S&P upgrades Poland’s rating to A-

Ratings agency S&P has upgraded Poland’s long and short-term rating in foreign currencies at “A-,” the agency stated on Friday. The ratings’ outlook is stable.

Locked content JSW extends PBSz negotiations

WSE-listed coal firm JSW signed an extension to its term sheet with Primetech (formerly Kopex) concerning takeover of engineering firm PBSz to December 4, the company said in a market filing. The initial deadline was set for three months after signing the term sheet document, but was extended after ...

Locked content Azoty shareholders approve takover

WSE-listed, state-controlled chemicals group Azoty shareholders approved the takeover of German Goat TopCo, the holding company controlling specialty fertilizer producer Compo Expert. Thus, all conditions necessary to finalize the deal have been met, Azoty said in a market filing. The firm “will und...

Locked content Fuel prices should stabilize

Although the wholesale gas prices are significantly dropping the retail prices went up again this week, and might be not the last ones this month, according to BM Reflex, a fuel branch consultancy company. Currently, gasoline sells at PLN 5.13/liter, diesel at PLN 5.17/liter and LPG at PLN 2.47. Thi...

Locked content PiS supports drops, PO inches up – CBOS poll

Ruling Law and Justice (PiS) party support has decreased by 3 percentage points to 40 percent, according to the poll conducted by CBOS. Civic Platform (PO) was second with 19 percent support, up by 1 percentage points m/m. Kukiz ’15 was third with 8 percent support (up by 1 pps) and PSL was fourth w...

Locked content KNF: Banking sector grows 11.7% at end-August

The banking sector recorded an aggregated net profit of PLN 10.43 billion at end-August, according to data from the Financial Supervision Authority (KNF), representing an 11.7 percent growth y/y. Banks’ net interest income grew by 8.6 percent y/y to PLN 30.33 billion. Net fees and commissions came i...

Locked content OFEs transfers PLN 625 mln to ZUS in September

Private pension funds OFE transferred PLN 625.9 million to the Social Security Fund ZUS under the pre-retirement asset shift in September. In the other direction, PLN 241.3 million in premiums were transferred. Under the Polish law, each OFE member has their assets transferred to ZUS over the 10-yea...

Locked content WSE signs cooperation deal with Chinese peer

The Warsaw Stock Exchange (WSE) and the Shenzhen Stock Exchange (SZSE) signed a memorandum of cooperation aimed at exchanging information and experiences, which is aimed at increasing the investment opportunities of companies through stock exchanges in both countries, the companies said. “We see the...