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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: Association: Companies are fighting for survival due to energy prices, immediate government assistance is needed. Bartoš: EU cohesion funds can provide money for projects threatened by price increases. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. Low river levels threaten Berlin's plans to strengthen energy security. Business unions: The Czech Republic should not copy German solutions to the energy crisis. Reuters: German bakers are being burned by rising energy prices. According to one of the bankers, the eurozone needs another significant interest rate increase in September. Association: Small rural shops are closing due to expensive energy, the situation will worsen. Zeman and local governments welcome the energy price cap, economists expect higher costs. Síkela: The government will discuss options for a state energy trader on Wednesday. The strongest Slovak government movement has proposed raising taxes and introducing a new one. FT: The European office market faces the biggest test since the financial crisis. Central bank chief: German inflation could rise to 10 percent, recession looms. Analysts: Czechs became poorer in the second quarter at the highest rate in the country's history since 1993. Analyst: The Czech National Bank increased support for the crown to CZK 246 billion in July. Czech household debts to banks rose by CZK 8.4 billion in July to CZK 2.11 trillion. The Czech National Bank Council today left the credit market protection rate unchanged. Matovič: EU finance ministers agreed today on a CZK 5 billion loan for Ukraine. The state and local governments spent CZK 12.6 billion on the refugee crisis at the end of July. Solomon will submit a package of proposals to the government to reduce the administrative burden. Informal meeting of European finance ministers and governors continues in Prague. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising. The Icelandic central bank has raised the base interest rate to a six-year high. Real wages have fallen by 9.8 percent, according to analysts, people have become the poorest since the founding of the Czech Republic. The Swedish central bank has raised the main interest rate the most since 1992. Central bank: Banknotes with the image of the Queen remain legal tender. China unexpectedly reduced interest rates after weak static data for July. Online supermarkets are solving the sale of food in installments, allowing deferred payment. EU ministers will discuss in Prague how to deal with unpredictable events. Eurogroup: Inflation in EU countries is between six and 20 percent, it is necessary to reduce it. The Washington Post: Ukraine is also losing raw materials in the war. The Turkish central bank shocked financial markets by significantly reducing interest rates. Fiala: The Czech Republic and Poland have resumed cooperation on the Stork II gas pipeline. CNBC: Economists differ in their views on the long-term development of the Russian economy. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year.

Stock exchanges: Expert: The price of gold fell sharply this week to an almost 2.5-year low. Russian company Alrosa is again selling large quantities of diamonds, especially to India. European energy prices are falling as the EU plans to intervene in the crisis. Analyst: Gas has become more expensive by 170 percent this year, oil by 30 percent, precious metals have become cheaper.

Finance: Financial institutions have paid 716 million crowns more to the Guarantee System year-on-year. Media: JPMorgan wants to move from Frankfurt to London amid fears of power shortages. Moscow court accepts bankruptcy declaration by Google's Russian division. Economists: Mortgage market slump to continue in coming months. Association: Savings plunge in third quarter. US sets up fund to help Afghans, money to be transferred from frozen accounts.