Locked content Polish Senate swears in new MPC member

On Wednesday, Poland’s Senate welcomed Rafał Sura, a member of the Law and Justice (PiS) party, who will now head the Monetary Policy Council. The new MPC member replaced Marek Chrzanowski, who resigned in October. Chrzanowski was later appointed chairman of the Financial Supervision Commission (KNF...

Locked content Lufthansa subsidiary hopes to expand in Poland

Xeos, a subsidiary of Lufthansa and GE which repairs aircraft engines, announced this week that it plans to open a repair facility in Silesia, which it says will employ as many as 600 people, according to a report in Puls Biznesu on Thursday. The €250 million factory is set to be built in the Legnic...

Locked content Morawiecki: “We are dealing with a cyclical slowdown”

Concerns regarding Poland’s lower-than-expected economic growth during Q3 can be attributed to a European, as well as an international, downturn in economic growth, Polish Deputy PM and Minister of Finance Mateusz Morawiecki told the Polish press on Thursday. “We are (still) one of the fastest-expan...

Marvipol to sell Prosta Tower in Warsaw

Developer Marvipol has signed a preliminary agreement with an international investment fund regarding the sale of its Prosta Tower office building in Warsaw. The transaction, which is expected to be finalized in January next year, is valued at €26.7 million. Completed in 2011, the Prosta Tower build...

Locked content Kuehne + Nagel working with Michelin Poland

On Wednesday, one of Germany’s leading freight forwarding companies will begin operations with Michelin at its distribution centre near Warsaw, according to Kuehne + Nagel’s website. The agreement stipulates that the company will manage Michelin’s warehouse activities in Poland, including taking ove...

Euro Styl unveils Centaurus in Olsztyn

Tri-City-based developer Euro Styl has presented a new architectural vision for its planned Centaurus mixed-use project in Olsztyn in north-eastern Poland. The company has also launched pre-sales of the apartments that will be developed in the residential section of the scheme. The Centaurus develop...

Locked content Deutsche Bank AG pulling out of Poland – banking industry sources

A report on Wednesday stated that it had strong evidence from industry sources indicating Deutsche Bank AG will close its unit in Poland within the next year, according to Reuters news. “The axe is coming for DB Securities this time,” one of the sources said. The report indicated that the possible c...

Locked content PIU: Number of Poles with insurance way up in 2016

The number of people in Poland opting for private health insurance rose by 26 percent, y/y, according to a report in the Polish press on Wednesday. According to the Polish Insurance Association (PIU), at the end of Q2, 1.67 million Poles had health insurance, contributing PLN 263.5 million to the ma...

Locked content PiS legislation on retirement age passed in Sejm

Piotr Duda, the head of Poland’s Solidarity Union, raised his arm and gave the victory signal in the Polish Parliament on Wednesday, as the government passed its much-touted reforms of the age of retirement law, according to a news release in the Polish press. “This is a happy day for all employees,...