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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 British economy has fallen the most since 1979 due to coronavirus. The capital in the registered capital of domestic companies is the lowest since 2013. Pelhřimov brush factories will launch more products by designer Novague. Budget Council: Public finances are unsustainable in the long term. Exports from Germany continued to fall sharply in May. Institute: Tax Freedom Day will be later this year in all countries. Rhodium: Foreign capital is increasingly interested in Chinese companies. The Ministry of Labour and Social Affairs is preparing a set of measures for a possible increase in unemployment. The Chamber of Commerce has opened a warehouse for supplies of protective equipment. Survey: Financial bosses in the region are more optimistic than the OECD. Covid is spreading rapidly in America and India, the EU is negotiating a recovery fund. SAO: Ministry of Labor spent billions on applied research, did not track benefits. Foreign entrepreneurs bought a third fewer Czech companies this year. The auto industry increased sales by 1.9 percent last year to a record 1.124 trillion. Analysts: The impact of the pandemic on unemployment will be noticeable in the fall. Personal bankruptcies decreased in Slovakia after the outbreak of coronavirus. Atradius expects the worst global economic recession since 1980.

Stock exchanges: HN: Kellner's PPF sold part of the shares of the Russian miner Polymetal. Critic: We did not get an answer, the government and the management of ČEZ are in synergy. The price of gold rose above 1,800 USD per ounce for the first time since 2011. Lead and battery producers were helped by new customers during the pandemic. Gold and Bitcoin gained value in the first half of the year, while the price of oil fell.

Finance: Coronavirus halved interest in cash on delivery. The Russian Central Bank has cut interest rates to a record low. The Czech National Bank has lifted another limit on mortgages, banks are resilient, it says. Mutual funds suffered losses in the first half of the year, especially equity funds. Analysts: Today's move by the Czech National Bank will stimulate the mortgage and real estate markets. The number of currency exchange offices in the Czech Republic decreased last year, and there were also fewer client complaints. Deutsche Bank is considering helping the bankrupt Wirecard banking division. TransferWise is now allowed to offer investment services in Britain. Study: Deferred payment services are on the rise. KB shareholders have decided not to pay shareholders a dividend. The Slovak Central Bank has tentatively reduced the reserve ratio for banks. RegioJet increased its bond issue by almost half a billion crowns. The Fed has limited bank dividends and share buybacks after stress tests. Coface: The Czech economy will fall by 6.2 percent this year. Bank loans increased by ten billion in May to 6.186 trillion CZK. Quarantine accelerated digitalization, banks are starting to close branches. Survey: After the crisis, 34 percent of Czechs started paying by card in restaurants. CBA: The volume of new mortgages fell by five percent in May to 14.8 billion. Wirecard's bankruptcy blocked the cards of 40,000 clients of the Czech Twist. Broker Consulting received an investment company license from the Czech National Bank. CITIC Group will strengthen its position in Chinese investment banking. Wirecard's bankruptcy blocked the cards of tens of thousands of Czechs. The Hungarian Central Bank unexpectedly reduced the base interest rate.