Warsaw’s Cedet nominated in MIPIM Awards competition

The Cedet office and retail building in downtown Warsaw is one of the finalists in the prestigious MIPIM Awards architectural competition that will be held in March during the MIPIM international real estate fair in Cannes, France. The property has been nominated in the “Best Refurbished Building” c...

Locked content Taxi drivers in Madrid decided to end strike

Taxi drivers in Madrid decided on Wednesday to end a strike against online ride-hailing services like Uber or Cabify, which lasted for 16 days. A representative of the strike committee Julio Sanz said on Wednesday that nearly 54 percent of members voted in favor of finishing the protest. He added, h...

Locked content EU rejects planned Siemens-Alstom rail deal

EU regulators blocked the merger between the German and French train manufacturers Siemens and Alstom saying that it would have hurt competition and led to higher prices for consumers. “Without sufficient remedies, this merger would have resulted in higher prices for the signaling systems that keep ...

Locked content PERN starts expansion of Oil Terminal in Gdańsk

The construction of five oil tanks started in the Oil Terminal in Gdańsk owned by PERN. The company said that on Wednesday it handed over the construction site to the consortium implementing the project. The completion is scheduled for mid-October 2020. PERN Vice President Tadeusz Zwierzyński said t...

Locked content UOKiK initiates proceedings against GetBack

The Office of Competition and Consumer Protection  (UOKiK) initiated proceedings against debt collector GetBack. GetBack is accused of violating collective consumer interests, including misleading consumers about the investment safety and financial situation of the company.  The Office added that Ge...

Locked content Grupa Kęty sees 2019 net profit up at PLN 264 mln

Grupa Kęty expects to post a net profit of PLN 264 million in 2019, a 1 percent increase versus PLN 261 million estimated for 2018.  The company targets PLN 488 million EBITDA and PLN 344 million EBIT this year, compared to PLN 460 million and PLN 334 million, respectively, estimated for 2018. Reven...

Locked content Coal sales fell by 3.7 mln tons in 2018

Coal output in Poland decreased by 2.1 million tons and amounted to 63.4 million tons in 2018. Coal sales stood at 62.5 million tons, showing a decline of 3.7 million tons y/y, the Industrial Development Agency reported. In December mines extracted about 4.7 million tons of coal and sold less than 4...

Lidl’s biggest distribution center in Poland is now ready

Warsaw Stock Exchange-listed builder Budimex has recently finished construction work on the biggest distribution center of German discount retailer Lidl in Poland. The facility is located at Kałuszyn in the Mińsk Mazowiecki area in the Warsaw agglomeration and comprises approximately 58,000 sqm of u...

Locked content Almost every fifth travels without a ticket

As many as 18 percent of passengers travel without a valid ticket in public transport. Their total debt amounted to nearly PLN 400 mln, KRD Economic Information Bureau reported. The number of those, traveling without a ticket, grew by 24,000 during the last year.  Such behavior is common for Poles a...