Locked content Poland to cap management fees gradually, no changes in 2017

Financial market regulator KNF, said after consultations with investment funds, that the 2 percent cap on management fees should be implemented gradually to 2022. No changes will be made this year. “Taking into account that financial and capital situation of particular investment hoses differs signi...

Locked content Boeing wins tender for VIP planes

Poland’s Defence Ministry announced that it had signed a $523.6 million agreement with Boeing to supply three 737-800 airliners for the use of senior Polish state officials. “The planes will have security systems, similar to those used on the Air Force One,” deputy Defense Minister Bartosz Kow...

Locked content Poland to buy Patriot missiles for $7.6 bln

Poland plans to buy eight Patriot missile defense systems from Raytheon worth $7.8 billion this year, Defense Minister Antoni Macierewicz said. “Those systems allow us to guarantee the security of the Polish state,” Macierewicz explained. The deal needs to be approved by the US Congress required for...

Locked content Polish teachers go on strike over educational reforms

Thousands of teachers across Poland took part in a strike on Friday to protest the proposed education system overhaul. According to the Union of Polish Teachers, which organized the strike, 35-40 percent of teachers joined the protest. Ministry of Education claimed that 89 percent of the schools wer...

Locked content NewConnect excludes 6 companies

Warsaw Stock Exchange, operator of the alternative, small-cap NewConnect index, excluded six companies from its NCIndex, after they were put on the alert list Car leasing company Velto, IT firm Provecta, parcel locker operator Parcel Technik, VR software producer i3D, web group Apis, and automotive ...

Locked content PGG-KHW merger goes through. Secures PLN 1 bln financing

The merger of Polska Grupa Górnicza (PGG) with Katowicki Holding Węglowy (KHW) has been completed, Poland’s ministry of energy said. The decision has been approved by Poland’s antitrust watchdog UOKiK. The government has also finalized agreements with PGG-KHW creditors regarding suspendi...

Locked content Trade ban every other Sunday a ‘fair compromise’- Kaczyńsk...

Ruling Law and Justice (PiS) leader Jarosław Kaczyński, said that he thinks that implementing the trade ban for every other Sunday, would be a fair compromise. “A large part of the society believes that visiting large-area stores is a part of Sunday ritual, whether they buy something or not. If it i...