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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: Agricultural profit was 17.5 billion CZK last year, production was record high. Over 100 cases of coronavirus infection appeared in Germany in a day. The number of infected people in the world is growing, the situation in China is stabilizing. Coronavirus will cost Italian tourism up to billions of euros. 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. Analysts: Inflation will remain high, but then it will fall faster. The Turkish economy has recovered from the recession, production is also increasing. Chamber: Possible quarantine measures will be a problem for the Czech economy. OECD sharply worsened the outlook for global economic growth. According to Raiffeisenbank, the economy will grow less due to coronavirus. Bloomberg: Coronavirus could cost the world 2.7 trillion USD. The average wage increased to 36,144 CZK, but the pressure on growth is easing. The US economy maintained a growth rate of 2.1 percent in the fourth quarter. CNBC: The eurozone faces a decade of negligible growth at best. IMF economist called on governments to provide targeted support to the economy. Newspapers in Britain, Germany and France are devoted to the spread of coronavirus. Analysts: The negative impact of coronavirus on the economy is escalating. A South Bohemian company produces packaging for parts of the Ariane 6 rocket. The Russian tourism industry is feeling the effects of coronavirus, asking for help. Economic growth slowed to 2.4 percent last year, and will probably fall further this year. Analysts: Importers and hotels may have problems due to coronavirus. PwC: Czech women improved their employment the most out of all OECD countries. Analysts: Coronavirus will drag the Italian economy into recession. Prices accelerated growth to 3.7 percent in February, it could be the peak. Chamber: Quarantine for a tenth of workers would cost 23.5 billion CZK. The growth of the British economy unexpectedly stopped in January. Companies in the Zlín region are limiting business trips due to coronavirus.

Stock exchanges: The profit of the Russian miner Norilsk Nickel increased by 95 percent last year. Gold added over three percent after an unexpected interest rate cut in the US. Industrial metal prices are falling significantly due to coronavirus fears.

Finance: The net profit of the four largest banks increased to 62 billion last year. Household debts with banks increased to 1.76 trillion CZK in January. The quarterly profit of the largest Russian bank Sberbank increased by a fifth. Reuters: ECB held extraordinary talks on the impacts of coronavirus on Tuesday. The Canadian central bank has cut interest rates due to coronavirus. The government will discuss support for businesses due to coronavirus for 600 million. European banks are sending employees home due to coronavirus. The Czech National Bank will monitor the financial problems of self-employed people due to coronavirus. Aon and Willis will create the largest insurance broker. The bank has applied for a permit to operate the National Development Fund. The share of foreign investors holding Czech bonds has increased. CRIF: Total debt of the Czech population increased by 5.8 pct. to 2.45 trillion. The Czech Forests lost about one billion last year, they started using credit. The British central bank has reduced interest to a minimum of 0.25 percent.