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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 election of Dlouhý to the head of the HK is welcomed by union leaders and Minister Havlíček. The economy in the 2nd quarter fell by up to 18 percent, according to estimates. GfK: German consumer sentiment is improving, also thanks to the VAT reduction. COVID rent applications in less than a month exceeded a billion crowns. The EU economy fell by a record 11.9 percent in the second quarter. The US economy fell by 32.9 percent in the second quarter. Bloomberg: Coronavirus rescue programs reduced bankruptcies in the EU. Analysts: The pension system deficit is due to the pandemic and the growth of pensions. The manufacturer requests an increase in the capacity of certification centers for aids. Moravian-Silesian companies spend hundreds of thousands on testing commuters. Economists would rather end the Antivirus program sooner than later. Czech share in space events is growing, over 60 companies have participated. Dlouhý remains at the head of the Czech Chamber of Commerce, his critics have failed. WTO: World trade will fall by 13 percent this year due to coronavirus. The Czech economy, like others, fell by a record in the second quarter. Survey: Companies will temporarily limit investments, investing more in IT and online. 7,688 companies closed down their businesses in the Czech Republic in the first half of the year, three percent less. Chamber: Most companies will not lay off workers until the end of the holidays. Manufacturer asks to increase the capacity of certification centers for gadgets. In Cuba, US dollars are returning to stores due to Covid. Economic activity in the eurozone has returned to growth after coronavirus. Dlouhý: The biggest problem of the frozen economy is low demand. Unemployment in the EU rose to 7.1 percent in June.

Stock markets: Gold price crosses $2,000 per troy ounce for the first time. Gold is the most expensive in nine years, silver since 2013. Gold price hits record, reaching almost $1,945.

Finance: Survey: More than four-fifths of Czech households save. SocGen, owner of Komerční banka, has another quarterly loss. Share of foreign investors holding Czech bonds has fallen. CNBC: Investors are putting millions into e-bikes in the EU. CBA: Volume of new mortgages rose by 27 percent in June to 18.8 billion. Royal Bank of Scotland changes name to NatWest after 300 years. ČSOB Pojišťovna achieved a record profit of 1.198 billion crowns last year. ČBA: Almost every Czech now uses electronic banking. Fitch agency worsened Japan's rating outlook due to coronavirus. HSBC bank profit fell by 65 percent in the first half of the year. Moneta's profit for the first half of the year fell by 40 percent year-on-year to 1.2 billion. HN: Liberty Ostrava wants a state guarantee for a loan of 7 billion crowns. Deutsche Bank achieved a quarterly profit despite the coronavirus. The COVID plus program was expanded to include transport and tourism. Household debts with banks rose to 1.796 trillion CZK in June. The Russian Central Bank cut the key interest rate to a new low. UBS bank has lower profit due to the pandemic, but it exceeded estimates. Commerzbank's profit fell by a fifth in the quarter, expects a loss for the year. Bank loans fell by 264 billion to 5.922 trillion CZK in June.