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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: ČNB worsens estimate of Czech economy development, expects inflation at 15.8 percent. A machine shop from Śląskie has become the company of the year in South Moravia, a blacksmith is the sole proprietor. Economists: The budget deficit will be significantly over 300 billion CZK next year. Analysts: This year's foreign trade deficit could exceed 200 billion CZK. Holub: The ČNB should raise interest rates at least once more due to inflation. The Norwegian central bank has raised the base interest rate again, the highest since 2009. Study: In October, the number of corporate bankruptcies fell, while business bankruptcies rose. The Polish central bank surprisingly left the base interest rate at 6.75 percent. Three Americans have won the Nobel Prize in Economics for their research on banks and financial crises. Fiala: The combination of nuclear and renewable energy is the only truly safe scenario for the Czech Republic. Eurozone inflation hit a record high again in October, rising to 10.7 percent. Survey: One in four Europeans say their financial situation is uncertain. Prime Minister: The EC will not allow unilateral favoritism for German industry. Unions consider the new tax an open attack on mining and energy companies. German economic experts expect a milder recession next year than the government. 53 corporate bankruptcies were declared in the Czech Republic in September, the third lowest number this year. The European Commission has approved Czech government aid to companies hit by rising energy prices. Coface: Global economic growth is expected to fall below two percent next year. The Washington Post: Labor productivity in the US has fallen and no one knows exactly why. Analyst: CNB supported the koruna exchange rate by CZK 59 billion in August, less than in July. IMF again worsened the outlook for global economic growth for next year. According to Vestager, the importance of antitrust authorities is growing in the crisis. Analysts: The situation on the labor market is deteriorating, unemployment will slowly increase. Construction is declining, trade remains in deficit, industry is growing only thanks to a weak last year. Nomura: Czech Republic, Hungary and Romania face the risk of a currency crisis. The Chinese economy has returned to growth, but concerns are raised by further government steps. MF proposes a 60 pct tax on extraordinary profits for banks, refineries and miners. The Pilsen Region company is nanoSPACE from Domažlice, and the self-employed person is woodcarver Karel Tittl. Experts do not have much faith in the estimated yield of the tax on extraordinary profits. Analysts have doubts whether the so-called windfall tax will yield the expected 85 billion CZK. Inflation rose to 18 percent in September, and according to the Czech National Bank and analysts, it is approaching its peak. Síkela: There is enough money for the transformation of the energy sector, countries must focus on projects.

Stock exchanges: Germany has called for a suspension of the development of deep-sea mining due to environmental concerns. France wants to open one of the largest lithium mines in Europe by 2027. The price of gas for the European market has fallen below 100 euros per MWh for the first time since June.

Finance: HN: The renamed company Fair Credit has filed for insolvency. A member of parliament and supporters came to a Beirut bank to withdraw frozen money. Buffett's company Berkshire increased its stakes in five Japanese trading companies. MF: MEPs approve final version of cryptocurrency regulation. Lebanese woman fined and banned from traveling for bank robbery. Study: Global banking revenues to grow by more than six percent annually. Česká spořitelna and Komerční banka report significant profit growth in three quarters. Sberbank administrator to negotiate loan sales exclusively with Česká spořitelna. MF: MEPs approve final version of cryptocurrency regulation. Survey: Czechs keep less and less cash at home.