Locked content PGNiG to focus on its Norwegian assets

State-controlled gas giant Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) will focus its exploration activity on its assets in Norway, company’s PR manager Robert Papliński said in Rzeczpospolita daily. In the first quarter of this year, the company will begin extraction on its Gina Krog depo...

Global economy to grow by 3.1% this year – report

Global GDP will grow by 3.1 percent this year and 3.5 percent in 2018 according to a forecast published by the UK’s National Institute of Economic and Social Research. In 2016, global GDP grew by 3 percent, the slowest growth since the 2009 recession.

Morawiecki hopes for over 3% GDP growth this year

Poland’s Finance Minister Mateusz Morawiecki, said that this year’s GDP growth will exceed 3 percent. “I am very pleased that we are moving in a very positive direction and growth this year (…) will not only exceed 3 percent but it will be very solid and will be based on investment...

Locked content NBP to issue PLN 500 note this month

Poland’s Central Bank (NBP) will issue a new PLN 500 note on February 10. The note will have King Jan III Sobieski, maintaining the chronological order of the series which honors Polish kings. The initial designs were made back in 1994. The note was designed by Andrzej Heidrich who created oth...

Locked content T-Bull mulling moving to WSE’s main market

Mobile game developer T-Bull is planning to switch to the Warsaw Stock Exchange’s main market this year, company’s CEO Grzegorz Zwoliński told the ISBnews press agency. The company has been listed on the WSE small-cap NewConnect market since October of last year. Zwoliński added that in ...

Locked content PKP Intercity with PLN 47 mln profit in 2016

Polish state-owned passenger railway operator PKP Intercity posted a PLN 47 million profit in 2016, compared to a PLN 57 million loss the year before, the company announced in a market filing. Revenues increased by 24 percent o PLN 1.77 billion. Last year, the group had 38.5 million passengers, whic...

Locked content LPP with 22% revenue growth in January, margin down by 35%

WSE-listed fashion retailer LPP, owner of such brands as Reserved, Cropp and House among others, increased its group sales revenues by some 22 percent year-on-year to PLN 508 million in January, however the gross margin fell by 7 pps y/y to 35 percent, the company said in a market filing. The margin...

Locked content LOT to post a profit for 2016

State-owned Polish airlines LOT were profitable in 2016 and will post a PLN 200 million profit from its core activities, according to company’s press official Adrian Kubicki who cited the company’s unaudited financial data. “LOT estimates that the result on core activities will be close ...

Locked content EU to be roaming-free by mid-June

The EU Council and the European Parliament agreed to reduce the wholesale caps on roaming fees by 90 percent by June 15, effectively ending the roaming fees throughout the bloc, the Council presidency announced on its website. Under the agreement, on 15 June 2017 the maximum wholesale charge for dat...