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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: Venezuela will remove six zeros from all banknotes from October due to hyperinflation. Rusnok: The latest inflation data do not mean a change for the CNB's monetary policy. German inflation has reached a 13-year high, unions are calling for wage increases. The Pardubice-based Paramo refinery ended last year with a loss of 687 million crowns. El Salvador is preparing to adopt bitcoin as the first country to accept bitcoin as a national currency. Consumer prices rose by 3.4 percent year-on-year in July, the most in a year. The Czech Republic's foreign trade in May ended in a surplus of 6.3 billion crowns. Year-on-year inflation in July was the highest in a year, exceeding market and CNB expectations. Analysts: July inflation supports the scenario of further CNB rate increases. Moser Glassworks is again producing film globes, has a new store and exhibition. The Czech National Bank will end the validity of older banknote designs from 1995 to 1999 in a year. The Czech National Bank raised rates today for the first time since February 2020, and will continue to do so. A cement plant near Lovosice is testing lithium extraction technology.

Stock exchanges: An American manufacturer of electric motors without precious metals has raised $225 million. The price of aluminum is the highest in a decade due to concerns about supplies from China. The recovery in the diamond market continues, De Beers sold the most stones since February. A mining company backed by Bezos and Gates will search for metals in Greenland. The price of gold fell below $1,800 per ounce in response to the Fed meeting. The price of gold fell below $1,800 per ounce in response to the Fed meeting.

Finance: PPF wants to acquire 100 percent of the operator O2, now controls 83.58 pct.. Visa will buy the Tink open banking platform for 1.8 billion euros. Golden Gate CZ's revenues increased by 29 percent in the first half of 2021 to 2.57 billion CZK. The volume of bank loans in April fell by 56 billion to 6.515 trillion CZK. The Hungarian central bank has increased the base interest rate, the first in the EU since the pandemic. ECB: Eurozone residents stocked up on cash during the pandemic. Tkáč will make joint investments with Křetínský in the new J&T Capital Partners. Gold and silver have fallen by six percent this year, but technical metals are becoming more expensive. The US central bank left monetary policy unchanged. The Forgotten Billions service found money from the coupon privatization era of 17,000 people. Citigroup and Bank of America sharply increased profits thanks to the release of reserves. South Korea's central bank raised interest rates. Czech companies issued corporate bonds in the first quarter as in 2020. Developer Sekyra Group offers bonds for up to half a billion crowns. Almost a fifth of Czechs pay by mobile phone, but they do not want to give up cash. The volume of housing loans fell in July, but it is still the third strongest month. The investment wine market is at its peak, prices rose by 5.5 percent on average. The share of foreign investors with Czech bonds increased in the first half of the year. Sales of gold bars and coins were the highest this year since 2013. European Commissioner Gentiloni warned against tightening monetary policy too soon. According to the ECB Vice President, the eurozone economy is growing faster than expected. A company from the Arca group does not agree with the dismissal of insolvency administrator Louda. Industrial metals rose in price by up to a quarter in the first half of the year, while gold and silver fell in price. Revolut applied for a specialized European banking license in the Czech Republic today. The Ministry of Finance sold negative-yielding euro bonds today, with high interest. The British central bank did not change its monetary policy, but warns of higher inflation.