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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: Year-on-year decline in construction production slowed to 10.4 percent in July. GfK: German consumer sentiment worsened in September. Bundesbank: A vaccine may be needed to fully revive the economy. Isolit-Bravo earned 106 million crowns last year. In August, the Czech Republic added the most entrepreneurs since January 2012. Chamber: Some companies are concerned about the mission to Taiwan. CVVM: Czechs' views on the economic situation are improving again. The US economy fell by a record 31.7 percent. The economy fell by 11 percent year-on-year. The worst is probably behind us. The Financial Administration received 2.75 million tax returns, fewer than last year. The Swiss economy fell by a record 8.2 percent in the quarter. BBC: Argentines are suffering from quarantine, which has been going on for five months in parts of the country. Industrial prices slowed down their year-on-year decline again in July. The average wage in southern Moravia was CZK 33,049 in the second quarter. Italy's economy fell by a record 12.8 percent in the quarter. Japanese exports continued to decline significantly in July. Confederation of Industry: The pandemic has reduced companies' income, profits and orders. Industrial production in the Czech Republic eased the decline to five percent in July. The budget deficit rose to CZK 230 billion in August. The Greek economy fell by 14 percent, the recession deepened. The Turkish economy fell the most in a decade due to coronavirus. The Australian economy fell by a record amount due to coronavirus. CNBC: Technology companies will recoup the digital tax.

Stock exchanges: Kovosteel Recycling's revenue fell to CZK 595.3 million last year. FT: Aramco will reduce expenses to have USD 75 billion for dividends.

Finance: Trinity Bank's net profit rose to CZK 31 million in the first half of the year. Quarterly profit of banks in the US fell again by 70 percent due to coronavirus. Insurance company Uniqa collected 6.6 percent more in premiums this year. Long-term investment account is intended to be an alternative to saving for retirement. According to the co-owner, the Arca Group will not pay off all its liabilities. German regulator: The worst of the coronavirus crisis is yet to come. Economic decline in the 2nd quarter is milder than the CNB estimated. Wirecard has agreed to sell its activities in Brazil. CRIF: Czech Republic's population debt increased by 143 billion to 2.52 trillion CZK. Hypoindex: Average mortgage rate lowest in more than 2.5 years. EY: 37 percent of Czechs are unaware of cyber risks. RBP will contribute two million for widespread testing in companies. The CNB's Bank Board has newly divided its competences. Analysts: The price of silver has exceeded seven-year highs, it will continue to rise in price. ČSOB was fined 1.5 million CZK by the CNB for exchanging banknotes. The CNB left the reserve for protecting the credit market at 0.5 percent. Bloomberg: The ECB Executive Board could have an equal number of women and men for the first time. Foreign investors hold the most Czech bonds since 2017. Survey: A third of households lost part of their income during the pandemic. July's inflation of 3.4 percent was in line with the CNB's forecast.