Locked content WSE launches new joint rating agency

The Warsaw Stock Exchange (WSE), Polish Development Fund (PFR), the Credit Information Bureau (BIK) and the Institute of Analysis and Rating (IAiR) signed an investment agreement on the creation of a joint rating agency, BIK said in a press release. The new agency will primarily address its offer to...

Locked content Asseco Poland signs two deals with ZUS

Asseco Poland signed a framework agreement with the Social Security Fund ZUS for a total value of about PLN 350 million gross. The agreement is for modification and development of the Comprehensive IT System (KSI). The company also signed another agreement with ZUS on modification of KSI ZUS in acco...

Locked content Trakcja consortium with PLN 686 mln contract for S61

A consortium consisting among others of Trakcja and Mostostal Warszawa has signed an agreement with the General Directorate for National Roads and Motorways (GDDKiA).  Under the agreement for PLN 685.94 million gross the works for construction of the second section of the S61 expressway (part of “Vi...

Locked content Novina buys back 355,533 shares

Novina has bought back 355,533 own shares equal to 20 percent of its share capital, the company wrote in a statement. At the beginning of June, the company wanted to buy back up to 355,533 own shares both listed on the NewConnect market and unlisted ones at a maximum purchase price of PLN 3 per shar...

Locked content World Cup drives small stores sales in June

Sales in small-format stores in Poland increased by 5.4 percent y/y. On monthly basis, a growth stood at  2.4 percent, a market research company CMR said. The number of transactions in June 2018 was 1 percent lower y/y but by almost 3 percent higher m/m. The start of the World Cup in June was accomp...

Locked content H1 bankruptcies up by 22% y/y – Euler Hermes

In H1 511 companies went bankrupt, 22 percent more compared to a year ago,  Euler Hermes reported. In June there were 105 bankruptcies registered, which is a 48 percent increase versus June 2017.  Euler Hermes stated that the number of bankruptcies grew in all sectors. Polish companies rather do not...

Locked content Ryanair cancels 600 flights on July 25-26

Irish low-cost airline Ryanair is to cancel 600 flights in Europe on July 25 and July 26 due to strikes, the company announced on Wednesday. The cancellations will affect 100,000 passengers flying to or from Spain, Portugal, and Belgium. The strikes also took place in Italy, however, the flights sho...

Locked content State will subsidize agricultural fuel with PLN 1.2 bln

The state will pay a subsidy of PLN 1.18 billion for agricultural fuel, Minister of Agriculture and Rural Development Krzysztof Ardanowski said. The change will be effective as of next year. “High costs of running agricultural production are a very serious problem,” Ardanowski underscore...

Locked content GDP growth in Q2 should be similar to Q1 – Kwieciński

Poland’s Central Statistics Office (GUS) data for construction and industrial production indicate that Q2 GDP growth may be comparable to Q1, Minister of Investment and Development Jerzy Kwieciński estimated. In Q1 GDP growth stood at 5.2 percent y/y. Kwieciński added that positive trend shoul...

Locked content Parliament: second reading of court reform bill

The Polish Parliament did not agree to reject the bill for Supreme Court reform proposed by ruling Law and Justice party (PiS). Consequently, the second reading of the bill took place on Thursday evening. During the first reading opposition parties Civic Platform (PO), Modern (Nowoczesna), Polish Pe...