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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 Czech Statistical Office will announce how industry, trade and construction performed in July. Growth in confidence in the Czech economy accelerated in September. Statisticians confirmed a 12.1 percent decline in the Slovak economy. Prices were 3.3 percent higher in August compared to last year, alcohol became more expensive. Duha presented ecological proposals for the recovery plan. Bisnode: 81 percent of companies have not yet published their results for last year. Inflation in Slovakia was the lowest in August since the summer of 2017. IDEA: The abolition of the super gross wage is least advantageous for low-income earners. Deloitte: Warming will have a positive impact on the Czech economy. Cuba is said to be planning the first official devaluation of the peso since 1959. The number of corporate insolvencies in Germany fell in the first half of the year. In August, 881 companies were added in the Czech Republic, 61 fewer than in July. Analysts: Inflation may be the highest for the whole year since 2008. Deutsche Bank: The economy will fully recover by the middle of next year. Industry analysis: 70 percent of companies expect a decline in profitability this year. Survey: Growth in business activity in the eurozone has almost stopped. Developer CTP reduced profit by 29 percent to CZK 2.7 billion, revenues increased. JCDecaux started arbitration with the Czech Republic over the rental of advertising space. The Japanese economy fell more significantly than originally estimated. The self-employed person of the year in the Ústí nad Labem region is engaged in the restoration of monuments. Analysts: July retail results were a positive surprise. Most Czech companies do not prohibit workers from traveling abroad. Dlouhý: Entrepreneurs are most worried about blanket measures. Bloomberg: The world's most stable currency protects exports from Taiwan. 62 applications for 645 million CZK have been filed for the COVID spa program.

Stock exchanges: Miners have seen a 30 percent drop in demand this year. American battery manufacturer QuantumScape is going public.

Finance: ČSOB was fined 1.5 million CZK by the Czech National Bank for exchanging banknotes. J&T Banka is preparing assistance for unsecured creditors of the Arca group. According to the co-owner, the Arca group will not pay all its obligations. Atradius: The number of companies in insolvency worldwide will increase by 26 percent this year. Banks are not yet preparing to close branches due to the coronavirus. The ECB left monetary policy, including interest rates, unchanged. Raiffeisenbank will take control of Raiffeisen Building Society. Reuters: Caixabank and Bankia have agreed in principle to merge. ČMZRB approved support of 38 billion CZK by August, 2.5 times more year-on-year. Banks accepted 400,000 applications for deferral of installments as of September 11. As expected, the Fed left interest rates unchanged, improved the outlook. According to estimates, the Czech National Bank will leave interest rates unchanged on Wednesday. EY: 37 percent of Czechs are unaware of cyber risks. Hypoteční banka and ČMSS will have the same management from next year. Survey: Czechs most often save 1,000 to 3,000 crowns per month. The Czech National Bank Council unanimously left interest rates unchanged today. Reuters: Deutsche Bank will close a fifth of its branches due to the virus. PPF Telecom Group issued seven-year bonds for half a billion euros.