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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: IMF has worsened the outlook for global economic growth for this year and next. Agency: Investors' interest in commercial real estate in the Czech Republic is growing, by 25 percent last year. The Russian Central Bank surprisingly lowered the base interest rate to eight percent. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. The Argentine Central Bank increased the base interest rate to 69.5 percent. UN: Rising living costs are throwing millions of people into extreme poverty. The anniversary of Tomáš Bata's death will be commemorated in Zlín with exhibitions and Bata publications. China unexpectedly lowered interest rates after weak static data for July. FT: The European office market faces the biggest test since the financial crisis. South Korea's central bank raised interest rates the most since 1999. The introduction of the euro in the Czech Republic is now disadvantageous and unrealistic, agreed Vystrčil and Havlíček. Analysts: In May, the Czech National Bank allocated CZK 86 billion from foreign exchange reserves to defend the crown. The new Czech National Bank Board met for the first time and divided its powers. Analysts: Bad weather threatens the rice harvest, its price may increase inflation. OECD: Global changes to corporate taxes could come into effect in 2024. The Turkish central bank shocked financial markets by significantly reducing interest rates. British companies are turning away from China, says the head of the Confederation of British Industry. Crystal Bohemia glassworks increased turnover to CZK 1.4 billion last year. Central bank chief: German inflation may rise to 10 percent, recession looms. Analysts: Foreign trade deficit deepens imports of expensive raw materials. The ECB's climate stress test showed that banks are at risk of losses of 70 billion euros. Senator Chalánková proposed constitutionally enshrining the right to cash payments. Foreign investors have been reducing the volume of Chinese bonds they hold for five months. Wienerberger and Heluz rely on the amendment on regulatory levels in the gas crisis. Inflation in Turkey rose to 79.6 percent in July, the highest in 24 years. Global corporate debt fell for the first time in eight years. A company from Kyjov in the Hodonín region produces biodegradable material from waste and mycelium. ZEW: Investor confidence in the German economy fell in August due to inflation. CNB: Qubix Investment is not licensed to provide investment services in the Czech Republic. Czech household debt rose by 18.3 billion to 2.102 trillion crowns in June.

Stock exchanges: The price of electricity on the German stock exchange exceeded 500 euros per megawatt hour for the first time. The price of gold is at a more than one-year low, with interest rate movements in the eurozone expected. Oil is up over four percent due to concerns about Russian supplies and a weak dollar. Demand for gold increased by 12 percent in the first half of the year to 2,189 tons.

Finance: Index: The average Czech investor in funds lost 11.6 percent in the first half of the year. Société Générale plunged into losses due to its exit from Russia. Expert: The largest creditor of Sberbank cz is the Financial Market Guarantee System. Mortgage rates rose to five percent, the volume fell by 8 percent month-on-month to 19 billion. Chinese banks are now taking on record debt due to the growth of losses from bad loans. Google Play will allow some developers in Europe to use competing payment systems. Generali's operating profit rose by 4.8 percent thanks to the growth of life insurance. Economists: The decline in the mortgage market will continue in the coming months. Index: Financial literacy of Czechs improved slightly this year. Mortgage rates rose to 5.4 percent, the volume fell by more than a third month-on-month. A man was freed in Lebanon who forced a bank robbery to pay off his debts.