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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: The French central bank has raised this year's economic growth outlook. Analysts: Industry fell month-on-month due to a shortage of components in production. Czech household debts to banks rose to 1.942 trillion crowns in June. CNB: The number of currency exchange offices fell by six percent compared to last year. Bloomberg: Taxing the empty apartments of the rich will not solve the housing crisis. Inflation has exceeded four percent, the highest since November 2008. El Salvador is the first country to adopt bitcoin as a national currency. The quarantine in the Chinese port caused a domino effect in global trade. According to estimates, year-on-year inflation was rather stagnant in August. Mikov achieved the withdrawal of a fake copy of the Rybička knife from two manufacturers. BioNTech could increase Germany's economic growth by half a percentage point this year. The Pardubice refinery Paramo ended last year with a loss of 687 million crowns. Rusnok: The latest inflation data does not mean a change for the monetary policy of the Czech National Bank. Share offers in Europe were the highest in 14 years in the first half of the year.

Stock exchanges: The price of gold fell below $1,700 per troy ounce, later erasing part of the losses. Problems with carmakers' chips are reducing the prices of platinum group metals. The price of aluminum is the highest in a decade due to concerns about supplies from China. The price of aluminum rose to $3,000 per ton for the first time in 13 years. The price of aluminum rose to the highest in 13 years due to the coup in Guinea. A mining company backed by Bezos and Gates will search for metals in Greenland.

Finance: The investment wine market is at its peak, prices rose by 5.5 percent on average. Entrepreneurs from COVID guarantee programs received CZK 56.2 billion as of May 31. Austrian Erste, which owns Česká spořitelna, tripled its quarterly profit. Bloomberg: The Kellner family is considering options for Home Credit. Golden Gate CZ's revenues increased by 29 percent in the first half of 2021 to CZK 2.57 billion. Sales of gold bars and coins were the highest this year since 2013. The Ministry of Finance sold negative-yielding euro bonds today amid high interest. European Commissioner Gentiloni warned against tightening monetary policy too soon. The largest banks announced an increase in mortgage rates. Revolut applied for a specialized European banking license in the Czech Republic today. Industrial metals rose in price by up to a quarter in the first half of the year, gold and silver fell in price. Czech companies' deposits exceeded loans by CZK 115 billion in July. The largest banks announced an increase in mortgage rates. Large American banks passed the stress test, they no longer have to limit dividends. Banks will pay more into reserves to protect the credit market. Equa Bank was forced to shut down its systems at night, clients had incorrect amounts in their accounts. A company from the Arca group does not agree with the dismissal of insolvency administrator Louda. ČSOB Pojišťovna achieved a record profit after tax of CZK 1.437 billion last year. The volume of housing loans fell in July, but it is still the third strongest month. Analysts: Bank savings accounts are now depreciating by three percent per year. Entrepreneurs received CZK 60.7 billion from COVID guarantee programs as of June 30. The Forgotten Billions service found money from the coupon privatization period for 17,000 people. Gold and silver have fallen by six percent this year, but technical metals are becoming more expensive. ECB changes approach to monetary policy, promises longer-term support for the economy. Czech companies issued corporate bonds in the first quarter as in 2020.