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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: ČNB began to intervene in the foreign exchange market against the weakening of the koruna. Kremlin: The US is waging an economic war against Russia. Analyst: The world may be on the verge of an energy crisis similar to the one in the 1970s.. Fitch Ratings confirmed Slovakia's credit rating at grade A. Drawing from COVID guarantees as of February 15 increased by 600 million to 73 billion CZK month-on-month. Sentix: Investor confidence in the eurozone economy fell due to the war in Ukraine. Yellen: Coronavirus aid fund will help the US withstand shocks due to Ukraine. After the interventions of the CNB, the koruna began to strengthen against the euro and the dollar. The US foreign trade deficit widened by 9.4 pct. to a record in January. ZEW: Investor confidence in the German economy has fallen to a record low due to the war. Britain will ban the export of luxury goods to Russia and introduce new import duties. Analysts: Inflation will rise further, may exceed 12 percent. Habeck: Sanctions against Russia will slow the recovery of the German economy. Other companies, including Philip Morris and Nestlé, are limiting their activities in Russia. Shipping company Maersk is trying to get 50,000 containers out of Russia. Kiev: The Russian invasion has caused at least $100 billion in damage so far. EU countries have approved the fourth package of sanctions against Russia, which will hit luxury and energy. Biden: G7 will abolish the most-favoured-nation clause for Russia, the US will limit imports from Russia. Inflation in the Czech Republic may rise to around 13 and 14 percent, Rusnok said.

Stock markets: Oil and gold prices continue to rise, world talks on ban on oil imports from Russia. Wholesale gas price for the European market fell by 70 percent in a week. Analyst: Ukraine crisis may derail Musk's dream of cheaper electric cars. The price of palladium has fallen sharply due to hopes for progress in Russia-Ukraine talks. India is considering buying discounted Russian oil and commodities, officials say. Norilsk Nickel owner warns against dragging Russia back to 1917.

Finance: RTR: Some creditors have received interest payments on Russia's dollar bonds. The World Bank has approved loans and grants to Ukraine for $723 million. The Argentine Senate has approved a new agreement with the IMF, which is intended to avert the country's collapse. ČSOB was fined by the Czech National Bank for failing to launch secure payments on the web in time. Fitch and Moody's have lowered Russia's rating by six notches, to speculative grade. The Russian Central Bank is introducing a cap on withdrawals from foreign currency accounts. PayPal is suspending its services in Russia due to the invasion of Ukraine. Expobank CZ will be owned by a consortium of Signet Bank AS and American investors. The Russian Central Bank and the fund may have Chinese bonds worth up to USD 140 billion. S&P has sharply lowered Russia's rating deeper into non-investment grade. Reuters: Moscow and Beijing are working on how to bypass the SWIFT payment system. Analysts: Czech bank share prices are falling due to anti-Russian sanctions. Germany's leading bank announced that it is withdrawing from Russia after criticism. Reuters: Regulators are preparing to close the European division of the Russian bank VTB. Russian banks are turning to the Chinese system due to the departure of Visa and Mastercard. ECB will reduce bond purchases faster due to high inflation. Chotěbori left 105 million crowns in Sberbank, the city had them for investments. American rating agency Fitch will suspend business activities in Russia. ECB will reduce bond purchases faster due to high inflation. World Bank increases first aid payment to Ukraine to 460 million euros.