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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: The inflation rate in Argentina exceeded 100 percent for the first time since the early 1990s. The Czech economy entered recession in the fourth quarter of last year. Survey: 83 percent of Czech households are concerned about inflation. CNB: There are no banks in the Czech Republic with a similar model to those that failed in the US. Agency: Interest in land for photovoltaic construction is increasing by tens of percent. EU countries have agreed on the principles of returning to fiscal rules, but not on the details. The vice-governor of the CNB denied that the central bank's steps would lead to higher inflation. The average wage in the Czech Republic reached 40,353 crowns last year, falling in real terms. Mayors are concerned that the revenue from the increased property tax would go to the state. Companies convicted of insurance fraud will probably not have access to contracts. The Czech Republic was among the EU countries with the highest inflation in February, according to the analysis. EBRD: Forecasts of an early interest rate cut in Central Europe are optimistic. The Vysočina Region has 1.3 billion crowns ready to finance larger projects. The Russian Central Bank will extend restrictions on capital movements. Hampl: High inflation is more reflected in budget expenditures than revenues. Almost half of companies in the Czech Republic invest a fifth of their investments in digitalization. Slovakia is the second largest export market after 30 years, the fifth largest import market. The Chinese Prime Minister said that it will be difficult to achieve GDP growth of around five percent. The CNB Bank Board divided its responsibilities at a meeting after personnel changes. Investor confidence in the eurozone economy fell for the first time in five months in March. A school in Železný Brod acquired a nanofiber machine thanks to a partnership with Elmarco. IMF chief: There are disagreements on the issue of debt restructuring of troubled countries. Inflationary pressures in the Czech economy are only slowly fading, analysts agree.

Stock exchanges: Bloomberg: Tesla is considering taking over metals miner Sigma Lithium. UBS: China could control a third of the lithium market by 2025. The price of gold rose above $1,900 per ounce due to problems in the banking sector.

Finance: The WCA fund is bankrupt, according to a representative of creditors, people have invested 2 billion in it. A Chinese company with the participation of a bankrupt American bank claims that it is operating stably. Credit Suisse shares fell by a quarter, the main investor ruled out further aid. The guarantee system paid out 98 percent of compensation to 87,000 Sberbank clients in the year. European stocks fell sharply due to the collapse of two American banks. Bloomberg: Credit Suisse and those crazy, rich and anxious Asians. Česká spořitelna's net profit rose by 42.2 percent last year to 20.2 billion crowns. Buffett's company Berkshire Hathaway had a record operating profit last year. The number of payment cards in the Czech Republic fell by 77,000 year-on-year to 14.02 million. Allianz insurance company increased its net profit by 1.9 percent last year to 6.7 billion euros. The collapse of two American banks has only a limited impact in the EU, the European Commissioner said. Reuters: Credit Suisse is only buying time thanks to help from the central bank. HSBC bank almost doubled its profit, but published a cautious outlook. Swiss central bank to provide Credit Suisse with liquidity if needed.. Survey: Apartment sales fell by more than half last year. Swiss bank Credit Suisse found serious shortcomings in its statements. Expert: The collapse of the American bank SVB will not affect Czech start-ups to a greater extent. The collapse of two American banks has caused tension in the financial markets. The American banking system is safe, the American president assured.