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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: Industry and construction are not doing well, the EC has worsened the estimate of the economic downturn. The Italian central bank has worsened the outlook for economic development. As of today, EGAP has registered 45 applications for 9.6 billion CZK in COVID plus. Applications for COVID rent in less than a month have exceeded one billion CZK. The Chamber of Commerce has opened a warehouse for supplies of protective equipment. Explosia ended last year with a loss of 129 million CZK. Prices in industry have slowed down, agricultural prices have fallen significantly. The economy fell by up to 18 percent in the second quarter, according to estimates. 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 worldwide may lose their jobs this year. According to the office, 179,393 properties do not have a clear owner. The US earnings season is starting, probably the worst since the financial crisis. TPA: Activity in the Czech mergers and acquisitions market has decreased this year. Analysts: The Czech National Bank has no reason to further ease monetary policy. New application will help Czech companies with exchange rate risk. The number of insolvencies will increase by a third next year compared to 2019. Investor and analyst confidence in the German economy has fallen slightly. The South Korean economy fell into recession in the second quarter. Mazars: Half of investors expect sales growth in the next 12 months. Bloomberg: Coronavirus rescue programs have reduced bankruptcies in the EU. Experts: Interest in investment incentives after the amendment has decreased, according to predictions.

Stock exchanges: The price of gold has risen above 1,800 USD per ounce for the first time since 2011. Gold is the most expensive in nine years, silver since 2013. The price of gold exceeded 1900 USD per ounce for the first time in almost nine years.

Finance: LN: Smartwings has the rating needed for a loan with a state guarantee. The Ministry of Finance sold bonds in euros for the first time this year, interest was high. Companies organizing fairs and concerts are on the verge of collapse, they claim. Zlato.cz: The Czech National Bank increased foreign exchange reserves by 1.2 tons of gold. The financial company Ant from the Alibaba group plans to enter the stock exchange. ČBA: Almost every Czech now uses electronic banking. CNBC: Investors are putting millions into e-bikes in the EU. HN: Liberty Ostrava wants a state guarantee for a loan of 7 billion crowns. ČSOB Pojišťovna achieved a record profit of 1.198 billion crowns last year. Mutual funds suffered losses in the first half of the year, especially equity funds. Swiss bank Julius Baer had a record profit in the first half of the year. Quarantine accelerated digitalization, banks are starting to close branches. COVID plus program expanded to include transport and tourism. ECB left the base interest rate at a record low of zero percent. Fitch agency worsened Japan's rating outlook due to coronavirus. Index: Czech exports are expected to recover in the next five months. Russian central bank cut key interest rate to a new low. Experts: Companies will need state aid programs in the fall as well. Deutsche Bank achieved quarterly profit despite coronavirus. AP: The hottest commodity in Lebanon is the US dollar. Bank of America has significantly lower profit, Morgan Stanley higher.