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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: Survey: Larger companies want Antivirus program to continue. EIU: Coronavirus will lead to a decline in economic globalization. Survey: 70 percent of companies report a drop in orders for May and June. ADB: Coronavirus could cost the global economy $8.8 trillion. Retail sales fell by 8.9 percent in March due to coronavirus. Analysts: Industrial decline will deepen in April. Japanese exports in April fell by the most since the global financial crisis. Survey: 75 percent of exporters cannot solve the impacts of the crisis on their own. Saudi Arabia will triple the VAT rate due to coronavirus and oil. Hamáček: The key is to get an adequate amount of money into the economy. Retail sales fell by 8.9 percent in March due to coronavirus. Analysts: Unemployment data points to economic recession. Economists say the bottom of the economic downturn can be expected in the second quarter. CRIF: 455 companies were added in the Czech Republic in April, the least in a decade. Chamber: Lack of money is starting to cause tension between companies. According to analysts, inflation is no longer a problem in the economy. Sales of older homes in the US have fallen the most in a decade. Restaurants and hotels will open on Monday, wearing masks outdoors will end. Reuters: Central European business firms see an opportunity in the crisis. TI: Billions to support the economy must not go to tax havens.

Stock exchanges: Coronavirus in Israel has also hit the diamond market hard. The price of gold exceeded 1750 USD, reaching its highest level since 2012.

Finance: Fed: Coronavirus has deprived people with lower incomes of their jobs. The Development Bank supported entrepreneurs with 15 billion CZK by May 3. Air Bank's net profit fell by five percent this year to 321 million CZK. PPF Telecom Group subscribed for bonds for almost 14 billion CZK. Fio Bank's profit rose by 28 percent this year to 376 million CZK. Home Credit stopped executions based on arbitration clauses. CNB record: Nidetzký and Michl voted for a more moderate rate cut. The number of corporate bankruptcies in Germany could increase by 54 percent. The British central bank expects the deepest drop in GDP in 300 years. Association: Non-bank companies provided 6.8 percent less money this year. Fed chief does not expect a repeat of the 1930s crisis. Hypoindex: Average mortgage rate fell in April, volume at record high. CNB: March loan growth was affected by individual changes in installments. Fed warns of financial sector vulnerability due to pandemic. Raiffeisenbank's net profit fell by nine percent to CZK 808 million. Banks are completing preparations for providing loans from Covid III. CNB cut rates today and expects the economy to decline by eight percent. Survey: Most Europeans shopped more online in April. Komerční banka's profit fell by 16.3 percent in the first quarter to CZK 2.7 billion. Rusnok: I can rule out the introduction of an exchange rate commitment in the foreseeable future. The compensation decree is to take into account the loss of care and the costs of covid. The Japanese central bank will provide loans for small and medium-sized businesses. Banks have gradually begun to open their entire branch network.