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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: Saudi Arabian billionaire Alwaleed will sell a stake in his company to the state fund PIF. IIF: Global debt rose to a record $305 trillion in the first quarter. The Czech National Bank left mortgage limits and the credit market protection rate unchanged. Ukraine more than doubled the base interest rate to 25 percent. The Czech Republic's foreign debt rose to 4.665 trillion crowns in the first quarter. The eurozone's inflation rate rose to a record 8.1 percent in May. Study: Britain is becoming a more closed economy due to Brexit. The Hungarian Central Bank has raised the base interest rate to 5.9 percent. The Czech National Bank Council may, according to estimates, increase the base interest rate to up to seven percent. Sri Lanka to give state employees an extra day off to grow food. Inflation in Slovakia accelerates to 11.8 percent, highest since June 2000. Eurozone business growth slowed in May but remains strong. ECB to end asset purchases at end of June, leaving key interest rate at zero for now. IMF likely to further downgrade global growth outlook for this year next month. Note: CNB Council agrees that war has changed structure of inflationary pressures. Komerční banka fined CZK 7.5 million by CNB for breach of mortgage rules. Scholz: EU to decide on ban on Russian gold imports, participation in G20 open. Budapest stocks fall after announcement of extraordinary tax, mainly banks. CNB Council decides to intervene in foreign exchange market today to counter weakening koruna. One in ten households in the eurozone owns crypto assets, ECB survey shows. The Australian central bank raised interest rates by 0.5 percentage points, the most in 22 years. The president will appoint new members of the bank board today, the names have not yet been published. The G7 summit stood up for Ukraine and is preparing further anti-Russian sanctions. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. The crown strengthened slightly today after the appointment of three new members of the CNB bank board. Three quarters of young Lebanese want to go abroad, most do not intend to return. Aleš Michl will be the new CNB governor from July, he wants rate stability. Fiala wants price stability, other politicians point out Michl's connection to Babiš. According to the prime minister, Sri Lanka needs at least five billion USD for basic goods. The volume of debt collection agencies' receivables fell by 150 million last year to 21.05 billion CZK. Business activity in the eurozone has deteriorated sharply due to inflation. ECB to accelerate work on a mechanism to reduce differences in bond yields. Dun & Bradstreet: In most countries of the world, corporate bankruptcies decreased last year. Drink less tea, the Pakistani government, which is dealing with the economic crisis, urged citizens. Inflation rose to 16 percent in May and will continue to rise, it is the ninth highest in Europe. Prognos: Interruption of Russian gas supplies would plunge the German economy into recession.

Stock exchanges: Energy and food commodities have risen in price by tens of percent since the invasion.

Finance: Retailers: Gold sales have increased by tens of percent after the Russian invasion of Ukraine. The Czech National Bank fined the Czech Post Office half a million crowns for investment services. The number of dollar millionaires in the Czech Republic increased by 6.9 percent last year to 32,200. SMBC will become the second largest aircraft lessor by taking over rival Goshawk. PayPal will allow moving cryptocurrencies to external wallets. People from banks and technology companies are more likely to leave for fintech start-ups. Kooperativa and Česká podnikatelská pojišťovna became the insurance company of the year. List News: Tykač has the consent of the CNB to increase its stake in Moneta to 20 percent.