Locked content Nowoczesna with new leader

Opposition party Nowoczesna elected Katarzyna Lubnauer as its new leader. She defeated incumbent Ryszard Petru by 9 votes. After her win, she said, that she won’t marginalize Petru, who is the party’s founder, and he will play an important role in Nowoczensa’s future. She added, however, that Nowocz...

Locked content Euler Hermes: 80 bankruptcies in October

In October, 80 Polish companies were declared bankrupt, compared to 66 last year, according to a report issued by Euler Hermes. Since the beginning of the year, 753 companies were declared bankrupt, a 15 percent growth y/y. According to Euler Hermes the number of bankruptcies will remain at this lev...

Fuel prices stabilize

Average fuel prices decreased by PLN 0.03, while diesel prices went down by PLN 0.02 and LPG dropped by PLN 0.01 last week, according to BM Reflex, a fuel branch consultancy company.

Locked content Feerum with PLN 140 mln deal in Tanzania

WSE-listed grain elevator producer Feerum ratified the PLN 139.99 million deal with the Tanzanian National Food Reserve Agency (NFRA) for the construction of five-grain silo complexes and storage facilities and the revitalization of already existing storage facilities in Tanzania, the company said i...

Locked content Tusk: EU will never recognize Crimea’s annexation

During the Eastern Partnership summit, the European Council President Donald Tusk said that the EU will never recognize the annexation of Crimea by Russia. “We condemn the aggression of Russia and we will never recognize the illegal annexation of Crimea,” he said. His words were in stark comparison ...

Locked content Bumech files to launch restructuring proceedings

WSE-listed mining equipment producer Bumech filed a petition to the court to open the company’s restructuring proceedings in the form of accelerated arrangement proceedings. According to the company, such move was aimed at avoiding bankruptcy. Bumech informed that the direct factors that had influen...

Locked content Newag to review strategic options

WSE-listed rolling stock producer Newag launched “a review of potential strategic options” and wants to ask state-run Polish Development Fund PFR for help in being a part of the EU-wide consolidation process. “The company decided to launch a review of potential strategic options tied to the consolid...

Orbis sells hotel in Budapest for €75 mln

WSE-listed hotels operator Orbis sold its Sofitel Hotel in Budapest to Starwood for €75 million. As part of the agreement, the parties will conclude a management agreement under which the hotel will be managed by the Orbis subsidiary and will continue its operations under the Sofitel brand. The mana...

Locked content KNF issues new dividend regulations for banks

The Financial Supervision Authority KNF, released new dividend payout criteria for banks for 2018. To be allowed to pay them out, lenders cannot be undergoing restructuring, have to have a leverage ratio above 5 percent and must have Tier 1 and total capital ratio no lower than the required minimum ...