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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: ČNB: Czech Republic's foreign debt fell by 65 billion to 4.454 trillion CZK last year. The state budget ended in a record deficit of 166.2 billion CZK in March. Nervousness in the Czech financial sector was unnecessary, says CNB Vice Governor Frait. Bloomberg: Onion shortage opens a new chapter in the global food crisis. The Swiss Central Bank raised interest rates, despite the crisis surrounding Credit Suisse. Inflation in Turkey continues to fall, falling to 50.5 percent in March. Lagarde: ECB will take decisive action to push inflation back to two percent. Australia is the first in the developed world to pause interest rate increases. CZSO: Public finance deficit fell to 3.6 percent of GDP last year, government debt rose. IMF: Czech economy will shrink by 0.5 percent this year, grow by 2 percent in 2024. David Havlíček became the chairman of the board of directors of the state-owned EGAP. The Chamber of Commerce represents a strong business self-government, said Dlouhý. Fitch downgraded Argentina's dollar debt rating above insolvency. According to a survey, the growth of business activity in the eurozone unexpectedly accelerated in March. The Czech National Bank reported a record loss of 411.9 billion crowns last year. Explosia Pardubice achieved a record pre-tax profit of 198 million CZK last year. March inflation was slightly above the Czech National Bank's forecast, food prices rose faster. The richest Czechs expect only a gradual decline in inflation this year. The Czech National Bank fined Fio banka one million crowns for reporting errors. The Czech National Bank records an increasing number of payment frauds.

Stock Exchanges: Mileva heat pump manufacturer Acond completes hall for half a billion CZK. The price of gold exceeded the 2,000 USD mark today, the strongest in the last year. The Mangan Chvaletice company begins testing a verification unit for manganese production. Argentina's mining exports rose last year to the highest level in ten years thanks to lithium.

Finance: Chinese real estate company Evergrande plans to restructure debt abroad. German authorities have fined Wirecard's auditor half a million euros. The Swiss parliament has not approved government aid to Credit Suisse. Česká spořitelna has completed the purchase of Sberbank CZ loans, paying 41.05 billion CZK. The White House, after the turmoil in the banking sector, is calling for stricter rules for regional banks. Three-quarters of Czechs regularly invest their money, a survey has shown. European bank shares fall sharply, markets not reassured by Credit Suisse takeover. Paris investigators investigate dividend fraud in banks. Hindenburg: Payment firm Block, now headed by ex-Twitter boss, facilitated fraud. Credit Suisse boss apologises to shareholders for devaluation of their assets. Russia's Sberbank reports first-quarter profit of 350.2 billion rubles. Fed approves merger of Swiss banks Credit Suisse and UBS in the United States. Bloomberg: Banks lift bans on hiring, want talent from Credit Suisse. European shares fall, investors worried about financial sector stability. Fraudsters lure with fake investments and competitions in the name of Skoda Auto. UBS management tries to reassure shareholders about takeover of rival Credit Suisse. Former director Ermotti to return to UBS due to takeover of Credit Suisse. Hartenberg from Babiš's trust funds bought a Tábor textile company, holds 70 pct. Index: Most mutual funds made money for investors in March. First Citizens Bank will take over deposits and loans from the bankrupt Silicon Valley Bank. Analysts: The current problems of some banks are different from those during the 2008 crisis.