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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: The Chinese boosted the domestic economy during the holiday week. According to institutes, the recovery of the German economy is slowing down. French Vinci offers 5.2 billion euros for part of Spanish ACS. Exporters expect a loss of 300 to 500 billion in exports due to Covid. Americans Milgrom and Wilson won the Nobel Prize in Economics. GLP is building an industrial zone in Ostrava for more than a billion crowns. Proposal: Part of future EU money for employment will be spent on transport. The Ministry of Finance sold bonds for 5.1 billion CZK, interest was greater. Scientists from CzechGlobe oppose the claim that warming will help the economy. Moravian-Silesian companies do not plan to close operations due to coronavirus. Switzerland improved its outlook for this year's economic development. Deloitte in the Czech Republic withdrew a study on the impact of warming on the economy. Survey: Half of smaller companies will have to cut costs. Consumer price growth slowed again, to 3.2 percent in September. IMF: Economic prospects are not as bad as expected. Production of a wood processing sawmill in Štětí was officially launched. Bloomberg: Virus has dragged a record number of large companies into losses in the US.

Stock exchanges: The price of gold fell to a two-month low. Central banks' gold reserves increased by 5,000 tons from a ten-year high. Metal processor Saker's sales fell to 2.321 billion CZK last year.

Finance: Household debts to banks rose to 1.819 trillion CZK in August. CBA: Banks see no reason to renew loan repayment moratorium. Spanish central bank: strict quarantine will worsen the expected crisis. The G20 group extended the moratorium for poor countries. According to Rusnok, the financial market has made great progress since the 1990s. France will stimulate the economy with a package of 42 billion euros next year. JP Morgan increased its profit, while rival Citigroup earned less. Analysts: The price of gold has increased by a quarter this year, silver by a third. The largest Saudi Arabian bank will strengthen its position by taking over a competitor. Arca Capital is completing preparations for the entry of a strategic partner. Morgan Stanley bank significantly increased its profit thanks to trading. The Czech National Bank revoked the license of the Prague currency exchange Changer. Home Credit plunged into a loss of CZK 16.8 billion due to the pandemic. Housing loans increased by 30 percent year-on-year in August to CZK 17 billion. Survey: An unexpected event has befallen 80 percent of Czechs in five years. ECB intensifies work on digital euro. British central bank considers negative interest rates. Banks provide call center operators to trace infected people. Bank of America's profit fell, Goldman Sachs almost doubled it. VZP: Interest in flu vaccination has increased by a third in eight years. Finemo.cz: Approximately 400 seniors have used a reverse mortgage in five years. IMF: Africa needs 1.2 trillion USD to overcome the impacts of Covid. Millions of bank accounts have been added in Latin America during the pandemic. Association: Interest in deferring payments is declining, Czechs are starting to pay off loans. As of September 18, banks have accepted 401,000 applications for deferring payments.