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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 Czech Republic's foreign debt rose to 4.665 trillion crowns in the first quarter. The Hungarian central bank unexpectedly raised the base interest rate to 7.75 percent. CNB Governor Michl: Reducing inflation will be the priority. Wienerberger and Heluz rely on the amendment on regulatory levels in the gas crisis. British companies are turning away from China, says the head of the Confederation of British Industry. Germany reported a foreign trade deficit in May for the first time since 1991. Crystal Bohemia glassworks increased its turnover to 1.4 billion crowns last year. Senator Chalánková proposed constitutionally enshrining the right to cash payments. UN: Rising living costs are pushing millions of people into extreme poverty. CNB left mortgage limits and the credit market protection rate unchanged. Fitch has worsened the rating of global sovereign debt. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. Study: The number of personal bankruptcies decreased by a tenth to 7,468 in the first half of this year. The government approved the amendment to the 2022 budget with a deficit of CZK 330 billion. Powell: The Fed will not let the US economy slip into a higher inflation regime. Komerční banka was fined CZK 7.5 million by the Czech National Bank for violating mortgage rules. Analysts: Year-on-year inflation will probably increase due to energy prices. The introduction of the euro in the Czech Republic is now disadvantageous and unrealistic, agreed Vystrčil and Havlíček. Rubikonfin received a securities dealer license from the Czech National Bank. The Russian Central Bank surprisingly reduced the base interest rate to eight percent. Colombian and Venezuelan entrepreneurs are preparing to open the border. China's economy shrank by 2.6 percent in the second quarter, more than expected. Czech household debt to banks rose by 16.7 billion to 2.084 trillion CZK in May. The ECB's climate stress test showed that banks are at risk of losses of 70 billion euros. The Norwegian central bank surprisingly raised the base interest rate to 1.25 percent. The Czech National Bank is examining the Ministry of Finance's announcement of a proposal to pay a higher dividend for ČEZ shares. The Polish central bank has raised the base interest rate to 6.5 percent. The IMF will reduce its estimate of global economic growth, a recession cannot be ruled out in 2023. The Fitch agency has downgraded Belarus' foreign currency debt rating to limited default. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. Millions of rupees were found in the presidential palace during a protest in Sri Lanka. According to the association, including heating plants in the sector tax would jeopardize their modernization. The new CNB Bank Board met for the first time and divided its powers. Global corporate debt fell for the first time in eight years.

Stock exchanges: Gazprom will not pay dividends for the first time since 1998, the company's shares have weakened sharply. Analyst: The price of gold in dollar terms is at this year's minimum. Switzerland has limited the import of Russian gold, reflecting signs of co-financing the war. The prices of precious metals are not growing this year, food and oil have become more expensive by tens of percent.

Finance: Chinese banks are now taking on record debt due to the growth of losses from bad loans. The Financial Stability Board will propose global rules for regulating cryptocurrencies. The EU is preparing to expand sanctions against Sberbank, and also wants to punish the Night Wolves. Cryptocurrency lending firm Celsius has filed for bankruptcy protection from creditors. Česká spořitelna's net profit rose by 67 percent in the first half of the year to 11 billion crowns. Times: Prince Charles received millions in cash from Qatari sheikh for charity. The number of dollar millionaires in the Czech Republic rose by 6.9 percent last year to 32,200.