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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: The Slovak economy grew by double digits after the previous decline. The Indian economy is in recession for the first time in history due to the coronavirus. Bain: Sales of luxury goods will fall by a record this year. According to Berlin, Europe must maintain data independence. The koruna strengthened to CZK 26.27 against the euro, reacting to tax changes. Business activity in the eurozone fell sharply due to the closures. Bisnode: 20,000 people started businesses with a trade license this year. The Turkish economy returned to strong growth, exceeding estimates. A record 314,000 people lost their jobs in Britain in the quarter. The Czech economy slowed its year-on-year decline in the third quarter. Coface: The Czech Republic has 78 representatives in the ranking of the 500 largest companies in the region. The Czech Republic is among the countries coping with the coronavirus the worst. CRIF: The Czech Republic will see the fewest new companies created this year since 2014. The Japanese economy has emerged from recession, growing at its fastest pace since 1980. Prices in Japan have fallen the most in a decade, deflation is at risk. BDO: Three-quarters of companies have no protection against online threats. Consumer confidence in Britain has fallen to a six-month low. 83 percent of companies have felt the negative consequences of the epidemic, Ipsos found. Inflation in the EU has risen slightly again, and in the eurozone it has fallen again.

Stock exchanges: Gold miner Endeavour will buy competitor Terango for $2 billion. The price of gold has fallen below $1,800, the lowest in almost five months.

Finance: RegioJet received a loan guarantee of 375 million crowns. In an alternative estimate, the Czech National Bank expects GDP to decline next year as well. Raiffeisenbank's net profit fell by 53 percent this year to 1.7 billion CZK. Association: Non-banking companies provided 18 percent less money this year. ČMZRB approved support of 47 billion CZK by October, more than in two years. Survey: Czechs are behaving more responsibly in relation to loans. The Czech National Bank left the reserve for protecting the credit market at 0.5 percent. Goldman Sachs will employ more women in senior positions. Czech household debts with banks rose to 1.842 trillion in October. ECB: Bank profits will remain weak for now, restructuring is needed. The Turkish central bank significantly increased the base interest rate. Golden Gate CZ's revenue increased by 110 percent to three billion CZK. Interest in EU bonds to address the impacts of the coronavirus crisis persists. Spanish bank BBVA will sell PNC's US activities for 11.6 billion USD. Partners: Average October performance of mutual funds was negative. Reuters: Spanish bank Santander will cut 4,000 jobs. The Ministry of Finance called on non-bank loan providers to help clients. FSB Committee: JP Morgan is no longer the most important bank in the system. Goldman Sachs will establish a headquarters for equity trading in Paris. According to the analysis, the risk for Slovak banks is loan defaults. According to the CNB, the banking sector has maintained its resilience even during the pandemic. NERV wants to initiate the establishment of a national development bank in the future. Euler Hermes: The pandemic has negatively affected 54 percent of European companies. Half of Czechs would provide their birth number or ID card online.