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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: A third of the industry's decline should not be repeated. Survey: A third of small and medium-sized exporters are looking for new markets. Analysts: Earlier publication of macro data may unsettle the markets. Institute: Tax Freedom Day will be later this year in all countries. SAO: The state did not provide any subsidies for high-speed internet. Economists say that even worse wage developments can be expected in the second quarter. According to the council, the state should send money from the budget to municipalities and regions. Japanese companies' profits in the quarter fell the most since 2009. Government: Swiss economy will experience the worst decline in decades. NBER: The US economy entered recession in February. Slovaks are the most frequent foreign owners of Czech companies. Chinese exports and imports fell in May, imports the most in four years. Analysts: Economic development in the 2nd quarter will be even worse. Of the eight million people infected with coronavirus, one million have been added in a week. Pelhřimovské kartáčovny will launch more products by designer Novague. Survey: Financial bosses in the region are more optimistic than the OECD. Analysts: April was critical for foreign trade, recovery will come. Rhodium: Foreign capital is increasingly interested in Chinese companies. Central Bank: Austrian economy will decline by 7.2 percent this year. Housing Fund changes name to State Investment Support Fund today.

Stock exchanges: According to analysts, gold miners should invest 37 billion USD. Krúpa, together with partners, offers to buy back 29.9 percent of EMH shares.

Finance: Analysts: Today's move by the Czech National Bank will stimulate the mortgage and real estate market. The Czech National Bank has banned Generali Česká pojišťovna from reducing redemption fees for clients. The Hungarian central bank unexpectedly reduced the base interest rate. The Czech National Bank has abolished another limit for mortgages, according to it, banks are resilient. Gold sales in the Czech Republic increased by hundreds of percent during the pandemic. SB: The world economy will fall by 5.2 percent this year due to coronavirus. Banks will pay less into reserves to protect the credit market. Peter Hlaváč became the CEO of the DRFG investment group. Quarterly profit of banks in the US fell by almost 70 percent due to coronavirus. The Czech National Bank left rates unchanged, apparently for a longer period of time. Index: Mutual funds in May reduced the declines from February and March. According to the Czech National Bank, companies drew CZK 7.4 billion from COVID programs as of June 12. MF survey: 90 percent of households have an account, knowledge of APR is low. Moody's downgraded India's rating to just above the speculative band. Survey: Czechs' financial literacy is average within the OECD. Insurance companies report thousands of damages worth hundreds of millions of CZK from June storms. The Russian Central Bank has cut interest rates to a record low. Association advisor: Banks will close branches and lay off employees. BNP Paribas Cardif's net profit rose by six percent last year. Fed: The US economy will decline by 6.5 percent this year. Bloomberg: Kellner's bet on China is backfiring. The Czech National Bank has drawn attention to the activities of Silk Assets Investments. Expert: CNB reports will enable better economic policy responses.