Locked content Automotive exports drop in Q1 – report

Polish automotive exports fell by 2.85 percent y/y to €6.58 billion in Q1 AutomotiveSuppliers.pl said in its report. Germany remains the biggest importers of Polish automotive products, accounting for 31.7 percent of the whole exports value, followed by Czechia (8.5 percent) and Italy (7 percent). T...

Locked content Small format stores sales grow 6.9% in May

Sales in small format stores (up to 300 sqm) grew by 6.9 percent y/y and 11.7 percent m/m in May, the Polish Chamber of Commerce PIH said. The growth was recorded despite 5 days when the retail trade was prohibited (on two Sundays and three public holidays). The average value of a transaction in suc...

Unemployment drops in May

Poland’s unemployment rate stood at 6.1 percent at the end of May, the Central Statistical Office (GUS) informed, representing a 0.2 percentage points m/m drop

Locked content Government support grows – Kantar Public poll

As many as 45 percent of the respondents believe that the government is doing a good job, while 41 percent thinks otherwise, according to a poll conducted by Kantar Public. The supporters number increased by 5 percentage points m/m, while the number of opponents contracted by 4 percentage points. PM...

Locked content Silvair IPO prospectus approved

Lighting control firmware provider Silvair had its IPO prospectus approved by the Financial Supervision Authority KNF. Silvair is an American-based company founded and run by three Poles, Rafał Han, Szymon Słupik, and Adam Gembala. Its software is used by global manufacturers of lighting and sensors...

Locked content American Express to open service center in Warsaw – Puls Biznesu

According to Puls Biznesu daily, American Express is planning to open a service center in Poland and employ up to 2,000 people there. Warsaw is a frontrunner to host the center. “American Express is looking for an office that would host over 1,000 employees. Warsaw competes with Prague and Budapest,...

Locked content S&P: banking sector consolidation still possible

Polish banking sector might see further consolidation, according to S&P analyst Michał Selbka, but the potential merging of PKO BP and Pekao is unlikely and could hurt competition. “It is probable that a part of the banking sector in Poland will be further consolidated. I would not like to menti...

Locked content Eurocash to acquire 26 Lewiatan stores

WSE-listed retailer Eurocash filed a motion to antitrust watchdog UOKiK to takeover Partner, owner of 26 Lewiatan stores. “The challenge of family business succession concerns many entrepreneurs, owners of small and medium-sized stores in Poland. We show that as the Eurocash Group, we are ready not ...

Locked content Budimex and Strabag with best PLN 466 mln bid for A1 highway segment

WSE-listed builder Budimex along with its partner Strabag filed the best PLN 466 million offer in a tender for the A1 highway segment connecting Kamieńsk and Radomsko. Both companies have 50 percent stake in the bid. The length of two sections of the highway covered by the tender is roughly 90 kilom...

Locked content Morawiecki: too early for Poland to join the euro zone

“It is still too early to join Poland in the euro zone,” PM Mateusz Morawiecki said. According to him, it will be possible to consider joining the euro zone when wages in Poland reach 70-80 percent of German wages. “A country that is catching up, such as Poland, perhaps in the future should join the...