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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. Inflation in the US fell to a two-year low of 4.9 percent in April. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. Analysts: Foreign trade was affected by energy prices and the recovery in the auto industry. The Senate wants rules on conflict of interest directly in the Public Procurement Act. The US House of Representatives has approved a law that suspends the debt ceiling. Foreign investment in Germany is stable, but may be threatened by incentives from the US. Supporters of rate increases in the CNB argued that the economy is cooling down slightly. France will allocate half a billion euros annually for tax breaks for so-called green investments. Fiala agreed with Governor Michl on the need to continue the fight against inflation. Unemployment in the Czech Republic continued to fall, by a tenth of a point to 3.6 percent in April. The European Commission improved its estimate of Czech economic growth, inflation significantly higher. The S&P agency left Slovakia's rating at A+, but changed the outlook to stable. CNB: Czech households' debts to banks rose to 2.19 trillion crowns in April. Year-on-year inflation slowed to 12.7 percent in April, food prices became cheaper month-on-month. The General Meeting of the Confederation of Industry today elected the new president, Jan Rafaj. Investor confidence in the eurozone economies unexpectedly returned to decline in May. IMF: German economic growth will hover around zero this year, then accelerate. PPF Group's net profit fell by 49 percent last year to 3.36 billion CZK. The Confederation of Employers criticizes adjustments to work agreements or benefits. According to the head of the Bundesbank, the eurozone has not yet won the fight against high inflation. The Czech Republic is entering a wage-inflation spiral, says CNB Bank Board member Holub. Kofola is shocked by the proposal to increase VAT to 21 percent, the director said. B&B Profit in the Czech Republic offers the opportunity to invest without a permit, the CNB said. Michl: Year-on-year inflation should fall below ten percent within three months. According to scientists, the future of production is artificial intelligence and virtual reality. The limit for small-scale contracts will not be increased, the Chamber of Deputies overruled the Senate. The CNB fined Fair Credit Czech loan provider three million crowns. PwC: The market value of the most valuable companies fell the most since 2009. The Czech economy fell by 0.4 percent in the first quarter. The National Audit Office: More than CZK 48 billion paid as compensation for Covid fulfilled its purpose. Businessmen elected Zdeněk Zajíček as president of the Chamber of Commerce of the Czech Republic at the parliament.

Stock exchanges: Glencore plans to invest 1.5 billion USD in expanding a copper mine in Peru. Central banks are buying gold in record volumes, there is also interest in the Czech Republic. Newmont is close to an agreement to take over competitor Newcrest for 29.4 billion AUD. Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market. Fiala: The draft law on corporate transformations is general, it does not concern a specific company.

Finance: France has issued an international arrest warrant for the long-time head of the central bank of Lebanon. Analysis: The number of Czechs saving has increased by a third in the past year. Commerzbank, thanks to higher interest rates, has doubled its net profit in the quarter. Credit Suisse to pay nearly $1 billion to ex-Georgian prime minister. Survey: 12 percent of Czechs have saved ten times their monthly household income. Donor states pledge $2.4 billion to help Africa fight hunger. Index: Most mutual funds made profits for investors in April. European Commission approves deal between UBS and Credit Suisse, Reuters sources say.