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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 Senate rejected the initiative to constitutionally enshrine the right to pay in cash. Dun & Bradstreet: The number of unreliable VAT payers increased by 13 percent last year. The vice-governor of the Czech National Bank denied that the central bank's steps would lead to higher inflation. An exhibition marking the anniversary of the currency separation opens at the Czech National Bank's visitor center. The Fed, as expected, raised the base interest rate by a quarter of a percentage point. Companies convicted of insurance fraud will probably not have access to contracts. The Czech National Bank improved its economic development estimate, expecting a 0.3 percent decline in GDP this year. IMF chief: There are disagreements on the issue of debt restructuring in troubled countries. German GDP fell by 0.2 percent in the 4th quarter, up 1.8 percent for the whole year. Lawyer Michal and businessman Überall filed constitutional complaints in a tax case. CZK 108 billion was paid out from the IROP program in the ending period, 72 percent of the total amount. Study: The number of bankruptcies of companies and entrepreneurs increased month-on-month in the Czech Republic in January. The number of bankruptcies of pubs and bars in Britain increased by 83 percent last year. Entrepreneurs in Kroměříž and the surrounding area decreased slightly last year, there are over 12,000 of them. The Slovak economy maintained the pace of quarter-on-quarter growth, but the year-on-year growth slowed. Thousands of people have been waiting outside the Czech National Bank since morning to receive a special thousand-crown. Cross-border payments for online purchases will be registered to combat fraud. Partners have promised Africa $30 billion to develop food production. EU countries are arguing about new money to support the economy before the summit. After five years, there are more people out of work than there are vacancies, unemployment is 3.9 percent. Hampl: The Czech economy should return to price stability as soon as possible. 921 personal bankruptcies were declared in the Czech Republic in January, 39 more than in December. People were still standing in queues today for a special thousand-crown note, which sold out in the afternoon. The CNB Bank Board divided its powers at a meeting after personnel changes. USGS: Damage caused by the earthquake in Turkey may amount to up to ten billion dollars.

Stock exchanges: Commodities rose sharply in price after the invasion, many are now cheaper than before the war. EUObserver: A mine in the Arctic part of Sweden threatens the original Sami population. Last year, 9.4 tons of gold were imported into the Czech Republic, the most in the last 11 years. The world's largest gold miner Newmont wants to take over competitor Newcrest. BBC: Botswana sold diamonds for a record $4.5 billion last year. Nine people died after a collapse in a gold mine in Burkina Faso. CNBC: The world is struggling with a copper shortage that may last until 2030. Analysts: Gold rose by 18 percent in three months, in korunas by three percent.

Finance: Mastercard: Retail sales before Christmas rose by 11.4 percent year-on-year. Turkey's current account deficit was the highest in at least a decade last year. US authority extended Sberbank CZ's exemption from sanctions, sales can continue. The former head of the bankrupt Wirecard denied that he was involved in fraud. The number of people with pension savings in the third pillar fell by 40,000 to 4.39 million. The Senate Constitutional Commission does not want the constitutional enshrinement of the right to pay in cash. UniCredit Bank: The profitability of investments in residential real estate fell in February. The number of payment cards in the Czech Republic fell by 77,000 year-on-year to 14.02 million. Austria's Raiffeisen Bank International sharply increased its profit last year. Deutsche Bank increased its pre-tax profit by 68 percent last year to a 15-year high. Credit Suisse bank had its deepest loss since the 2008 crisis. Société Générale's net profit fell by almost two-thirds last year.