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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: Fed chief: Risks are more balanced, June rate decision unclear. According to statistics, the German economy stagnated in the first quarter. Unemployment in the Czech Republic fell further, by a tenth of a point in April to 3.6 percent. The CNB did not change rates, Michl warned of the pro-inflationary effect of the budget. Cross-border payments for online purchases will probably be registered. The general meeting of the Confederation of Industry elected Jan Rafaj as the new president today. Investor confidence in the eurozone economy unexpectedly returned to decline in May. According to analysts, the CNB will probably leave the interest rate at seven percent, they do not expect a reduction. PwC: The market value of the most valuable companies fell the most last year since 2009. The head of the Polish central bank hopes that he will be able to start reducing interest rates this year. CNB: Banks' net profit rose by 32.3 billion to 102.6 billion CZK last year. The state collected 790 billion CZK in taxes into the budget last year, 90 billion more year-on-year. Former CNB vice-governor Tomáš Nidetzký has been leading the National Development Bank since May. Foreign investors hold a record volume of Czech government bonds. Experts disagree on whether the CNB should use interest rates to combat the impact of the deficit. The CNB fined the loan provider Fair Credit Czech three million crowns. Taiwan's economy fell the most in the first quarter since 2009. Fiala agreed with Governor Michl on the need to continue the fight against inflation. AP: Foreign companies are finding it difficult to leave Russia. Foreign investment in Germany is stable, but may be threatened by incentives from the US. Senate wants conflict of interest rules directly in the public procurement law. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, Fiala said. The European Commission has improved its estimate of Czech economic growth, inflation is expected to be significantly higher. The Vysočina region had 285 million more tax revenues in the first quarter than last year. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. Inflation in the US fell to a two-year low of 4.9 percent in April. Media: Central banks and governments coordinated the manipulation of interest rates during the global crisis. Ifo: The wave of price increases in Germany is over, but the decline in inflation will be slow. The Czech National Bank improved its economic outlook, but increased its estimate of full-year inflation. Survey: 95 percent of Czechs are worried about their financial situation due to inflation.

Stock exchanges: Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market. The price of gold has exceeded 2,000 USD per ounce, it is close to a record. Index: Commodity prices have fallen by five percent this year, with natural gas falling the most. Fiala: The draft law on corporate transformations is general, it does not concern a specific company.

Finance: The value of investor Icahn's assets has fallen sharply due to accusations of unfair practices. According to Reuters sources, the European Commission will approve the agreement between UBS and Credit Suisse. PacWest shares lose 26 percent, the bank announced an outflow of deposits. UniCredit Bank in the Czech Republic and Slovakia increased its net profit by 19 percent this year to CZK 2.2 billion. France has issued an international arrest warrant for the long-time head of Lebanon's central bank. BNP Paribas doubled its quarterly profit thanks to the sale of its US division. Donor states have pledged $2.4 billion to help Africa fight hunger. The government should urgently address money laundering, according to a Senate committee. Index: Most mutual funds made money for investors in April. Commerzbank almost doubled its net profit in the quarter thanks to higher interest rates. The third major bank in the US has closed in two months, with authorities closing First Republic.