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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: Former finance ministers: Approved state budget deficit is unrealistic, will be higher. The Czech Republic will show interest in a loan of at least 68 billion CZK from the EC, the government will still decide on the amount. The Winkelmann Group will invest 110 million euros in Slovakia, will employ 450 people. The Ministry of Finance sold bonds for 12 billion CZK as planned. Entrepreneurs expect economic stagnation and high inflation this year. Inflation in Turkey continues to fall, falling to 50.5 percent in March. Foreign investors hold a record volume of Czech government bonds. Putin's new decree allows Moscow to take control of foreign assets in Russia. According to statistics, the German economy stagnated in the first quarter. Australia was the first in the developed world to pause interest rate increases. The IMF has worsened this year's estimate of global economic growth to 2.8 percent. The Vysočina region had 285 million higher tax revenues in the first quarter than last year. The police have accused 17 people of evading VAT with a loss of 30 million crowns. The Czech National Bank is recording a growing number of payment frauds. According to the IDEA study, purchasing power has decreased for some benefits, while it has increased significantly for others. The volume of mergers and acquisitions was the lowest in more than a decade in the first quarter. The state collected 280.6 billion crowns in taxes in the first quarter. IMF: The Czech economy will fall by 0.5 percent this year, and grow by 2 percent in 2024. The new members of the Czech National Bank's bank board were in favor of rate stability in March. CNBC: Concerns are growing about the collapse of the European commercial real estate market. Czech state debt increased to a record 2.997 trillion crowns in the first quarter. Czech Republic interested in Uzbek uranium and copper, said Prime Minister Fiala in Tashkent. World Bank presents reform plan, wants to increase loan volume.

Stock exchanges: Gold price exceeds $2,000 per ounce, highest since March 2022. Index: Commodity prices fell by five percent this year, natural gas fell the most. Reuters: Will metal recycling help maintain net zero emissions target?. Mangan Chvaletice company begins testing manganese production verification unit.

Finance: Česká spořitelna completed purchase of Sberbank CZ loans, paid CZK 41.05 billion. Three-quarters of Czechs regularly invest their money, survey shows. UBS management tries to reassure shareholders about takeover of rival Credit Suisse. Analysis: The average yield on corporate bonds in the Czech Republic rose to 8.28 percent in March. Russia's Sberbank reported a profit of 350.2 billion rubles in the first quarter. SAS Institute: Banks have been using artificial intelligence platforms for over a decade. Charles Schwab shares experienced the worst monthly decline since 1987. The government approved a tightening of the law against money laundering. Stuchlík's company will increase its stake in the Quant fund, which will no longer be connected to Michl. Former British finance minister Nigel Lawson has died at the age of 91. Moody's has worsened the outlook for the rating of betting company Allwyn due to higher debt. The largest Swiss bank UBS's quarterly profit fell by 52 percent to USD 1 billion. Bank of America increased its profit in the quarter, while Goldman Sachs earned less. The Ministry of Finance sold government bonds for 21.8 billion crowns, demand was higher. Bank of America increased its profit in the quarter thanks to rising interest rates. Erste, the owner of Česká spořitelna, increased its profit by 32 percent in the first quarter. Vacancies in the financial sector in London decreased by almost a third. Index: Most mutual funds made a profit for investors in March.