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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: IMF: US economy faces risks and a long road to recovery. Association: Czech exports may fall by 500 billion CZK this year. India has a trade surplus for the first time in 18 years due to coronavirus. Experts: Exporters would benefit from a reduction in the tax burden on labor. The number of insolvencies will increase by a third next year compared to 2019. The South Korean economy fell into recession in the second quarter. CRIF: 5,491 companies were added in the Czech Republic in the first half of the year, the least in 10 years. Explosia ended last year with a loss of 129 million crowns. Experts: Interest in investment incentives after the amendment has decreased, according to predictions. The election of Dlouhý as head of the HK is welcomed by union leaders and Minister Havlíček. The state debt rose above two trillion crowns in the first half of the year. Investor and analyst confidence in the German economy fell slightly. Mazars: Half of investors expect sales growth in the next 12 months. Dlouhý: The biggest problem of the frozen economy is low demand. Japanese exports fell by 15.4 percent in the first half of the year, the most since 2009. 7,688 companies closed down businesses in the Czech Republic in the first half of the year, three percent less. Microsoft: A quarter of a billion people may lose their jobs worldwide this year. Chamber: Most companies will not lay off workers by the end of the holidays. EGAP has recorded 45 COVID-plus applications for CZK 9.6 billion as of today. Moravian-Silesian companies are spending hundreds of thousands on testing commuters. US dollars are returning to stores in Cuba due to Covid. The German economy shrank by 10.1 percent in the second quarter.

Stock exchanges: Gold is the most expensive in nine years, silver since 2013. The price of gold exceeded 1,900 USD per ounce for the first time in almost nine years.

Finance: Partners' revenue in the first half of the year rose by a fifth to CZK 965 million. The profit of the largest American bank JPMorgan fell by more than half. Insurance companies: The number of accidents increases by tens of percent in the summer. The ECB left the base interest rate at a record low of zero percent. CNBC: Investors are putting millions into e-bikes in the EU. Emirates is introducing coronavirus insurance in an effort to get people to fly. Survey: The financial situation of a third of Czechs worsened during the pandemic. Erste Group's profit fell by 60 percent in the first half of the year. According to the Czech National Bank, companies drew CZK 12 billion from COVID programs as of July 10. The new head of the Ukrainian central bank promised to maintain independence. Index: Czech exports are expected to recover in the next five months. The COVID plus program has been expanded to include transport and tourism. Goldman Sachs has higher profits, exceeding expectations. American Express's profit fell by 85 percent due to coronavirus restrictions. Royal Bank of Scotland is changing its name to NatWest after 300 years. Swiss bank Julius Baer had a record profit in the first half of the year. The Russian central bank cut the key interest rate to a new low. Household debts with banks rose to CZK 1.796 trillion in June. CBA: Almost every Czech now uses electronic banking. LN: Smartwings has the rating necessary for a state-guaranteed loan. According to the CNB, the drawdown from COVID programs increased by CZK 900 million per week.