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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: The budget deficit rose to 230 billion crowns in August. A tenth of 86 South Bohemian companies had a fifth of their sales due to the virus. The company Isolit-Bravo earned 106 million crowns last year. Euler Hermes: A record number of risk ratings fell in the second quarter. Expert: The collapse of the construction industry is the worst result in seven years. Bundesbank: A vaccine may be needed to fully revive the economy. Analysts: Data from industry is positive, but the decline will continue. Ifo: German companies expect it to return to normal in 11 months. BBC: Argentines are worried about the quarantine, which has been going on for five months in parts of the country. The Turkish economy has suffered the most in a decade due to the coronavirus. Industrial prices slowed down their year-on-year decline again in July. The economy fell by 11 percent year-on-year. the worst is probably behind us. Chamber: Some companies are worried about the mission to Taiwan. Ministry of Finance sold bonds for five billion CZK, interest was significantly higher. GfK: German consumer sentiment worsened for September. Income tax after the abolition of the super gross wage may be from 15 to 19 percent. Deutsche Bank improved its outlook for this year's global economic development. OECD: The economies of member countries fell by a record in the 2nd quarter. Japanese exports continued to decline significantly in July. The US economy fell by a record 31.7 percent.

Stock exchanges: FT: Aramco will reduce expenses to have 75 billion USD for dividends.

Finance: Broker Consulting's revenue from its main business increased by 12 percent this year. Goldman Sachs has reduced its reported profit due to the 1MDB dispute. All major banks' profits fell by tens of percent in the first half of the year. Bloomberg: The pandemic is pushing millions of Europeans into a debt crisis. Bloomberg: The ECB's executive board could have an equal number of women and men for the first time. Seven percent of Slovak households face the risk of financial difficulties. The New Zealand central bank has expanded its bond purchase program. Insurance company Uniqa collected 6.6 percent more in premiums this year. Wirecard has agreed to sell its activities in Brazil. The Czech National Bank's banking board has newly divided its powers. Analyst Kovanda has become the chief economist of the Czech Trinity Bank. The Czech National Bank has left the reserve for protecting the credit market at 0.5 percent. The Czech National Bank has left rates unchanged, worsened its estimate of economic development. Raiffeisenbank's net profit fell by 52 percent to CZK 1.3 billion. S&P agency worsened Boeing's credit rating outlook. Hypoindex: Average mortgage rate lowest in more than 2.5 years. Buffett bought shares in five major companies in Japan. CRIF: Czech citizens' debt rose by CZK 143 billion to CZK 2.52 trillion. Economic decline in Q2 milder than CNB estimated. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by half in the first half of the year. Long-term investment account is to be an alternative to saving for retirement. Four large Chinese banks have the biggest drop in profit in a decade. Survey: A third of households lost part of their income during the pandemic. VIG insurance company expects a fifth drop in profit due to write-offs.