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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: Exporters expect a loss of 300 to 500 billion in exports due to Covid. IMF: Economic prospects are not as bad as expected. Economists: Auctions are common thanks to new Nobel laureates. Inflation will continue to fall, according to analysts. Scientists from CzechGlobe oppose the claim that warming will help the economy. GLP is building an industrial zone in Ostrava for more than a billion crowns. Bloomberg: The virus has dragged a record number of large companies into losses in the US. Americans Milgrom and Wilson won the Nobel Prize in Economics. Investor confidence in the eurozone economy fell for the first time in six months. Survey: Half of smaller companies will have to cut costs. EBRD expects a more significant economic downturn in the countries where it operates. The average company spends 223 hours a year on paperwork, less than last year. According to institutes, the recovery of the German economy is slowing down. Collection agencies: Debtors' payment morale has not deteriorated this year. Business confidence in Germany increased for the fifth consecutive month in September. The Ministry of Finance sold bonds for CZK 5.1 billion, interest was greater. Year-on-year inflation fell to 3.2 percent in September, and is likely to continue to fall.

Stock exchanges: Supplies of building materials fell by up to 30 percent, miners report. The price of gold fell to a two-month low. Metal processor Saker's sales fell to CZK 2.321 billion last year.

Finance: Bank of America's profit fell, Goldman Sachs almost doubled it. ECB is considering changing its current policy due to coronavirus. The largest Saudi Arabian bank will strengthen its position by taking over a competitor. Spanish central bank: strict quarantine will worsen the expected crisis. The Czech National Bank Council today unanimously left interest rates unchanged. The Czech National Bank revoked the license of the Prague currency exchange Changer. EY: 7,500 jobs in the financial sector left Britain due to Brexit. The British central bank is considering negative interest rates. Komerční banka is making an equity investment in the financial company Roger. ČBA: Banks see no reason to renew the deferral of loan repayments. The ECB is intensifying work on the digital euro. PPF banka's net profit increased by 14 percent this year to CZK 1.2 billion. Association: Interest in deferral of repayments is declining, Czechs are starting to pay off loans. VZP: Interest in flu vaccination has increased by a third in eight years. Survey: An unexpected event has befallen 80 percent of Czechs in five years. Millions of bank accounts have been added in Latin America during the pandemic. Survey: Almost a third of Czechs have felt the impact of the pandemic on their finances. US airlines will cut more than 30,000 seats without further state aid. Arca Capital is completing preparations for the entry of a strategic partner. PPF Telecom Group issued seven-year bonds for half a billion euros. Most funds lost money this year, stocks an average of four percent. France will stimulate the economy with a package of 42 billion euros next year. Home Credit plunged into a loss of 16.8 billion CZK due to the pandemic. IMF: Africa needs 1.2 trillion USD to overcome the impacts of Covid. Housing loans increased by 30 percent year-on-year in August to 17 billion CZK.