Locked content 25 mln of Poles use internet, spending 6 hours a day online

Poland has 25 million, active internet users, according to the report compiled by Deloitte consultancy, the average time they spend online amounts to 6 hours per day, with 4.4 hours on desktop computers and further 1.3 hours using mobile devices. As many as 14 million Poles actively use social media...
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Young Poles are deep in debt – report

According to the report released BIG InfoMonitor, young Poles (aged 18-34) have PLN 4.6 billion non-credit debt, while some 12 percent of (18-24 year-olds) have troubles paying their loans on time. “Between March 2016 – March 2017, the number of 18-34 year-olds with non-credit debt has increased by ...
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Nestle moves Blue Riband production to Poland

Food producer Nestle announced that it will move its production of the popular Blue Riband wafers to Poland, from its Fawdon factory. As a result of this and other cuts, some 300 people in the UK will lose their jobs. The wafers will be manufactured in Kargowa. “These proposals are being made by Nes...

Pengab banking sentiment falls in April

The Pengab index, which measures conditions in the banking industry, fell by 4.4 points month-to-month to 25.9 points in April, according to the Monitor Bankowy report issued by TNS Polska.

Locked content PGNiG to sell 218 mln cm3 of gas to Ukraine

WSE-listed, state-controlled gas utility PGNiG will sell 218 million cubic meters to Ukrainian firm Ukrtrans, the company said in a press statement. “Last year, we’ve begun exporting our gas to Ukraine, which was a success. This whole time we’ve been carefully analyzing the local market,...

Locked content AmRest continues Russian expansion

WSE-listed restaurants operator AmRest signed a master franchisee deal for Pizza Hut’s operations in Russia and to acquire 18 Pizza Hut restaurants in the country, AmRest said in a market filing. “As a result of the planned transaction, AmRest’s subsidiary will become the master-franchis...

Locked content Bank Millennium with PLN 140.5 mln net profit in Q1

WSE-listed Bank Millennium, posted a PLN 140.5 million net profit in Q1, beating the market consensus for PLN 116.8 million. The bank claimed that comparable net profit increased 30 percent y/y. ROE stood at 8.1 percent. The lender had 1.52 million active customers. 136k more y/y, while retail depos...

Budget deficit at PLN 2.28 bln in Q1

The budget deficit amounted to PLN 2.28 billion at the end of March. It stood at 3.8 percent of this year’s budget deficit plan, the Ministry of Finance announced.

Moody’s upgrades Poland’s GDP forecast

The rating agency Moody’s has upgraded Poland’s 2018 GDP forecast to 3.1 percent from 2.8 percent. According to the agency stronger private consumption boosted by an improvement on the labor market and pick up in the EU-funded investments will boost Polish economy. In 2017, the value of EU funds wil...

Locked content Work Service sells IT Kontrakt for PLN 147 million

WSE-listed HR agency Work Service sold its 95 percent stake in IT Kontrakt to private equity fund Oaktree Capital Managenent for PLN 147 million, the company said in a market filing. Work Service acquired IT Kontrakt back in 2012, paying PLN 52 million for 75 percent shares, later increasing its sta...