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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: Dina-Hitex: Resumption of mask production was an ethical obligation. Analysts: Inflation will rise further in the coming months. The Ministry of Finance sold bonds for CZK 21 billion today amid strong interest. Union: Ensuring mandatory testing will be challenging for small businesses. The Czech National Bank raised rates today for the first time since February 2020, and will continue to do so. According to analysts, inflation will remain around three percent in the summer, with the easing being the uncertainty. 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, with interest being greater. Household debts to banks increased by CZK 13 billion in April, and those of businesses by CZK 5.5 billion. Year-on-year inflation in February is likely to have increased slightly, according to estimates. The economic decline in the first quarter was milder than the Czech National Bank estimated in its forecast. Central Bank: Russia's GDP will be at pre-crisis level by the end of the year. Lithium extraction technology is being tested at a cement plant near Lovosice.

Stock exchanges: Diamond producer Alrosa's profit fell by 49 percent last year. The price of gold accelerated the decline, and developments in Turkey also have an impact. The price of palladium exceeded $3,000 per ounce for the first time. Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London. The US will impose final anti-dumping duties on aluminum from 18 countries. The world's third-largest diamond was probably mined in Botswana. Another investor will join the manganese mining project near Chvaletici. Czech Statistical Office: Prices of raw materials and mineral fuels rose by tens of percent year-on-year in April. Iridium prices surge 160 percent due to tight supplies. Tesla to be technical partner for New Caledonia nickel mine.

Finance: ECB: Eurozone residents stock up on cash during pandemic. South Korea's central bank wants to test its own digital currency. Housing loans totaled CZK 29 billion in April, the second highest. Turkey's central bank raised interest rates to 19 percent. Entrepreneurs received CZK 56.2 billion from COVID guarantee programs as of May 31. The Czech National Bank will publish bank stress tests today and evaluate mortgage measures. Hungary's central bank has increased its base interest rate, the first in the EU since the pandemic. Golden Gate CZ's revenue this year increased by 47 percent to CZK 1.28 billion. Indian digital payments provider Paytm is preparing a record share offering. Visa will buy open banking platform Tink for 1.8 billion euros. CNB Governor Rusnok earned 4.2 million CZK net last year. The Norwegian government wants to ensure that banks continue to provide cash services. Almost a fifth of Czechs pay with their mobile phones, but they do not want to give up cash. Developer Sekyra Group is offering bonds for up to half a billion crowns. According to the CNB's stress tests, the banking sector is resilient even after the pandemic. Gold rose to its highest price this year today, up five percent in a month. Index: The average mortgage rate returned above two percent in May. Germany linked blockchain technology to the euro. Venezuela will introduce a million-dollar banknote due to hyperinflation. Minister: Russia will remove dollar assets from its state investment fund. Large American banks have passed the stress test, they no longer have to cut dividends. The price of gold has risen by 14 percent in the year of the pandemic, and oil has also become more expensive.