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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 Pardubice refinery Paramo ended last year with a loss of 687 million crowns. The quarantine in the Chinese port caused a domino effect in global trade. The number of exchange offices in the Czech Republic decreased again last year, and there were also fewer client complaints. Chamber: The influx of Czech investments into France is growing, the main investor is Křetínský. Britain is considering its own digital currency, which could be called britcoin. The European Central Bank has taken the first step towards launching a digital euro. The Moser glassworks is again producing film globes, has a new store and exhibition. Analysts: Inflation will rise further in the coming months. Year-on-year inflation rose to 2.3 percent in March, remaining above two percent. According to analysts, inflation will remain around three percent in the near future. The Indian central bank discourages credit institutions from trading in cryptocurrencies. The Czech National Bank will end the validity of older banknote designs from 1995 to 1999 in a year. Household debts to banks increased by 13 billion in April, and those of companies by 5.5 billion CZK. Bisnode: The number of unreliable VAT payers in the quarter increased at least in seven years.

Stock exchanges: Russia discovered one of the three largest reserves of precious metals in the world. The world's third largest diamond was probably mined in Botswana. Another investor will enter the manganese mining project near Chvaletic. According to analysts, the price of palladium may soon rise to more than 3,000 USD. Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London. The price of gold fell below 1,800 dollars per ounce in response to the Fed meeting.

Finance: The Economic Committee called on the Czech National Bank to protect life insurance clients. CNBC: Morgan Stanley will allow investments in bitcoin. The British central bank did not change its monetary policy despite inflation. PPF wants to acquire 100 percent of the operator O2, now controls 83.58 pct.. The volume of bank loans in April fell by 56 billion to 6.515 trillion CZK. The South Korean central bank wants to test the introduction of its own digital currency. The volume of bank loans in March fell by 11 billion to 6.25 trillion CZK. Minister: Russia will remove dollar assets from its state investment fund. The Turkish central bank raised the interest rate to 19 percent. ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion CZK last year. Komerční banka's profit fell by 24.9 percent year-on-year to CZK 2 billion in the first quarter. Israeli brokerage eToro will enter the US stock exchange. The Hungarian central bank has increased the base interest rate, the first in the EU since the pandemic. The volume of housing loans amounted to CZK 29 billion in April, the second highest. Czech companies issued corporate bonds in the first quarter, as in 2020. The US central bank left monetary policy unchanged. Czech companies' deposits exceeded loans by CZK 99 billion in February. Citigroup and Bank of America sharply increased profits thanks to the release of reserves. Tkáč will make joint investments with Křetínský in the new J&T Capital Partners. Mastercard: Biometric payment verification is used by half of Czechs. Indian digital payment provider Paytm is preparing a record-breaking share offering. Tykač's Belviport increased its stake in Moneta Money Bank to over three percent. Entrepreneurs received CZK 60.7 billion from COVID guarantee programs as of June 30. The four largest banks in the Czech Republic lost CZK 1 billion in profits in the first quarter. CNB Governor Rusnok earned CZK 4.2 million net last year.