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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 Ministry of Culture will support cooperation between designers and businesses. In Slovakia, the number of personal bankruptcies increased by almost 12 percent last year. Domestic start-ups attracted investments worth tens of billions of CZK last year. The IMF does not expect the outlook for the global economy to worsen, the head of the fund said. Lagarde: The economic prospects of the eurozone have improved despite high inflation. Further rate increases in the US may throw stock markets into chaos, the investor believes. The Senate committee did not support breaking banking secrecy due to the OLAF investigation. CZK 108 billion was paid out from the IROP program in the ending period, 72 pct of the total amount. The inflation rate in Argentina exceeded 94 percent, the fifth highest in the world. Argentine opposition politician calls for Maduro's arrest if he comes to the CELAC summit. Hot tub manufacturer USSPA's profit after tax fell to CZK 13 million last year, sales rose. The budget had a deficit of CZK 360.4 billion, state debt rose to CZK 2.895 trillion. UniCredit Bank was fined CZK 10 million by the Czech National Bank for violating mortgage rules. PwC: 73 percent of CEOs expect a global economic downturn this year. The Czech Republic is the only EU country whose state debt increased in the third quarter of last year. Study: Three times more sole proprietors closed their businesses in November than usual. Central Bank: The French economy will weaken sharply next year. The Entrepreneur of the Year of the Zlín Region is Tomáš Dudák, CEO of Spur. The rise in the cost of living is what worries EU and Czech residents the most, according to Eurobarometer. The Czech National Bank could raise rates in the event of a large increase in prices in January. Analysts: November's decline in construction production does not indicate a crisis in the sector. According to the IMF chief, global economic growth should rebound from the bottom this year. Analysts: Industry grew the least since July in November, thanks only to car production. The Swiss Central Bank reported a record loss of 132 billion francs. After two years, the government's agenda was not dominated by Covid, but by the Russian invasion. Allianz Trade: Global economic growth could accelerate next year. Business activity in the eurozone fell less than expected in December. The World Economic Forum meeting will have a record attendance this year.

Stock markets: Analysts: A gas price cap could worsen the energy crisis. The price of gold rose to a six-month high. Bloomberg: Tesla is preparing to conclude a preliminary agreement to build a plant in Indonesia. BASF and Eramet plan a nickel and cobalt processing plant in Indonesia. 2023 will be a difficult year for investing, analysts recommend bonds or gold.

Finance: Goldman Sachs and Morgan Stanley's quarterly profit fell significantly. Banks: The share of problematic bank loans to households fell further. ČSOB: Banks provided mortgages for CZK 163 billion last year, 40 percent of the volume in 2021. JPMorgan and Bank of America increased profits, but Citigroup's profit fell. WHO needs $ 2.54 billion this year, facing a large number of crises. Index: The value of all types of mutual funds fell in December. J&T Fund received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. Audit firm Mazars suspends cooperation with crypto clients. Bloomberg: Goldman Sachs plans to lay off around 3,200 employees. Lebanon has promised to pay a debt to the UN to regain voting rights. Former Czech National Bank governor Jiří Rusnok will be an advisor to the Allianz board of directors from February. Jack Ma will no longer control Chinese fintech giant Ant Group.