Locked content Lufthansa cancels 40 flights to and from Poland

Due to warning strikes at four German airports, 40 Lufthansa flights to and from Poland will be canceled on Tuesday the airline announced. Flights to Frankfurt from Warsaw, Krakow, Gdansk and Wroclaw, and to Munich from Poznań will be affected. The warning strikes at Frankfurt, Munich, Cologne and B...

Girls go start-up! Academy second edition launched

The second edition of the Girls go start-up! Academy program was launched on November 6. The 12-months mentoring and training program is aimed at women interested in founding their own tech start-up. The program is primarily directed at female STEM (Science, Technology, Engineering and Mathematics) ...

Locked content Tourism grows 6.7% y/y in H1 2017 – GUS

In the first six months of 2017, a total of 14.2 million people stayed in hospitality facilities in Poland, including 2.9 million foreigners, GUS informed. The number of tourists in total increased by 6.7 percent compared to the corresponding period of last year. The majority of tourists stayed in h...

Locked content Gobarto acquires meat producer Jama

Gobarto has acquired wholesale meat producer Jama, based in Wałbrzych, Gobarto stated in a market filing. The base value of the transaction is PLN 12 million, which may change depending on the value of the balance sheet upon closing. In April 2017, Gobarto entered into a conditional purchase agreeme...

Locked content UOKiK launches proceedings agains three banks

Consumer watchdog UOKiK has initiated proceedings against lenders BPH, PKO BP and Pekao in relation to the way the banks calculated spreads on mortgage loans denominated in foreign currencies, UOKiK stated. The consumer protection office is alleging that the banks used imprecise wording in their mor...

Locked content CCC with slower sales growth in October

Footwear retailer CCC recorded consolidated revenue of PLN 466 million in October, 1.2 percent higher than in October 2016, the company stated. For the first 10 months of the year, revenue stood at PLN 3.3 billion, marking a 30.9 percent increase y/y. Revenue in traditional stores was 6.9 percent lo...

Locked content LPP with 7% revenue growth y/y in October

Fashion retailer LPP has posted consolidated revenue from sales of PLN 657 million in October, marking a 7 percent increase y/y. For the January-October period, revenue amounted to PLN 5.544 billion, which is 16 percent higher than in the corresponding period of last year. Gross sales margin in Octo...

Locked content A2 construction in 2017-2024 with ministry approval

The Ministry of Infrastructure and Construction has approved 22 investment road construction programs, whose total value is estimated at over PLN 3.75 billion, the ministry stated. The approved projects include the construction of the A2 highway between Warsaw and Siedlce, eastern Poland, which will...

Locked content PE fund acquires food producer Hortex

Private equity fund Mid Europa Partners has signed an agreement to acquire 100 percent of shares of juice, drinks and frozen fruit and vegetable producer Hortex from a fund controlled by Argan Capital, they buyer stated. The deal is subject to an approval from consumer watchdog UOKiK and it is set t...