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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: India has a trade surplus for the first time in 18 years due to coronavirus. GfK: German consumer sentiment is improving, also thanks to a VAT reduction. SB: The Russian economy will fall by six percent this year, the most since 2009. In Slovakia, personal bankruptcies have decreased after the outbreak of coronavirus. Maláčová: The priority of the reform is pensions for demanding professions and educational benefits. New application will help Czech companies with exchange rate risk. The Paramo refinery ended last year with a loss of almost 87 million crowns. State debt rose above two trillion crowns in the first half of the year. According to the office, 179,393 properties do not have a clear owner. Deník N: Zbrojař Strnad is moving the company's headquarters from the Netherlands to the Czech Republic. Industry and construction are not doing well, the EC has worsened its estimate of the economic downturn. According to the head of the ECB, the coronavirus will lead to fundamental changes in the economy. Microsoft: A quarter of a billion people may lose their jobs this year in the world. Foreign entrepreneurs bought a third fewer Czech companies this year. The Ministry of Labour and Social Affairs is preparing a set of measures for a possible increase in unemployment. TPA: Activity in the Czech mergers and acquisitions market has decreased this year. Survey: Companies lack orders, but they are not planning major layoffs. CRIF: 5,491 companies were added in the Czech Republic in the first half of the year, the least in 10 years. The earnings season begins in the US, probably the worst since the financial crisis. Analysts: The Czech National Bank has no reason to further loosen monetary policy. COVID rental applications exceeded one billion crowns in less than a month.

Stock exchanges: Gold is the most expensive in nine years, silver since 2013. Metalimex's net profit and sales fell last year, due to the market situation. Gold and bitcoin gained value in the first half of the year, oil prices fell.

Finance: The number of vacancies in the British financial sector fell by 60 percent. American Express's profit fell by 85 percent due to coronavirus restrictions. The COVID plus program was expanded to include transport and tourism. June inflation was 0.4 points higher than the CNB estimated. Bank of America has significantly lower profit, Morgan Stanley higher. AP: The hottest commodity in Lebanon is the US dollar. Insurance companies: The number of accidents increases by tens of percent in the summer. UBS has lower profit due to the pandemic, but it exceeded estimates. IMF has concerns about the independence of the Ukrainian central bank. According to the Czech National Bank, companies drew CZK 12 billion from COVID programs as of July 10. Commerzbank shares strengthen after the unexpected resignation of the management. ECB left the base interest rate at a record low of zero percent. Profit of the largest American bank JPMorgan fell by more than half. CNBC: Investors put millions into e-bikes in the EU. Royal Bank of Scotland changes its name to NatWest after 300 years. MF sold bonds in euros for the first time this year, interest was high. Survey: After the crisis, 34 percent of Czechs started paying by card in restaurants. Deutsche Bank is considering helping the bankrupt banking division of Wirecard. The new head of the Ukrainian central bank promised to maintain independence. The Slovak central bank has tentatively reduced the reserve ratio for banks. Mutual funds lost money in the first half of the year, especially equity funds.