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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: German economic experts expect a milder recession next year than the government. World Bank President: Help with energy bills for everyone is too expensive. Prime Minister: The EC will not allow unilateral favoritism for German industry. According to the central bank, the German economy is apparently on the verge of recession. World Bank President: Help with energy bills for everyone is too expensive. Unemployment in the Czech Republic remained at 3.5 percent in October, and will probably grow in the coming months. Study: The number of corporate bankruptcies fell in October, while business bankruptcies rose. Survey: One in four Europeans say their financial situation is uncertain. According to analysts, the Czech economy is entering a recession. Grocers have called on the government to solve the energy crisis. The Chinese economy has returned to growth, but concerns are being raised about the government's next steps. Construction is declining, trade is still in deficit, industry is growing only thanks to a weak last year. The Czech National Bank has worsened its estimate of the development of the Czech economy, predicting inflation at 15.8 percent. The government has approved an increase in funding for film incentives to 1.4 billion crowns. The Confederation of German Industry has called for a postponement of global corporate taxation by a year. The Norwegian central bank has again increased the base interest rate, which is the highest since 2009. The Polish central bank has left the base interest rate at 6.75 percent. Pirates will not propose a tax on unexpected profits for this year. Economists: The Eurozone is facing a significant economic recession, recovery will be slow. IMF mission: The Czech economy will fall by about half a percent next year. The Chamber of Deputies has approved the parameters of the budget for next year with a deficit of 295 billion CZK. Unions consider the new tax an open attack on mining and energy companies. Economists: The budget deficit will be significantly over 300 billion CZK next year. Unemployment in Slovakia has fallen to a more than two-year low of 5.90 percent. The New Zealand central bank has raised the base interest rate, warning of a recession. Michl: The base interest rate is already at a level that dampens economic activity. The Chinese economy accelerated its growth rate to 3.9 percent in the third quarter. The IMF has worsened its estimate of the growth of the Czech economy for this year to 1.9 percent. According to Schillerová, the actual deficit of Stanjur's budget is 470 billion CZK. Sokolovská uhelná considers the tax on extraordinary profits unfair. The inflation rate in the US surprisingly fell to 7.7 percent in October.

Stock exchanges: Germany has called for a halt to the development of deep-sea mining due to environmental concerns. Kovohutě Příbram wants to use photovoltaics and light fuel oils. Russian aluminum producer Rusal has added business contracts for next year. EBRD and the Netherlands will provide 372 million euros to Ukrainian company Ukrenergo.

Finance: Home Credit sells assets in the Philippines and Indonesia for almost 15 billion CZK. Credit Suisse bank plunges into loss, will increase capital by four billion CHF. Banks: The share of problematic bank loans in the Czech Republic stopped falling in September. Study: Global banking revenues will grow by more than six percent annually. 136,000 people have joined supplementary pension savings this year, to 1.6 million. The British government will cancel almost all planned tax cuts that have worried the markets. Sberbank administrator will negotiate the sale of loans exclusively with Česká spořitelna. The number of payment cards issued in the Czech Republic increased by 400,000 year-on-year to 13.65 million. Komerční banka shareholders approved a dividend of CZK 55.50 per share before taxes. Survey: Czechs keep less and less cash at home.