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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 Italian central bank has worsened its economic outlook. Exports from Germany continued to fall sharply in May. State debt rose above two trillion crowns in the first half of the year. US dollars are returning to shops in Cuba due to Covid. Analysts: The impact of the pandemic on unemployment will be noticeable in the fall. The South Korean economy fell into recession in the second quarter. GfK: German consumer sentiment is improving, also thanks to the VAT cut. Survey: Companies are missing orders, but they are not planning major layoffs. Investor and analyst confidence in the German economy has fallen slightly. New application will help Czech companies with exchange rate risk. India has a trade surplus for the first time in 18 years due to coronavirus. Bloomberg: Coronavirus rescue programs reduced bankruptcies in the EU. Explosia ended last year with a loss of 129 million crowns. COVID rental applications exceeded a billion crowns in less than a month. Bubenik Partners: Managers' interest in online companies is growing. SB: Russian economy will fall by six percent this year, the most since 2009. Industrial prices have slowed down, agricultural prices have fallen significantly. Foreign entrepreneurs have bought a third fewer Czech companies this year. TPA: Activity in the Czech mergers and acquisitions market has fallen this year. Global consumer confidence fell to a record low in the quarter. Microsoft: A quarter of a billion people may lose their jobs worldwide this year.

Stock exchanges: The price of gold has risen above 1,800 USD per ounce for the first time since 2011. The price of gold has reached a record, reaching almost $1,945. Gold is the most expensive in nine years, silver since 2013.

Finance: ECB extended the ban on dividend payments and relief for banks. IMF is concerned about the independence of the Ukrainian central bank. Fitch agency worsened the outlook for Japan's rating due to coronavirus. Insurance companies: The number of accidents increases by up to tens of percent in the summer. LN: Smartwings have the rating required for a loan with a state guarantee. ECB left the base interest rate at a record low of zero percent. The number of vacancies in the British financial sector fell by 60 percent. Index: Czech exports are expected to recover in the next five months. UBS bank has lower profits due to the pandemic, but it exceeded estimates. Survey: 34 percent of Czechs started paying by card in restaurants after the crisis. AP: The hottest commodity in Lebanon is the US dollar. According to the Czech National Bank, withdrawals from COVID programs increased by 900 million CZK in a week. CBA: Almost every Czech now uses electronic banking. Survey: The financial situation of a third of Czechs worsened during the pandemic. The new head of the Ukrainian central bank promised to maintain independence. The ECB did not change interest rates, called on governments to support the economy. The Russian central bank cut the key interest rate to a new low. The Ministry of Finance sold bonds in euros for the first time this year, interest was high. Mutual funds lost money in the first half of the year, especially equity funds. June inflation was 0.4 points higher than the Czech National Bank estimated. The profit of the largest American bank, JPMorgan, fell by more than half.