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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: Investor confidence in the eurozone economy is the highest since the start of the war in Ukraine. CNB: Czech Republic's foreign debt rose by 230.6 billion to 4.853 trillion CZK in the first quarter. The World Bank improved the outlook for the global economy. GDP growth in the first quarter by 0.2 percent was below expectations, held back by investments. Satisfaction with the standard of living of households is greater than with the country's economic situation. Today is the last day to exchange invalid banknotes with a thin stripe in banks. Analysis: The Football Euro will help European airlines, hotels and breweries in particular. Study: The average wage in the Czech Republic in euros reached 1,779 euros, growing the least in the V4. Study: There were 22.8 million dollar millionaires last year, the most since 1997. The inflation rate in the US slowed to 3.4 percent in April, as expected. FAZ: UEFA will make a fortune on the football Euro, but the German taxpayer will cry. The Japanese economy unexpectedly fell by two percent in the first quarter. Analysis: Double taxation of dividend income causes millions in losses for investors. Confederation of Industry: The Czech economy needs to tighten up a number of details to recover. IMF warns of the impact of generative artificial intelligence on the labor market. Doosan invests three billion crowns in Pilsen, wants to produce new generators there. Activity in the eurozone business sector slowed significantly in June. There is time until the end of June to exchange invalid banknotes in banks.

Stock exchanges: The price of gas for the European market is close to this year's maximum, exceeding 33 euros per MWh. Saudi Arabia has launched a secondary sale of shares in the oil company Aramco. Commodity prices are generally increasing on the markets this year, their index added 5.5 percent. Norway has discovered Europe's largest rare earth metal deposit. According to the WGC, miners are having trouble maintaining the growth of gold mining. Rio Tinto's lithium mining project in Serbia does not harm the environment, the company claims. Gas for the European market is getting cheaper, the assumption of a shorter shutdown in Norway is helping.

Finance: PPF had a net profit of 1.45 billion euros in 2023, compared to 164 million euros a year earlier. PPF Group CEO Jiří Šmejc ruled out the sale of Air Bank. World Council: The Czech Republic was in fifth place in the world in gold purchases in the first quarter. ČSOB: Prices of apartments, houses and land in the first quarter began to rise slightly after a decline. Analysis: Banks are reducing interest rates on savings accounts, the highest is already below six percent. ČBA: One fifth of Czechs are planning a mortgage, half of them have postponed their application in the past. Banks in the US have passed the Fed's stress tests, they would survive even a sharp decline in real estate. The Hungarian central bank has reduced the base interest rate to seven percent. KKCG will issue bonds for at least five billion crowns. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. Creditas Bank has acquired a more than 50 percent stake in NEY savings cooperative. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. The six largest banks in the Czech Republic have seen their net profit increase by a fifth this year to CZK 17.9 billion. Office for the Protection of Competition: SAB Financial Group is buying a controlling stake in Trinity Bank. The Swiss Central Bank has cut the base interest rate by a quarter of a point to 1.25 percent. Index: Mutual funds generally continued to make profits for investors in May. Capgemini: The number of dollar millionaires in the Czech Republic increased last year, their wealth increased. The European Central Bank will probably lower interest rates. CNB: The number of exchange offices in the country decreased again last year, the situation has improved thanks to inspections. Commodity prices on the markets have rather increased in the first half of the year, the index has added three percent.