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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: Japanese companies' profit in the quarter fell the most since 2009. Česká spořitelna: Czechs increased spending after easing measures. Analysts: April was critical for foreign trade, recovery will come. Survey: 70 percent of companies report a drop in orders for May and June. Japanese exports in April fell the most since the global financial crisis. SB: 60 million people will find themselves in extreme poverty due to the pandemic. The growth of the Indian economy has slowed down due to the coronavirus. Economists expect even worse wage developments in the second quarter. Prymula: Hygienists will conduct preventive testing in hostels. 59 percent of construction companies have had their orders canceled due to the coronavirus. Chinese exports and imports fell in May, imports the most in four years. Analysts: The one-third decline in industry should not be repeated. The Slovak Central Bank expects a double-digit decline in the economy. Analysts: Earlier publication of macro data may unsettle markets. OECD: The global economy will fall by six percent this year due to the virus. Analysts: The budget deficit will be higher than CZK 300 billion this year. Analysts: The construction industry will continue to need public investment. Experts: Czech companies can profit from the agreement between the EU and Vietnam. SAO: The state did not provide any subsidies for high-speed internet. The German economy fell by 2.2 percent, it is in recession. Slovaks are the most frequent foreign owners of Czech companies.

Finance: Survey: Czechs do not complete every 20th payment in e-shops. The share of cashless transactions increased by 69 percent. Index: Mutual funds in May reduced the losses from February and March. Most banks have not yet signed the COVID III cooperation agreement. The ECB has decided to significantly expand the bond purchase program. According to experts, the global economy will recover in 2022 at the earliest. The Czech National Bank of the Czech Republic has so far approved assistance to 1,800 entrepreneurs in COVID programs. German consumers can take out a loan with negative interest. The Fed chief does not expect a repeat of the crisis of the 1930s. The Fed chief: A vaccine will probably be necessary for the economy to fully recover. Analysts: The downgrade of Société Générale will not threaten KB in any way. Domestic holidays are dominated by shorter stays, there is interest in insurance. The compensation decree is to take into account the loss of care and the costs of covid. Czech banks have collected CZK 5.5 billion less in fees since 2010. The World Bank has already provided coronavirus aid in 100 countries. Moody's has lowered India's rating to just above the speculative band. Gerber will replace Pupala at Monety savings and mortgage bank. Bank loans rose by CZK 14 billion in April to CZK 6.18 trillion. Association advisor: Banks will close branches and lay off workers. Survey: Most Europeans shopped more online in April. Non-banking register: Corporate debt rose by 16 percent year-on-year. Insurance companies have uncovered fraud worth hundreds of millions of crowns this year. Fitch agency has downgraded the credit rating of the owner of Komerční banka. Gold sales in the Czech Republic have increased by hundreds of percent during the pandemic.