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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: Analysts: The industrial decline will deepen in April. Retailers' sales fell by 8.9 percent in March due to the coronavirus. EIU: Coronavirus will lead to a decline in economic globalization. CZSO: Patent applications filed by Czechs increased by 767 last year. According to analysts, inflation is no longer a problem in the economy. Unemployment in Germany rose to 5.8 percent in April. Bloomberg: Poland, the only EU country to survive 2008, will succeed again. According to the central bank, the Australian economy is facing a record recession. According to estimates, the economy fell by three percent year-on-year in the first quarter. Retailers' sales fell by 8.9 percent in March due to the coronavirus. Hamáček: The key is to get an adequate amount of money into the economy. The Slovak Central Bank has worsened the outlook for economic development. The five-day holiday in China will show how much people will return to traveling. The economy may fall by up to 11 percent this year, according to estimates. A German economist recommends eliminating VAT on some goods for recovery. Saudi Arabia will triple the VAT rate due to coronavirus and oil. Farmers: Vegetable prices will probably remain at their current level. Experts: A COVID program should be created for hotels and restaurants. The British economy has fallen the most since the financial crisis in 2008. Reuters: Central European trading companies see an opportunity in the crisis.

Stock exchanges: Goldman Sachs: Oil will rise in price by more than 100 percent by next year. Diamo is preparing a project to explore a gold deposit in the Jesenické region.

Finance: Golden Gate precious metals dealers increased sales by 214 pct this year. Banks will not immediately respond to the CNB's base rate cut. Banks have gradually begun to open their entire branch network. Leading Chinese banks have increased quarterly profits despite the coronavirus. Lloyd's: Insurance companies are at risk of losses of 203 billion USD due to the coronavirus. Deutsche Bank remained profitable in the quarter, the market expected a loss. AKAT: Mutual funds have maintained investor confidence during the pandemic. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by 55 percent in the first quarter. ČSOB's net profit fell by 56 percent this year to CZK 2.1 billion. The CNB cut rates today and expects the economy to decline by eight percent. PPF gave 200 million to the fight against coronavirus, aid also went to the USA. Banks in Slovakia saw a significant drop in profits in the first quarter. The Development Bank supported entrepreneurs with CZK 15 billion by May 3. Analysis: Single-parent households are the most economically vulnerable. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. Komerční banka's profit fell by 16.3 percent in the first quarter to CZK 2.7 billion. Erste's profit fell by 38 percent in the first quarter due to coronavirus. The British central bank expects the deepest drop in GDP in 300 years. MasterCard's net profit fell by seven percent, but it exceeded estimates. The British central bank is not yet considering negative interest rates. The Japanese central bank has its first female executive director. The Norwegian central bank surprisingly cut interest rates to zero. The Czech National Bank expects a decline in public finances to a deficit of 4.8 percent of GDP this year.