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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: Courts declared 341 corporate bankruptcies this year, 41 fewer than a year ago. CNB: Qubix Investment is not licensed to provide investment services in the Czech Republic. Fitch agency downgrades Belarus' foreign currency debt rating to limited default. Analyst: CNB doubled koruna support to CZK 174 billion in June. Rubikonfin receives securities dealer license from CNB. China's economy shrank by 2.6 percent in Q2, more than expected. Global corporate debt fell for the first time in eight years. Government approves 2022 budget amendment with deficit of CZK 330 billion. CNB: Household deposits in banks rose slightly by CZK 3.5 billion in May. Germany reported a foreign trade deficit for the first time since 1991 in May. The IMF has worsened its outlook for global economic growth for this year and next. Millions of rupees were found in the presidential palace during a protest in Sri Lanka. Wienerberger and Heluz rely on the amendment to the regulatory levels in the gas crisis. British companies are turning away from China, says the head of the Confederation of British Industry. Analysts: Bad weather threatens the rice harvest, its price may increase inflation. CNB Governor Michl: Reducing inflation will be a priority. The new CNB Bank Board met for the first time and divided its powers. The anniversary of Tomáš Bata's death will be commemorated in Zlín with exhibitions and Bata publications. The ECB wants to favor ecological companies when purchasing corporate bonds. German opposition leader Merz has proposed a plan against the inflation and energy crisis. Inflation in Turkey rose to 79.6 percent in July, the highest in 24 years. The Czech National Bank left the base interest rate at seven percent, inflation is expected to reach around 20 percent. 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. Germany is debating whether households or companies will bear the burden in the event of a gas outage. Study: The number of personal bankruptcies fell by a tenth in the first half of this year to 7,468. Inflation in Switzerland rose to its highest level in June in 29 years. Foreign investors have been reducing their holdings of Chinese bonds for five months now. Fitch downgraded the rating of global sovereign debt. The Polish central bank raised the base interest rate to 6.5 percent. Australia raised its main interest rate by half a percentage point.

Stock markets: Gazprom will not pay dividends for the first time since 1998, the company's shares have weakened sharply. The price of gold is at a more than one-year low, interest rate movements in the eurozone are awaited. Analysts: Commodities have been falling in price recently, but have risen significantly this year. Analyst: The price of gold in dollar terms is at this year's low. Oil adds over four percent due to concerns about Russian supplies and a weak dollar.

Finance: The largest Swiss bank UBS increased its quarterly profit, but it fell short of estimates. The EU is preparing to expand sanctions against Sberbank, and also wants to punish the Night Wolves. Bank of America and Goldman Sachs have lower profits, investments have not been successful. Expert: The largest creditor of Sberbank cz is the Financial Market Guarantee System. Generali's operating profit rose by 4.8 percent thanks to growth in life insurance. Google Play will allow some developers in Europe to use competing payment systems. Chinese banks are now taking on record debt due to rising losses from bad loans. PPF's 2021 annual report focuses on business and non-profit activities. Mortgage rates rose by five percent, volume fell by 8 percent month-on-month to 19 billion.