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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: World Bank President: Help with energy bills for everyone is too expensive. Nomura: Czech Republic, Hungary and Romania face the risk of a currency crisis. The Czech National Bank, as expected, left the base rate at seven percent. Unemployment in Slovakia fell to a more than two-year low of 5.90 percent. The Chinese economy has returned to growth, but further government steps are causing concern. Analysts: The Czech economy is in imbalance, but there is no threat of a currency crisis. Study: The number of corporate bankruptcies fell in October, while business bankruptcies rose. Prime Minister: The EC will not allow unilateral favoritism for German industry. German economic experts expect a milder recession next year than the government. The Czech National Bank left the limits for providing mortgages unchanged. Analysis: Real wages in the Czech Republic are falling the most among OECD countries and since the establishment of the state. Analysts have doubts whether the so-called windfall tax will yield the expected 85 billion CZK. Shell does not pay the windfall tax in Britain yet, it will legally avoid it. Lasselsberger will sell 27 million m2 of ceramic tiles this year, i.e. less than last year. Coface: Global economic growth should fall below two percent next year. IMF mission: The Czech economy will fall by about half a percent next year. The Washington Post: Labor productivity in the US has fallen and no one knows exactly why. The European Commission has approved Czech government aid to companies affected by rising energy prices. Unemployment in the Czech Republic remained at 3.5 percent in October, and is likely to rise in the coming months. Activity in the US manufacturing sector fell for the first time in two and a half years. China's economy accelerated its growth rate to 3.9 percent in the third quarter. Analysts: This year's foreign trade deficit could exceed CZK 200 billion. Agricultural Union: The crisis needs to be addressed even at the cost of high deficits. Sokolovská uhelná considers the tax on extraordinary profits unfair. KFC and McDonald's in the Czech Republic increased their prices this year, with a cheeseburger increasing in price by a fifth. Despite high inflation, the Turkish central bank has cut interest rates to nine percent. The government has approved an increase in funding for film incentives to CZK 1.4 billion. World Bank President: Help with energy bills for everyone is too expensive. According to Schillerová, the actual deficit of Stanjur's budget is CZK 470 billion. Michl: The basic interest rate is already at a level that dampens economic activity. Confidence in the Czech economy has fallen below 90 points for the first time since last March.

Stock markets: Analyst: Gas and coal prices have risen by tens of percent this year, while precious metals have fallen. EBRD and the Netherlands will provide 372 million euros to the Ukrainian company Ukrenergo. Germany has called for a suspension of the development of deep-sea mining due to environmental concerns. Russian aluminum producer Rusal has added business contracts for next year.

Finance: American cryptocurrency company BlockFi has filed for bankruptcy protection. Société Générale's quarterly profit fell, but exceeded expectations. Cryptocurrency company Nexo will end its activities in the US. Survey: Czechs are keeping less and less cash at home. Study: Global banking revenues will grow by more than six percent annually. Banks: The share of problematic bank loans in the Czech Republic stopped falling in September. Home Credit sells assets in the Philippines and Indonesia for almost 15 billion CZK. Hungary is approaching billions from the EU budget, according to the minister, it has complied with Brussels. Sberbank administrator signed a contract to sell loans, ČS offered 41.1 billion CZK. Buffett's company Berkshire bought a stake in Taiwanese chip manufacturer TSMC.