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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: CZSO: 60 percent of entrepreneurs experienced the impacts of the coronavirus crisis. COVID rent applications in less than a month exceeded one billion crowns. Chamber: Most companies will not lay off until the end of the holidays. According to analysts, retail trade in the Czech Republic is heading for a full-year decline. The US economy fell by 32.9 percent in the second quarter. Price growth in the eurozone unexpectedly accelerated in July. The EU economy fell by a record 11.9 percent in the second quarter. The economy fell by up to 18 percent in the second quarter, according to estimates. CZSO: Confidence in the Czech economy increased significantly in July. Dlouhý: The biggest problem of the frozen economy is low demand. Moravian-Silesian companies spend hundreds of thousands on testing commuters. Association: Czech exports may fall by 500 billion CZK this year. Analysts say the economic downturn is not tragic. Experts: Exporters would benefit from a reduction in the tax burden on labor. EGAP has recorded 45 COVID-plus applications worth 9.6 billion CZK as of today. Unemployment in the EU rose to 7.1 percent in June. Manufacturer requests to increase the capacity of certification centers for devices. South Korean economy fell into recession in the second quarter. GfK: German consumer sentiment is improving, also thanks to the VAT cut. Analysts: Retail trade stagnated in June, a decline is expected this year. Analysts: Industry data is positive, but the decline will continue. Survey: Companies will temporarily limit investments, invest more in IT and online. New application will help Czech companies with exchange rate risk.

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. The price of gold has reached a record high, reaching almost $1,945.

Finance: Household debts with banks rose to CZK 1.796 trillion in June. CBA: Almost every Czech now uses electronic banking. Jiří Schneller has joined the board of directors of the Czech Export Bank. The Russian Central Bank has cut the key interest rate to a new low. The British Central Bank: The economy will recover more slowly. Approximately 800 entrepreneurs have applied for a payment terminal free of charge for a year. According to estimates, the CNB will leave interest rates unchanged on Thursday. ECB extends ban on dividend payments and relief for banks. CBA: Volume of new mortgages rose by 27 pct in June to 18.8 billion. Study: The richest in the US do not give as much as they pledged to charity. SocGen, owner of Komerční banka, has another quarterly loss. Erste Group's profit fell by 60 percent in the first half of the year. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by half in the first half of the year. Commerzbank's profit fell by a fifth in the quarter, and it expects a loss for the year. American Express' profit fell by 85 pct due to coronavirus restrictions. ČSOB Pojišťovna achieved a record profit of 1.198 billion crowns last year. HSBC's profit fell by 65 percent in the first half of the year. Komerční banka's profit fell by 38.5 percent in the first half of the year. MF: The volume of money on the financial market rose to 6.9 trillion CZK last year.