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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: IMF mission: Czech economy to shrink by around half a percent next year. Analysts predict eurozone economy will shrink next year, partly due to inflation. Analysts: Czech economy is in imbalance, but currency crisis is not imminent. Study: Czech companies invest CZK 61 billion in digitalization over three years. Swiss central bank reports record loss of CHF 132 billion. German industry returns to growth in November, but some companies face recession. US manufacturing activity falls for first time in two and a half years. Sokolovská uhelná considers windfall tax unfair. Democratic congressmen release Trump's tax records after years of wrangling. New Zealand central bank raises key interest rate, warns of recession. Further rate hikes in the US could throw stock markets into chaos, investor thinks. Central Bank: French economy to weaken sharply next year. Inflation rate in France surprisingly dropped to 5.9 percent in December. According to CNB Governor Michl, the Czech Republic is set to experience a year of significant inflation reduction this year. The first coins with the portrait of King Charles III are being put into circulation in Britain. EY: American companies dominate the stock market despite losses by technology companies. According to the CRIF study, the number of bankruptcies of companies and entrepreneurs in the Czech Republic fell last year. OECD: The global slowdown will hit Europe hardest next year. Creditreform: In Germany, corporate insolvencies will increase for the first time since 2009. The budget deficit was CZK 360.4 billion, and the national debt rose to CZK 2.895 trillion. Bloomberg: The decline in property prices in Sweden may deepen the economic crisis. Survey: German companies plan to expand activities in Africa next year. The Turkish central bank has cut interest rates to nine percent despite high inflation. The Slovak government has proposed a special tax on excess income of electricity producers. USSPA hot tub manufacturers saw their profit after tax fall to CZK 13 million last year, sales rose. Confidence in the economy increased slightly in November, entrepreneurs remain pessimistic Special instructions: In paragraphs 1, 4 and 5, we have added analysts' opinions, in paragraphs 6 to 9, additional information from the survey. The Australian central bank has raised interest rates to a ten-year high of 3.10 percent. Survey: German companies expect only a slight recession in the German economy.

Stock exchanges: Kovohutě Příbram has built a pilot line for recycling lithium batteries. Gas continues to fall in price for the European market, reaching 70 euros per MWh in the morning. 2023 will be a difficult year for investments, analysts recommend bonds or gold. Bloomberg: India is the main driver of the steel industry thanks to construction. Vietnamese electric car manufacturer VinFast has applied for a US stock exchange listing. Kovohutě Příbram wants to use photovoltaics and light heating oils.

Finance: Servers: Xixoio management faces suspicion of fraud, damage is half a billion crowns. Banks: The share of problematic bank loans to households has further decreased. American cryptocurrency company BlockFi has filed for bankruptcy protection. ČSOB: Banks provided mortgages worth 163 billion CZK last year, 40 percent of the volume in 2021. Bloomberg: Goldman Sachs intends to lay off around 3,200 employees. Home Credit sells assets in the Philippines and Indonesia for almost CZK 15 billion. US regulators issue joint warning to banks about cryptocurrency risks. Crypto lending firm Nexo to end US operations. McLaren sells part of its vintage car collection to raise money for new supercar Arturo. New York state charges founder of crypto lending firm Celsius with fraud. Audit firm Mazars suspends work with crypto clients.