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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: In Slovakia, personal bankruptcies have decreased after the outbreak of coronavirus. The Paramo refinery ended last year with a loss of almost 87 million crowns. Survey: A quarter of companies in the Czech Republic plan to robotize in the coming years. The Ministry of Finance will need 730.6 billion CZK to finance debt this year. Analysts: The Czech National Bank has no reason to further ease monetary policy. Survey: Companies lack orders, but they are not planning major layoffs. Study: The Czech Republic has the best production facilities in Europe. Global consumer confidence fell to a record low in the quarter. The US is starting its earnings season, probably the worst since the financial crisis. State debt rose above two trillion crowns in the first half of the year. Industry and construction are not doing well, the EC has worsened its estimate of the economic downturn. The Guardian: Mumbai is finding out how hard it is without workers. India has a trade surplus for the first time in 18 years due to coronavirus. Italy's central bank has worsened its economic outlook. Bubenik Partners: Managers' interest in online companies is growing. Manufacturing production in Japan is the lowest since 2009. SB: The Russian economy will fall by six percent this year, the most since 2009. The auto industry increased sales by 1.9 percent last year to a record 1.124 trillion. Atradius expects the worst global economic recession since 1980. TPA: Activity in the Czech mergers and acquisitions market has fallen this year.

Stock exchanges: Gold continues to rise in price due to coronavirus, is close to an eight-year high. Gold and bitcoin gained in value in the first half of the year, oil prices fell. The Kladno Stock Exchange saw an increase in trades in the first half of the year, but their value fell. The price of gold rose above 1,800 USD per ounce for the first time since 2011.

Finance: The ECB did not change interest rates, called on governments to support the economy. Companies organizing trade fairs and concerts are on the verge of collapse, they claim. Wüstenrot - building savings bank will become Moneta Stavební Spořitelna. Wirecard's collapse blocked the cards of tens of thousands of Czechs. Survey: The financial situation of a third of Czechs worsened during the pandemic. The Ministry of Finance sold bonds in euros for the first time this year, interest was high. Wirecard's collapse blocked the cards of 40,000 clients of the Czech Twist. The Slovak Central Bank has tentatively reduced the reserve ratio for banks. Goldman Sachs has higher profits, exceeding expectations. Bank of America has significantly lower profit, Morgan Stanley higher. June inflation was 0.4 points higher than the CNB estimated. Minutes of the CNB meeting: There is no need to further loosen monetary policy. Index: Czech exports are expected to recover in the next five months. Mutual funds suffered losses in the first half of the year, especially equity ones. Experts: Companies will need state aid programs in the fall as well. Pan-European payments system could be in place in 2022. IMF is concerned about the independence of the Ukrainian central bank. Coronavirus has halved interest in cash on delivery. AP: The hottest commodity in Lebanon is the US dollar. Zlato.cz: CNB increased foreign exchange reserves by 1.2 tons of gold. Deutsche Bank is considering helping the bankrupt banking division Wirecard.