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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: Analysts: CNB has no reason to further ease monetary policy. Atradius expects the worst global economic recession since 1980. CRIF: 5,491 companies were added in the Czech Republic in the first half of the year, the least in 10 years. Mazars: Half of investors expect sales growth in the next 12 months. Japanese exports fell by 15.4 percent in the first half of the year, the most since 2009. The US is starting the earnings season, probably the worst since the financial crisis. Survey: Companies are missing orders, but they are not planning major layoffs. Exports from Germany continued to fall sharply in May. According to the office, 179,393 properties do not have a clear owner. COVID rental applications exceeded one billion crowns in less than a month. State debt rose above two trillion crowns in the first half of the year. Chamber: Most companies will not lay off until the end of the holidays. New application will help Czech companies with exchange rate risk. Bubenik Partners: Managers' interest in online companies is growing. South Korean economy fell into recession in the second quarter. IMF: US economy faces risks and a long road to recovery. Deník N: Zbrojař Strnad moves company headquarters from the Netherlands to the Czech Republic. Investor and analyst confidence in the German economy has fallen slightly. India has a trade surplus for the first time in 18 years due to coronavirus. Explosia ended last year with a loss of 129 million crowns. Maláčová: The priority of the reform is pensions for demanding professions and educational benefits.

Stock exchanges: Metalimex's net profit and sales fell last year, the reason being the market situation. The price of gold exceeded 1900 USD per ounce for the first time in almost nine years. In the first half of the year, the number of transactions increased on the Kladno stock exchange, but their value fell. Gold is the most expensive in nine years, silver since 2013.

Finance: Insurance companies: The number of accidents increases by tens of percent in the summer. ČSOB Insurance achieved a record profit of 1.198 billion crowns last year. The new head of the Ukrainian central bank promised to maintain independence. Goldman Sachs has higher profits, exceeding expectations. The financial company Ant from the Alibaba group plans to enter the stock exchange. Bank of America has significantly lower profits, Morgan Stanley higher. The COVID plus program has been expanded to include transport and tourism. UBS has lower profits due to the pandemic, but exceeded estimates. Wüstenrot - building society will become Moneta Building Society. KB shareholders decided not to pay shareholders a dividend. Survey: After the crisis, 34 percent of Czechs started paying by card in restaurants. IMF is concerned about the independence of the Ukrainian central bank. The Slovak central bank has tentatively reduced the reserve ratio for banks. The Russian central bank has reduced the key interest rate to a new minimum. The ECB has not changed interest rates, has called on governments to support the economy. Commerzbank shares are strengthening after the unexpected resignation of the management. American Express profit fell by 85 percent due to coronavirus restrictions. Swiss bank Julius Baer had a record profit in the first half of the year. The profit of the largest American bank JPMorgan fell by more than half. Companies organizing trade fairs and concerts are on the verge of collapse, they claim.