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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: The Italian central bank has worsened the outlook for economic development. Deník N: Zbrojař Strnad is moving its headquarters from the Netherlands to the Czech Republic. The capital in the registered capital of domestic companies is the lowest since 2013. The automotive industry increased sales by 1.9 percent last year to a record 1.124 trillion. Industry and construction are not doing well, the EC has worsened the estimate of the economic downturn. The Chamber of Commerce has opened a warehouse for supplies of protective equipment. Kosmická S.A.B. Aerospace increased its profit to 13 million last year. The Ministry of Finance will need 730.6 billion CZK to finance its debt this year. The Paramo refinery ended last year with a loss of almost 87 million CZK. Analysts: The impact of the pandemic on unemployment will be noticeable in the fall. Survey: A quarter of companies in the Czech Republic plan to robotize in the coming years. The British economy has fallen the most since 1979 due to coronavirus. Manufacturing production in Japan is at its lowest since 2009. Exports from Germany continued to fall sharply in May. Maláčová: The priority of the reform is pensions for demanding professions and educational benefits. Švejnar: The Czech economy will fall by 7.5 to eight percent of GDP this year. Personal bankruptcies have decreased in Slovakia after the outbreak of coronavirus. According to the head of the ECB, the coronavirus will lead to fundamental changes in the economy.

Stock exchanges: Gold is the most expensive since 2011, the price is just below 1800 USD. The price of gold has risen above 1800 USD per ounce for the first time since 2011. Critic: We have not received an answer, the government and the management of ČEZ are in synergy. Gold continues to rise in price due to coronavirus, it is close to the highest in eight years. Metalimex's net profit and sales fell last year, the reason being the market situation.

Finance: Insurance companies: The number of claims after the June rains is approaching 10,000. June inflation was 0.4 points higher than the CNB estimated. Wüstenrot - stavební spořitelna will become Moneta Stavební Spořitelna. Coronavirus has halved interest in cash on delivery. Survey: The financial situation of a third of Czechs worsened during the pandemic. Quarantine has accelerated digitalization, banks are starting to close branches. CNB: The number of complaints about exchange offices fell by half last year. KB shareholders decided not to pay shareholders a dividend. TransferWise is now allowed to offer investment services in Britain. US banking agencies will relax the Volcker Rule. The number of currency exchange offices in the Czech Republic decreased last year, and there were also fewer client complaints. The EU wants to keep up with the US and China in space, and is preparing investments. Broker Consulting has received an investment company license from the Czech National Bank. The IMF is concerned about the independence of the Ukrainian central bank. Experts: Companies will need state aid programs in the fall as well. The Slovak central bank has tentatively reduced the reserve ratio for banks. The Fed has limited bank dividends and share buybacks after stress tests. The Hungarian central bank unexpectedly reduced the base interest rate. The court has appointed an insolvency administrator for Wirecard. The profit of the largest US bank, JPMorgan, has fallen by more than half. Bank loans in May rose by ten billion to 6.186 trillion CZK. The financial company Ant from the Alibaba group is planning to enter the stock exchange.