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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: CZSO: Public finance deficit fell to 3.6 pct of GDP last year, government debt rose. The situation of European banks is stable, EU leaders agree after the summit. Australia is the first in the developed world to pause interest rate increases. Median: Czechs most often protect themselves against inflation by investing in gold. CNB: The Czech Republic's foreign debt fell by 65 billion to 4.454 trillion CZK last year. Former CNB Vice Governor Nidetzký will be the new member of the NRB Board of Directors. The volume of mergers and acquisitions was the lowest in more than a decade in the first quarter. The state budget ended in a record deficit of 166.2 billion CZK in March. Coronavirus and energy crisis have increased interest in Elmarco's Nanospiders. Bloomberg: Onion shortage opens a new chapter in the global food crisis. The Chamber of Commerce represents a strong business self-government, said Dlouhý. The Slovak Central Bank has worsened the GDP growth outlook, expects higher inflation. According to a survey, the growth of business activity in the eurozone unexpectedly accelerated in March. The Swiss Central Bank has raised interest rates, despite the crisis surrounding Credit Suisse. David Havlíček has become the chairman of the board of the state-owned EGAP. The OECD expects a slight recession in the Czech Republic this year, recommends budget consolidation. The World Bank has presented a reform plan, wants to increase the volume of loans. Lagarde: The ECB will take decisive action to push inflation back to two percent.

Stock markets: Gunmen in the Central African Republic killed nine Chinese at a gold mine. An amateur gold miner found a stone containing gold worth 3.5 million CZK in Australia. The price of gold today surpassed the $2,000 mark, its strongest in a year. Milevský heat pump manufacturer Acond is completing a hall for half a billion CZK.

Finance: Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. The range of institutions for which the CNB determines capital equipment will probably expand. The deadline for questioning the sale of Sberbank CZ loans to Česká spořitelna ends. Hartenberg from Babiš's trust funds bought a Tábor textile company, holds 70 percent. Small banks in the US recorded a record drop in deposits after the collapse of SVB. Survey: Nine percent of Czechs will have nothing left after paying their necessary expenses. Bloomberg: US regulator leans towards splitting up bankrupt SVB bank. Schrek expects Vysočina to have money from Sberbank by the end of the year. Investigators in Paris are investigating the circumstances of dividend fraud in banks. First Citizens bank will take over deposits and loans of bankrupt Silicon Valley Bank. The head of Saudi bank SNB resigned after a failed investment in Credit Suisse. Swiss bank UBS will take over rival Credit Suisse for three billion francs. Index: Most mutual funds made money for investors in March. European stocks weakened, investors are concerned about the stability of the financial sector. Richard Podpiera will be the CEO of Patria Finance from May. The banking crisis in the US is not over yet, the head of JPMorgan Chase warned. Chinese real estate company Evergrande plans to restructure debt abroad. Bloomberg: Banks are lifting bans on hiring employees, they want talents from Credit Suisse. Negotiations to save Credit Suisse are dragging on, and nationalization of the bank is also at stake. Hello bank! will gradually end in the Czech Republic, and will no longer provide new products from today. The EU has so far approved the merger of UBS and Credit Suisse, but a formal application is still pending. The head of Credit Suisse apologized to shareholders for the devaluation of their assets.