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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: Analysts: Global IT system outage dealt another blow to supply chains. Czech Republic's foreign trade surplus in June was CZK 29.3 billion, up year-on-year. Analysts: Trade sales in June exceeded market estimates, but recovery is gradual. Czech National Bank cuts interest rate to 4.5 percent, worsens economic outlook. Exports from Germany accelerated decline in June, but industrial production increased. Study: Number of entrepreneurs in the Czech Republic is decreasing, down 4,041 in the first half of the year. Analysts: June's foreign trade surplus significantly exceeded market estimates. The volume of wealth per person increased the most in Turkey, despite inflation. CZSO: Industry and construction continued to decline year-on-year in June, trade remained in the black. Analysts: The August deterioration in sentiment among companies and consumers is disappointing. Moody's: The largest number of Russian-owned companies in the EU is registered in the Czech Republic. Study: Companies have lost the ability to come up with real innovations. Czech industry continues to decline, falling by 3.4 percent year-on-year in June. China's economic growth slowed in the second quarter, falling short of analysts' estimates. Sentix: Investor confidence in the eurozone economy fell again, it is the lowest since January. The budget deficit will be a maximum of CZK 231 billion next year, the state will not abolish the windfall tax. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling.

Stock exchanges: The Czech National Bank bought almost six tons of gold in the second quarter, holding 41.49 tons. The price of gold is at a record high, reaching above USD 2,482 per troy ounce in the morning. Oil prices closed at their lowest levels since mid-June.

Finance: Komerční banka's profit fell by more than a fifth in the first half of the year to CZK 6.3 billion. The British central bank lowered the base interest rate by a quarter of a point to five percent. Czech banks were not affected by the outage, and the stock exchange and nuclear power plants were also unaffected. UniCredit Bank: The disadvantage of investing in residential real estate has decreased. The Chinese central bank surprisingly lowered the base interest rate to 1.70 percent. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. In the first half of the year, 4.12 million people had supplementary pension insurance, 100,000 fewer than last year. Of the commodities on the markets this year, gold and cocoa became more expensive, while cotton and wheat became cheaper. The Office for the Protection of Consumer Rights has authorized SAB Financial Group to purchase a controlling stake in Trinity Bank. Fitch has downgraded Israel's rating due to increased tension in the Middle East. Sky News: Who will pay for the worst IT outage in the world? Analysts: The most advantageous investments include funds with quality bonds. The Russian Central Bank has increased the base interest rate by two percentage points to 18 percent. The Banking Association has worsened this year's economic outlook, expecting growth of 0.9 percent. Global outage affected 8.5 million Windows devices, Microsoft estimated. Registry: Czech debt rose by 6.7 percent in the 2nd quarter to 3.44 trillion CZK. Banks provided mortgages for 23.8 billion CZK in July, 109 percent more year-on-year. As expected, the ECB left the base interest rate at 4.25 percent. China reduced another key interest rate in an effort to support the economy. Česká spořitelna's net profit in the 1st half of the year rose by a third to 12.4 billion CZK. Investors will buy back part of Revolut shares, valuing the company at 45 billion dollars. China has reduced two base interest rates, wants to stimulate the economy.