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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: EU ceramic companies are looking for a way to survive the strong rise in energy prices. Italian League party leader wants 30 billion euros for companies due to expensive energy. Solomon to submit a package of proposals to reduce the administrative burden to the government. Analysts: August unemployment increase signals an approaching recession. Hungary's central bank raised the base interest rate by a percentage point to 11.75 percent. Analysts: Czechs became poorer in the second quarter at the highest level in the country's history since 1993. In the first round, the Chamber of Deputies supported an increase in this year's deficit to 330 billion CZK. Association: Companies are struggling to survive due to energy prices, immediate government assistance is needed. Inflation in Germany accelerated again in August after two months to 7.9 percent. Analyst: Czech National Bank increased support for the crown to CZK 246 billion in July. China unexpectedly cut interest rates after weak static data for July. Japanese GDP grew by 2.2 percent in the second quarter thanks to private consumption. Síkela: The government will discuss options for a state-owned energy trader on Wednesday. Low river levels threaten Berlin's plans to strengthen energy security. Association: Small rural shops are closing due to expensive energy, the situation will worsen. Prague will give city halls CZK 265.95 million to help families threatened by inflation. The strongest Slovak government movement has proposed raising taxes and introducing a new one. The Turkish central bank shocked financial markets by significantly reducing interest rates. Eurochambres: The energy crisis must also be addressed by capping energy prices. The Ministry of Finance's forecast is optimistic according to the Budget Forecast Committee. The eurozone needs another significant interest rate hike in September, according to one banker. The Icelandic central bank has raised its base rate to a six-year high. Reuters: German bakers are being burned by rising energy prices. ZEW: Investor confidence in the German economy fell in August due to inflation. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced. Germany is preparing another package of inflation relief for its citizens worth 65 billion euros. The Fed has raised its base rate as expected, the rate is the highest since 2008. FT: The European office market faces the biggest test since the financial crisis. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. While Britain is counting change, we are counting victims, said Olena Zelenska. An informal meeting of European finance ministers and governors continues in Prague. Eurozone business activity deepened in August. Austrian: If the EU finds agreement, it could lead to calm in energy markets. Czech National Bank issues silver commemorative coin with the Zátopeks. European finance ministers and governors to meet in Prague on Friday and Saturday. Stanjura: Despite the pandemic and the effects of war, fiscal discipline cannot be neglected.

Stock exchanges: The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt-hour today. European energy prices are falling as the EU plans to intervene in the crisis. Russian company Alrosa is again selling large quantities of diamonds, especially to India. Rio Tinto to buy the remaining stake in Canadian Turquoise Hill for 3.3 billion USD.

Finance: New Hypoindex: The average mortgage rate fell for the first time since May 2021. Media: JPMorgan wants to move from Frankfurt to London due to concerns about electricity shortages. Index: The financial literacy of Czechs has improved slightly this year. A man was freed in Lebanon who forced the payment of money by raiding a bank. Financial institutions paid 716 million crowns more to the Guarantee System year-on-year.