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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: According to analysts, inflation will continue to fall. The Slovak Central Bank improved the economic outlook. The production of a wood processing sawmill in Štětí was ceremonially launched. Foxconn CZ's profit decreased by 120 million to 658 million crowns last year. SB: Coronavirus may plunge 150 million people into extreme poverty. Survey: Half of smaller companies will have to cut costs. Moravian-Silesian companies do not plan to close operations due to coronavirus. The decline in Japanese exports slowed significantly in September. CRIF: There are 24,000 companies in the Czech Republic that are unreliable in paying VAT. The EBRD expects a more significant economic decline in the countries where it operates. The decline in the US economy was milder in the quarter than expected. Survey: Most smaller companies in Europe have existential fears. The value of cryptocurrency mergers in the first half of the year exceeded that of the entire year of 2019. The British economy grew less than expected in August. Epiq: The number of corporate bankruptcies in the US has increased by a third so far this year. France's Vinci offers 5.2 billion euros for part of Spain's ACS. BR Group's operations are complicated by Covid-19, but production is being ensured. Exporters expect a loss of exports of 300 to 500 billion due to Covid.

Stock exchanges: Metal processor Saker's sales fell to 2.321 billion CZK last year. Construction material supplies fell by up to 30 percent, miners report. In 2021, the price per troy ounce of gold will not exceed 2,000 USD on average.

Finance: Almost two-thirds of Czechs actively use modern payment methods. The G20 group has extended the moratorium on payments for poor countries. Airlines in the US will cancel more than 30,000 seats without further state aid. Arca Capital is completing preparations for the entry of a strategic partner. The World Bank will provide $12 billion for a vaccine for developing countries. Association: Interest in moratorium on payments is declining, Czechs are starting to pay off loans. The ECB is intensifying work on the digital euro. Bubenik Partners: Changes in company management take into account current developments. Arca Capital has agreed on financing with Blantyre Capital. IFIS has filed an insolvency petition against the owner of Arca Capital. The Czech National Bank has revoked the license of the Prague currency exchange Changer. Bank of America's profit fell, Goldman Sachs almost doubled it. KPMG: Household finances are starting to feel the economic slowdown. The Fed has extended restrictions on banks' dividend payments and share buybacks. Household debt with banks rose to 1.819 trillion crowns in August. The largest Saudi Arabian bank will strengthen its position by taking over a competitor. The British central bank is considering negative interest rates. CBA: Banks see no reason to renew the deferral of loan payments. Non-bank credit companies have rules for clients in a moratorium. Survey: 70 percent of Czechs have experience with installment purchases. Central banks are appealing to governments to continue pumping money. Most funds have lost money this year, with equity funds losing an average of four percent. Housing loans rose by 30 percent year-on-year in August to 17 billion CZK. Bank loans rose by 13 billion CZK in August to 6.19 trillion CZK.