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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: Construction is declining, trade remains in deficit, industry is growing only thanks to a weak last year. Michl: The base interest rate is already at a level that dampens economic activity. Atomico: The value of European technology companies has fallen by 400 billion USD this year. Analysts: The situation on the labor market is worsening, unemployment will slowly increase. The Turkish central bank has cut interest rates to nine percent despite high inflation. IMF mission: The Czech economy will decline by about half a percent next year. Lasselsberger will sell 27 million m2 of ceramic tiles this year, i.e. less than last year. Nomura: The Czech Republic, Hungary and Romania face the risk of a currency crisis. Sokolovská uhelná considers the tax on extraordinary profits to be unfair. Activity in the US manufacturing sector fell for the first time in two and a half 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. Survey: German companies expect only a slight recession in the German economy. Survey: Almost half of Poles intend to limit spending on Christmas gifts this year. Study: Czech companies will invest CZK 61 billion in digitalization in three years. Further rate increases in the US could throw stock markets into chaos, according to an investor. Fiala: A combination of nuclear and renewable energy is the only truly safe scenario for the Czech Republic. The European Commission has approved Czech government aid to companies affected by rising energy prices. Study: In October, the number of corporate bankruptcies fell, while business bankruptcies rose. The Ministry of Finance and the Czech National Bank recommend that the government not set a date for adopting the euro yet. Economists: Eurozone faces significant economic recession, recovery will be slow. The Polish central bank left the base rate at 6.75 percent. The House of Representatives approved the budget for next year with a deficit of 295 billion crowns. German economic experts expect a milder recession next year than the government. Survey: German companies plan to expand activities in Africa next year. Survey: One in four Europeans say their financial situation is uncertain. Bloomberg: Falling property prices in Sweden may deepen the economic crisis. The Czech National Bank spent 79 million euros on interventions in October, the least in the intervention period. The Confederation of German Industry called for a one-year postponement of global corporate taxation. The Australian Reserve Bank raised interest rates to a ten-year high of 3.10 percent.

Stock exchanges: Kovohutě Příbram has built a pilot line for recycling lithium batteries. Bloomberg: India is the main driver of the steel industry thanks to construction. The price of gold has reached a six-month high. Analysts: The gas price cap may worsen the energy crisis. Analyst: Gas and coal have increased in price by tens of percent this year, precious metals have become cheaper. Traders: Czechs are selling their savings in precious metals more often.

Finance: The J&T fund has received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. McLaren has sold part of its collection of vintage cars to raise money for Arturo's new supercar. Audit firm Mazars has suspended cooperation with clients from the crypto world. Survey: Czechs are keeping less and less cash at home. Home Credit sells assets in the Philippines and Indonesia for almost CZK 15 billion. Komerční banka shareholders approve dividend of CZK 55.50 per share before tax. US cryptocurrency firm BlockFi files for bankruptcy protection. Supplementary pension savings increased by 136,000 people this year to 1.6 million. Cryptocurrency firm Nexo to end its activities in the US.