Locked content Banking sector profit soars by 50.4% in October – NBP

Poland’s banking sector recorded an aggregated net profit of PLN 1.15 billion in October, according to data from the Poland’s Central Bank (NBP), representing a 50.4 percent growth y/y. At end-October, the sector had PLN 11.7 billion net profit, down by 3.5 percent y/y. Operational costs stood at PL...

Locked content Fuel prices continue to stabilize

Average fuel and diesel prices decreased by PLN 0.04, while LPG dropped by PLN 0.02 last week, according to BM Reflex, a fuel branch consultancy company. Currently, gasoline sells at PLN 4.66/liter, diesel at PLN 4.54/liter and LPG at PLN 2.14. “The growth potential of oil prices in global markets i...

Locked content Passenger car registration up by 9% in November – Samar

The number of new registrations of passenger cars and vans in Poland in November amounted to 45,961, according to data from sector research firm Samar. The figure grew by 9 percent year-on-year and 0.42 percent month-on-month. This was the 32nd consecutive month of growth. Since the beginning of the...

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 strong macro fundamentals, supported by a sound monetary framework and solid banking sector. The ratings are constrained by weak GDP per capita rel...

Locked content Sasin: Development and finance ministries to be separated

According to top Law and Justice (PiS) politician, Jacek Sasin, ministries of development and finance should be separated. “At the moment, it seems that there is no need to maintain such a structure because the prime minister will coordinate and supervise the work of these ministries himself,” he sa...

Locked content Gazprom wants to renegotiate prices with PGNiG

WSE-listed, state-owned gas giant PGNiG received a formal request from Russian giant Gazprom to renegotiate contract price of natural gas delivered through the Yamal pipeline. “Gazprom’s renegotiation request is not justified and it does not satisfy the formal requirements specified in the Yam...

Power sector might not be able to finance nuclear plant – Fitch

According to ratings agency Fitch, Polish state-owned utilities have no room to increase their debt after 2020 to finance large investments. “Beyond 2020, the four power firms will have no room to increase debt to finance large investment projects,” Fitch Ratings director Arkadiusz Wicik told the Po...

Locked content Venice Commission: Polish judiciary reform poses serious risk

The Venice Commission, a panel of constitutional law experts of the human rights body Council of Europe, said that Poland’s court overhaul poses serious risks to all parts of the country’s judiciary. The Commission also said that giving the Polish parliament the right to select members of the Nation...