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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: Analysis: Real wages in the Czech Republic are falling the most among OECD countries, even since the state was founded. The budget had a deficit of 360.4 billion CZK, state debt increased to 2.895 trillion. Industry and construction slowed down in November, foreign trade remains in deficit. Deloitte: The Czech Republic is facing a recession due to the energy crisis, GDP will fall by 1.1 percent. The Australian central bank raised interest rates to a ten-year high of 3.10 percent. EY: American companies dominate the stock market despite losses by technology companies. The Czech Republic enters 2023 with a presidential election, people will not go to the polls again until a year later. The Turkish central bank has cut interest rates to nine percent despite high inflation. ČSOB analysts: Inflation in the Czech Republic will fall to ten percent in 2023. Analysts criticize government for not reforming public finances in first year. Analysts: November decline in construction output does not indicate industry crisis. Further rate hikes in the US could throw stock markets into chaos, investor thinks. Democratic congressmen have released Trump's tax records after years of wrangling. The Swiss Central Bank reported a record loss of 132 billion francs. The Chamber of Commerce has published a yearbook for the Karlovy Vary region, mapping its condition. Business activity in the eurozone fell less than expected in December. The Czech National Bank spent 79 million euros on interventions in October, the least in the intervention period. According to Reuters, Greece has repaid a loan from the eurozone early for the first time. The first coins with the portrait of King Charles III are being put into circulation in Britain. Survey: German businesses expect only a slight recession in the German economy. After two years, the government's agenda was not dominated by Covid, it was determined by the Russian invasion. Atomico: The value of European technology companies fell by 400 billion USD this year. Study: Three times more sole proprietors closed their businesses in November than usual. Creditreform: In Germany, for the first time since 2009, there will be an increase in corporate insolvencies this year. According to the Governor of the Czech National Bank Michl, the Czech Republic expects a year of significant reduction in inflation this year. Analysts: Industry grew the least in November since July, thanks only to car production. The Czech National Bank left the limits for providing mortgages unchanged.

Stock exchanges: EBRD and the Netherlands will provide 372 million euros to the Ukrainian company Ukrenergo. Kovohutě Příbram wants to use photovoltaics and light heating oils. Analyst: Gas and coal have increased in price by tens of percent this year, precious metals have become cheaper. Vietnamese electric car manufacturer VinFast has filed for an IPO in the US. Gas for the European market continues to fall in price, reaching 70 euros per MWh this morning. Bloomberg: Tesla is preparing to conclude a preliminary agreement to build a plant in Indonesia. The price of gold has risen to a six-month high.

Finance: J&T Fund received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. The US authority has extended Sberbank CZ's exemption from sanctions, the sale can continue. Jack Ma will no longer control Chinese fintech giant Ant Group. US regulators have issued a joint warning to banks about the risks of cryptocurrencies. Komerční banka shareholders have approved a dividend of CZK 55.50 per share before tax. ČSOB: Banks provided mortgages worth CZK 163 billion last year, 40 percent of the volume in 2021. American cryptocurrency firm BlockFi filed for bankruptcy protection. Index: The value of all types of mutual funds fell in December. Analyst: Oil and gas prices rose this year, industrial metals generally fell. Cryptocurrency firm Nexo will end its activities in the US. Home Credit sells assets in the Philippines and Indonesia for almost CZK 15 billion.