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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: Síkela: There is enough money for the energy transformation, states must focus on projects. The Konzum Ústí nad Orlicí cooperative slightly increased its profit to 24 million crowns last year. The British central bank begins temporarily unlimited purchases of government bonds. Foreign investors hold 27.1 percent of Czech government bonds. The Swedish central bank has increased the main interest rate the most since 1992. The British central bank begins temporarily unlimited purchases of government bonds. Foxconn CZ ended last year with a loss of 282 million CZK, sales fell to 78 billion CZK. CNB: Banks' net profit rose by 23.6 billion CZK in the first half of the year to 54.6 billion CZK. AP: Bakery in Cologne to close after 90 years after significant energy price hike. Survey: 70 percent of Czech companies affected by unavailability of raw materials. According to Vestager, the importance of antitrust authorities is growing in the crisis. Analysts expect the Czech National Bank to maintain its seven percent interest rate. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Agricultural Union: The crisis needs to be addressed even at the cost of high deficits. The Australian central bank raised interest rates to a nine-year high of 2.60 percent. Truss defended the economic plan, which caused the British pound to weaken sharply. In September, 53 corporate bankruptcies were declared in the Czech Republic, the third lowest number this year. Confederation of Industry: Companies need a unified European solution to the energy crisis. According to Schiller, the actual deficit of Stanjur's budget is 470 billion CZK. Nobel laureates have shown the fragility of banks and the need for regulation. Three Americans have won the Nobel Prize in Economics for their research into banks and financial crises. Zeman and local governments welcome the energy price cap, economists expect higher costs. Analyst: The Czech National Bank supported the koruna exchange rate by 59 billion CZK in August, less than in July. The Slovak Central Bank expects the Slovak economy to decline next year. The Polish Central Bank surprisingly left the base interest rate at 6.75 percent. The Ministry of Finance will propose a 60 percent tax on extraordinary profits for banks, refineries and miners. The Fed raised the base interest rate as expected, the rate is the highest since 2008. The British Finance Minister promises that he will be able to restore the confidence of financial markets. The Japanese Central Bank did not change interest rates, promoting an easy monetary policy. MPs will begin to consider the draft state budget for next year. The company of the year in the Karlovy Vary region is a wig seller, the sole trader is a violin maker. World Bank President: Help with energy bills is too expensive for everyone. The CNB Council left the credit market protection rate unchanged today.

Stock exchanges: Expert: The price of gold fell sharply this week to an almost 2.5-year low. Bruegel: European governments have allocated 500 billion euros to help energy consumers.

Finance: Credit Suisse bank has fallen into losses, will increase its capital by four billion CHF. According to sources, the Swiss Credit Suisse is working on a possible capital increase. Lebanese woman was fined and banned from traveling for bank robbery. Sberbank administrator will negotiate the sale of loans exclusively with Česká spořitelna. HN: The renamed company Fair Credit has filed for bankruptcy. The US is establishing a fund to help Afghans, the money will be transferred from frozen accounts. Expobank CZ, which was bought by Banka Creditas, will be renamed Max banka. Credit Suisse shares are falling sharply, having already lost a record 60 percent this year. Komerční banka shareholders will decide on the dividend from November 6 to 21. The British government will cancel almost all planned tax cuts that have worried the markets.