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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: Maláčová: The Ministry of Labour and Social Affairs has a plan for opening social services. Experts: The decline in confidence was expected, the numbers may improve in May. Another 5.2 million people applied for unemployment benefits in the US. At least 300,000 Africans will succumb to coronavirus according to the UN model. The famous Beirut hotel Le Bristol has finally closed. CRIF: The number of businesses closed during the quarantine period has dropped significantly. American states are gradually easing restrictions, but the infection is still a threat. The Fiscal Council estimated the public finance deficit at 4.3 pct. GDP. The Ministry of Finance sold bonds for CZK 73.9 billion today, interest continues. EY: The number of mergers and acquisitions in the Czech Republic fell by 13 percent last year to 282. YPO: 11 percent of company bosses around the world fear bankruptcy. The economy is being crushed by the coronavirus, jobs are disappearing and the outlook is not good. Trudeau: The government will support the energy sector with $1.7 billion. The economy may fall by up to 11 percent this year, according to estimates. Nanotechnologists want a change in the law, criticize the plan with Honeywell. Breweries do not want to pay CZK 100 million in tax for spilled beer. EIU: The world economy could go through a double recession. Governor: The Australian economy will weaken the most since the 1930s. Association: Losses for carpenters will continue for another three months. Bundesbank: Germany will recover slowly from the recession. Survey: One fifth of companies consider government support sufficient. Prague-based Diametral has started producing its own face shields. CZSO: Industrial prices slowed year-on-year growth to 0.4 percent in March. Analysis: Coronavirus measures affect up to a third of companies. IHS: Business activity in the US has fallen to a record low. WSJ: The pandemic may sever ties between the Chinese and US economies.

Stock exchanges: The price of gold in euros has exceeded 1,600 euros for the first time. Analysts: The drop in oil prices is unprecedented, it will stabilize in the summer.

Finance: Index: The average price of compulsory insurance did not change in March. Insurance companies have started to open some of their branches. Patria: The budget deficit this year may be over half a trillion crowns. Czech Solek has received additional billions for the construction of power plants in Chile. CRIF Group has completed the acquisition of Strands. The Czech Republic should now focus on returning to normal life, says Dušek. The Japanese central bank is introducing massive support measures. Credit Suisse increased profits, but warned of the possible impacts of the virus. Bank of America and Goldman earned significantly less due to reserves. Large companies are calling for the rapid launch of programs to support them. UBS increased profits by 40 percent thanks to its asset management division. The ECB will also start accepting lower-quality bonds as collateral due to the virus. Index: The average Czech investor in funds lost 10 percent this year. ČS, KB, ČSOB and Moneta will first join the smart quarantine. Banks will join the smart quarantine at the beginning of next week. ČS: Payments in quarantine fell by a fifth, consumption by up to 15 percent. The volume of transactions supported by the Export Bank fell by a third last year.