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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 House of Representatives approved the budget for next year with a deficit of 295 billion crowns. Analysts: Industry grew the least since July in November, thanks only to car production. The IMF does not expect the outlook for the global economy to worsen, the head of the fund said. The first coins with the portrait of King Charles III are being put into circulation in Britain. Chinese imports and exports fell the most in two and a half years in November. Bloomberg: The decline in property prices in Sweden may deepen the economic crisis. Central Bank: The French economy will weaken sharply next year. Activity in the US manufacturing sector fell for the first time in two and a half years. The inflation rate in France surprisingly fell to 5.9 percent in December. The Ministry of Culture will support cooperation between designers and businesses. USSPA hot tub manufacturers' profit after tax fell to CZK 13 million last year, sales rose. Analysts: November's decline in construction production does not indicate a crisis in the industry. Survey: German companies plan to expand activities in Africa next year. Study: The number of corporate and business bankruptcies increased in November. ČSOB analysts: Inflation in the Czech Republic will fall to ten percent in 2023. Study: Czech companies will invest CZK 61 billion in digitalization in three years. Study: Three times more sole proprietors closed their businesses in November than usual. The Chamber of Commerce has published a yearbook for the Karlovy Vary region, mapping its condition. After years of wrangling, Democratic congressmen have published Trump's tax records. The Australian central bank has raised interest rates to a ten-year high of 3.10 percent. Sokolovská uhelná considers the tax on extraordinary profits unfair. In the Czech Republic, the number of bankruptcies of companies and entrepreneurs decreased last year, according to the CRIF study. Creditreform: In Germany, this year, for the first time since 2009, there will be an increase in corporate insolvencies. The population of the EU and the Czech Republic is most concerned about the increase in the cost of living, according to the Eurobarometer. Lasselsberger will sell 27 million m2 of ceramic tiles this year, i.e. less than last year. The Czech National Bank left the limits for providing mortgages unchanged. Economists from Goldman Sachs have improved the outlook for the eurozone, they no longer expect a recession. The Indian central bank has increased the base interest rate to 6.25 percent, worsening the outlook.

Stock exchanges: Bloomberg: Tesla is preparing to conclude a preliminary agreement on the construction of a plant in Indonesia. Kovohutě Příbram wants to use photovoltaics and light heating oils. The price of gas for the European market has fallen below 70 euros per megawatt hour. Kovohutě Příbram has built a pilot line for recycling lithium batteries. Bloomberg: India is the main driver of the steel industry thanks to construction. NWT's creditors have reported claims for almost 1.682 billion crowns. Analyst: Gas and coal have increased in price by tens of percent this year, precious metals have become cheaper.

Finance: J&T fund received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. New York State accuses the founder of crypto-loan company Celsius of fraud. Index: The value of all types of mutual funds fell in December. ČSOB: Banks provided mortgages for 163 billion CZK last year, 40 percent of the volume in 2021. US regulators issued a joint warning to banks about the risks of cryptocurrencies. The trial of the head of the bankrupt financial company Wirecard begins in Germany. Audit firm Mazars has suspended cooperation with clients from the crypto world. Banks: The share of problematic bank loans to households has fallen further. Central banks continued to expand their gold reserves last year. Bloomberg: Goldman Sachs intends to lay off about 3,200 employees.