Locked content Best collector debt portfolio value reaches PLN 1.66 bln

WSE-listed debt collector Best debt portfolio’s nominal value amounted to PLN 1.669 billion in Q1-Q3 2017, which is a 61 percent y/y increase. In Q3 alone, the company bought PLN 702.5 million worth of debt alone, the company said in a market filing. Moreover, in Q3, recoveries increased by 36 perce...

Locked content LNG terminal expansion cost to exceed PLN 100 mln

State-run gas transit infrastructure operator Gaz-System estimates that the cost of the expansion of the LNG terminal in Świnoujście will exceed PLN 100 million. After the expansion, the terminal will have the capacity to regasify 7.5 bln cubic meters of LNG per annum. The project assumes adding two...

Locked content OFE with the average 3-year return rate at 19.1%

Private pension funds OFE achieved 19.1 percent weighted average rate of return in the three-year period ending September 29, 2017, financial market regulator KNF said. The best performer was MetLife OFE with 23.21 percent return rate, followed by OFE PZU Złota Jesień (21.77 percent), and PKO BP Ban...

Locked content EU to set-up European Prosecution. Poland not involved

Twenty EU member states countries agreed to set up an EU-wide prosecution service to tackle misuse of EU funds or large-scale VAT fraud. Poland, along with Malta, the Netherlands (which already said it will join the program in the future), Ireland, Sweden, Hungary, and the UK did not sign the agreem...

Food exports to grow by 8% this year – IERiGŻ

According to the experts from the Institute of Agricultural and Food Economics (IERiGŻ), food exports will grow by 8 percent this year and reach €26.3 billion. In the same period, imports will grow by 5.9 percent to €18.3 billion, meaning that the trade surplus will reach €8 billion, compared to €7 ...

Locked content Asseco sets up new international holding. Mulls IPO and acquisitions

WSE-listed IT giant Asseco has set up a new subsidiary in Slovakia, Asseco International and hopes to float it soon. “We have started talks with Frankfurt and London, but Brexit is not helping. Our stock market (WSE) will always be closest to me, though.” Company’s CEO Adam Góral said. The new compa...

Locked content LG car battery plant in Poland to be the biggest in Europe

South Korea’s LG Chem lithium-ion battery in Kobierzyce near Wrocław will be the biggest in Europe, according to the Polish government. The company plans to produce up to 100,000 batteries there annually. “Nine out of ten electric cars in Europe could run on batteries made in Poland,” Deputy PM Mate...

Locked content Asseco Q3 earnings affected by foreign units results

WSE-listed IT group Asseco warned that it will book PLN 116 million in impairments on its foreign units results. “As a result of the revision of plans of the Asseco Group in the area of operations on foreign markets and the deteriorating results and forecasts of the companies operating in Russia, Li...