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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: Czech household debts to banks rose to 1.942 trillion crowns in June. Pardubice refinery Paramo ended last year with a loss of 687 million crowns. According to analysts, inflation will remain around three percent in the summer, uncertainty is easing. Prices in Czech industry accelerated growth to 5.1 percent in May. The Czech National Bank will end the validity of older banknote designs from 1995 to 1999 in a year. Household debts to banks rose by 13 billion in April, and those of businesses by 5.5 billion CZK. CNB: The number of currency exchange offices fell by six percent compared to last year. Industrial developer CTP sold green bonds for 25.5 billion crowns. The European Central Bank has taken the first step towards launching a digital euro. German inflation hits 13-year high, unions call for wage hikes. Czech Republic's foreign trade in May ended in a surplus of 6.3 billion crowns. India's central bank discourages credit institutions from trading cryptocurrencies. The Ministry of Finance sold bonds for 12.2 billion CZK today as planned, with greater interest.

Stock exchanges: 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. Czech Statistical Office: Prices of raw materials and mineral fuels rose by tens of percent year-on-year in April. The world's third-largest diamond was probably mined in Botswana. The price of gold fell below $1,700 per troy ounce, later erasing part of its losses. An American manufacturer of electric motors without precious metals received $225 million. The price of copper has reached a record high, with a ton of more than $10,300.

Finance: Gold and silver have fallen by six percent this year, but technical metals are rising in price. The British central bank has not changed its monetary policy despite inflation. Index: The average Czech investor in funds earned 5.5 percent this year. The Hungarian central bank has increased the base interest rate, the first in the EU since the pandemic. Tkáč will make joint investments with Křetínský in the new J&T Capital Partners. The EU has launched a bond sale plan with which it wants to overcome the impacts of the pandemic. The volume of bank loans in April fell by 56 billion to 6.515 trillion CZK. PPF wants to acquire 100 percent of the operator O2, now controls 83.58 percent. ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion crowns last year. Gold rose to this year's maximum today, the price increased by five percent in a month. Visa will buy the Tink open banking platform for 1.8 billion euros. Czech companies issued corporate bonds in the first quarter as in 2020. Tykač's Belviport increased its stake in Moneta Money Bank to over three percent. Entrepreneurs from COVID guarantee programs received 56.2 billion CZK as of May 31. The US central bank left interest rates unchanged, is considering limiting support. Almost a fifth of Czechs pay with their mobile phones, but they do not want to give up cash. Developer Sekyra Group offers bonds for up to half a billion crowns. The US central bank left its monetary policy unchanged. The Economic Committee called on the Czech National Bank to protect life insurance clients. Golden Gate CZ's revenues increased by 47 percent this year to CZK 1.28 billion. The volume of housing loans amounted to CZK 29 billion in April, the second highest. Revolut applied for a specialized European banking license in the Czech Republic today. Indian digital payments provider Paytm is preparing a record share offering. Index: Average mortgage rate returned above two percent in May. Minister: Russia will remove dollar assets from its state investment fund.