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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: The Polish central bank has raised the base interest rate to 6.5 percent. Turkey's inflation rose to 79.6 percent in July, the highest in 24 years. The banking association has improved its estimate of Czech economic growth for this year to 2.4 percent. Older banknotes expired today, they can be exchanged. Crystal Bohemia glassworks increased its turnover to 1.4 billion crowns last year. The National Theatre will increase admission prices from September, this year it will pay three times more for energy year-on-year. OECD: Global change in corporate taxes could be in effect from 2024. The Washington Post: Ukraine is also losing raw material deposits in the war. Australia has raised its main interest rate by half a percentage point. Senator Chalánková has proposed constitutionally enshrining the right to cash payments. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. The Argentine central bank raised the base interest rate to 69.5 percent. Activity in the eurozone business sector has fallen due to high inflation. The company Rubikonfin received a securities dealer license from the Czech National Bank. Germany is debating whether households or companies will bear the burden in the event of a gas outage. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. The Czech National Bank left the base interest rate at seven percent, inflation is expected to be around 20 percent. The IMF has worsened the outlook for global economic growth for this year and next year. The Chinese economy fell by 2.6 percent in the second quarter, more than expected. CNB Governor Michl: Reducing inflation will be the priority. British companies are turning away from China, says the head of the Confederation of British Industry. Car manufacturers report lower demand in Europe and North America. German opposition leader Merz proposes plan to combat inflation and energy crisis. Fitch agency downgrades Belarus' foreign currency debt rating to limited default. Czech household debt rose by 18.3 billion to 2.102 trillion crowns in June. Analysts: Year-on-year inflation likely to rise further due to energy prices. UN: Rising cost of living pushes millions into extreme poverty. Analysts: Bad weather threatens rice harvest, price may increase inflation. ECB wants to favor green companies when buying corporate bonds. Millions of rupees found in presidential palace during protest in Sri Lanka. Agency: Investor interest in commercial real estate in the Czech Republic is growing, up 25 percent last year.

Stock exchanges: Ukrainian company Naftogaz has introduced a new plan to postpone payments. Switzerland has limited imports of Russian gold, reflecting signs of co-financing the war. Analysts: Commodities have been falling in price recently, but have risen significantly this year. Analyst: The price of gold in dollar terms is at this year's minimum. Demand for gold increased by 12 percent in the first half of the year to 2,189 tons.

Finance: Economists: The decline in the mortgage market will continue in the coming months. Mortgage rates rose to 5.4 percent, the volume fell by more than a third month-on-month. Internet broker Robinhood Markets will lay off 23 percent of employees. Generali's operating profit rose by 4.8 percent thanks to the growth of life insurance. Expert: Sberbank cz's largest creditor is the Financial Market Guarantee System. Société Générale plunged into losses due to its exit from Russia. Komerční banka's profit in the first half of the year increased by 60.3 percent year-on-year to 8.4 billion. Chinese banks are now taking on record debt due to rising losses from bad loans. Česká spořitelna's net profit in the first half of the year increased by 67 percent to 11 billion crowns.