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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: According to economic analysts, inflation is no longer a problem. EIU: Coronavirus will lead to a decline in economic globalization. NKÚ: The state did not provide any subsidies for high-speed internet. Japanese exports in April fell the most since the global financial crisis. ADB: Coronavirus could cost the global economy $8.8 trillion. Survey: Czechs are worried about the future because of coronavirus. Česká spořitelna: Czechs increased spending after measures were relaxed. Slovaks are the most frequent foreign owners of Czech companies. The Slovak economy has fallen the most since the 2009 crisis. Sales of older homes in the US have fallen the most in a decade. Prymula: Hygienists will do preventive testing in hostels. Survey: 75 percent of exporters cannot solve the impacts of the crisis on their own. Analysts: Budget deficit will exceed CZK 300 billion this year. The Japanese economy has entered a recession, facing the impacts of the coronavirus. The title Entrepreneurial Head won the honey vending machine project. Employers are asking for the forgiveness of social security payments. Chamber: Lack of money is starting to cause tension between companies. Reuters: Central European trading companies see an opportunity in the crisis.

Stock exchanges: The world's deepest mine in South Africa has been closed, 164 workers have been infected. The coronavirus in Israel has also hit the diamond market hard. The price of gold has exceeded USD 1,750, reaching its highest level since 2012.

Finance: Záruční banka is to sign COVID III contracts with banks on Friday. Bloomberg: Kellner's bet on China is backfiring. ČS: Card transactions confirm sharp decline in household consumption. Raiffeisen Bank's profit fell by 22 percent due to coronavirus. ČSOB's net profit fell by 56 percent this year to CZK 2.1 billion. CNB record: Nidetzký and Michl voted for a more moderate rate cut. Domestic holidays are dominated by shorter stays, there is interest in insurance. Survey: Most Europeans shopped more online in April. Gerber to replace Pupala at Monety savings and mortgage bank. The number of corporate bankruptcies in Germany could rise by 54 percent. The Polish central bank has cut its base interest rate to almost zero. Fed: Coronavirus has mostly deprived people with lower incomes of their jobs. Lloyd's: Insurance companies face losses of USD 203 billion due to coronavirus. The British central bank is not considering negative interest rates yet. Raiffeisenbank's net profit fell by nine percent to 808 million CZK. Fed chief: A vaccine will probably be necessary for the economy to fully recover. EAG will issue bonds for 1.5 billion CZK. The money will be used for acquisitions. Fio banka's profit increased by 28 percent this year to 376 million CZK. Czegg Ventures investment fund will distribute a billion between 30 companies. Fed chief does not expect a repeat of the crisis from the 1930s. The compensation decree is to take into account the lack of care and the costs of Covid. Peter Hlaváč became the CEO of the DRFG investment group. Rusnok: I can rule out the introduction of an exchange rate commitment in the foreseeable future. The World Bank has already provided coronavirus assistance in 100 countries.