scientists, the future of production is artificial intelligence and virtual reality. Prime Minister Fiala will meet with CNB Governor Michl and members of the Bank Board today. The number of dollar millionaires in the Czech Republic increased last year, their assets decreased, Capgemini said. B&B Profit in the Czech Republic offers the opportunity to invest without a permit, the CNB said. Michl: Year-on-year inflation should fall below ten percent within three months. According to analysts, the Turkish economy is doing better than expected, the lira continues to fall.

Stock exchanges: World Gold Council: The Czech Republic increased its gold reserves by 1.54 tons to 13.5 tons. Glencore plans to invest 1.5 billion USD in expanding a copper mine in Peru. Fiala: The draft law on corporate transformations is general, it does not concern a specific company. Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market.

Finance: Survey: The average Czech saves more than the rest of Europe and has less debt. Index: Most mutual funds made money for investors in April. France issued an international arrest warrant for the long-time head of the central bank of Lebanon. Credit Suisse is to pay almost a billion dollars to the former prime minister of Georgia. Biden and McCarthy agree to raise US debt ceiling. ČSOB survey: Most companies are satisfied with the current exchange rate of the crown against the euro. Analysis: The number of Czechs saving has increased by a third in the last year. Komerční banka's profit in the first quarter increased by 1.4 percent year-on-year to CZK 3.6 billion.