Locked content Erbud in consortium signs PLN 715.2 mln net deal

The consortium with Erbud unit PBDI signed a contract for the construction of a section of the S3 expressway from Kamienna Góra to Lubawka, Erbud said in a statement. The contract value is PLN 715.2 million net. The works, including obtaining a permit of use, should be completed within 31 months. PB...

Locked content Public mood slightly improves in October – CBOS

About 50 percent of Poles believe that the country goes in the right direction, according to the latest survey by pollster CBOS. This is by 2 percentage points more than in September. As many as 35 percent of respondents think that Poland’s current direction is wrong, 1 percentage point less than la...

Locked content Polish fund Innovation Nest invests in Portuguese startup

Innovation Nest, a Polish VC fund cooperating with companies creating IT solutions for the B2B sector, has invested in Infraspeak – a Portuguese startup offering a platform for managing hotel facilities, the fund said. This is already the third company from Portugal in Innovation Nest portfoli...

Locked content Fitch downgrades Bank Pekao rating to BBB+, outlook stable

Fitch Ratings has downgraded Bank Pekao long-term rating IDR to ‘BBB+’ from ‘A-‘. The outlook is stable. Pekao’s Viability Rating (VR) was downgraded to ‘bbb+’ from ‘a-‘. The downgrade of IDR and VR reflects the decline of the bank’s Fitch ...

Locked content PGNiG signs two deals for LNG supplies from US

PGNiG signed two binding agreements with US-based firms Venture Global Calcasieu Pass and Venture Global Plaquemines LNG for LNG supplies. Every year PGNiG will purchase 1 million tonnes of LNG from each of the companies. The contracts will last 20 years. Deliveries may be subject to further trading...

Locked content Industrial production in September grew in 24 industries – GUS

Industrial production in September grew on the annual basis in 24 out of 34 industries – the Central Statistical Office (GUS) reported. The increase was recorded, among others, in electricity, gas, steam and hot water (by 10.4 percent), production of metal (by 8.1 percent), machinery and equip...

Locked content Small stores sales up 5.7% y/y in September

In September sales in small format stores (up to 300 sqm) grew by 5.7 percent annually and declined by 9.7 percent monthly, Polish Chamber of Commerce (PIH) estimated. The sales were positively impacted by September warm weather. However, August was much hotter, therefore sales in categories correla...

Locked content Poles spent PLN 386.5 mln on private health insurance in H1

Almost 2.3 million Poles had additional health insurance at the end of H1, 14 percent more compared to a year ago.  The total value of acquired private health insurance amounted to PLN 386.5 million, a 19 percent increase y/y, according to Polish Chamber of Insurance (PIU). PIU reported that only sl...

Locked content Apator sees annual EBITDA growth of 13% by 2023

Apator expects an average annual EBITDA growth of 13 percent to about PLN 220 million in 2023, the company said in its strategy for 2019-2023. The revenue is expected to increase by about 8 percent to nearly PLN 1.4 billion in 2023. The company sees capital expenditures at about PLN 380 million in t...

World Bank raises Poland’s GDP growth forecast

The World Bank expects Poland’s GDP growth of 4.7 percent this year and of 3.9 percent in 2019. This is 0.5 percentage points higher for 2018 and 0.2 percentage points higher for 2019 compared to the April’s forecast.