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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: Confidence in the Czech economy fell by a record 19.6 points in April. CZSO: Patent applications filed by Czechs increased to 767 last year. AP: China is trying to revive the economy, but consumers are saving. The economy is being crushed by the coronavirus, jobs are disappearing and the outlook is not good. Survey: One fifth of companies consider government support sufficient. The economy may fall by up to 11 percent this year, according to estimates. Fidelity: Revenues of global companies could decrease by 44 percent this year. CRIF: The measures have prepared companies and entrepreneurs for hundreds of billions of CZK. The Ministry of Finance sold bonds for 73.9 billion CZK today, interest continues. CRIF: The number of closed businesses during the quarantine period has dropped significantly. The committee assessed the Ministry of Finance's economic development estimates as optimistic. The Budget Council estimated the public finance deficit at 4.3 percent of GDP. Experts: A COVID program should be created for hotels and restaurants. Trudeau: The government will support the energy sector with $1.7 billion. CZSO: Industrial prices slowed year-on-year growth to 0.4 percent in March. Year-on-year inflation in Germany fell to its lowest level since 2016 in April. Czechoslovak Group increased its profit by 54 percent last year to three billion. EY: The number of mergers and acquisitions in the Czech Republic fell by 13 percent last year to 282. There is interest in new lung ventilators in a number of countries, said the MICo company. YPO: 11 percent of company bosses around the world are afraid of bankruptcy. IHS: Business activity in the US has fallen to a record low. Survey: Seven percent of people lost their jobs during the epidemic. Handelsblatt: Coronavirus is plunging developing countries back into poverty. EY: The vast majority of companies expect a decline in sales in April. The Swiss economy is likely to shrink the most in 45 years due to the coronavirus. ČEPS's pre-tax profit rose by more than a fifth last year to CZK 4 billion.

Stock exchanges: The price of gold in euros has exceeded 1,600 euros for the first time. Forbes: Where to go next when the price of oil has fallen below zero for the first time.

Finance: Index: The average Czech investor in funds has lost 10 percent this year. Deutsche Bank expects a profit for the first quarter, the market expected a loss. Large companies are calling for the rapid launch of programs to support them. Dědek: The Czech National Bank should take advantage of the situation and reduce the main interest rate to zero. Index: The average price of third-party liability insurance did not change in March. The Japanese central bank is introducing massive support measures. Leading Chinese banks increased quarterly profits despite the coronavirus. Michl will propose to the central bank to reduce the rate to 0.5 percent. Banks will join smart quarantine at the beginning of next week. Deutsche Bank remained profitable in the quarter, the market expected a loss. Vice Governor of the Czech National Bank: The Czech Republic has the advantage of not being part of the eurozone. ČS, KB, ČSOB and Moneta will join smart quarantine first. S&P agency confirmed the ratings of Italy and Britain. China's central bank has lowered the base interest rate. Insurance companies have begun to open some of their branches. Hypoindex: The average mortgage rate rose to 2.45 percent in March. The volume of transactions supported by the export bank fell by a third last year.