Lease agreements at New City office complex in Warsaw

Two new tenants have leased space in the New City office complex in Warsaw, which is owned by the Hines Polska-managed Hines Global REIT fund. Valeo Service Eastern Europe and Xiaomi H.K. will occupy nearly 1,000 sqm and around 300 sqm of office area in the property respectively. Additionally, Fabry...

Locked content Pekao joins BLIK mobile payment system

WSE-listed lender Pekao has implemented the mobile payments system BLIK to its mobile application, becoming the last remaining big lender to do so. Now, as many as 96 percent of mobile banking applications users will have the ability to pay with BLIK. The system was launched by the Polish Payments S...

Locked content EU approves Poland’s capacity market

The European Commission approved Poland’s capacity market mechanism. The bill introduces auctions for reserve capacities and creates incentives for investments in the energy sector. Poland secured the approval along with five other EU member states. “Capacity mechanisms can help to safeguard the sec...

Locked content Czarnecki removed as the European Parliament VP

Law and Justice (PiS) MEP Ryszard Czarnecki has been dismissed from his post as the European Parliament Vice President after MEPs voted by 447 in favor and 196 against his early termination. Last month, Czarnecki in his blog post compared Civic Platform (PO) MEP Róża Thun to a Nazi collaborator who ...

Locked content Passenger car registration soars in January – Samar

The number of new registrations of passenger cars and vans in Poland in January amounted to 51,039, according to data from sector research firm Samar. The figure grew by 21.7 percent year-on-year and fell by 5.88 percent month-on-month. This was the 34th consecutive month of growth. “This was the be...

Unemployment at 6.9% in January – Labor ministry

The registered unemployment rate amounted to 6.9 percent in January, compared to 6.5 percent last month, and 1.8 percentage points lower y/y, based on estimates from job centers, the Ministry of Family, Labor and Social Policy announced.

Locked content BZ WBK with PLN 1 bln subordinated bonds issue

WSE-listed lender BZ WBK plans to issue up to PLN 1 billion in subordinated bonds by June 30, 2018, the bank said in a market filing. The bank will seek Financial Supervision Authority’s (KNF) approval to qualify the bonds as Tier II instruments and will be issued all at once or in several tra...

Locked content Factoring firms with a 16.7% turnover increase – PZF

Polish factoring companies had a 16.7 percent increase in turnover to PLN 185 billion last year, factoring lobby Polski Związek Faktorów (PZF) announced. Their customer base grew by 12.6 percent y/y to 9k, and they financed over 10 million invoices The biggest companies in the sector include ING Com...

European Commission upgrades GDP growth forecast for Poland

The European Commission increased the forecast of this year’s GDP growth by 0.4 percentage points to 4.2 percent this year. For 2018, the forecast was increased by 0.6 percentage points to 3.8 percent. For 2019, the EC predicts a 3.6 percent GDP growth, up by 0.2 percentage points compared to ...

NBP reserves drop in January

Poland’s Central Bank’s (NBP) reserves stood at €94.39 billion at end-January and were some €150 million lower than last month, according to the NBP’s official reserve data. Reserves denominated in USD have increased by $4.3 billion to $117.59 billion. The PLN-denominated reserves stood at PLN...