Locked content Gas trade soars on TGE

The trade volume of gas-related instruments on the Polish Power Exchange (TGE) amounted to 5.22 million MWh in the first half of 2014, according to data from the bourse quoted by ISBnews. The figure was more than eleven times higher than the one recorded in H1 2013. On the futures market, gas trade ...

Locked content Belka shouldn’t run for the second term – MPC member

Jerzy Hausner, a member of the Monetary Policy Council said in an interview with Tygodnik Powszechny that NBP head, Marek Belka, shouldn’t run for his second term, when his current one expires in 2016. “I expect that he will publicly state what he wants to achieve over the course of the next two yea...

Locked content Budget deficit at PLN 25.36 bln

Poland’s budget deficit amounted to PLN 25.36 billion at the end of June 2014, or 52.9 percent of the full-year plan, according to data from the Ministry of Finance quoted by ISBnews. In May the deficit was at PLN 22.36 billion. Budget revenues stood at PLN 136.26 billion, or 49.1 percent of the pla...

Locked content Provident eyes online loans – paper

Consumer finance group IPF, the owner of the Provident brand, is mulling on the introduction of loans available online, Puls Biznesu wrote. The company has created a team to analyze this option for different types of offered consumer loans, the daily claims. The idea is said to have come from the gr...

Locked content Warsaw to host CEE presidents summit

The presidents of nine CEE countries will meet in Warsaw on July 22, Polish Radio reports. Poland’s President Bronisław Komorowski announced the summit on Tuesday after meeting his Slovak counterpart Andrej Kiska. Heads of state of all Visegrad Group countries, as well as the presidents of the Balti...
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Inflation inches up to 0.3% y/y

CPI inflation in Poland amounted to 0.3 percent year-on-year in June, the Central Statistical Office (GUS) said in a data release on Tuesday. In month-on-month terms prices remained unchanged.

Locked content EC approves BGŻ takeover

The European Commission has approved the BNP Paribas Fortis takeover of Bank Gospodarki Żywnościowej. The Fremch lender bought 98.5 percent stake in BGŻ for PLN 4.2 billion in December 2013, from Dutch peer Rabobank. The EC did not have any objections to the merger as “total market share of both len...

Locked content J.W. Construction prospectus approved

The Polish Financial Supervision Authority has approved the issue prospectus of developer J.W. Construction Holding. The company, listed on the Warsaw Stock Exchange since 2007, plans the issue of C series shares. The developer has set the issue price at PLN 3.15 per share. Mercurius Dom Maklerski a...

Locked content Think tank ups GDP growth forecast

The Gdańsk Institute for Market Economics (IBnGR) has raised its forecast for Poland’s 2014 GDP growth from 3.1 to 3.5 percent, according to a report quoted by the Polish Press Agency. In each quarter of this year, growth will be higher, reaching 3.6 percent year-on-year in the last three months, th...