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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: Defendants in alleged tax evasion case involving JIP plead not guilty. Eurozone business growth accelerates significantly in February, companies raise prices. Study: China invested most in Iraq in new Silk Road project last year. Reuters: Lebanon calls on embassies to seek sponsors. Reuters: China would diplomatically support Russia in case of invasion of Ukraine. Russian attack on Ukraine raises oil and gas prices, likely to hit European economy. Israeli GDP grew by 8.1 percent last year, showing the sharpest growth in 21 years. Analysis: Escalation of conflict in Ukraine will lead to higher inflation in the Czech Republic. Rusnok: If forecasts come true, further significant rate increases will not be necessary. The CNB Council raised the base interest rate to 4.5 percent, the highest since 2002. Czech households' debts to banks rose to CZK 2.049 trillion in December. Biden announced sanctions against the company that built Nord Stream 2. The Slovak government proposed a special tax on profits from the sale of nuclear electricity. Reuters: The Ukrainian crisis could have far-reaching effects on the European economy. According to economists, inflation in January could have exceeded the ten percent mark. Analysts: Despite good data, the economy will only reach pre-pandemic levels this year. Ukraine imposes a state of emergency, the West imposes sanctions; Russia withdraws diplomats. Louis Vuitton will raise prices due to higher production and transportation costs. WTO: Increased demand is mainly behind the shortage of goods, difficulties should ease. The world must release frozen funds to famine-stricken Afghanistan, Guterres said. Bruegel: Interruption of Russian gas supplies would have serious impacts on the EU economy. The number of corporate bankruptcies stagnated in January, while the number of business bankruptcies rose.

Stock exchanges: Gold price nears nine-month high due to Ukraine crisis. Gold price nears nine-month high due to Ukraine crisis. Gas price for the European market has increased by a third due to the attack on Ukraine. Bloomberg: Analysts disagree on whether there will be enough lithium on the market. Gold price at more than a year high of $1,940 after the attack on Ukraine.

Finance: Reuters: Křetínský likely to sell his stake in Aareal bank. The Fed has indicated that it plans to start raising the base interest rate in March. The Caribbean island of Jamaica is introducing its own digital currency. After the House of Representatives, the Senate also approved provisional financing of the US government. European and American banks are preparing for the impact of sanctions against Russia. The Hungarian central bank raised the base interest rate the most in a decade. Italy's UniCredit tripled its profit last year, also exceeding estimates in sales. Household deposits in banks rose by 197.6 billion to 3.02 trillion crowns last year. Index: Commodity and stock funds made a profit in January, while bond funds lost. Buffett's Berkshire bought a significant stake in Activision. The Russian central bank, as expected, increased the base interest rate to 9.5 percent. Ukraine is threatened with being cut off from air transport, Kiev wants to keep the skies open. The Danish pension fund will sell its stake in Wizz Air due to disagreements. Ukraine needs money, has limited access to markets due to the risk of invasion. The largest Swiss bank UBS has the highest profit in 15 years last year. According to Reuters sources, the EU is unlikely to cut Russia off from the SWIFT system for now. PwC: Mergers and acquisitions in the cryptocurrency sector increased by almost 5,000 percent last year. Allianz has set aside 3.7 billion euros due to legal disputes in the US.