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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: Skoda Auto paid the most income tax to the state last year. Business confidence in Germany rose for the fifth consecutive month in September. The average company spends 223 hours a year on paperwork, less than last year. Dlouhý: Entrepreneurs are most worried about blanket measures. The British economy grew less than expected in August. The Ministry of Finance sold bonds for 5.1 billion CZK, interest was greater. French Vinci offers 5.2 billion euros for part of Spanish ACS. CzechGlobe scientists oppose the claim that warming will help the economy. The Chinese boosted the domestic economy during the holiday week. Survey: Growth in business activity in the eurozone has almost stopped. JCDecaux has initiated arbitration with the Czech Republic over the rental of advertising space. Year-on-year inflation fell to 3.2 percent in September, and is likely to continue to fall. Americans Milgrom and Wilson won the Nobel Prize in Economics. Developer CTP reduced profit by 29 percent to CZK 2.7 billion, revenue increased. In August, 881 companies were added to the Czech Republic, 61 fewer than in July. According to the Budget Forecast Committee, the Ministry of Finance's forecast is realistic. Duha presented ecological proposals for the recovery plan. Epiq: The number of corporate bankruptcies in the US has increased by a third so far this year. IMF: The economic outlook is not as bad as expected.

Stock exchanges: Central banks' gold reserves have increased by 5,000 tons in the past ten years. Metal processor Saker's sales fell to CZK 2.321 billion last year.

Finance: IMF: Africa needs 1.2 trillion USD to overcome the impacts of Covid. VZP: Interest in flu vaccination has increased by a third in eight years. Millions of bank accounts have been added in Latin America during the pandemic. The largest Saudi Arabian bank will strengthen its position by taking over a competitor. PPF Telecom Group issued seven-year bonds for half a billion euros. Airlines in the US will cancel more than 30,000 seats without further state aid. The CNB Council unanimously left interest rates unchanged today. Over 80 percent of Czechs believe that the price of life is incalculable. Spanish central bank: strict quarantine will worsen the expected crisis. Komerční banka is making an equity investment in the financial company Roger. Survey: An unexpected event has befallen 80 pct. in five years. Czechs. American bank Citigroup must pay a fine of 400 million dollars. Most funds have lost money this year, stocks an average of four percent. EY: 7,500 jobs in the financial sector have left Britain due to Brexit. Banks are not yet preparing to close branches due to the coronavirus. Reuters: Deutsche Bank will close a fifth of its branches due to the virus. Hungary's central bank surprisingly increased the deposit rate. Housing loans increased by 30 percent year-on-year in August to 17 billion CZK. PPF bank's net profit increased by 14 percent this year to 1.2 billion CZK. Survey: Czechs most often save 1,000 to 3,000 CZK per month. As of September 18, banks had accepted 401,000 applications for deferral of repayments. Home Credit plunged into a loss of 16.8 billion CZK due to the pandemic. Raiffeisenbank will take over Raiffeisen stavební spořitelna. Survey: Almost a third of Czechs felt the impact of the pandemic on their finances.