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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: Industry continued its poor performance at the end of the year in January. Economic growth slowed to 2.4 percent last year, and is likely to decline further this year. Entrepreneur of the Year award went to Kiwi.com founder Oliver Dlouhý. The US economy maintained growth of 2.1 percent in the fourth quarter. The Japanese economy declined at a rate of 7.1 percent at the end of the year. Cross-border mergers of companies in the Czech Republic are increasing, there were 48 last year. The OECD has significantly worsened the outlook for global economic growth. Saudi Arabia's economy grew by only 0.3 percent last year. Bloomberg: A rare double shock is gripping the global economy. Chamber: Quarantine for a tenth of workers would cost CZK 23.5 billion. Activity in the Chinese service sector fell to a record low in February. Israel is counting on ten billion shekels to help the economy. CNBC: The Eurozone faces a decade of negligible growth at best. G7 countries are ready to support the economy if necessary. Coronavirus will cost Italian tourism up to billions of euros. Analysts: Inflation will remain high, but will then fall faster. Companies in the Zlín region are limiting business trips due to coronavirus. The Russian tourism industry is feeling the effects of coronavirus, asking for help. According to analysts, the pressure on wage growth in the economy is easing. PwC: Czech women have improved their employment the most out of all OECD countries. The OECD has sharply worsened the outlook for global economic growth. Bankers: The impacts of coronavirus on the economy are already visible. The IMF economist called on governments to provide targeted support to the economy. Moravian-Silesian companies are trying to accommodate employees with children. The number of infected people in the world is growing, the situation in China is stabilizing. The Turkish economy has recovered from the recession, production is also increasing.

Stock exchanges: Palladium has written off up to 28 percent due to coronavirus, gold four percent. The Russian Central Bank is preparing an intervention to support the currency. Gold has added over three percent after an unexpected interest rate cut in the US. Gold has risen above $1,700, the most expensive since 2012.

Finance: ČSSD wants help for people who will lose their income due to coronavirus. Companies are allowing employees to work from home and canceling business trips. European banks are sending employees home due to coronavirus. Aon and Willis will create the largest insurance broker. The Czech Forests lost about one billion last year, they started using credit. Fed: Coronavirus has begun to affect the US economy. CRIF: Total debt of the Czech Republic's population increased by 5.8 pct. to 2.45 trillion. The Czech National Bank fined Komerční banka two million CZK. Rusnok: Changing the CNB's rates is not a very effective tool now. The share of foreign investors holding Czech bonds has increased. The deputy head of the IMF will be American Geoffrey Okamoto. The Fed surprisingly reduced the base interest rate by half a percentage point. People in the Hradec Králové region most often take out a home loan. Reuters: The ECB held extraordinary talks on the impacts of coronavirus on Tuesday. The largest Russian bank, Sberbank, saw its quarterly profit increase by a fifth.