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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: Louis Vuitton will raise prices due to higher production and transportation costs. Growth in business activity in the eurozone accelerated significantly in February, companies are raising prices. Biden announced sanctions against the company that built Nord Stream 2. Other Western companies are leaving Russia, such as Norway's Equinor. According to Orbán, Hungary will not veto EU sanctions against Russia, unity is key. Volkswagen, Renault and tire manufacturer Nokian are suspending production. Despite its neutrality, Switzerland will impose sanctions on Russia following the EU model. Czech household debts to banks rose to CZK 2.060 trillion in January. Czech entrepreneurs and companies are also offering financial assistance due to the situation in Ukraine. The Japanese economy grew by 5.4 percent thanks to private consumption. Reuters: Ukraine crisis could have far-reaching effects on European economy. Analysis: Escalation of conflict in Ukraine will lead to higher inflation in Czech Republic. Unemployment in Britain remained at 4.1 percent, but employment decreased. Bloomberg: The richest Russians have already lost $83 billion this year. France's TotalEnergies will no longer invest in Russia, but will not leave the country. Russia's attack on Ukraine has made oil and gas more expensive, and will likely hit the European economy. Britain has announced its largest sanctions package to date in response to the Russian attack. Norwegian oil companies have increased their investment plan, but they will still fall short of last year. Analysts: Sanctions will hit Russia hard, but will not destabilize the banking sector in the Czech Republic. Airspace closure is another blow to global supply chains.

Stock exchanges: Analysts: Gold and silver rose by five percent, oil and gas by tens of percent.. The price of gold exceeded $1,900 for the first time since June due to tensions around Ukraine. The price of gold is at a more than one-year high of $1,940 after the attack on Ukraine. Gold is at a three-month high due to Russian-Ukrainian tensions. Precious metals rise in price during the invasion of Ukraine, gold by 1.5 percent.

Finance: The West is apparently getting closer to excluding Russia from the SWIFT payment system. The World Bank will release one billion dollars to help Afghanistan. Rare coins dominated the ranking of the largest auctions on the auction portal Aukro in January. After the House of Representatives, the Senate also approved provisional financing for the US government. Washington imposes sanctions on Russia's central bank, cuts it off from assets in the US. Deutsche Welle: Death of Petr Kellner sends PPF group further west. Ruble at record low, Russia bans payments to foreign investors. Greece will repay last IMF loans by end of March, finance minister says. Spanish banks expand branch services after complaints over seniors. World Bank and IMF plan to provide Ukraine with $3 billion. Russian central bank and fund may have Chinese bonds worth up to $140 billion. Woman in Vyškov finds 15,000 CZK forgotten in ATM, it's not uncommon. Česká spořitelna's net profit rose by 41.7 pct last year to 14.2 billion CZK. Russian Sberbank has record profit, will return deposits to people in Europe and will leave. Household deposits in banks continued to grow in January, rising by 28.3 billion CZK. Mastercard has blocked several financial institutions as part of anti-Russian sanctions. Fitch and Moody's have downgraded Russia's credit rating by six notches to junk status. The number of private bankruptcies in Germany rose last year for the first time in a decade. Washington has imposed sanctions on the Russian central bank, cutting it off from its assets in the US. BBC News: There are no dollars here, I don't know what to do!.