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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: CRIF: 5,491 companies were added in the Czech Republic in the first half of the year, the least in 10 years. Bubenik Partners: Managers' interest in online companies is growing. The US economy fell by 32.9 percent in the second quarter. The economy in the second quarter fell by up to 18 percent, according to estimates. CZSO: The Czech economy fell by 10.7 percent year-on-year in the second quarter. IMF: The US economy faces risks and a long road to recovery. Dlouhý remains at the head of the Czech Chamber of Commerce, his critics have failed. The election of Dlouhý as head of the Chamber of Commerce is welcomed by union leaders and Minister Havlíček. Japanese exports fell by 15.4 percent in the first half of the year, the most since 2009. Prices in industry slowed down, agricultural prices fell significantly. Moravian-Silesian companies spend hundreds of thousands on testing commuters. New application will help Czech companies with exchange rate risk. As of today, EGAP has registered 45 applications for 9.6 billion CZK in COVID plus. COVID rent applications exceeded one billion CZK in less than a month. Association: Czech exports may fall by 500 billion CZK this year. Analysts: The pension system deficit is due to the pandemic and the growth of pensions. 7,688 companies closed down in the Czech Republic in the first half of the year, three percent less. Experts: Interest in investment incentives after the amendment fell according to predictions. CZSO: Confidence in the Czech economy increased significantly in July. Microsoft: A quarter of a billion people may lose their jobs worldwide this year. Meat production in the second quarter fell year-on-year, milk was higher. The manufacturer requests to increase the capacity of certification centers for devices. Unemployment in the EU rose to 7.1 percent in June.

Stock exchanges: The price of gold exceeded 1,900 USD per ounce for the first time in almost nine years. Gold is the most expensive in nine years, silver since 2013.

Finance: The Russian Central Bank has reduced the key interest rate to a new minimum. CBA: The volume of new mortgages increased by 27 percent in June to 18.8 billion. CBA: Almost every Czech now uses electronic banking. Companies organizing trade fairs and concerts are on the verge of collapse, they claim. The Ministry of Finance sold bonds in euros for the first time this year, interest was high. LN: Smartwings have the rating necessary for a loan with a state guarantee. Crisis is an opportunity, writes Kellner in the PPF annual report. Moody's: The pandemic will increase pressure on the income of some local governments, including in the Czech Republic. According to the CNB, companies drew CZK 12 billion from COVID programs as of July 10. Royal Bank of Scotland changes its name to NatWest after 300 years. COVID plus program expanded to include transport and tourism. Erste Group's profit fell by 60 percent in the first half of the year. The ECB did not change interest rates, called on governments to support the economy. Analysts: The price of gold should continue to grow even after breaking the record. Household debts with banks rose to CZK 1.796 trillion in June. Insurance companies: The number of accidents increases by tens of percent in the summer. Goldman Sachs bank has higher profits, exceeding expectations. HN: Liberty Ostrava wants a state guarantee for a loan of CZK 7 billion. Moneta's profit for the first half of the year fell by 40 percent year-on-year to 1.2 billion. Swiss bank Julius Baer had a record profit for the first half of the year.