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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: According to analysts, inflation is no longer a problem in the economy. Analysts: The decline in industry will deepen even more in April. Latin America already has 272,000 people infected with coronavirus. Saudi Arabia will triple the VAT rate due to coronavirus and oil. Meat production increased slightly in the first quarter, milk production was also higher. State-owned EGAP fell into a loss of 2.38 billion crowns last year. Employers are asking for social security payments to be waived. The British economy has fallen the most since the financial crisis in 2008. Czechoslovak Group increased its profit by 54 percent last year to three billion. CZSO: Patent applications filed by Czechs increased to 767 last year. Unemployment in Germany rose to 5.8 percent in April. Experts: A drop in confidence was expected, the numbers may improve in May. Parliamentary committees support laws, MPs propose further measures. The economy may fall by up to 11 percent this year, according to estimates. Bubenik Partners: Digital companies are coping best with the crisis. IHS: Activity in British factories fell to a record low in April. Hamáček: The key is to get an adequate amount of money into the economy. TI: Billions to support the economy must not go to tax havens.

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: PPF gave 200 million to fight coronavirus, aid also went to the USA. The British central bank expects the deepest drop in GDP in 300 years. Deutsche Bank expects a profit for the first quarter, the market expected a loss. Komerční banka's profit fell by 16.3 percent in the first quarter to 2.7 billion CZK. CNB: March loan growth was affected by individual changes in installments. Japan's central bank has its first female executive director. Dědek: CNB should take advantage of the situation and reduce the main interest rate to zero. ČS's net profit fell by 19.8 percent in the first quarter to 3.2 billion CZK. Banks in Slovakia will not have to create higher reserves after all. Italian bank UniCredit fell into losses due to write-offs. CNB Vice Governor: The Czech Republic has the advantage of not being part of the eurozone. UniCredit Bank in the Czech Republic and Slovakia saw its profit fall by 55 percent in the first quarter. Deutsche Bank remained profitable in the quarter, the market expected a loss. ČS, KB, ČSOB and Moneta will join the smart quarantine first. HSBC's profit fell by almost half due to coronavirus. Large companies are calling for the rapid launch of programs to support them. The Fed left interest rates unchanged, promising extensive support for the economy. American Express has significantly lower profits due to coronavirus. Norway's central bank surprisingly reduced interest rates to zero. Erste's profit fell by 38 percent in the first quarter due to coronavirus. Golden Gate precious metals sellers increased sales by 214 percent this year. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. UBS increased its profit by 40 percent thanks to its asset management division. The share of foreign investors holding Czech bonds fell. AKAT: Mutual funds have maintained investor confidence during the pandemic.