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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: Of the eight million people infected with coronavirus, one million have been added in a week. Le Monde: The Hebron economy is only slowly recovering from the lockdown. Italian Prime Minister after questioning about the pandemic: I am completely calm. NBER: The US economy entered a recession in February. Confidence in the economy increased slightly in May after the previous decline. The German economy fell by 2.2 percent, it is in recession. Due to the coronavirus, the order of 59 pct of construction companies was canceled. Roger: Companies pay on average 20 days later than a year ago. Analysts: The construction industry will continue to need public investment. FT: Central Europe fears the effects of the slowdown in the German economy. Economists expect even worse wage developments in the 2nd quarter. Analysts: Economic development in the 2nd quarter will be even worse. Analysts: The one-third decline in industry should not be repeated. SAO: The Ministry of Labor spent billions on applied research, but did not monitor the benefits. Covid is spreading rapidly in America and India, the EU is negotiating a recovery fund. OECD: The global economy will fall by six percent this year due to the virus. Chinese exports and imports fell in May, imports the most in four years. Experts: Czech companies can profit from the agreement between the EU and Vietnam. The Slovak Central Bank expects a double-digit decline in the economy. Industrial production in Germany fell to a record low in April.

Stock exchanges: Krúpa, together with partners, offers to buy back 29.9 percent of EMH shares.

Finance: Gerber will replace Pupala at the savings and mortgage bank Monety. The Russian Central Bank has cut interest rates to a record low. Analysts: Today's move by the Czech National Bank will stimulate the mortgage and real estate market. The Czech National Bank has lifted another limit for mortgages, according to it, banks are resilient. Non-banking register: Corporate debt rose by 16 percent year-on-year. BNP Paribas Cardif's net profit rose by six percent last year. Quarterly profit of banks in the US fell by almost 70 percent due to coronavirus. The RSJ Group has decided to enter Pillow Insurance Company in terms of capital. Bank loans increased by 14 billion in April to 6.18 trillion CZK. Křetínský's EPH will issue additional bonds for 2.5 billion CZK. Insurance companies have uncovered fraud worth hundreds of millions of CZK this year. Survey: Czechs do not complete every 20th payment in e-shops. EAG will issue bonds for 1.5 billion CZK. The money will be used for acquisitions. The decree increases healthcare costs to 354 billion CZK. The ECB has decided to significantly expand its bond purchase program. Coface: The Czech economy will fall by 6.2 percent this year. Insurance companies report thousands of damages worth hundreds of millions of CZK from the June storms. The Czegg Ventures investment fund will distribute a billion among 30 companies. The Czech National Bank has drawn attention to the activities of Silk Assets Investments. The German payment company Wirecard is missing 1.9 billion euros. MF survey: 90 percent of households have an account, knowledge of the APR is low. According to analysts, the Czech National Bank Council will leave rates unchanged on Wednesday. The Guarantee Bank is to sign COVID III contracts with banks on Friday. Gold sales in the Czech Republic increased by hundreds of percent during the pandemic.