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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 Slovak Central Bank has warned of the vulnerability of companies in repaying loans. CNB Governor Michl: Reducing inflation will be a priority. The CNB has left mortgage limits and the credit market protection rate unchanged. Shares in Budapest are falling after the announcement of an extraordinary tax, especially banks. Russia repaid its debt early today to avoid insolvency. Analysis: 91 percent of companies did not publish their financial statements for last year on time. The ECB will accelerate work on a mechanism that will reduce differences in bond yields. Dun & Bradstreet: In most countries of the world, corporate bankruptcies decreased last year. The Accolade Group is investing over 1.5 billion crowns in Spain, newly in Seville. The volume of debt collection agencies' receivables fell by CZK 150 million last year to CZK 21.05 billion. According to the association, including heating plants in the sectoral tax would jeopardize their modernization. This year, courts declared 341 company bankruptcies, 41 fewer than a year ago. The president will appoint new members of the bank board today, but he has not yet published their names. Czech National Bank: Residents' deposits in banks rose slightly by CZK 3.5 billion in May. The Budějovické bishopric deepened its loss, which is due to repairs to monuments. Sri Lanka will give state employees an extra day off so they can grow food. The World Bank's chief economist doubts that a global recession can be avoided. May inflation was 1.1 percentage points higher than the Czech National Bank estimated. The IMF will probably further worsen the outlook for global growth for this year next month. BBC: Russian elite gathering in St. Petersburg amid war against Ukraine. Drink less tea, Pakistani government urges citizens as it tackles economic crisis. Czech household debt to banks rose by 16.7 billion to 2.084 trillion CZK in May. Komerční banka was fined 7.5 million CZK by the Czech National Bank for violating mortgage rules. According to the prime minister, Sri Lanka needs at least five billion USD for basic goods. Fitch downgrades global sovereign debt. Business activity in the eurozone has deteriorated sharply due to inflation. G7 summit stands by Ukraine and prepares further anti-Russian sanctions. Bloomberg: The US economy could surpass China's in growth this year for the first time since 1976. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. UBS: Eurozone heading for stagflation, economic growth will almost stop this year. Three quarters of young Lebanese want to go abroad, most do not intend to return. Rusnok: If the development confirms the CNB's estimates, rates will probably rise in June. The Hungarian central bank has raised the base interest rate to 5.9 percent. Prognos: Interruption of Russian gas supplies would plunge the German economy into recession. G7 countries are moving towards a ban on gold imports from Russia, the EU may also join. Manufacturers: Battery and hydrogen trains are the future on non-electrified lines.

Stock exchanges: Citigroup: Oil will be more expensive this year and next year, contrary to original assumptions. Russia's share in the largest platinum project in Zimbabwe is deterring investors.

Finance: People from banks and technology companies are more likely to leave for fintech start-ups. Seznam Zprávy: Tykač has the CNB's approval to increase his stake in Moneta to 20 percent. Kooperativa and Česká podnikatelská pojišťovna became the Insurance Company of the Year. French bank BNP Paribas is interested in Dutch ABN Amro, writes Reuters. PayPal will allow you to move cryptocurrencies to external wallets. The Czech Post Office was fined half a million crowns by the CNB for investment services. Deutsche Bank will stop issuing cash over the counter in most branches.