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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: Analysts: Sanctions will hit Russia hard, banking sector in the Czech Republic will not be destabilized. BBC: Black Monday of the Russian economy. Ukraine imposes state of emergency, West imposes sanctions; Russia withdraws diplomats. Biden announces sanctions against company that built Nord Stream 2. French TotalEnergies will no longer invest in Russia, but will not leave the country. Growth of business activity in the eurozone accelerated significantly in February, companies are raising prices. Bloomberg: The richest Russians have already lost $83 billion this year. Indian tax authorities have raided several offices of the Chinese company Huawei. Japan will join sanctions against the Russian central bank. According to economists, inflation in January could have exceeded the ten percent mark. The defendants in the alleged tax evasion case involving JIP have pleaded not guilty. The Japanese economy grew by 5.4 percent thanks to private consumption. Norwegian oil companies increased their investment plans, but will still fall short of last year. Analysts: The conflict in Ukraine will initially affect mainly energy and food. Unemployment in Britain remained at 4.1 percent, but the number of employed people decreased. 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 closure of airspace is another blow to global supply chains. Analysis: The escalation of the conflict in Ukraine will lead to an increase in inflation in the Czech Republic.

Stock exchanges: The price of gas for the European market has increased by a third due to the attack on Ukraine. Precious metals rise in price during invasion of Ukraine, gold up 1.5 percent. Gold price exceeds $1,900 for first time since June due to tensions over Ukraine. De Beers: Diamond supplies have peaked and will be stable for several decades. Gold price is at more than a year-long high of $1,940 after attack on Ukraine. Gold price is near a nine-month high due to crisis in Ukraine.

Finance: Czech Savings Bank's net profit rose 41.7 percent last year to 14.2 billion crowns. Buffett's Berkshire bought a significant stake in Activision. World Bank to release $1 billion to help Afghanistan. Russia's central bank raised its base rate to 9.5 percent, as expected. According to Reuters sources, the EU is unlikely to cut Russia off from the SWIFT system for now. After the House of Representatives, the Senate also approved provisional financing for the US government. Greece will repay the last loans from the IMF by the end of March, the finance minister said. Spanish banks are expanding services at branches after complaints about senior citizens. 150 protesters in front of the German embassy demanded that Russia be cut off from SWIFT. BBC News: There are no dollars here, I don't know what to do!. Deutsche Welle: The death of Petr Kellner is sending the PPF group further west. According to experts, Sberbank CZ clients should open an account at another bank. The World Bank and the IMF plan to provide Ukraine with three billion dollars. Index: Commodity and equity funds made a profit in January, while bond funds lost. ECB head: Raising interest rates now would not reduce inflation, but would hurt the economy. The Moscow Stock Exchange decided to postpone the start of trading. The Russian Central Bank more than doubled the base interest rate to 20 percent. Washington is considering sanctions against Russia's central bank over its invasion of Ukraine. Allianz has set aside 3.7 billion euros due to legal disputes in the US. ECB: Russia's Sberbank's European division is at risk of collapse due to the outflow of deposits.