Locked content Ministry sees trade deficit at €200 mln in 2014

Poland’s Economy Ministry has revised the forecast for the country’s foreign trade deficit this year and now sees it at €200 million, the Polish Press Agency reports. An earlier forecast saw the deficit at €3.5 billion. Following May macroeconomic data, the ministry maintained its forecast of total ...

Locked content Lentex buys another 33% in Novita

Floor coverings maker Lentex bought a 33 percent stake in technical nonwovens producer Novita in a tender offer, the deal’s manager DM BDM said in a statement on Monday. Lentex managed to purchase 825,001 shares in Novita as it had planned in the tender. As a result, it increased its stake in the no...

Locked content Torpol to debut on WSE on Tuesday

Railway infrastructure construction company Torpol will debut on the main market of the Warsaw Stock Exchange on Tuesday, the bourse said in a statement. The firm has carried out an IPO worth PLN 183.76 million. Torpol was a subsidiary of troubled construction group Polimex-Mostostal, which sold its...

Locked content Currency reserves at €74.7 billion

As of the end of June 2014, the National Bank of Poland’s official reserve assets stood at €74.7billion compared to €75.5 billion at the end of May, the NBP said. When calculated in US dollars, the reserve assets were $101.9 billion compared to $102.4 billion at end-April. The NBP said that it...
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AMEC Nuclear to advise on Polish nuclear plant

PGE EJ 1, the company responsible for the construction of Poland’s first nuclear power plant, has chosen  AMEC Nuclear UK as owner’s engineer in the process, according to the firm’s statement quoted by ISBnews.

Locked content Jan Kulczyk in Ciech supervisory board

Richest Pole Jan Kulczyk was elected member of the supervisory board at chemical group Ciech during the company’s EGM  on Monday. Other members of the new board are Piotr Augustyniak, Tomasz Mikołajczak, Mariusz Nowak, Artur Olech, Wojciech Stramski and Maciej Tybura. The EGM also approved one chang...
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Sharp to sell Polish production plant – media

Japanese electronics producer Sharp may offload its Polish factory, according to a report from the Nikkei Asian Review. The company wants to stop manufacturing and selling LCD televisions in Europe, where it is said to be losing “billions of yen.”

Locked content Polish link in Spanish corruption scandal

Luis Bárcenas, former treasurer of the Spanish People’s Party, transferred €130 million from a Polish bank account without disclosing the sum in his financial statement. Prosecutors investigating a major corruption scandal in Spain suspect that this operation was part of a money-laundering procedure...

Locked content Gant signs restructuring deal with investor

Troubled property developer Gant said on Monday that has signed a preliminary agreement with an investor on the firm’s restructuring. The investor will perform due diligence and will provide Gant with up to PLN 5 million financing. In case the funding is not sufficient, the investor has agreed to ta...