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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: A third of companies will lay off workers, others are waiting. Growth in confidence in the Czech economy slowed significantly in August. The Turkish economy fell by the most in a decade due to coronavirus. The company Isolit-Bravo earned 106 million crowns last year. The Swiss economy fell by a record 8.2 percent in the quarter. CNBC: Technology companies will recoup the digital tax. The Brazilian economy fell by a record 9.7 percent in the quarter. Bundesbank: A vaccine may be needed for the economy to fully recover. The average wage in South Moravia was 33,049 CZK in the second quarter. CVVM: Czechs' views on the economic situation are improving again. Wages in the Hradec Králové region fell by 0.4 percent to 32,521 in the second quarter. A tenth of 86 South Bohemian companies had a fifth of their sales due to the virus. The financial administration received 2.75 million tax returns, less than last year. The American economy fell by a record 31.7 percent. CRIF: 946 new companies were added in the Czech Republic in July. The economy fell by 11 percent year-on-year. The worst is probably behind it. Respilon is already producing respirators in Brno, and is preparing a second line. Council: Without further adjustments, budget proposals threaten public finances. Retail sales in Germany unexpectedly fell in July. Survey: Czechs are more willing to accept worse work due to Covid. Japanese exports continued to decline significantly in July.

Stock markets: FT: Aramco to cut spending to have $75 billion in dividends.

Finance: Analysts: Silver price hits seven-year high, will continue to rise. Insurance company VIG expects profit to fall by a fifth due to write-offs. Association: Non-banking companies provided a fifth less money this year. CRIF: Czech citizens' debt rose by 143 billion to CZK 2.52 trillion. Wirecard has agreed to sell its activities in Brazil. Long-term investment account to be an alternative to saving for retirement. Bloomberg: Pandemic pushes millions of Europeans into debt crisis. CNB note: The rise in prices is an effort to compensate for the loss of income. New Zealand's central bank has expanded its bond purchase program. Broker Consulting's revenue from its main activity increased by 12 percent this year. Economic decline in the second quarter was milder than the Czech National Bank estimated. Buffett bought shares in five major companies in Japan. The number of payment cards in the Czech Republic increased by 200,000 to 12.9 million. Seven percent of Slovak households face the risk of financial difficulties. Moneta shareholders approved the non-payment of dividends for last year. The Czech National Bank's Bank Board has newly divided its powers. According to economists, the abolition of the super-gross wage is an ill-considered step. The Czech National Bank has left the reserve for credit market protection at 0.5 percent. APS's revenue increased by one percent last year to CZK 1.2 billion. Uniqa Insurance Company collected 6.6 percent more in premiums this year. According to the Vice Governor, the Czech National Bank will tolerate inflation above its target. Powell: Fed will change approach to inflation, focus more on employment. RB: GDP decline will be the deepest since transformation, will not exceed six percent.