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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: At a conference in Ostrava, entrepreneurs will look for a way out of the economic crisis. One of the biggest fraudsters in Germany received another sentence of more than eight years. Media: The head of the French luxury goods company LVMH is going to China. Congo is about to sign cooperation with China in infrastructure and mineral extraction. Prime Minister Fiala will meet with the Governor of the Czech National Bank Michle and members of the Bank Board today. The economy will grow by 0.3 percent this year, and will accelerate next year, a survey by the Ministry of Finance showed. IMF: German economic growth will be around zero this year, then accelerate. The compromise proposal on the US debt ceiling awaits its first test in Congress. The Czech economy fell by 0.4 percent in the first quarter. Kellnerová is the most influential woman in the Czech Republic, and Pekarová Adamová is now third. The Confederation of Employers criticizes the adjustments to work agreements or benefits. The government package for Moravian-Silesian companies will increase by up to hundreds of millions of CZK. The IMF will slightly improve the estimate of this year's growth of the American economy. The National Audit Office: More than 48 billion CZK paid as compensation for Covid has fulfilled its purpose. PwC: The market value of the most valuable companies has fallen the most since 2009. Comments on the austerity amount concern the distribution of taxes and the annuity of ex-presidents. Kooperativa insurance company paid the most in corporate income tax last year. Entrepreneurs at the parliament elected Zdeněk Zajíček as president of the Chamber of Commerce of the Czech Republic. Fed chief: Risks are more balanced, the June decision on rates is unclear. Presidential advisor: The Senate's involvement in the appointment of the CNB board is being debated at the Castle. The Hungarian Central Bank provides monetary policy easing. Negotiations to avert US default stall, continuation uncertain. According to analysts, the Turkish economy is doing better than expected, the lira continues to fall. Investors are moving to bonds, experts say they are attracted by high yields. CZSO: Traditional culture in the Czech Republic lost more than 3.7 billion crowns during Covid. The Association of Local Governments does not agree with the change in the distribution of tax revenues. Foreign investment in Germany is stable, but may be threatened by incentives from the US. The S&P agency left Slovakia's rating at A+, but changed the outlook to stable. The Czech Republic is entering a wage-inflation spiral, says CNB Bank Board member Holub. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. Study: The average wage in the Czech Republic in euros increased by 9.8 percent this year to 1,683 euros. The General Meeting of the Confederation of Industry today elected the new president of Jan Rafaj. PPF Group's net profit fell by 49 percent last year to CZK 3.36 billion.

Stock exchanges: Glencore plans to invest USD 1.5 billion in expanding a copper mine in Peru. Fiala: The draft law on corporate transformations is general, it does not concern a specific company. 12 people died in a gold mine in Venezuela, which was officially closed a long time ago.

Finance: Commerzbank doubled its net profit in the quarter thanks to higher interest rates. The Czech National Bank has been removing only rules for providing mortgages since July. Donor countries have pledged USD 2.4 billion to help Africa fight hunger. Survey: One fifth of women make independent decisions about household finances and assets. Analysis: The number of Czechs saving has increased by a third in the past year. European Commission approves UBS-Credit Suisse deal, Reuters sources say. Financial crime growing with EU funds payments, says European prosecutor's chief. Credit Suisse to pay nearly $1 billion to ex-Georgian prime minister. AP: Impact of US default would be felt by countries around the world.