8 860,00 USD

ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Experts: The decline in confidence was expected, the numbers may improve in May. There is interest in new lung ventilators in many countries, the company MICo said. Survey: One fifth of companies consider government support sufficient. Breweries do not want to pay CZK 100 million in tax for spilled beer. Governor: Australian economy will weaken the most since the 1930s. Association: Losses for carpenters will continue for another three months. Confidence in the Czech economy fell by a record 19.6 points in April. The Budget Council estimated the public finance deficit at 4.3 percent of GDP. Entrepreneurs consider the government's proposal for easing too conservative. The Ministry of Finance sold bonds for CZK 73.9 billion today, interest continues. Inflation is likely to continue to fall, having fallen to 3.4 percent in March. The economy is being crushed by the coronavirus, jobs are disappearing, and the outlook is not good. McKinsey: Unemployment in Europe could double. Survey: Seven percent of people have lost their jobs during the epidemic. EIU: The world economy could go through a double recession. Survey: 80 percent of Czech exporters are having problems with orders. YPO: 11 percent of company bosses around the world are afraid of bankruptcy. Survey: The Eurozone is in the deepest recession in its existence. More than a quarter of entrepreneurs are having serious problems due to the coronavirus. Prague-based company Diametral has started producing its own face shields. Trudeau: The government will support the energy sector with $1.7 billion. AP: China is trying to revive the economy, but consumers are saving. Digital companies want to support the recovery of the Czech economy. Russia reports 3,448 new coronavirus infections, another record. Ministry of Finance proposes exemption of spilled beer from excise tax. Beirut's famous Le Bristol hotel has finally closed.

Stock exchanges: Gold price has climbed to its highest level since 2012. Gold price in euros has exceeded 1,600 euros for the first time. Analysts: Unprecedented drop in oil prices, will stabilize in the summer.

Finance: Czech Solek has received additional billions to build power plants in Chile. Banks will join smart quarantine at the beginning of next week. J&T Bank's net profit rose by 52 percent last year to CZK 3.2 billion. Credit Suisse increased profit, but warned of possible impacts of the virus. Large American banks are seeing a sharp drop in profits, creating reserves. Insurance companies have begun to open some of their branches. S&P agency affirmed Italy and Britain's ratings. ECB will start accepting lower-quality bonds as collateral due to the virus. China's central bank has cut its base interest rate. American Express has significantly lower profits due to the coronavirus. China's central bank is introducing new stimulus measures. Morgan Stanley's quarterly profit fell by 32 percent. Czech Republic: Payments in quarantine fell by a fifth, consumption by up to 15 percent. Large banks received almost 200,000 requests for loan repayment deferrals. Insurance companies did not record increased interest in life insurance. G7 officials supported temporary debt relief for poor countries.