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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: Reuters: Beijing urged state refiners to consider halting exports in April. Shipping company Maersk seeks to get 50,000 containers from Russia. Sentix: Investor confidence in eurozone economy plunges due to Ukraine war. Biden: G7 to revoke Russia's most-favoured-nation status, US to limit imports from Russia. IMF: Russian attack on Ukraine could fundamentally change global economic order. Stock markets continue to lose ground, oil and other commodity prices rise sharply. Czech inflation could rise to around 13-14 percent, Rusnok said. Japan revised GDP growth for the fourth quarter downwards to 4.6 percent. IMF approves $1.4 billion in emergency aid to Ukraine. China wants to boost its economy by cutting taxes and other levies. Analysts: Polish proposal to ban trade with Russia will have a hard time passing in the EU. US foreign trade deficit widened by 9.4 pct. in January to a record. Analysts: The war in Ukraine will hit the slowly recovering Czech industry. Stanjura: Companies could keep accounting and tax records in euros from January 2024. US inflation rose to 7.9 percent in February, another high in 40 years. Other companies, including Philip Morris and Nestlé, are restricting their activities in Russia. EU adds another 160 Russians to sanctions list, punishes Belarusian banks. Britain will ban the export of luxury goods to Russia and impose new import duties. Kiev: Russian invasion has caused at least $100 billion in damage so far.

Stock markets: The price of palladium has fallen sharply due to hopes of progress in Russia-Ukraine talks. According to officials, India is considering buying discounted Russian oil and commodities. Economic newspaper: The Germans are also preparing to mine lithium in the Ore Mountains. The price of gold has exceeded $2,000 per troy ounce for the first time in a year and a half. Analyst: The Ukrainian crisis may derail Musk's dream of cheaper electric cars. The wholesale price of gas for the European market fell by 70 percent in a week.

Finance: S&P has significantly worsened the credit rating of Belarus. Reuters: Russia will probably look for replacements for the SWIFT system, alternatives will be expensive. The Russian Central Bank introduces a ceiling on withdrawals from foreign exchange accounts. ECB to cut bond purchases faster due to high inflation. Visa and Mastercard to end operations in Russia. Analysts: Czech banks' share prices fall due to anti-Russian sanctions. RTR: Some lenders received interest payments on Russia's dollar bonds. CBA: Mortgage volume fell by 23 percent in February to CZK 25.1 billion, rates rose. Russian banks are turning to the Chinese system due to the departure of Visa and Mastercard. ČSOB was fined by the Czech National Bank, it failed to launch secure payments on the web in time. Russia sent interest on dollar bonds as planned, awaiting the result. Bloomberg: EU is considering supporting Ukraine from the assets of sanctioned Russians. World Bank approves loans and grants to Ukraine for $723 million. ECB to cut bond purchases faster due to high inflation. Orbán asks for money from the EU recovery fund, argues with the Ukrainian crisis. The invasion of Russian troops in Ukraine has interrupted about a third of economic activity. Reuters: Moscow and Beijing are working on how to bypass the SWIFT payment system. Expobank CZ will be owned by a consortium of Signet Bank AS and American investors. Russia warns that it will be forced to repay foreign debt in rubles due to sanctions. Thousands of Russians are stranded in Thai resorts due to the war in Ukraine.