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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: CRIF: There are 24,000 companies in the Czech Republic that are unreliable in paying VAT. According to institutes, the recovery of the German economy is slowing down. Reuters: Interest in special EU bonds is at a record high. Economists: Auctions are common thanks to the new Nobel Prize laureates. Survey: Most smaller companies in Europe have existential fears. BR Group's operations are complicated by Covid-19, but production is being ensured. Survey: More than a quarter of companies do not have deferred payments. Growth in business activity in the eurozone has stopped due to the virus. Confidence in the German economy has deteriorated due to the virus and Brexit. Moravian-Silesian companies do not plan to close operations due to coronavirus. Ministry of Education, Youth and Sports: The Czech Republic will gain access to one of the fastest computers in the world. Analysts: The second wave of the pandemic has stopped the recovery from the 3rd quarter. European Innovation Day will focus on technological talents. Think-thank IDEA proposed a tax change that is more budget-friendly. 5,502 applications were submitted for the COVID accommodation program for 2.5 billion CZK. Survey: Half of smaller companies will have to reduce costs. According to analysts, inflation will continue to fall. Switzerland improved its outlook for this year's economic development.

Stock exchanges: In 2021, the price per troy ounce of gold will not exceed 2,000 USD on average. The Polyus company has the largest gold deposit in the world in Siberia.

Finance: According to Rusnok, the financial market has made great progress since the 1990s. American Express credit card issuer's profit fell sharply. The G20 group extended the deferral of repayments for poor countries. Banks are limiting branch opening hours due to coronavirus. HSBC's profit fell by 35 percent to $3.1 billion. Hypoindex: The average mortgage rate fell for the sixth time in a row in September. CNB survey: Banks report tightening lending to companies. Bank loans fell by 120 billion in September to 6.07 trillion CZK. Survey: The interest rate is the most important factor for a savings account. Banks confirmed to the Ministry of Finance their readiness to deal with the deferral of repayments individually. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by 45 percent in three quarters. Bank of America's profit fell, Goldman Sachs almost doubled it. Rusnok: The use of other monetary policy tools is not necessary. CBA: Banks see no reason to renew the deferral of loan repayments. Komerční banka's profit fell by 45 percent to CZK 6.1 billion in three quarters. Russia's largest bank Sberbank sharply increased its quarterly profit. UN: Foreign direct investment fell by 49 percent in the first half of the year. BBC: Visa and Mastercard face accusations of excessive fees. Household debts with banks rose to CZK 1.831 trillion in September. A company from the Bohemia Energy group buys the supplier Energie ČS. The British central bank is considering negative interest rates. Central banks are appealing to governments to continue pumping money. Analyst: The price of gold will be 2.5 times higher by the end of the decade. Hypoteční banka: The mortgage market will reach a record CZK 230 billion this year. Banks: Clients visit branches less, interest in online services is growing.