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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: Analysts: The decline in industry will deepen in April. Farmers: Vegetable prices will probably remain at the current level. Experts: A COVID program should be created for hotels and restaurants. UNWTO: International tourism may fall by up to 80 percent this year. The economy may fall by up to 11 percent this year, according to estimates. The five-day holiday in China will show how much people will return to travel. Czechoslovak Group increased its profit by 54 percent last year to three billion. CZSO: Patent applications filed by Czechs increased to 767 last year. US states are gradually easing restrictions, but the infection is still a threat. According to the central bank, the Australian economy is facing a record recession. Employers are asking for the forgiveness of social security payments. The economy is estimated to have shrunk by three percent year-on-year in the first quarter. The British economy has fallen the most since the financial crisis in 2008. IHS: Activity in British factories fell by a record in April. EIU: Coronavirus will lead to a decline in economic globalization. Bubenik Partners: Digital companies are coping best with the crisis. Year-on-year inflation in Germany fell to its lowest level since 2016 in April. Chamber of Commerce: Lack of money is starting to cause tension between companies. Foreign trade in March disappointed, April will be even weaker. Company bosses would give the country's post-November development a worse two.

Stock markets: Gold rose in price during the pandemic, prices of other commodities fell. The new head of Geomet, which researches lithium, is Pavel Čmelík from ČEZ.

Finance: The Czech National Bank expects an eight percent economic decline this year in its new forecast. Banks will not immediately respond to the CNB's base rate cut. Banks received over a quarter of a million requests for loan repayment deferrals. The ECB improved the conditions of the cheap loan program for banks. Index: The average price of compulsory liability insurance did not change in March. HSBC's profit fell by almost half due to coronavirus. Dědek: The Czech National Bank should take advantage of the situation and reduce the main interest rate to zero. Golden Gate precious metals sellers increased sales by 214 percent this year. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. The share of foreign investors holding Czech bonds fell. Czech Export Bank is looking for a new member of the board of directors. PPF gave 200 million to the fight against coronavirus, aid also went to the USA. ČS, KB, ČSOB and Moneta will be the first to join the smart quarantine. ČBA: The crisis will mainly affect the service sector, a quick response is needed. Erste's profit fell by 38 percent in the first quarter due to coronavirus. UBS increased its profit by 40 percent thanks to its asset management division. Banks gradually began to open their entire branch network. Raiffeisen Bank's profit fell by 22 percent due to coronavirus. Leading Chinese banks increased quarterly profits despite coronavirus. MasterCard's net profit fell by seven percent, but exceeded estimates. Banks in Slovakia will not have to create higher reserves after all. Fitch agency downgraded Italy's credit rating due to coronavirus. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion.