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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: Most of the next EU budget in the Czech Republic goes to cohesion policy. Meat production in the 2nd quarter fell year-on-year, milk was higher. Price growth in the eurozone unexpectedly accelerated in July. The economy fell by up to 18 percent in the 2nd quarter, according to estimates. Deutsche Bank improved its outlook for this year's global economic development. Euler Hermes: A record number of risk ratings fell in the 2nd quarter. Analysts: Foreign trade in June ended above expectations. Long continues at the head of the Chamber of Commerce of the Czech Republic, his critics failed. The German economy fell by 10.1 percent in the 2nd quarter. Hartmann-Rico will not produce respirators in the Czech Republic, but in Germany. The election of Dlouhý to the head of the HK is welcomed by union leaders and Minister Havlíček. Income tax after the abolition of the super-gross wage may be from 15 to 19 percent. According to analysts, the economic downturn is not tragic. The growth of the manufacturing sector in the US accelerated in July. According to analysts, retail trade in the Czech Republic is heading for a full-year decline. The manufacturer requests an increase in the capacity of certification centers for devices. CZSO: The Czech economy fell by 10.7 percent year-on-year in the second quarter. Analysts: Data from industry are positive, but the decline will continue. Analysts: Retail trade stagnated in June, a decline is expected this year. Association: Czech exports may fall by 500 billion CZK this year. The US economy fell by 32.9 percent in the second quarter.

Stock exchanges: Gold breaks records, helped by weak dollar and economic support. The price of gold has surpassed $2,000 per troy ounce for the first time. Russia plans to invest in expanding production of precious metals.

Finance: Air Bank's net profit rose slightly to CZK 783 million in the first half of the year. The profit of Russia's largest bank Sberbank fell by a third year-on-year. Household debts with banks rose to CZK 1.796 trillion in June. According to analysts, the price of gold will continue to grow in the longer term. Bank loans fell by CZK 264 billion in June to CZK 5.922 trillion. According to the vice governor, the Czech National Bank will tolerate inflation above its target. The Czech National Bank has worsened the outlook for public finances this year and next year. The Czech National Bank left rates unchanged, worsened its economic development forecast. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by half in the first half. Jiří Schneller joined the board of directors of the Czech Export Bank. July inflation of 3.4 percent was in line with the CNB forecast. The New Zealand central bank expanded its bond purchase program. Partners' revenues rose by a fifth in the first half to CZK 965 million. LN: Smartwings have the rating necessary for a state-guaranteed loan. HSBC's profit fell by 65 percent in the first half. ČSOB's net profit fell to CZK 3.5 billion in the first half. ČBA: The volume of new mortgages rose by 27 percent in June to CZK 18.8 billion. Komerční banka's profit fell by 38.5 percent in the first half. S&P agency worsened the outlook for Boeing's credit rating. Commerzbank's profit fell by a fifth in the quarter, and it expects a loss next year. SocGen, the owner of Komerční banka, has another quarterly loss.