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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: Association: Losses for carpenters will continue for another three months. Inflation will continue to fall, according to analysts. Governor: Australian economy will weaken the most since the 1930s. Handelsblatt: Coronavirus is throwing developing countries back into poverty. Survey: 82 percent of construction workers have financial losses due to coronavirus. Dačice-based THK has extended the shutdown, other South Bohemian companies are also standing. ČEPS's pre-tax profit increased by more than a fifth last year to CZK 4 billion. Spain has eased coronavirus measures, people are allowed to go to work. CZSO: Industrial prices slowed down year-on-year growth to 0.4 percent in March. The committee assessed the Ministry of Finance's economic development estimates as optimistic. According to most analysts, year-on-year inflation in March fell. At least 300,000 Africans will die from coronavirus, according to UN model. Study: Construction costs in Prague are the second highest in the region. PwC: Four out of five Czech companies expect a decline in revenue or profits. AP: China is trying to revive the economy, but consumers are saving. Bundesbank: Germany will recover from the recession slowly. The Budget Council estimated the public finance deficit at 4.3 percent of GDP. 1.1 million people participated in the EET lottery, which ends on Wednesday. EY: The vast majority of businesses expect a decline in sales in April. Russia reports 3,448 new coronavirus infections, another record. Inflation is likely to continue to fall, having fallen to 3.4 percent in March. Retail sales in the US fell by a record 8.7 percent. Nanotechnologists want to change the law, criticize the plan with Honeywell. Fidelity: Revenues of global companies could decrease by 44 percent this year. WSJ: Why won't seasonal flu sink the economy like covid-19?. Digital companies want to support the recovery of the Czech economy. Reuters: India and Pakistan already want to resume parts of the economy. WSJ: Pandemic may sever ties between the Chinese and US economies.

Stock exchanges: Analysts: Unprecedented drop in oil prices, will stabilize in the summer. ČEZ management proposes a dividend of 34 CZK per share, last year it was 24 CZK. WTI oil fell by 306 percent, sellers still have to pay.

Finance: Some entrepreneurs in the tourism industry in South Moravia will quit. Insurance companies have started to open some of their branches. Large banks have received almost 200,000 requests for loan repayment deferrals. Bank of America has lower profit due to loan loss reserves. IMF economist: 100 countries are asking for help due to the pandemic. Survey: The pandemic is complicating the lives of three-fifths of Czechs. Morgan Stanley's quarterly profit fell by 32 percent. Large American banks are seeing a sharp drop in profits, they are building reserves. China's central bank has cut its base interest rate. Greece is selling new bonds, the ECB may also buy them. Bank of America and Goldman earned significantly less due to reserves. Banks are still not counting on increasing limits for contactless payments. G7 officials supported temporary debt relief for poor countries. Czech Solek received additional billions for the construction of power plants in Chile.