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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: Prymula: Hygienists will conduct preventive testing in dormitories. Older home sales in the US fell the most in a decade. Japanese companies' quarterly profit fell the most since 2009. Japanese exports in April fell the most since the global financial crisis. Česká spořitelna: Czechs increased spending after easing measures. SB: 60 million people will find themselves in extreme poverty due to the pandemic. Analysts: April was critical for foreign trade, recovery will come. Analysts: The one-third decline in industry should not be repeated. Survey: 70 percent of companies report a drop in orders for May and June. Japanese retail sales fell the most in more than 20 years. The Japanese economy entered a recession, facing the impacts of the coronavirus. The US is working to reduce its dependence on supplies from China. Record decline in industry, the lowest trade balance since joining the EU. Due to the coronavirus, orders were canceled for 59 percent of construction companies. Industrial production in Germany fell to a record low in April. Analysts: The budget deficit will be higher than CZK 300 billion this year. Chinese exports and imports fell in May, imports the most in four years. Confidence in the economy increased slightly in May after the previous decline. Central Bank: The Austrian economy will fall by 7.2 percent this year.

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

Finance: The Polish central bank has cut its base interest rate to almost zero. Survey: Czechs do not complete every 20th payment in e-shops. Index: Mutual funds reduced the losses from February and March in May. Most banks have not yet signed a cooperation agreement on COVID III. HN: Disclosure of companies in COVID III does not violate banking secrecy. Fitch agency worsened the credit rating of the owner of Komerční banka. The ECB decided to significantly expand the bond purchase program. Association advisor: Banks will close branches and lay off workers. Expert: CNB reports will enable better economic policy responses. EAG will issue bonds for CZK 1.5 billion. It will use the money for acquisitions. Křetínský's EPH will issue additional bonds for CZK 2.5 billion. Gold again at seven-year records, still due to concerns about the pandemic. The Japanese central bank will provide loans for small and medium-sized companies. BNP Paribas Cardif Insurance Company's net profit increased by six percent last year. Insurance companies have uncovered fraud worth hundreds of millions of crowns this year. Bank loans increased by 14 billion in April to 6.18 trillion CZK. CNB: New mortgages fell by a billion in April, the crisis did not manifest itself. Domestic holidays are dominated by shorter stays, there is interest in insurance. Survey: Most Europeans shopped more online in April. According to experts, the global economy will not recover until 2022 at the earliest. Záruční banka is to sign COVID III contracts with banks on Friday. Analysts: The downgrade of Société Générale will not threaten KB in any way. Czech banks have collected 5.5 billion CZK less in fees since 2010. Czegg Ventures investment fund will distribute a billion among 30 companies.