Locked content BIK: banks issued 9 mln loans worth PLN 133 bln in 2017

In 2017, banks and SKOK credit unions provided some 9.05 million loans with a total value of PLN 133.2 billion, the Credit Information Bureau (BIK) reported, representing a 5.5 percent y/y growth. Overall, last year, lenders granted 7.23 million loans (1 percent growth) worth PLN 78.66 billion (up b...

Locked content Loving Vincent gets Oscar nomination

A Polish-UK joint production Loving Vincent has been nominated for the Oscar in the best-animated feature category. The movie directed by Dorota Kobiela and Hugh Welchman is a biographical animated drama film about the life of painter Vincent van Gogh. Each of the film’s 65,000 frames is an oi...

Locked content WIG reaches record-high level

The main index of the Warsaw Stock Exchange, WIG, reached its highest ever level of 67,933.05 points on Tuesday morning, beating the previous record set back in 2007. Later, during the day the growth slowed down and the trading day ended with WIG at 67,529.39 points. Additionally, the blue-chip WIG2...

VAT revenues grew by 23% in 2017

Revenues from goods and services tax (VAT) amounted to PLN 157 billion at the end of 2017, an increase of 23 percent y/y, PM Mateusz Morawiecki said.

Locked content EU to investigate public aid for regional railway operator

The European Commission launched an investigation restructuring aid for the state-run regional railway operator Przewozy Regionalne. The Commission has concerns that the company may already have received State aid in the past. EU rules only allow a company to receive restructuring aid once over a 10...

Locked content Orange Q4 EBITDA to take PLN 196 mln hit

WSE-listed telecom group Orange Polska will take a PLN 196 million hit on its Q4 2017 EBITDA results due to its new social agreement for 2018-19, and final settlement to the agreement from previous years. Still, Orange claims that the write-off will not affect its 2017 EBITDA estimated at PLN 3 bill...

Locked content Netia can book PLN 150.7 mln impairments

WSE-listed telecom operator Netia can include PLN 150.7 mln asset impairment in its 2017 financial results, the company said in a market filing. According to the report, after conducting analyzes and consultations with the auditor, Netia’s management decided that the application of the market ...

Authorities arrest Nazi sympathizers after damning TV report

Polish authorities arrested three people for propagating fascism after a news report showed hidden camera footage of a group of Nazi sympathizers group Pride and Modernity (Duma I Nowoczesność)  celebrating Adolf Hitler’s birthday last year. The investigators also found fascist paraphernalia, includ...