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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: Australia raises key interest rate by half a percentage point. Millions of rupees found in presidential palace during protest in Sri Lanka. ECB wants to favor green companies when buying corporate bonds. Swiss central bank raises interest rates for the first time in 15 years. Czech National Bank is reviewing the Ministry of Finance's announcement of a proposal to pay a higher dividend for ČEZ shares. BBC: Russian elite gathering in St. Petersburg against the backdrop of the war against Ukraine. Czech National Bank Governor Michl: Reducing inflation will be a priority. Courts have declared 341 company bankruptcies this year, 41 fewer than a year ago. Prognos: Interruption of Russian gas supplies would plunge the German economy into recession. Wienerberger and Heluz rely on the amendment to the regulatory levels in the gas crisis. The introduction of the euro in the Czech Republic is now disadvantageous and unrealistic, agreed Vystrčil and Havlíček. Fitch has downgraded the assessment of global government debt. Business activity in the eurozone has deteriorated sharply due to inflation. Germany is debating whether households or companies will bear the burden of a gas outage. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. OECD: Global change in corporate taxes could be in effect from 2024. The IMF has worsened the outlook for global economic growth for this year and next. UBS: The eurozone is heading for stagflation, economic growth will almost stop this year. Czech household debts to banks increased by 16.7 billion to 2.084 trillion CZK in May. G7 countries are moving towards a ban on gold imports from Russia, the EU may also join. IMF lowers global economic growth forecast, recession cannot be ruled out in 2023. ECB climate stress test shows banks at risk of 70 billion euros in losses. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. Global corporate debt has fallen for the first time in eight years. Exhibitions and Bata publications will commemorate the anniversary of Tomáš Bata's death in Zlín. Chinese export growth surprisingly accelerated in June. CNB: Qubix Investment does not have a license to provide investment services in the Czech Republic. Analysis: 91 percent of companies did not publish their financial statements for last year on time. G7 countries want further sanctions against Russia, they may affect gold and energy prices. The Russian Central Bank surprisingly reduced the base interest rate to eight percent. The Czech Republic's foreign debt rose to 4.665 trillion crowns in the first quarter. ČNB: Household deposits in banks increased slightly by CZK 3.5 billion in May. The CNB left mortgage limits and the credit market protection rate unchanged. The new CNB Bank Board met for the first time and divided its powers. Crystal Bohemia glassworks increased its turnover to CZK 1.4 billion last year.

Stock exchanges: Switzerland has limited the import of Russian gold, reflecting signs of co-financing the war. The price of gold is at a more than annual minimum, interest rate movements in the eurozone are expected. Analyst: The price of gold in dollar terms is at this year's minimum.

Finance: Šmejc: As head of the PPF group, I am more willing to connect with partners in transactions. Bank of America and Goldman Sachs have lower profits, investments have not been successful. Chinese banks are now taking on record amounts of debt due to rising losses from bad loans. French bank BNP Paribas is interested in Dutch ABN Amro, writes Reuters. PPF's annual report for 2021 focuses on business and non-profit activities. Index: The average Czech investor in funds lost 11.6 percent in the first half of the year. EU prepares to expand sanctions against Sberbank, wants to punish the Night Wolves as well.