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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: Ten percent of the richest Americans own a record 89 percent of stocks in the US. According to businessmen, expensive energy has already affected the production of companies, including the Duslo chemical company. Experts: Chip supplies for the automotive industry will only return to normal next year. According to economists, inflation will exceed five percent by the end of the year and the Czech National Bank will further increase rates. The Ministry of Finance wants to increase the limit for mandatory VAT payment to two million CZK, asks Brussels. Farmers: Strengthening the koruna exchange rate will reduce EU subsidies in real terms. According to Rusnok, Schillerová's statement regarding the Czech National Bank's rate increase is incompetent. Inflation has accelerated significantly again, for example, tomatoes have become 60 percent more expensive. IMF: Introducing cryptocurrencies as legal tender is unreasonable and risky. The Nobel Prize in Economics is awarded to David Card, Joshua Angrist and Guido Imbens. China's electricity shortage is closing factories, analysts are worsening growth prospects. North Korea is looking for new solutions to food shortages, raising black swans for food. Fixed.zone received the CNB's approval for a public offering of shares today. The Czech Republic's August foreign trade results disappointed analysts' expectations. At the end of September this year, the state collected CZK 15 billion more in taxes than a year ago.

Stock exchanges: The price of aluminum rose to USD 3,000 per ton for the first time in 13 years. Týnský Kovostroj expects record sales, interest in window profiles is huge. The price of zinc has increased significantly due to production outages, it is the highest in 14 years. Chinese oil company CNOOC plans to enter the Shanghai stock exchange. The price of gold rose to a monthly high after the dollar and bond yields weakened. The EU and the US resolved a protracted dispute over tariffs on aluminum and steel imposed by Trump.

Finance: The Polish central bank raised interest rates the most since 2000. Global Payments launches acceptance of cryptocurrencies through its payment terminals. Goldman Sachs' quarterly profit rose sharply, exceeding expectations. Moneta's net profit increased by more than half to CZK 2.9 billion. Citigroup, Morgan Stanley and Bank of America's profits exceeded expectations. The study found that only a handful of people and companies still hold the most bitcoin. Fincentrum: The volume of mortgages has increased by 90 percent this year, last year was a record. The Polish central bank surprisingly increased the base interest rate to half a percent. The Czech National Bank has no objections to ČSOB's intention to pay a dividend of CZK 4.1 billion this year. Interest in bonds for citizens in the 12th issue was record high, the state has launched a new issue. G7 representatives approved principles for central bank digital currencies. DER Touristik Eastern Europe solved bankruptcy insurance with a bank guarantee. British banking company Barclays doubled its quarterly profit. Hungary's central bank raised its base interest rate again. Komerční banka's profit rose by 40.7 percent to CZK 8.6 billion in three quarters. The head of the German central bank Jens Weidmann is resigning for personal reasons. Reuters: China's Evergrande missed the deadline for paying interest on bonds. Equity funds earned over 13 percent this year, bond funds lost 0.6 percent. Index: The average Czech investor in funds earned 5.43 percent this year. Česká spořitelna earned a third more in the first three quarters than a year ago. Economist: Current inflation will last for several more years. Precious metals are getting cheaper this year, industrial ones have become more expensive by tens of percent. Expensive oil has increased the assets of the Russian state investment fund to a record. Sales of gold and silver in the Czech Republic are growing significantly, at Golden Gate they increased by 22 percent.