Locked content Generali to buy Union Investment TFI

Insurance group Generali will acquire asset manager Union Investment from Union Asset Management Holding, Generali announced. “The acquisition of the Polish asset manager Union Investment TFI will significantly strengthen Generali’s presence in Poland,” the company claimed. “In Austria, CEE, and Rus...

Locked content PiS wins local elections but loses in most major cities

According to the exit polls conducted by Ipsos, the ruling Law and Justice (PiS) party has won the local elections with 32.3 percent. Second was Koalicja Obywatelska (Civic Platform and Nowoczesna) with 24.7 percent followed by Polish People’s Party (PSL) with 16.6 percent. Kukiz’15 had 6.3 percent ...

GUS: public deficit at 1.4%, debt at 50.6%

The deficit of the public sector stood at 1.4 percent of the GDP, while public debt amounted to 50.6 percent of GDP in 2017, according to GUS after slightly adjusting the preliminary estimates.

Locked content Pharmacy market sales reach PLN 2.8 bln in September

In September sales in the pharmacy market in Poland amounted to over PLN 2.82 billion, up by 4 percent y/y and 1.5 percent m/m, a report prepared by PEX PharmaSequence stated. An average pharmacy turnover in September was PLN 191,000, a 5.8 percent y/y growth. Retail price of an average pharmaceutic...

S&P: Budget deficit will grow in 2019

According to S&P Global Ratings analyst for Poland, Frank Gill, Poland’s deficit will increase next year ahead of the parliamentary elections. But should not exceed the 2 percent of GDP threshold.

Locked content Northvolt to open factory in Gdańsk

Swedish battery manufacturing startup Northvolt will build a factory in Gdańsk to produce battery systems for energy storage companies and the mining industry. It will partner up with major Tesla supplier South Bay Solutions. The plant will use cells from the company’s Swedish facility and develop s...

Locked content Leasing market grows by 18% in at end-Q3 – ZPL

The value of the leasing market increased in Poland by 18.7 percent y/y to reach PLN 58.2 billion in the first three quarters of this year, the Polish Leasing Association ZPL stated. According to the report, financing of passenger and delivery vehicles up to 3.5 tons constituted 45.9 percent of the ...

Locked content Bankruptcies down in September – KUKE

The number of bankruptcies in September totaled 33, a decrease of 42.7 percent y/y, according to data from the Export Credit Insurance Corporation (KUKE). In month-to-month term, the figure dropped by 34 percent. “Despite the continued difficult situation in the construction industry, mainly related...

Locked content Kernel FY net profit drops

WSE-listed food producer Kernel Holding recorded $52.14 million net profit in the financial year 2018, (July 1, 2017 – June 30, 2018)  compared with $176.24 million a year earlier, the company said in its financial report. The operating profit was down to $139.57 million from $265.04 million a...