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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 BDI industry association expects the German economy to contract by 0.3 percent this year. For the war to end, Russia must lose, Scholz said in Davos. 30 people were indicted in the 438 million ČKD Prague DIZ fraud case. The inflation rate in France surprisingly fell to 5.9 percent in December. Survey: German companies plan to expand activities in Africa next year. Economists from Goldman Sachs have improved the outlook for the eurozone, they no longer expect a recession. The Czech Republic enters 2023 with a presidential election, people will not go to the polls again until a year later. The budget had a deficit of 360.4 billion CZK, the state debt rose to 2.895 trillion. Bloomberg: The decline in property prices in Sweden may deepen the economic crisis. The company of the year 2022 is Biohealing, the sole proprietor is farmer Jan Bošina. The Czech National Bank could raise rates in the event of a large increase in January prices. UniCredit Bank received a fine of CZK 10 million from the Czech National Bank for violating mortgage rules. Study: Three times more sole proprietors closed their businesses in November than usual. According to Reuters, Greece has repaid its loan from the eurozone early for the first time. In Slovakia, the number of personal bankruptcies increased by almost 12 percent last year. The first coins with the portrait of King Charles III are being put into circulation in Britain. The EBRD last year invested a record 13.1 billion euros, part of which goes to Ukraine. Hot tub manufacturers USSPA saw their profit after tax fall to CZK 13 million last year, while sales increased. Analysts: Industry grew the least in November since July, thanks only to car production. The World Economic Forum meeting will have a record attendance this year. According to a CRIF study, the number of bankruptcies of companies and entrepreneurs decreased in the Czech Republic last year. The Ministry of Culture will support cooperation between designers and businesses. Allianz Trade: Global economic growth could accelerate next year. Survey: German companies expect only a slight recession in the German economy. Lagarde: The economic outlook for the eurozone has improved despite high inflation. Markets underestimate the ECB's determination to continue raising rates, a member of the Governing Council warned. The British economy grew surprisingly in November, supported by football. Further rate increases in the US could throw stock markets into chaos, an investor believes.

Stock markets: Swedish LKAB has found the largest known deposit of rare earth metals in Europe. BASF and Eramet plan a nickel and cobalt processing plant in Indonesia. Bloomberg: India is the main driver of the steel industry thanks to construction. Gas for the European market continues to become cheaper, reaching 70 euros per MWh in the morning. Analysts: The gas price cap may worsen the energy crisis. NWT's creditors have filed claims for almost 1.682 billion crowns.

Finance: The financial services sector in Britain is facing the biggest changes in more than 30 years. JPMorgan and Bank of America increased profits, but Citigroup's profit fell. The US authority extended Sberbank CZ's exemption from sanctions, the sale can continue. The quarterly profit of Goldman Sachs and Morgan Stanley banks fell significantly. J&T fund received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. Audit firm Mazars suspended cooperation with clients from the crypto world. Bloomberg: Goldman Sachs intends to lay off around 3,200 employees. Index: All types of mutual funds fell in value in December. Hartenberg from Babiš's trust funds multiplied net profit to CZK 130 million. Jack Ma will no longer control Chinese fintech giant Ant Group. Aircraft leasing companies assess risks in China and Taiwan.