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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 quarantine in the Chinese port caused a domino effect in global trade. Bisnode: The number of unreliable VAT payers in the quarter increased at the lowest rate in seven years. The Ministry of Finance sold bonds for CZK 12.2 billion today as planned, interest was greater. Czech households' debts to banks rose to CZK 1.942 trillion in June. The Ministry of Finance sold bonds for CZK 21 billion today, amid great interest. Year-on-year inflation rose to 2.3 percent in March, and will remain above two percent. A cement plant near Lovosice is testing lithium extraction technology. The Czech Republic's foreign trade ended in a surplus of CZK 6.3 billion in May. Industrial developer CTP sold green bonds for CZK 25.5 billion. The Czech National Bank will end the validity of older banknote designs from 1995 to 1999 in a year. The Moser glassworks is again producing film globes, has a new store and exhibition. We must admit that our income is not enough for our expenses in the long term, said Rusnok. According to analysts, inflation in the summer will remain around three percent, the uncertainty is the easing. The economic decline in the first quarter was milder than the Czech National Bank estimated in the forecast. The Pardubice refinery Paramo ended last year with a loss of 687 million crowns.

Stock exchanges: The price of copper has reached a record, a ton is worth more than $10,300. Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London. The price of gold fell below $1,800 per ounce in response to the Fed meeting. The American manufacturer of electric motors without precious metals received 225 million USD. The price of gold fell below 1800 dollars per ounce in response to the Fed meeting. According to analysts, the price of palladium may soon rise to more than 3000 USD.

Finance: The four largest banks in the Czech Republic lost one billion CZK in profits in the first quarter. Index: The average mortgage rate returned to above two percent in May. ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion CZK last year. The South Korean central bank wants to test the introduction of its own digital currency. Golden Gate CZ's revenues increased by 47 percent this year to 1.28 billion CZK. The EU has launched a bond sale plan with which it wants to overcome the impacts of the pandemic. Tykač's Belviport increased its stake in Moneta Money Bank to above three percent. ECB: Eurozone residents stocked up on cash during the pandemic. Tkáč will make joint investments with Křetínský in the new J&T Capital Partners. PPF wants to acquire 100 percent of the operator O2, currently controls 83.58 percent. The Czech National Bank will publish bank stress tests today and evaluate mortgage measures. Gold rose to its highest level this year today, the price rose by five percent in a month. The Norwegian government wants to ensure that banks continue to provide cash services. The volume of housing loans amounted to CZK 29 billion in April, the second highest. Index: The average Czech investor in funds earned 5.5 percent this year. Golden Gate CZ's revenues increased by 29 percent in the first half of 2021 to CZK 2.57 billion. Citigroup and Bank of America sharply increased profits thanks to the release of reserves. The banking sector is resilient even after the pandemic, according to the Czech National Bank's stress tests. The US central bank left interest rates unchanged, considering reducing support. The British central bank did not change monetary policy despite inflation. Austria's Erste, which owns Česká spořitelna, tripled its quarterly profit. The volume of bank loans fell by 11 billion in March to 6.25 trillion CZK. The volume of bank loans fell by 56 billion in April to 6.515 trillion CZK. Indian digital payments provider Paytm is preparing a record share offering.