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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: Industry analysis: 70 percent of companies expect a decline in profitability this year. A record number of companies applied for protection from creditors at the end of August. The Ústí nad Labem Region's self-employed person of the year is engaged in the restoration of monuments. Deloitte: Warming will have a positive impact on the Czech economy. According to estimates, year-on-year inflation in August fell slightly. Euler Hermes expects an increase in company insolvencies in the Czech Republic by eight percent this year. Statisticians confirmed a 12.1 percent decline in the Slovak economy. The record decline in the EU and eurozone economies was lower than estimated. The foreign trade surplus increased to CZK 13.4 billion in July. Investor confidence in the eurozone economy has increased again. 62 applications for CZK 645 million have been submitted for the COVID Spa program. Dlouhý: Entrepreneurs are most concerned about blanket measures. The New Zealand economy has fallen to a record low due to the coronavirus. Exports from China grew the most in almost 1.5 years, but imports fell. Prices were 3.3 percent higher in August compared to last year, alcohol became more expensive. The year-on-year decline in construction production slowed to 10.4 percent in July. IDEA: The abolition of the super gross wage is the least beneficial for low-income earners. Most Czech companies do not prohibit workers from traveling abroad. Duha presented ecological proposals for the recovery plan. In a number of Moravian-Silesian companies, workers do not have to wear masks. Industrial production in the Czech Republic eased the decline to five percent in July. Experts: The temporary abolition of the super gross wage will make the system unclear. Consumer prices in the US rose by 0.4 percent in August.

Stock exchanges: Central banks' gold reserves have increased by 5,000 tons in ten years. The price of gold has fallen to a two-month low.

Finance: Reuters: Spanish banks Caixabank and Bankia have approved a merger. According to the co-owner, the Arca group will not pay all its obligations. Reuters: Caixabank and Bankia have agreed in principle to a merger. As of August 28, banks had received 399,000 applications for deferral of loan payments. J&T Banka is preparing assistance for unsecured creditors of the Arca group. As of September 11, banks had received 400,000 applications for deferral of loan payments. Survey: An unexpected event has befallen 80 percent of Czechs in five years. Moody's has worsened Turkey's credit rating by one notch. ČSOB was fined CZK 1.5 million by the Czech National Bank for exchanging banknotes. Survey: Almost a third of Czechs felt the impact of the pandemic on their finances. The Fed, as expected, left interest rates unchanged, improved its outlook. Mastercard: A quarter of Czechs use biometric payment verification. Lloyd's of London insurance market has a loss of 400 million pounds. Leasing and installment companies approved 79,000 installment deferrals. Reuters: Deutsche Bank will close a fifth of its branches due to the virus. British bank Lloyds will cut 865 jobs, create new ones. As of September 4, banks had approved 358,000 applications for loan repayment deferrals. Building societies have provided loans worth one trillion CZK since 1993. Over 80 percent of Czechs believe that the price of life is incalculable. The CNB Council today unanimously left interest rates unchanged.