Locked content ZUS transfers PLN 192 mln to OFEs this week

Social Insurance Board (ZUS) transferred PLN 192.33 million to the open pension funds (OFE) this week. Overall, in March, the transfers amounted to PLN 252.5 million so far, while this year’s transfers have reached PLN 754.7 million. Last year, ZUS transferred PLN 2.93 billion to OFEs. Poland has be...

Locked content EU drafts law to regulate Nord Stream 2

The European Parliament’s industry committee voted in favor of the European Commission draft which would extend the bloc’s laws to offshore gas pipelines such as the planned Nord Stream 2 gas link between Germany and Russia. According to MEP Jerzy Buzek, one of the law’s proponents, the new law woul...

Locked content GetBack signs letter of intent with foreign industry investor

WSE-listed debt collector GetBack signed a letter of intent with an unnamed foreign industry investor regarding purchasing company’s shares in the planned private placement issue, the company said in a market filing. GetBack added that this investor has not been named in the previous company’s filin...

KUKE: exports growth to slow down to 6-7% in 2018

The Export Credit Insurance Corporation (KUKE) predicts that the growth rate of Polish exports will slow down to around 6-7 percent, KUKE’s CEO Janusz Władyczak said. Last year, according to the Central Statistics Office GUS data, exports increased by 10.2 percent to €203.7 billion.

Locked content LC Corp 2017 profit drops

WSE-listed developer holding LC Corp recorded PLN 80.24 million consolidated net profit in 2017 down from PLN 113.12 million profit a year earlier. Operating profit stood at PLN 89.27 million compared to PLN 203.76 million profit in 2016. Consolidated sales revenues reached PLN 706.19 million in 201...

Locked content Orlen orders crude oil from Iran

WSE-listed fuel group Orlen will receive a spot delivery of 130k metric tons of Iranian crude oil mid-April, the company said in a market filing. “Diversification is our priority when it comes to oil purchases. We are always looking for new directions and solutions, remembering that we must effectiv...

Locked content Asseco Poland is working on ‘direct entry’ onto the US market

WSE-listed IT company Asseco is working on a “direct entry” to the US market, the firm CEO Adam Góral said. “We are very interested in the US market, we do everything to enter it directly from Poland. I would not talk about it if we were not working on it. Of course, it takes time,…

Retail sales grow by 7.9% in February – GUS

Retail sales increased in February by 7.9 percent year-on-year and dropped by 2.9 percent m/m, according to GUS. Market consensus prepared by the Polish Press Agency (PAP), saw the sales increase by 7.7 percent y/y and contract by 2.9 percent m/m.

GUS: Consumer sentiment drops in March

The consumer confidence indicator (BWUK) dropped by 0.8 percentage points to 5.4 in March, compared to the February reading, according to a report by Central Statistical Office (GUS). Compared to last year, the indicator is up by 7.4 percentage points

GUS: Non-financial with PLN 126 bln net profit in 2017

Polish enterprises earned net PLN 126.4 billion at end-Q4, up 13.8 percent y/y, while investment outlays grew by 3.4 percent to PLN 126.2 billion, data from Poland’s Central Statistical Office (GUS) showed. Net profit reached PLN 145.3 billion and was up by 8.1 percent compared with 2016, whil...