Image: JBM Auto

Locked content Poland with big plans for the e-bus sector

The Polish government wants to create a PLN 2.5 billion electric bus market by 2025 as it plans to offload 1,000 vehicles per year, the Polish Development Fund (PFR) said. The PFR, along with several ministries and organizations signed an agreement with 41 local governments for purchase of 780 elect...
Image : Shutterstock

Poland increases tax revenue by over 20% in January

The first month of new year has been quite good for the state coffers with some PLN 6.7 billion surplus. The revenue from taxes was the main reason for the good results, with VAT revenues increased by 25 percent year-on-year and amounted for nearly PLN 22 billion out of PLN 37 billion revenue record...

Locked content Tusk to Pence: let’s not pretend that everything is as it used t...

US Vice President Mike Pence, met with the European Council President Donald Tusk in Brussels and pledged the US commitment to the EU. “Whatever our differences, our two continents share the same heritage, the same values and above all the same purpose, to promote peace and prosperity through freedo...

Locked content Poland launches new chopper tender

Polish ministry of defense has launched a new tender for 16 military helicopters. The ministry invited Airbus, Lockheed Martin and Leonardo-Finmeccanica to submit their bids. The first tender, won by Airbus’ Caracal machines was canceled in October. “A committee tasked with the negotiations in...

Locked content Famur with better than expected profit

WSE-listed mining machinery producer Famur posted PLN 26.2 million in net profit for Q4 2016, up from PLN 6.4 million recorder in Q4 2015, the firm’s financial report showed. The analysts predicted a PLN 24.5 million profit. For the full year, the profits stood at PLN 93.8 million, representin...

Locked content US-insurer with 5% stake in Pekao Bank

US insurance company Massachusetts Mutual Life has increased its stake in Bank Pekao to 5.35 percent making it the third biggest shareholder of the bank. The market filing did not specify how many stocks and when, the Massachusetts Mutual Life acquired, as listed companies in Poland are required to ...

Locked content Energa plans €250 million bond issue in Q1

WSE-listed power utility Energa plans to sell a minimum €250 million bond issue this quarter, the company said in a market filing. The bonds will mature in 10-12 years and will be allocated to “general corporate needs,” the company said. The papers will be floated on the Luxembourg Stock Exchange...

Major tenant stays in Poleczki Business Park in Warsaw

Engineering and project consulting company ILF Consulting Engineers Polska has renewed its lease agreement for approximately 4,200 sqm of office space in the Poleczki Business Park complex in southern Warsaw. JLL represented the tenant in his negotiations with UBM, the developer of the project. The ...

JP Morgan increases its forecast for Poland’s GDP growth

JP Morgan economists have revised their GDP forecasts for Poland to 3.4 percent in 2017 (from the previous 3 percent) and to 3.2 percent in 2018 (from 3.1 percent). Furthermore, the bank doesn’t expect inflation to reach the Polish Central Bank (NBP) target of 2.5 percent and expects the interest ra...

Locked content Amazon to open its 4th logistic center in Poland

US e-commerce giant Amazon will open its fourth Polish logistic center in Sosnowiec, the company said. The new facility will handle independent SMEs that sell its products through the Amazon website. “Since 2014, we’ve invested over PLN 3 billion and created thousands of jobs in Poland,” Amazon’s op...