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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: NGO: State did not provide any subsidies for high-speed internet. Industrial production in Germany fell to a record low in April. Survey: 70 percent of companies report a drop in orders for May and June. Profits of Japanese companies in the quarter fell the most since 2009. Orders were canceled at 59 percent of construction companies due to coronavirus. Chinese exports and imports fell in May, imports the most in four years. Record decline in industry, trade balance the lowest since joining the EU. Analysts: Construction will continue to need public investment. Japanese retail sales fell the most in more than 20 years. Restaurants and hotels will open on Monday, wearing masks outdoors will end. Analysts: Economic development in the 2nd quarter will be even worse. Analysts: A one-third decline in industry should not be repeated. Japanese exports in April fell the most since the global financial crisis. Indian economic growth slowed due to coronavirus. The Japanese economy has entered a recession, facing the impacts of coronavirus. According to the council, the state should send money from the budget to municipalities and regions. According to economists, the bottom of the economic decline can be expected in the second quarter. Confidence in the economy increased slightly in May after the previous decline. ADB: Coronavirus could cost the global economy 8.8 trillion USD. Analysts: The budget deficit will be higher than 300 billion CZK this year.

Stock exchanges: Coronavirus in Israel has also hit the diamond market hard. The world's deepest mine in South Africa has been closed, 164 workers have been infected.

Finance: Home Credit has stopped executions based on arbitration clauses. Analysts: Gold is the most expensive in seven years, the price may continue to rise. Fitch agency has worsened the credit rating of the owner of Komerční banka. BNP Paribas Cardif insurance company's net profit increased by six percent last year. The World Bank has already provided coronavirus aid in 100 countries. Zárúční banka is to sign COVID III contracts with banks on Friday. German consumers can take out a loan with negative interest. CNB draws attention to the activities of ESOS International. Analysts: Société Générale's rating downgrade will not threaten KB in any way. Gold is back at seven-year records, the reason still being concerns about the pandemic. The compensation decree is to take into account the loss of care and the costs of covid. The Polish central bank has reduced its base interest rate to almost zero. The ECB has decided to significantly expand its bond purchase program. Fio banka's profit increased by 28 percent this year to CZK 376 million. The Czech National Bank drew attention to the activities of Silk Assets Investments. Insurance companies have uncovered fraud worth hundreds of millions of crowns this year. The decree increases healthcare costs to CZK 354 billion. The Fed warns of the vulnerability of the financial sector due to the pandemic. Association advisor: Banks will close branches and lay off employees. The Czech National Bank has banned Generali Česká pojišťovna from reducing redemption fees for clients. The Japanese central bank will provide loans for small and medium-sized companies. The Czegg Ventures investment fund will distribute a billion among 30 companies. The number of corporate bankruptcies in Germany could increase by 54 percent.