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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: Business activity in the eurozone fell less than expected in December. EBRD invested a record 13.1 billion euros last year, part of which went to Ukraine. Central bank: French economy will weaken sharply next year. The Czech Republic enters 2023 with a presidential election, people will go to the polls again in a year. Creditreform: In Germany, this year, there will be an increase in corporate insolvencies for the first time since 2009. India's central bank raised the base interest rate to 6.25 percent, worsened the outlook. Taiwan's economy shrank the most in 13 years in the quarter due to weak exports. Study: The number of corporate and business bankruptcies rose in November. Allianz: Cyberattacks and disruptions remain the biggest risks for companies. PwC: 73 percent of CEOs expect a global economic downturn this year. Economists from Goldman Sachs have improved their outlook for the eurozone, no longer expecting a recession. USSPA hot tub manufacturers saw their after-tax profit fall to CZK 13 million last year, while sales rose. Analysts predict that the eurozone economy will contract next year, partly due to inflation. UniCredit Bank was fined CZK 10 million by the Czech National Bank for violating mortgage rules. Another rise in interest rates in the US could throw stock markets into chaos, investor believes. Atomico: The value of European technology companies fell by USD 400 billion this year. The budget had a deficit of CZK 360.4 billion, and national debt rose to CZK 2.895 trillion. The Japanese central bank did not change its monetary policy despite pressure. The World Economic Forum meeting will have a record attendance this year. Allianz Trade: Global economic growth could accelerate next year. Argentina's inflation rate has exceeded 94 percent, the fifth highest in the world. According to Reuters, Greece has repaid a loan installment from the eurozone early for the first time. The Senate committee did not support breaking banking secrecy due to the OLAF investigation. Domestic start-ups attracted investments worth tens of billions of CZK last year. According to CNB Governor Michl, the Czech Republic is expecting a year of significant inflation reduction this year. After two years, the government's agenda was not dominated by Covid, but by the Russian invasion. The BDI industry association expects the German economy to decline by 0.3 percent this year. Survey: German companies expect only a slight recession in the German economy.

Stock exchanges: Traders: Czechs are selling their savings in precious metals more often. Gold price hits six-month high. Vietnamese electric car maker VinFast files for US stock market listing. Kovohutě Příbram builds pilot lithium battery recycling line. Sweden's LKAB finds largest known rare earth metal deposit in Europe. Bloomberg: India is the main driver of the steel industry thanks to construction. Analysts: Gas price cap could worsen energy crisis.

Finance: New York State charges founder of crypto-loan firm Celsius with fraud. Banks: Share of problematic bank loans to households falls further. Index: All types of mutual funds fell in value in December. ČSOB: Banks provided mortgages worth CZK 163 billion last year, 40 percent of the volume in 2021. Jack Ma will no longer control Chinese fintech giant Ant Group. US regulators issue joint warning to banks about cryptocurrency risks. US agency extends Sberbank CZ sanctions exemption, sales can continue. Goldman Sachs and Morgan Stanley report significant quarterly profit decline. Britain's financial services sector faces biggest changes in more than 30 years. J&T fund receives CNB approval to acquire 19.99 percent stake in Moneta Money Bank.