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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: China's economy grew by 3.2 percent in the second quarter. Analysts: The Czech National Bank has no reason to further ease monetary policy. The Italian central bank has worsened the outlook for economic development. Chamber: Most companies will not lay off workers until the end of the holidays. The South Korean economy fell into recession in the second quarter. Economic activity in the eurozone returned to growth after the coronavirus. In Slovakia, personal bankruptcies decreased after the outbreak of the coronavirus. CRIF: 5,491 companies were added in the Czech Republic in the first half of the year, the least in 10 years. New application will help Czech companies with exchange rate risk. The Chamber of Commerce has opened a warehouse for supplies of protective equipment. GfK: German consumer sentiment is improving, also thanks to the VAT reduction. Experts: Interest in investment incentives after the amendment has decreased according to predictions. India has a trade surplus for the first time in 18 years due to coronavirus. Deník N: Zbrojař Strnad is moving its company headquarters from the Netherlands to the Czech Republic. Microsoft: A quarter of a billion people may lose their jobs worldwide this year. COVID rental applications exceeded one billion crowns in less than a month. Investor and analyst confidence in the German economy has fallen slightly. SB: The Russian economy will fall by six percent this year, the most since 2009. TPA: Activity has decreased on the Czech mergers and acquisitions market this year. According to the office, 179,393 properties do not have a clear owner. Prices in industry have slowed down, agricultural prices have fallen significantly.

Stock exchanges: Gold is the most expensive in nine years, silver since 2013. The price of gold rose above 1,800 USD per ounce for the first time since 2011. On the Kladno stock exchange in the first half of the year, trades increased, but their value decreased. Metalimex's net profit and sales fell last year, due to the market situation.

Finance: The number of currency exchange offices in the Czech Republic decreased last year, and there were also fewer client complaints. According to the CNB, withdrawals from COVID programs increased by 900 million CZK in a week. According to the CNB, companies withdrew 12 billion CZK from COVID programs as of July 10. Dozens of millionaires called on governments to tax the rich higher. The ECB extended the ban on dividend payments and relief for banks. Insurance companies: The number of accidents increases by tens of percent in the summer. Companies organizing trade fairs and concerts are on the verge of collapse, they claim. The new head of the Ukrainian central bank promised to maintain independence. HN: Liberty Ostrava wants a state guarantee for a loan of 7 billion crowns. Royal Bank of Scotland changes its name to NatWest after 300 years. The ECB did not change interest rates, called on governments to support the economy. The Russian central bank lowered the key interest rate to a new minimum. Quarantine accelerated digitalization, banks are starting to close branches. Financial company Ant from the Alibaba group plans to enter the stock market. American Express's profit fell by 85 percent due to coronavirus restrictions. Analysts: The price of gold should continue to grow even after breaking the record. The number of vacancies in the British financial sector fell by 60 percent.. Moody's: The pandemic will increase pressure on the revenues of some local governments, including in the Czech Republic. Zlato.cz: Czech National Bank increases foreign exchange reserves by 1.2 tons of gold. Commerzbank shares strengthen after unexpected resignation of management.