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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: Winkelmann Group invests 110 million euros in Slovakia, will employ 450 people. CNBC: Growing concerns about the collapse of the European commercial real estate market. Analysts: Confidence in the economy indicates that the Czech Republic has already overcome the recession. The Chamber of Commerce represents a strong business self-government, said Dlouhý. Inflation slowed to 15 percent in March, analysts and the Czech National Bank expect a further decline. According to the IDEA study, purchasing power fell for some benefits, while it increased significantly for others. Inflation in Turkey continues to fall, falling to 50.5 percent in March. The Czech National Bank records an increasing number of payment frauds. The Ministry of Finance sold bonds for 12 billion crowns as planned. HN: Monetary policy analysis expert Dana Hájková is leaving the CNB. The state collected 280.6 billion crowns in taxes in the first quarter. Entrepreneurs expect economic stagnation and high inflation this year. The current director of the Castle Protocol, Vladimír Kruliš, will join the CNB. IMF: The Czech economy will fall by 0.5 percent this year, and grow by 2 percent in 2024. March inflation was slightly above the CNB forecast, food prices rose faster. The World Bank presented a reform plan, wants to increase the volume of loans. The state budget ended in a record deficit of 166.2 billion crowns in March. The OECD expects a slight recession in the Czech Republic this year, recommends budget consolidation. CZSO: The public finance deficit fell to 3.6 percent of GDP last year, government debt rose. The CNB fined ING Bank for violating the law against money laundering. Analysis: The volume of Czech capital in domestic companies is the highest in three years.

Stock exchanges: The Golden Gate retailer's sales increased by 23 percent last year to CZK 6.5 billion. Reuters: Will metal recycling help maintain the net zero emissions target?. Commodity prices fell in the first quarter, the index lost the most since the beginning of 2020. Milada and Radek Bláh created a bouquet with 118 flowers made of pure gold.

Finance: Analysts: The current problems of some banks are different from those during the 2008 crisis. The Ministry of Finance sold government bonds for CZK 21.8 billion, demand was higher. First Citizens Bank will take over deposits and loans from the bankrupt Silicon Valley Bank. Richard Podpiera will be the CEO of Patria Finance from May. Bank of America increased its profit in the quarter thanks to rising interest rates. Schrek expects that Vysočina will have money from Sberbank by the end of the year. Association: Banks are closing bank accounts of companies dealing in cryptocurrencies. Fed approves merger of Swiss banks Credit Suisse and UBS in the United States. The largest Swiss bank, UBS, saw its quarterly profit fall by 52 percent to USD 1 billion. The Swiss parliament did not approve government aid to Credit Suisse. Hello bank! will gradually end in the Czech Republic, and will stop providing new products from today. German authorities have fined Wirecard's auditor half a million euros. The number of vacancies in the financial sector in London has decreased by almost a third. Russia's Sberbank reported a profit of 350.2 billion rubles in the first quarter. Moody's has worsened the outlook for the rating of betting company Allwyn due to higher debt. The White House, after the turmoil in the banking sector, calls for stricter rules for regional banks. American banks JPMorgan, Wells Fargo and Citi have higher profits thanks to higher interest rates. Three-quarters of Czechs regularly invest their money, a survey showed. Index: Most mutual funds made money for investors in March. UBS management is trying to reassure shareholders about the takeover of rival Credit Suisse.