Locked content Getin Noble and Idea Bank set merger terms

Getin Noble Bank (GNB) and Idea Bank agreed and signed a merger plan. The legal consolidation of the banks, both controlled by Polish magnate Leszek Czarnecki, is planned for Q3 2019, following the necessary approval of the Polish Financial Supervision Authority (KNF). Under the plan, the watchdog s...

Locked content Employment in business sector seen up at 2.8% in December – anal...

December 2018 showed a decline in the growth rate of employment in the business sector (in annual terms) compared to the previous month. The growth rate of wages in this sector slowed down as well, economists surveyed by ISBnews said. Eleven surveyed analysts expect employment growth to reach 2.7-2....

Locked content Cyfrowy Polsat CEO Tobias Solorz steps down

Tobias Solorz filed a resignation from Cyfrowy Polsat CEO post as of March 31, the company said. Solorz also decided to leave CEO post of Cyfrowy Polsat unit Polkomtel, which he held since 2014. Supervisory Board appointed Mirosław Błaszczyk, the current head of Telewizja Polsat, as Cyfrowy Polsat C...

Locked content PKN Orlen will buy about 240,000 tons of crude oil from Nigeria

PKN Orlen will buy nearly 240,000 tonnes of crude oil from Nigeria, which will be delivered to Naftoport in Gdańsk in January and March, the company informed. “Only in the last quarter of the last year, we had spot deliveries from three new directions – Angola, United Arab Emirates, and ...

Locked content Pharma market grew by 10.5% in December

The value of sales on the pharmaceutical market increased by 10.5 percent y/y in December to PLN 3.14 billion, according to PEX PharmaSequence data. On a monthly basis, sales rose by 4.2 percent. Turnover of an average pharmacy stood at PLN 214,000 in 2018 and was by 13.8 percent higher compared to ...

Locked content Start-up Hotailors starts expansion in U.S.

Polish start-up Hotailors started development on the U.S. market. Hotailors specializes in simplifying the organization of business trips for companies. Its partners include EY, Amadeus, Google, and Microsoft. “Microsoft is our technology partner, Google is our first global customer, ” H...

Locked content Number of millionaires grows at 10% per annum in Poland

Over the next five years the number of millionaires in Poland will grow annually by about 10 percent, Wealth-X agency estimated. Wealth-X collects the data about high-net-worth individuals, whose assets exceed $1 million. In Europe, Poland has the highest growth rate. Worldwide, only in Nigeria, Egy...

Locked content Solaris wins €17 mln contract in France

Manufacturer of public transport vehicles Solaris Bus & Coach won €17 million contract to deliver 22 trolleybuses to Saint-Etienne. The French company should receive trolleybuses in 2019-2022. Under the contract, there is an option to order two additional trolleybuses. Solaris started working on...

U.S. suspects Huawei in theft of trade secrets – WSJ

U.S. federal authorities are pursuing an investigation of China’s Huawei for allegedly stealing trade secrets from U.S. business partners, including technology used by T-Mobile US Inc to test smartphones, Wall Street Journal reported citing sources. The investigation is tied to civil suits fil...

Locked content Złoty stable despite Brexit vote

Despite U.K. Parlament’s Rejection of Brexit deal, foreign exchange markets reacted moderately. GBP/PLN exchange rate has even strengthened, showing that upward trend in the near future is possible. From the beginning of December, złoty grew from 4.75 to 4.8, and after the vote extended gains ...