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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: Latin America now has 272,000 coronavirus infections. House committees support laws, MPs propose additional measures. Reuters: Central European businesses see opportunity in crisis. British economy suffers biggest drop since 2008 financial crisis. Australian economy faces record recession, central bank says. Czechoslovak Group boosts profits by 54 percent to three billion last year. According to analysts, inflation is no longer a problem in the economy. Survey: Czechs are worried about the future because of coronavirus. IHS: Activity in British factories fell to a record low in April. Employers ask for social security payments to be waived. The Slovak economy has fallen the most since the 2009 crisis. According to economists, the bottom of the economic decline can be expected in the second quarter. Saudi Arabia will triple the VAT rate due to coronavirus and oil. According to estimates, the economy fell by three percent year-on-year in the first quarter. Survey: 73 percent of CFOs want to make working from home easier. Bubenik Partners: Digital companies are coping best with the crisis. Survey: Larger companies want the Antivirus program to continue. The Slovak Central Bank has worsened the outlook for economic development. UNWTO: International tourism may fall by up to 80 percent this year. Company bosses would give the post-November development in the country a worse two.

Stock exchanges: Gold has become more expensive during the pandemic, while the prices of other commodities have fallen. Metal coating will improve the properties of tools from conventional 3D printers.

Finance: ECB improved the conditions of the cheap loan program for banks. Air Bank's net profit fell by five percent this year to CZK 321 million. The British central bank is not considering negative interest rates yet. The largest Russian bank, Sberbank, saw its quarterly profit fall by 47 percent. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. CNB record: Nidetzký and Michl voted for a more moderate rate cut. AKAT: Mutual funds maintained investor confidence during the pandemic. Komerční banka's profit fell by 16.3 percent in the first quarter to CZK 2.7 billion. The volume of bank loans in March increased by 27 billion to CZK 6.16 trillion. The fewest billionaire companies were created in China this year in six years. Banks in Slovakia saw a significant drop in profits in the first quarter. Erste's profit fell by 38 percent in the first quarter due to coronavirus. ČSOB's net profit fell by 56 percent this year to CZK 2.1 billion. Raiffeisenbank's net profit fell by nine percent to CZK 808 million. The Development Bank supported entrepreneurs with CZK 15 billion by May 3. Norway's central bank surprisingly reduced interest to zero. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. Household debts with banks increased by seven billion in March. Fio banka's profit rose by 28 percent this year to CZK 376 million. Banks received over a quarter of a million applications for loan repayment deferrals. Fed: Coronavirus has mostly deprived people with lower incomes of their jobs. Raiffeisen Bank's profit fell by 22 percent due to coronavirus. Banks will not immediately respond to the CNB's base rate cut.