KUKE: Bankruptcies down by 20.4% in April

The number of bankruptcies in April totaled 43, a decrease of 20.4 percent y/y, according to data from the Export Credit Insurance Corporation (KUKE). In month-to-month term the figure fell by 2.3 percent.

GDP growth at 4 percent in Q1 – flash estimate

Poland’s gross domestic product grew by 4 percent year-on-year in the first quarter of 2017, according to a flash estimate published by the Central Statistical Office (GUS). The quarter-to-quarter growth was at 1 percent.

Locked content Duda signs new pharmacy ownership law

Despite protests, President Andrzej Duda signed a law which will restrict right to open a pharmacy only to professional pharmacists. The new regulations also impose geographic and demographic limits on a number of such facilities. After the bill goes into force, a permit to run a pharmacy will only ...

Locked content EU to Poland, Hungary: take in refugees or face sanctions

The European Commission, called for EU member states to start accepting asylum-seekers by June, according to previous agreements, or they could face consequences. The only two member states, which did not took in a single person are Poland and Hungary. “It cannot be that while the majority of member...

Locked content EU Commission to pursue dialog with Poland over rule of law

European Union members called for the continued dialog with Poland regarding rule of law. “There was broad agreement around the table today that rule of law is a common responsibility and we should continue dialog with Poland,” Commission’s Vice President Frans Timmermans said after the debate...

Locked content PKO BP to issue PLN 1.7 bln bonds. Plans to buyback PLN 1.6 bln debt

Poland’s largest lender, WSE-listed PKO BP decided to buy back PLN 1.6 billion in bonds issued in 2012, to be refinanced with up to PLN 1.7 billion subordinated bonds with ten year maturity and a call option after 5 years, the bank said in a market filing. “The Bank has the right to redeem pre...

Locked content Emperia Q1 profit down. Hopes to find investor in Q3

WSE-listed retailer Emperia posted a PLN 6.42 million attributable net profit in Q1, 15.4 percent down y/y. Operating profit were down by 20.3 percent to PLN 7.41 million, while revenue amounted to PLN 600.35 million, a 2.3 percent y/y growth. The company plans to find an investor in Q3, Emperia CEO...

Locked content P4 to use IPO proceeds to pay its debt

Mobile telecom operator P4 could spend part of the proceeds from the potential IPO to buy back bonds from its owner Impera Holdings, the company said in a statement to the Luxembourg Stock Exchange. “Part of the proceeds of any initial public offering may be used to redeem the Impera Holdings senior...