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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: Agriculturalists: Strengthening of the Czech crown will reduce EU subsidies in real terms. Electricity shortage in China is closing factories, analysts are worsening growth prospects. Producer prices in China rose to a record high in September due to commodity prices. Gasoline and diesel are the most expensive in almost 7 years, according to analysts, the price will continue to rise. Industrial producer prices rose by 9.9 percent year-on-year in September, the most since 1993. According to economists, industrial results indicate a slower economic recovery. Inflation has accelerated significantly again, for example, tomatoes have become more expensive by 60 percent. Investor confidence in the eurozone economy has reached its lowest level in six months. The Nobel Prize in Economics has been awarded to David Card, Joshua Angrist and Guido Imbens. Year-on-year inflation is expected to have stagnated in August. The French central bank has raised its economic growth outlook for this year. El Salvador is set to become the first country to adopt bitcoin as its national currency. The state collected CZK 15 billion more in taxes at the end of September than a year ago. The Czech Republic's foreign trade results for August disappointed analysts' expectations.

Stock exchanges: Carmakers' problems with chips are reducing the prices of platinum group metals. The price of gold rose to a monthly high after the dollar and bond yields weakened. The price of zinc has risen significantly due to production outages, reaching its highest level in 14 years. The world's largest diamond miner has warned that supplies will be limited for several years. A Duchcov-based producer of semi-finished metal products is facing a shortage of material. The price of aluminum is the highest in a decade due to concerns about supplies from China.

Finance: The Czech National Bank has no objections to ČSOB's intention to pay a dividend of CZK 4.1 billion this year. Equity funds earned over 13 percent this year, bond funds lost 0.6 percent. Trinity Bank created double the profit for the entire year 2020 in September. The Czech National Bank will no longer limit the payment of bank dividends across the board. Equity funds earned over 16 percent this year, bond funds lost 0.9 percent. Receivables for Acquisition Capital can be registered until November 1. SAB Finance will pay out CZK 68 million in dividends for the first half of the year. Goldman Sachs' quarterly profit rose sharply, exceeding expectations. The bank will test the use of central bank digital currencies for payment settlements. Lufthansa wants to raise 2.1 billion euros from the sale of shares to repay a state loan. The Russian Central Bank has significantly increased the base interest rate - to 7.5 percent. Banking Association: 11 percent of Czechs are in risky debt this year. The head of the German Central Bank Jens Weidmann is resigning for personal reasons. The British banking company Barclays doubled its quarterly profit. The profits of Citigroup, Morgan Stanley and Bank of America exceeded expectations. According to the ECB Vice President, the eurozone economy is growing faster than expected. Moody's: Islamic bond issues will not grow this year for the first time in five years. European Commissioner Gentiloni warned against tightening monetary policy too soon. The volume of housing loans fell in July, but it is still the third strongest month. Sales of gold and silver in the Czech Republic are growing significantly, at Golden Gate they rose by 22 percent. DER Touristik Eastern Europe solves bankruptcy insurance with bank guarantee. G7 leaders approve principles for central bank digital currencies. High oil prices push Russian sovereign wealth fund's assets to record high. Reuters: China's Evergrande misses bond interest payment deadline. Denmark's central bank slightly cuts interest rates.