Locked content EU-Japan trade deal ‘within reach’

The European Union and Japan are close to reaching an agreement in principle on a free trade deal, the European Commission said. “We are almost there. We made a lot of very important progress,” European Commissioner for Trade Cecilia Malmström said after the latest round of meetings. The EU hopes th...

Locked content SKOK Nike declared bankrupt

SKOK Nike credit union was declared bankrupt, Financial Supervision Authority (KNF) said. KNF suspended operations of SKOK Nike on June 2 and filed for its bankruptcy. At end-March the union had PLN 24.1 million in negative equity, and PLN 124 million in deposits. It had PLN 1.54 million losses on t...

Locked content Work Service sells two subsidiaries for PLN 174.18 mln

WSE-listed HR company Work Service has sold its IT Kontrakt subsidiary to Oaktree Capital Management private equity fund for PLN 146.86 million, and ProService Worldwide to its shareholder Prologics for PLN 7 million and a “guarantee price” of up to PLN 20.5 million, the company said in market filin...

Locked content Poles wary of joining the euro zone – poll

As many as 50 percent of Poles believe that the adoption of the euro would be “something bad”, the latest poll by Kantar Public showed. Only 11 percent support it, and 21 percent does not have an opinion on this matter. “In comparison with the results from December 2016, Poles’ opinions on the...

Eurostat: Unemployment unchanged in May

The seasonally adjusted unemployment rate in Poland stood at 4.8 percent in May, the same as the month before, the EU statistical office Eurostat said. This is a drop from May 2016, when it stood at 6.3 percent. The pan-European statistics agency, which uses roughly the same criteria as Poland’s Cen...

Locked content Play announces IPO details

Mobile operator Play will float 121.57 million of its existing shares in what will most likely be the biggest IPO on the WSE since 2011. Telecom, owned by Greek fund Tollerton and Icelandic investor Novator, will sell 48.6 percent of its total equity. No new share issues are planned. With the maximu...

Locked content Tauron sued for PLN 1.2 bln

WSE-listed, state-controlled power utility Tauron was sued by the US utility Invenergy for PLN 1.2 billion over the termination of a 15-year-long contract for the deliveries of electricity and green certificates. Invenergy claims, that the deal, which was signed in 2010 with one of Tauron’s subsidia...