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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 records increasing number of payment frauds. The state budget ended in a record deficit of 166.2 billion crowns in March. CNB: The Czech Republic's foreign debt fell by 65 billion to 4.454 trillion crowns last year. The CNB reported a record loss of 411.9 billion crowns last year. The richest Czechs expect only a gradual decline in inflation this year. CZSO: The public finance deficit fell to 3.6 percent of GDP last year, government debt rose. David Havlíček became the chairman of the board of directors of the state-owned EGAP. Analysts: The CNB will not raise rates again, it will reduce them in August at the earliest. Coronavirus and energy crisis have increased interest in Elmarco's Nanospiders. The Czech National Bank has fined Fio Bank one million crowns for reporting errors. As expected, the Fed has increased the base interest rate by a quarter of a percentage point. The Chamber of Commerce represents a strong business self-government, said Dlouhý. The Czech Republic will show interest in a loan of at least CZK 68 billion from the EC, the government has yet to decide on the amount. Despite turbulent markets, the ECB has increased the base rates by half a percentage point. Former Czech National Bank Vice Governor Nidetzký will be the new member of the NRB Board of Directors. The Swiss Central Bank has increased interest rates, despite the crisis surrounding Credit Suisse. The state collected CZK 280.6 billion in taxes in the first quarter. According to a survey, the growth of business activity in the eurozone unexpectedly accelerated in March.

Stock markets: The Milevský-based heat pump manufacturer Acond is completing a hall for half a billion CZK. An amateur gold miner found a stone containing gold in Australia for CZK 3.5 million. The price of gold exceeded the $2,000 mark today, its strongest in a year.

Finance: The head of the Saudi SNB bank resigned after a failed investment in Credit Suisse. Chinese real estate company Evergrande plans to restructure debt abroad. Bloomberg: The US regulator is leaning towards breaking up the bankrupt SVB bank. Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. Three-quarters of Czechs regularly invest their money, a survey showed. Small banks in the US have seen a record drop in deposits after the SVB collapse. The deadline to challenge the sale of Sberbank CZ loans to Česká spořitelna is ending. Hartenberg from Babiš's trust funds bought a Tábor textile company, holds a 70 percent stake. The range of institutions for which the CNB determines capital equipment will probably expand. The EU has so far approved the merger of UBS and Credit Suisse, but is still waiting for a formal application. Moody's: European banking systems remain in good shape. Česká spořitelna has completed the purchase of Sberbank CZ loans, paying CZK 41.05 billion. European bank shares are weakening sharply, the markets were not reassured by the takeover of Credit Suisse. Hello bank! will gradually end in the Czech Republic, and will stop providing new products from today. Bloomberg: Banks are lifting bans on hiring employees, they want talent from Credit Suisse. The head of the Man Group fund believes that other banks, especially small ones, will go bankrupt within two years. First Citizens Bank will take over deposits and loans from the bankrupt Silicon Valley Bank. The parent company of the bankrupt American bank SVB has declared bankruptcy. Schrek expects that Vysočina will have money from Sberbank by the end of the year. Media: UBS will probably buy rival Credit Suisse for more than two billion USD. Bloomberg: UBS seeks government support in case of Credit Suisse takeover. Flagstar Bank to take over deposits and loans from bankrupt Signature Bank. Credit Suisse rescue talks drag on, nationalization of the bank at stake. Hindenburg: Payments firm Block, now led by ex-Twitter boss, enabled fraud.