Locked content Tusk hails Trump’s words on Russia, but has concerns

European Council President Donald Tusk welcomed the support US President Donald Trump has offered to Transatlantic ties, but expressed his concerns whether they were true. “I’ve heard yesterday in Warsaw, surprising diplomatic words from the American president about Transatlantic community, ab...

Locked content CETA to provisionally come into force in September

Canada and the European Union have agreed that the Comprehensive Economic and Trade Agreement will provisionally come into force on September 21. “It’s good news for the globe to look at examples of progressive trade deals that take into account a government’s responsibility to be able t...

Fitch affirms Poland A- rating, outlook stable

Rating agency Fitch has decided to keep Poland’s A- rating and kept stable outlook unchanged. “Poland’s ‘A-‘ ratings reflect its solid macro fundamentals, supported by a sound monetary framework and healthy banking sector. The ratings are constrained by a weak level of GDP pe...

Locked content KNF: Banking sector down 2.15% at end-May

Poland’s banking sector recorded an aggregated net profit of PLN 5.17 billion at end-May, according to data from the Financial Supervision Authority (KNF), representing a 2.15 percent decline y/y. Net income from banking activity stood at PLN 24.89 billion and increased by 4.8 percent y/y. Banks’ ne...

Locked content Mespila launches buyback tender for Paged shares

Mespila Investments Limited, the main shareholder of the WSE-listed of plywood producer Paged, has launched a tender offer for all 5.44 million of Paged shares in freefloat at PLN 57.63 apiece. The stake represents a 35.1 percent of the company. The offer will go through, if at least 3.89 million sh...

Locked content PKO BP plans €750 mln bond listing

WSE-listed bank PKO BP, plans to issue bonds worth €750 million, the bank said. Bonds will mature in 3-4 years, and the proceeds will be spent on the lender’s ongoing activity. The issue details depend on market conditions. PKO BP plans dual listing in Warsaw and Luxembourg….

Locked content Fuel prices finally go up

Average fuel prices increased by PLN 0.02, while diesel prices went up by PLN 0.05 last week, according to BM Reflex, a fuel branch consultancy company, LPG prices dropped by PLN 0.03. These were first increases after 10 weeks of declines Currently, gasoline sells at PLN 4.37/liter, diesel at PLN 4....

Locked content KNF ‘concerned’ about Raiffeisen suspending its IPO

The Financial Supervision Authority (KNF) is concerned that the Raiffeisen has suspended works on its IPO due to insufficient interest from investors. “KNF will take necessary steps to ensure that bank shares are floated on the Warsaw stock exchange with free float at 15 percent or higher,” it said,...

Polnord apartment sales up 17% y/y

Warsaw Stock Exchange-listed developer Polnord sold 316 apartments in the second quarter of 2017, which marks a 17 percent increase upon the same period last year. The record quarterly sales of more than 300 housing units seen by Polnord since the beginning of this year are the result of a strategy ...

Locked content PGG with PLN 890 mln CAPEX for this year

State-owned coal group Polska Grupa Górnicza, will invest PLN 890 million this year on new coal deposits, improving coal quality and raising production efficiency. In 2016, the company spent PLN 413 million on such projects, the company said. The group has increased the number of longwalls to 43 fro...