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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: State debt increased by 96.2 billion crowns in the first half of the year to 3.207 trillion crowns. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Slovakia's trade surplus was at this year's low of 367 million euros in May. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. Analysts: Global IT system outage dealt another blow to supply chains. Analysts: May foreign trade results fell short of market expectations. Analysts: Store sales in June exceeded market estimates, but recovery is gradual. Today is the last day to exchange invalid banknotes with a thin stripe in banks. Czech National Bank cuts interest rate to 4.5 percent, worsens economic outlook. Czech National Bank cuts interest rate by half a point to 4.75 pct., koruna weakens. Unemployment in June remained at 3.6 percent, analysts expect gradual growth. Czech National Bank: Czech household debts to banks rose to CZK 2.293 trillion in May. Germany is still at risk of gas shortages amid extreme cold, the INES association warned. Satisfaction with household living standards is greater than with the country's economic situation. Analysts expect the decline in the CNB's base interest rate to slow down. Coface: Czech companies are among the worst in the region in publishing financial statements.

Stock exchanges: Oil prices closed at their lowest levels since mid-June. The price of gold is at a record high, reaching above USD 2,482 per troy ounce this morning. The verification unit for manganese extraction at Chvaletic is in continuous operation.

Finance: The profit of Russia's Sberbank could be a record again this year, said the CFO. The largest Russian bank, Sberbank, increased its profit in the first half of the year. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates. The Russian Central Bank recommends that companies avoid sanctions using cryptocurrencies. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. The Russian Central Bank increased the base interest rate by two percentage points to 18 percent. Bain Capital will buy financial software supplier Envestnet for 4.5 billion USD. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. The Chinese Central Bank surprisingly reduced the base interest rate to 1.70 percent. The Hungarian central bank has cut the base interest rate to 6.75 percent. The American bank Goldman Sachs more than doubled its profit in the second quarter. UniCredit Bank: Wealth is concentrated in men's accounts. KKCG will issue bonds for at least five billion crowns. The global outage affected 8.5 million Windows devices, Microsoft estimated. Czech banks were not affected by the outage, and the stock exchange and nuclear power plants were also unaffected. China has cut two key interest rates, wanting to stimulate the economy. Moneta Bank's net profit in the first half rose by 9.1 percent to CZK 2.7 billion. Buffett's Berkshire Hathaway increased its profit by 15 percent to USD 11.6 billion. The Swiss central bank has cut the base interest rate by a quarter of a point to 1.25 percent. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. The Bank of England has cut the base interest rate by a quarter of a point to five percent. China has cut another key interest rate in an effort to support the economy. Two members of the Czech National Bank's board disagreed with a new reserve for banks. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. Commodity prices on the markets increased rather in the first half of the year, the index added three percent.