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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: IMF: Czech economy to shrink by 0.5 percent this year, grow by 2 percent in 2024. The volume of mergers and acquisitions was the lowest in more than a decade in the first quarter. The Syrian president has replaced several ministers, prices are rising sharply in the country. Former finance ministers: The approved state budget deficit is unrealistic, it will be higher. According to the IDEA study, purchasing power has decreased for some benefits, while it has increased significantly for others. The IMF has worsened this year's estimate of global economic growth to 2.8 percent. The Ministry of Finance sold bonds for 12 billion crowns as planned. Nervousness in the Czech financial sector was unnecessary, says CNB Vice Governor Frait. Explosia Pardubice achieved a record pre-tax profit of 198 million CZK last year. The state collected 280.6 billion crowns in taxes in the first quarter. Analysts: Confidence in the economy indicates that the Czech Republic has already overcome the recession. The state budget ended in March with a record deficit of 166.2 billion crowns. The current director of the castle protocol, Vladimír Kruliš, will join the Czech National Bank. HN: Monetary policy analysis expert Dana Hájková is leaving the Czech National Bank. The trend of gradual departure from the US dollar continues to strengthen in the world. The Czech National Bank reported a record loss of 411.9 billion crowns last year. Analysts: The Czech National Bank will not raise rates again, it will not start reducing them until August at the earliest. The OECD expects a slight recession in the Czech Republic this year, recommends budget consolidation. The Czech Republic will express interest in a loan of at least 68 billion crowns from the EC, the government has yet to decide on the amount. The Czech National Bank has fined ING Bank for violating the law against money laundering.

Stock exchanges: Mangan Chvaletice company begins testing verification unit for manganese production. Reuters: Will metal recycling help maintain net zero emissions target?. Commodity prices fell in Q1, index loses most since early 2020. Milada and Radek Bláh created a bouquet with 118 flowers made of pure gold. Milevský heat pump manufacturer Acond completes hall for half a billion CZK.

Finance: Index: Most mutual funds made money for investors in March. EU has so far approved the merger of UBS with Credit Suisse, still waiting for a formal application. Schrek expects Vysočina to have money from Sberbank by the end of the year. UBS management is trying to reassure shareholders about the takeover of rival Credit Suisse. The Fed approved the merger of Swiss banks Credit Suisse and UBS in the United States. Analysts: Current problems of some banks are different from those during the 2008 crisis. The administrator of Sberbank CZ sold all of the bank's corporate bonds for 718 million CZK. Stuchlík's company will increase its stake in the Quant fund, which will no longer be connected to Michl. Fraudsters are luring with fake investments and competitions in the name of Škoda Auto. Komerční banka has a photovoltaic power plant on the roof of its Prague headquarters. The CFIG financial group's net profit rose by 29 percent last year to 76 million CZK. Former British finance minister Nigel Lawson has died at the age of 91. The head of the Saudi SNB bank resigned after a failed investment in Credit Suisse. Russia's Sberbank reported a profit of 350.2 billion rubles in the first quarter. Credit Suisse saw a large outflow of assets in the first quarter. German authorities imposed a fine of half a million euros on the auditor of Wirecard. The range of institutions for which the CNB sets capital requirements is likely to expand. Three-quarters of Czechs regularly invest their money, a survey has shown. Investigators in Paris are investigating the circumstances of dividend fraud in banks. Association: Banks are closing bank accounts of companies that deal with cryptocurrencies.