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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: Sentix: Investor confidence in the eurozone economy has fallen due to the war in Ukraine. The Czech National Bank has begun to intervene in the foreign exchange market to counter the weakening of the koruna. Other companies, including Philip Morris and Nestlé, are limiting their activities in Russia. France's TotalEnergies will no longer invest in Russia, but it will not leave the country. Habeck: Sanctions against Russia will slow the recovery of the German economy. Analysts: The war in Ukraine will hit the slowly recovering Czech industry. The US foreign trade deficit widened by 9.4 pct. in January to a record. Analyst: The world may be on the verge of an energy crisis similar to the one in the 1970s.. Bloomberg: The richest Russians have already lost 83 billion USD this year. Kremlin: The US is waging an economic war against Russia. Minister: Germany cannot quickly disconnect from Russian energy resources. According to Orbán, Hungary will not veto EU sanctions against Russia, unity is key. ZEW: Investor confidence in the German economy has fallen to a record low due to the war. Kiev: Russian invasion has caused at least $100 billion in damage so far. Biden: G7 will revoke Russia's most-favoured-nation clause, US will limit imports from Russia. Italy wants to reduce dependence on Russian gas, will negotiate with the EC on a price cap. Bitcoin has strengthened by about 13 percent since the Russian invasion of Ukraine. Reuters: Beijing has called on state refineries to consider stopping exports in April. The number of counterfeit banknotes and coins seized in the Czech Republic rose significantly last year to 6,836. The IMF approved $1.4 billion in emergency aid for Ukraine.

Stock markets: Analyst: Ukraine crisis could derail Musk's dream of cheaper electric cars. Oil and gold prices continue to rise, world talks on ban on oil imports from Russia. India is considering buying cheaper Russian oil and commodities, officials say. Economic daily: Germans are also preparing to mine lithium in the Ore Mountains. The price of gold exceeded $2,000 per troy ounce for the first time in a year and a half.

Finance: IMF: Ukraine's economy could fall by up to 35 percent this year. Thousands of Russians stranded in Thai resorts due to the war in Ukraine. Index: Commodity funds made money in February, while stocks and bonds lost money. Reuters: Russia will probably look for replacements for the SWIFT system, alternatives will be expensive. The World Bank will release one billion dollars to help Afghanistan. Expobank CZ will be owned by a consortium of Signet Bank AS and American investors. The Russian Central Bank is introducing a ceiling for withdrawals from foreign currency accounts. Household deposits in banks continued to grow in January, rising by CZK 28.3 billion. The World Bank and the IMF plan to provide Ukraine with three billion dollars. CBA: The volume of mortgages in February fell by 23 percent to CZK 25.1 billion, rates rose. The World Bank will increase the first payment of aid to Ukraine to EUR 460 million. The ECB will reduce bond purchases faster due to high inflation. Analysts: Czech bank share prices are falling due to anti-Russian sanctions. Chotěbori had 105 million crowns left in Sberbank, the city had them for investments. Russian banks are turning to the Chinese system due to the departure of Visa and Mastercard. S&P sharply downgrades Russia's rating to non-investment grade. EU agrees to cut seven Russian banks off SWIFT, Sberbank saves money. Ruble hits record low, Russia bans payments to foreign investors. ČSOB fined by CNB for failing to launch secure online payments on time. ECB to cut bond purchases faster due to high inflation.