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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: China unexpectedly cut interest rates after weak static data for July. Senator Chalánková proposed constitutionally enshrining the right to cash payments. Crystal Bohemia glassworks increased its turnover to 1.4 billion crowns last year. CNB: Qubix Investment is not licensed to provide investment services in the Czech Republic. Czech household debt rose by 18.3 billion to 2.102 trillion crowns in June. ZEW: Investor confidence in the German economy fell in August due to inflation. Global corporate debt fell for the first time in eight years. UN: Rising living costs are pushing millions of people into extreme poverty. Analyst: CNB doubled support for the crown to 174 billion crowns in June. Year-on-year inflation accelerated again, but analysts were surprised by the slower pace. Analysts: Bad weather threatens the rice harvest, its price may increase inflation. Online supermarkets are solving the problem of selling food in installments, allowing deferred payment. Car manufacturers report lower demand in Europe and North America. Analysts: Foreign trade deficit deepens the import of expensive raw materials. The government approved an amendment to the 2022 budget with a deficit of CZK 330 billion. Agency: Investors' interest in commercial real estate in the Czech Republic is growing, by 25 percent last year. British companies are turning away from China, says the head of the Confederation of British Industry. Australia raised its main interest rate by half a percentage point. National Theatre will increase admission prices from September, this year it will pay three times more for energy year-on-year. CNBC: Economists differ in their views on the long-term development of the Russian economy. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. Activity in the business sector of the eurozone has decreased due to high inflation. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. The ECB's climate stress test showed that banks are at risk of losses of 70 billion euros. Chinese export growth surprisingly accelerated in June. The Chinese economy fell by 2.6 percent in the second quarter, more than expected. Foreign investors have been reducing the volume of Chinese bonds they hold for five months. The Argentine central bank has increased the base interest rate to 69.5 percent. The head of the German opposition Merz has proposed a plan against inflation and energy crises. The Banking Association has improved its estimate of the Czech economy's growth this year to 2.4 percent.

Stock Exchanges: The price of gold is at a more than annual low, interest rate movements in the eurozone are awaited. Analyst: The price of gold in dollar terms is at this year's low. Ukrainian company Naftogaz has introduced a new plan to postpone payments. Oil adds over four percent due to concerns about Russian supplies and a weak dollar.

Finance: Economists: The collapse of the mortgage market will continue in the coming months. EU is preparing to expand sanctions against Sberbank, wants to punish the Night Wolves as well. The Financial Stability Board will propose global rules for the regulation of cryptocurrencies. Česká spořitelna's net profit rose by 67 percent in the first half of the year to 11 billion crowns. Online broker Robinhood Markets will lay off 23 percent of employees. Expert: The largest creditor of Sberbank cz is the Financial Market Guarantee System. Mortgage rates rose to five percent, the volume fell by 8 percent month-on-month to 19 billion. Komerční banka's profit in the first half of the year increased by 60.3 percent year-on-year to 8.4 billion. Société Générale fell into a loss due to its exit from Russia. Generali's operating profit increased by 4.8 percent thanks to the growth of life insurance. A man was freed in Lebanon who forced the payment of money by robbing a bank.