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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: Prices in Japan have fallen the most in a decade, deflation is at risk. New head of the Czech Competition Authority Petr Mlsna takes office. The Czech Republic is among the countries that are coping with the coronavirus the worst. Activity in Chinese factories grew the fastest in three years. Czechs usually save on energy, companies pay extra for electricity. The koruna strengthened against the euro to CZK 26.27, reacting to tax changes. The Indian economy is in recession for the first time in history due to the coronavirus. Large companies are likely to reduce dividends this year by the most since 2009. Atradius: The world economy will fall by 4.3 percent this year,. A record number of companies specializing in acquisitions have entered the stock market. Consumer confidence in Britain has fallen to a six-month low. The US economy grew at a record pace of 33.1 percent. Deflation in Germany deepened even further in November. Bain: Sales of luxury goods will fall to a record low this year. Analysts: Budget deficit could be below CZK 400 billion. The Turkish economy has returned to strong growth, exceeding estimates. Developer CTP sold green bonds for CZK 10.5 billion. BDO: Three-quarters of companies have no protection against online threats.

Stock exchanges: The price of gold fell to a four-month low of around USD 1,830. Gold miner Endeavour will buy competitor Terango for USD 2 billion.

Finance: Bank loans rose by CZK 198 billion in October to CZK 6.27 trillion. IIF: Global debt will rise to record $277 trillion due to virus. EU sells more special bonds, high interest persists. According to the Czech National Bank, the banking sector has maintained its resilience even during the pandemic. Goldman Sachs will establish a headquarters for equity trading in Paris. Experts: The Czech National Bank has indicated that it is not afraid of further growth in real estate prices. Chinese banks will increase their profits again next year, the Bank of China expects. The Czech Monetary and Financial Council has approved support of CZK 47 billion by October, more than in two years. FSB Committee: JP Morgan is no longer the most important bank in the system. According to the analysis, the risk for Slovak banks is loan defaults. Bloomberg: Banks have already announced the largest layoffs in 5 years this year. Half of Czechs would provide their birth number or ID card online. Reuters: Spanish bank Santander will eliminate 4,000 jobs. The Turkish central bank has significantly increased the base interest rate. Survey: 16 percent of Czechs are not familiar with any investment product. NERV wants to initiate the creation of a national development bank in the future. Analysis: You can pay up to 95,000 more for an annual loan of 50,000 CZK. ÚOHS: Česká spořitelna can buy Sparkasse. ČNB imposed a fine of twenty million CZK on Expobank CZ. Hypoindex: The average mortgage rate in October fell for the seventh time in a row. Goldman Sachs will employ more women in senior positions. US bank profits recovered in the third quarter, but are lower year-on-year. Former World Bank chief James Wolfensohn has died. The Ministry of Finance called on non-bank loan providers to help clients. In an alternative estimate, the CNB expects GDP to decline next year as well.