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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: Inflation accelerated to 2.6 percent in September, contributed by rising food prices. Survey: 56 percent of small entrepreneurs considered closing their businesses. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the USA. China's economic growth slowed to 4.6 percent in the quarter, but exceeded estimates. Experts: The Czech economy needs cheaper energy, but it will not get it soon. Czech society has become richer in 35 years, but has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. The Poles are upset that Draghi did not talk to them when writing the report on Europe's lagging behind. CNB: The balance of payments ended in a deficit of CZK 3.7 billion in the second quarter. The Nobel Prize in Economics was awarded to scientists for their research into the impact of institutions on prosperity. A chip development center has started operating in Brno in cooperation with Taiwan. AP: The Olympics were a success for Paris, but a disaster for some businesses. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. China has invested over USD 100 billion in clean energy abroad since 2023. Study: Thanks to production at Třinecké železárny, the state has earned CZK 54 billion in 14 years. Analysts expect another CNB interest rate cut, probably to 4.25 percent. The CNB has lowered the interest rate to 4.25 percent, a decision made by six board members. The CNB plans to increase the share of stocks in foreign exchange reserves, strengthening the share of American ones. The presentation of the scientific Nobel Prizes will begin on Monday, the APA has 22 favorites. The WTO has improved its estimate of this year's growth in world trade in goods to 2.7 percent. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected.

Stock markets: Rio Tinto will buy Arcadium for 6.7 billion USD, it will be a key lithium miner. Economist: Gold investors have earned around ten percent in real terms since Covid. Thyssenkrupp is reassessing plans for the production of so-called green steel. Mining giant Rio Tinto is negotiating the takeover of lithium miner Arcadium.

Finance: Partners Bank has 70,000 clients in six months, more than other new banks. Index: The average Czech investor in funds earned 8.65 percent this year. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. The Chinese central bank has cut interest rates, will consider further support by the end of the year. Survey: 14 percent of Czechs have no financial reserves. Hypomonitor: The volume of mortgages in September fell by 8.1 billion to 24.2 billion CZK. UniCredit bought more Commerzbank shares, may be the largest shareholder. According to the head of the City, London lost 40,000 jobs in the financial sector due to Brexit. Allianz Trade: Global economic growth will remain around 2.8 percent until 2026. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. Survey: Two-thirds of the Czech population does not know what a long-term investment product is. The Japanese central bank left interest rates unchanged. Expert: If there are no changes in the healthcare system, the availability of care will decrease. Genesis Growth Equity Fund I bought a majority stake in Slovak company TechPlasty. Survey: Almost 70 percent of Czech adults save for retirement somehow. Survey: Two-thirds of Czechs are trying to value their money, 41 percent are investing. Analysis: Banks are reducing interest rates on savings accounts, the highest are around four percent. The British central bank left the base rate at five percent. EU auditors: Budget errors reached 5.6 percent, fraud persists. Study: Fintech companies' revenues rose last year, but market valuations fell.