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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: Banks' net profit rose by 23.6 billion to 54.6 billion CZK in the first half of the year. Central bank chief: German inflation may rise to 10 percent, recession looms. Stanjura: Fiscal discipline cannot be neglected despite the pandemic and the effects of war. FT: European office market faces biggest test since financial crisis. Czech Republic is the fastest-indebted country in the EU, warns SAO. Slovakia's strongest government movement has proposed raising taxes and introducing a new one. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year. Analysts: Czechs became poorer in the second quarter at the highest rate in the country's history since 1993. Czech Republic is the fastest-indebted country in the EU, warns SAO. Japan's GDP grew by 2.2 percent in the second quarter thanks to private consumption. Turkey's inflation rate has risen to 80.2 percent, the growth rate is slowing. European finance ministers and governors will meet in Prague on Friday and Saturday. Austrian: If the EU finds an agreement, it could lead to calm in energy markets. According to one banker, the eurozone needs another significant interest rate increase in September. Prague will give city halls CZK 265.95 million to help families threatened by inflation. An informal meeting of European finance ministers and governors continues in Prague. The Swiss Central Bank has ended the era of negative interest rates in Europe. Association: Companies are fighting for survival due to energy prices, immediate government assistance is needed. In the opening round, the Chamber of Deputies supported an increase in this year's deficit to CZK 330 billion. EU ceramic companies are looking for a way to survive the sharp rise in energy prices. Low river levels threaten Berlin's plans to strengthen energy security. Czech household debts to banks rose by 8.4 billion to 2.11 trillion CZK in July. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. EU ministers will discuss solutions to unforeseen events in Prague. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising. Solomon will submit a package of proposals to the government to reduce the administrative burden. The state and local governments spent 12.6 billion CZK on the refugee crisis at the end of July. Analysts: The European Central Bank's rate hike will increase pressure on the crown. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. Central Bank: Banknotes with the image of the Queen remain legal tender. CNBC: Economists differ on long-term development of the Russian economy. ZEW: Investor confidence in the German economy fell in August due to inflation. Inflation in Germany accelerated again in August after two months to 7.9 percent. Business unions: The Czech Republic should not copy German solutions to the energy crisis. Eurometaux: The energy crisis is an existential threat to metal production in Europe. Bartoš: EU cohesion funds can provide money for projects threatened by price increases.

Stock exchanges: Russian company Alrosa is again selling large quantities of diamonds, especially to India. European energy prices are falling as the EU plans to intervene in the crisis. The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt hour today. The price of electricity on the German stock exchange exceeded 500 euros per megawatt hour for the first time.

Finance: A man who forced a bank robbery to pay off his debts was freed in Lebanon. Index: Financial literacy of Czechs improved slightly this year. Comparator: Almost a third of bonds on the Czech market are risky. Media: JPMorgan wants to move from Frankfurt to London due to concerns about electricity shortages. ČSOB survey: Innovation is still lacking in the Czech Republic.