Locked content Baltic Pipe works according to schedule – Naimski

Works on the Baltic Pipe gas pipeline are being implemented according to the schedule, and its physical construction will start in the spring of 2020 and will last two years, the government plenipotentiary for strategic energy infrastructure Piotr Naimski said “We are carrying out investments relate...

Locked content Mastercard: Tourist to spend over PLN 3 bln in Warsaw this year

According to card issuer Mastercard, foreign tourist will spend over PLN 3 billion in Warsaw this year. Polish capital was the only domestic city in this years’ Global Destinations City Index report. This is 18.2 percent more than last year. Last year, Warsaw was visited by 1.4 million foreign touri...

Locked content Banking sector profit inches up in August – NBP

Poland’s banking sector recorded an aggregated net profit of PLN 1.31 billion in  August, according to data from Poland’s Central Bank (NBP), representing a 1.9 percent growth m/m. At end-August, the sector had PLN 10.43 billion net profit, the y/y change is not available due to a change in methodol...

Locked content PGNiG to finalize two US LNG deals by end-2018

WSE-listed, state-run gas giant PGNiG hopes to sign at least two new long-term contracts for LNG supplies from the US by end-2018, deputy CEO Maciej Woźniak said. “In July this year, we announced 20-year contracts for LNG purchases, on the basis of ‘we buy this gas and buy it where we deem it approp...

Locked content GetBack with new offers to bondholders

WSE-listed debt collector GetBack put forward a new offer to its debtor increasing the cash installments to 38 percent from the previous 31 percent. The remainder of the debt would be paid in equity conversion. The company proposes that the repayment of the bondholders will take place in sixteen ins...

Locked content KNF approves Bytom and Vistula merger plan

The Financial Supervision Authority KNF approved the share issue tied to the merger of WSE-listed clothing retailers Vistula and Bytom. According to the merger plan, Vistula Group will receive a 100 percent stake in Bytom. Initially, the companies agreed that one share of Bytom will be exchanged for...

Locked content S3 highway with PLN 1.9 bln financing deal

The Ministry of Investment and Development has informed that it secured PLN 1.9 billion in EU financing for 67 kilometers-long stretch of the S3 highway, which will link Legnica and Lubawka in the Lower Silesia voivodship. “We are under the pressure of time because we want the construction to run as...

Locked content Santander completes Deutsche Bank stake transaction

WSE-listed lender Santander Bank Polska (formerly BZ WBK) finalized the transaction to acquire 274,444,939 shares in Deutsche Bank Polska representing over 10 percent stake for PLN 257.97 million, the company said in a market filing. Back in December last year, BZ WBK signed a contract to take over ...

Locked content Orlen buys oil in Nigeria

WSE-listed fuel giant Orlen purchased 130k metric tons of crude oil from Nigeria and expects a delivery in mid-October, the company said in a market filing. The order is due to “an increased demand” for oil on the Polish market, which according to its CEO Daniel Obajtek has gone up by 30 percent. “T...