Eurostat: Unemployment in Poland drops in August

The seasonally adjusted unemployment rate in Poland stood at 4.7 percent in August, compared to 4.8 percent the month before, the EU statistical office Eurostat said. This is a drop from August 2016, when it stood at 6.1 percent. The pan-European statistics agency, which uses roughly the same criter...

Locked content Lubuska SKOK gets new owner

Lender Wschów Bank Spółdzielczy will takeover the troubled credit union Lubuska SKOK with financial involvement from the banking guarantee fund BFG, Financial Market Supervisor KNF announced. Lubuska SKOK has PLN 10.26 million in deposits and negative equity of PLN 1.7 million, its assets, estimated...

Locked content LPP, CCC September sales soar

WSE-listed shoe retailer CCC, saw its sales revenue in September increased by 51.6 percent reaching PLN 380.6 million, the company said in a market filing. Revenue for the period between January and September stood at PLN 2.83 billion and was 37.6 percent higher y/y. In the same month, WSE-listed fa...

Locked content No more renewable energy auctions this year – URE

Poland will not organize further auctions for electricity from renewable sources this year, energy market regulator URE said, citing new regulations from the Energy Ministry, which regulates the maximum quantity, value, and order of such auctions. “According to the provisions of the aforementioned l...

Locked content ZUE signs PLN 303 mln deal with PKP PLK

WSE-listed railway infrastructure builder ZUE signed a net PLN 303.1 million (gross PLN 372.8 million) deal for works on the 93 railway line with railway infrastructure firm PKP PLK. The deal concerns the part of the line linking Trzebinia with Oświęcim. After the works, which include replacing 20 k...

Locked content Torpol and Budimex with PLN 596 mln deal with PKP PLK

The consortium led by WSE-listed railway infrastructure builder Torpol, and WSE-listed constructor Budimex has signed a net PLN 596.7 million deal (gross PLN 734 million) for the works on the 133 railway line with railway infrastructure firm PKP PLK. The tender concerns route connecting Trzebinia an...

NBP: FDI inflows reach PLN 54.9 bln in 2016

The foreign direct investments (FDI) net inflows last year amounted to PLN 54.9 billion, according to the Poland’s Central Bank (NBP). The figure includes PLN 34.2 billion in reinvested profits, PLN 8.4 billion in capital inflows in the form of shares and other equity interests, and a net inflow of ...

Locked content Moody’s: FX mortgage relief to trim banks profit by 16-38 percen...

Ratings agency Moody’s estimates that four banks, most affected by the planned FX mortgage relief law will see their pre-tax profits down between 16-38 percent. The lenders include Millennium, BGZ BNP Paribas, mBank, and PKO BP. Moody’s estimated the cost on the annualized H1 results. “The pro...

Locked content Mennica Polska signs $43.66 mln deal in Thailand

WSE-listed mint Mennica Polska has signed an agreement with the Thai Ministry of Finance to produce 50,000 gold medals commemorating the King Bhumibol Adulyadej’s memorial. The contract’s value is estimated at $43.66 million, the medals are to be delivered next year. This is Mennica Polska’s s...