Locked content Sygnity net profit in fQ1 down by 93.1% y/y

WSE-listed IT firm Sygnity suffered a 93.1 percent year-on-year decrease in net earnings in fiscal Q1 2016/17 (ending December 31, 2016) posting only PLN 236,000, the company said in a market filing with preliminary results. The main reason for such steep decline was significant drop in public order...

Locked content KUKE: The number of bankruptcies in 2017 to remain unchanged

The number of companies that will go bankrupt in 2017 will amount to around 600, according to the Export Credit Insurance Corporation (KUKE) forecasts. This would be a similar result to 2016. In month-on-month terms, in January the number of bankruptcies dropped by 4.1 percent to 47. In last 12 mont...

Locked content PFR to provide PLN 5 bln financing for energy projects

According to the head of Polish Development Fund (PFR) Paweł Borys, the fund has some PLN 5 billion earmarked for financing for energy projects. A single project can be financed between PLN 0.5-1 billion, while debt financing can be between PLN 1-1.5 billion. According to Borys, the biggest energy p...

Locked content POPiHN: 6,803 gas station in Poland. Highest number since 2012

According to sector lobby organization POPiHN, Poland had 6,803 gas station in 2016, making it the biggest number in four years. According to data, 33.1 percent of the facilities is controlled by Polish companies, 29.6 percent is owned by independent operators, while 21.6 percent is run by foreign e...

Locked content Record-high employment in Polish innovative firms – ADP Polska

In 2016, employment in companies in the “modern economy” sector has increased by 4.47 percent, according to report compiled by ADP Polska. The biggest number of employees is working in the production sector of the modern economy, where the employment grew by 7.93 percent. In the services sector, tha...

Locked content Kraków to fight smog with crowdfunding

Local authorities of the city of Kraków, wants to raise at least PLN 5,000 in a crowdfunding effort to buy dust eating plants. The city, which will give PLN 3 for every złoty raised, hopes that it will help fight air pollution. The plants would be placed in public educational facilities. “This initi...

Locked content PAIiIZ changes name and scope of operations

The Polish Information and Foreign Investment Agency (PAIiIZ) has changed its official name to the Polish Trade and Investment Agency. It has also expanded its objectives and will focus on two main objectives: servicing investors in Poland and supporting Polish companies in their global expansion. “...

Locked content Orlen and PGNiG to look for deposits together

State controlled fuel group PKN Orlen and natural gas producer PGNiG have expanded their cooperation in the hydrocarbon exploration in the Lubelskie basin. Under the deal, Orlen will share its 3D seismic data from the concession. Orlen and PGNiG have been cooperating since 2007. Currently, they work...

Locked content Poland won’t privatize state firms anymore – Kowalczyk

Poland “will no longer privatize” state companies and will focus on “rebuilding assets,” cabinet minister Henryk Kowalczyk said. According to Kowalczyk, Poland will continue the nationalization of the banking sector through acquisitions, after the state-owned insurer PZU has acquired stakes in a num...