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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: ZEW: Investor confidence in the German economy fell in August due to inflation. The Polish central bank raised the base interest rate to 6.5 percent. Fitch downgraded Belarus' foreign currency debt rating to limited default. Inflation in Turkey rose to 79.6 percent in July, the highest in 24 years. The Russian central bank surprisingly lowered the base interest rate to eight percent. Exhibitions and Bata publications will commemorate the anniversary of Tomáš Bata's death in Zlín. The Malaysian Supreme Court confirmed the 12-year sentence for the ex-prime minister for corruption. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first seven months of the year. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. FT: European office market faces biggest test since financial crisis. Millions of rupees found in Sri Lankan presidential palace during protest. Senator Chalánková proposes constitutionalization of right to cash payments. Foreign investors have been reducing their holdings of Chinese bonds for five months. British companies are turning away from China, says head of Confederation of British Industry. South Korea's central bank raises interest rates by most since 1999. Online supermarkets offer food installments, allow deferred payment. Eurozone business activity deepens decline in August. Eurozone business activity falls due to high inflation. ECB's climate stress test shows banks at risk of €70 billion in losses. National Theatre to raise entrance fees from September, will pay three times more for energy this year. The Vysočina region has hundreds of millions more in tax revenues, while costs are rising. The Turkish central bank shocked financial markets by significantly reducing interest rates. Study: The number of personal bankruptcies fell by a tenth this year in the first half of the year to 7,468. Agency: Investor interest in commercial real estate in the Czech Republic is growing, last year by 25 percent. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. The head of the German opposition Merz proposed a plan against the inflation and energy crisis. The growth of Chinese exports surprisingly accelerated in June. The introduction of the euro in the Czech Republic is now disadvantageous and unrealistic, Vystrčil and Havlíček agreed. Low river levels threaten Berlin's plans to strengthen energy security.

Stock exchanges: Switzerland has limited the import of Russian gold, reflecting signs of co-financing the war. Russian company Alrosa is selling large quantities of diamonds again, especially to India. Gold price is at more than a year low, interest rate movements in the eurozone are awaited. Demand for gold increased by 12 percent in the first half of the year to 2,189 tons. Analyst: The price of gold in dollar terms is at this year's low.

Finance: Financial institutions paid 716 million crowns more to the Guarantee System year-on-year. Chinese banks are now taking on record debt due to the growth of losses from bad loans. Economists: The collapse of the mortgage loan market will continue in the coming months. Česká spořitelna's net profit rose by 67 percent in the first half of the year to 11 billion crowns. Société Générale fell into a loss due to its exit from Russia. The largest Swiss bank, UBS, increased its quarterly profit, but it fell short of estimates. Google Play to allow some developers in Europe to use competing payment systems. Financial Stability Board to propose global rules for regulating cryptocurrencies. Lebanon frees man who forced bank robbery to pay off debt. Crypto lending firm Celsius files for bankruptcy protection from creditors. Mortgage rates rise to 5.4 pct, volume falls by more than a third month-on-month.