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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 Czech Republic's foreign trade showed a surplus of CZK 13.6 billion in May, higher year-on-year. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Sentix: Investor confidence in the eurozone economy has fallen again, it is the lowest since January. Analysts: The global IT systems outage has dealt another blow to supply chains. Germany is still at risk of a gas shortage due to extreme cold, the INES association warned. The Czech Republic's foreign trade showed a surplus of CZK 29.3 billion in June, higher year-on-year. Satisfaction with the standard of living of households is greater than with the country's economic situation. Study: Number of entrepreneurs in the Czech Republic is decreasing, there were 4,041 fewer in the first half of the year. Unemployment remained at 3.6 percent in June, analysts expect gradual growth. The Czech National Bank cut the interest rate by half a point to 4.75 percent, the crown weakened. Analysts: June's reduction in inflation to the CNB's target is surprising, the crown weakened. The Czech National Bank cut the interest rate to 4.5 percent, worsening the economic outlook. The Czech National Bank: Czech households' debts to banks rose to 2.293 trillion CZK in May. Analysts expect June inflation to be close to May's 2.6 percent. Analysts: June's slump in construction points to a major problem in the sector. Study: Companies have lost the ability to come up with real innovations. Czech industry is still in a slump, falling by 3.4 percent year-on-year in June. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago.

Stock exchanges: The price of gold is at a record high, reaching above 2,482 USD per troy ounce in the morning. The producers of aluminum containers Ball Aerosol in Velim saw their profit rise to 566 million CZK last year. BHP and Ludnin are buying copper miner Filo for 4.5 billion Canadian dollars.

Finance: Creditas bought an office building project in Prague's Karlín from Sekyra Group. The Chinese central bank surprisingly lowered the base interest rate to 1.70 percent. CNB: Banks' net profit rose by 22 percent to 25.9 billion CZK in the first quarter. Commercial bank's profit fell by more than a fifth to CZK 6.3 billion in the first half of the year. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. Banks provided mortgages worth CZK 24.2 billion in June, the most since March 2022. American bank Goldman Sachs more than doubled its profit in the second quarter. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. The ECB, as expected, left the base interest rate at 4.25 percent. The financial literacy of Czechs has not changed according to the Czech Banking Association index. The Japanese central bank raised the base rate to 0.25 percent. China, in an effort to support the economy, cut another key interest rate. Česká spořitelna's net profit rose by a third to CZK 12.4 billion in the first half of the year. UniCredit Bank: Wealth is concentrated in men's accounts. KB signed a memorandum aimed at buying out the remaining stake in SGEF CR.. Analysis: Banks are reducing savings account interest rates, the highest is mostly below five percent. Commodity prices on the markets increased in the first half of the year, the index added three percent. JPMorgan Chase significantly increased its profit in the quarter, Wells Fargo bank fell. Analysis: Banks are reducing savings account interest rates, the highest is already below six percent. The global outage affected 8.5 million Windows devices, Microsoft estimated. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates. Creditas bank acquired more than a 50 percent stake in NEY savings cooperative. The Bank of England reduced the base rate by a quarter of a point to five percent.