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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: NKÚ: The state did not provide any subsidies for high-speed internet. Restaurants and hotels will open on Monday, wearing masks outdoors will end. Sales of older homes in the US fell the most in a decade. Česká spořitelna: Czechs increased spending after easing measures. Analysts: Economic development in the 2nd quarter will be even worse. Survey: 70 percent of companies report a drop in orders for May and June. Japanese exports in April fell the most since the global financial crisis. Experts: Czech companies can profit from the agreement between the EU and Vietnam. Analysts: April was critical for foreign trade, recovery will come. Analysts: Construction will continue to need public investment. Japanese companies' quarterly profits fell the most since 2009. The number of applications for protection from creditors in the US rose by 48 percent. Central Bank: Austrian economy to shrink by 7.2 percent this year. German economy shrank by 2.2 percent, is in recession. Le Monde: Hebron economy is recovering slowly from the lockdown. NBER: US economy entered recession in February. Industrial production in Germany fell by a record in April. Record decline in industry, trade balance lowest since joining the EU. Survey: 75 percent of exporters cannot solve the effects of the crisis on their own. FT: Central Europe fears the effects of the German economic slowdown. Analysts: Budget deficit will be higher than 300 billion CZK this year.

Finance: Gerber to replace Pupala at Monetic savings and mortgage bank. Fed chief: A vaccine will probably be needed for the economy to fully recover. Analysts: The downgrade of Société Générale will not threaten KB in any way. Zárúční banka is to sign COVID III contracts with banks on Friday. ČMZRB has so far approved assistance to 1,800 entrepreneurs in COVID programs. Fitch agency has worsened the credit rating of the owner of Komerční banka. The share of non-cash transactions has increased by 69 percent. Křetínský's EPH will issue additional bonds for 2.5 billion crowns. The Japanese central bank will provide loans for small and medium-sized businesses. Bloomberg: Křetínský is betting on sectors that others are avoiding. The decree increases healthcare costs to 354 billion crowns. Most banks have not yet signed a cooperation agreement on COVID III. Insurance companies have uncovered fraud worth hundreds of millions of crowns this year. Hypoindex: Average mortgage rate fell in April, volume at record high. The Polish central bank has cut its base interest rate to almost zero. Banks are completing preparations for providing loans from Covid III. The Czegg Ventures investment fund will distribute a billion among 30 companies. The compensation decree is to take into account the loss of care and the costs of covid. The World Bank has already provided coronavirus assistance in 100 countries. Bank loans in April increased by 14 billion to 6.18 trillion CZK. Czech banks have collected 5.5 billion CZK less in fees since 2010. SB: The world economy will fall by 5.2 percent this year due to coronavirus. CNB: New mortgages fell by a billion in April, the crisis did not manifest itself. Gold sales in the Czech Republic increased by hundreds of percent during the pandemic.