Locked content PKN Orlen lays out capital expenditure plans for 2017

PKN Orlen, which operates six refineries in Poland, Lithuania and the Czech Republic and also conducts mining operations in Canada, will increase its capital expenditures in 2017, in comparison to 2016, the company said in a press statement on Thursday. It will invest PLN 3.3 billion in development ...

Locked content PGO purchases Kopex

Polish foundry group Polska Grupa Odlewnicza (PGO) has acquired 100 percent of Kopex Foundry, paying a total of PLN 7 million, Polish Foundry stated in a press release on Thursday. PGO indicated that it felt the move would allow it to expand its operations. “As a result of the transaction, PGO [has ...

Locked content XTB net profits way up in December

The net profits of X-Trade Brokers, a Polish brokerage for speculators and investors that specializes in online trading of derivatives, rose during Q4, y/y, by 212 percent, to PLN 51.4 million (on PLN 94.1 million in revenues from operating activities). However, the group also noted in its Wednesday...
Image : Beataszydlo.pl

Reforms to Higher Education proceeding as planned – Szydło

Implementing educational reforms is “the most important task that [Education] Minister Anna Zalewska will carry out this year,” Prime Minister Beata Szydło stated on Wednesday. She was speaking, along with other ministers, including Zalewska and Minister of Science and Higher Education Jarosław Gowi...

Locked content Wholesale trade indicated year-on-year increases in December

The Central Office of Statistics (GUS) released data on Wednesday related to wholesale trade in retail and wholesale enterprises. Wholesale trade in wholesale enterprises in December grew by 9.2 percent, y/y, although they had dropped 2.0 percent, month-on-month. Meanwhile, retailers’ wholesal...

Locked content Warsaw Uprising hero, Brochwicz-Lewinski, honoured at funeral

Janusz Brochwicz-Lewinski, one of Poland’s soldiers from the Warsaw Uprising of 1944, was honoured by citizens and dignitaries, including Polish President Andrzej Duda, on Wednesday. The ceremony took place at the Powązki Military Cemetary in Warsaw. “Brochowicz-Lewinski was and will remain a role m...

Locked content Industrial orders up by 53% last month

Industrial orders, according to the Central Office of Statistics (GUS) grew in December, by 53 percent, y/y. In monthly terms, orders increased by 25.3 percent in December, after falling 4.3 percent in November. Meanwhile, new industrial purchases for exports grew by 28.6 percent y/y in December, af...

Locked content Unemployment steady in December

Poland’s unemployment rate edged up slightly in December, to 8.3 percent, according to the Central Office of Statistics. In November, it had been 8.2 percent. According to figures tallied from labor offices, the number of registered unemployed was 1.34 million last month. The figure was consistent w...

Locked content Poland needs belt-tightening past 2017 – Fitch

If Poland fails to tighten its fiscal policy after 2017, it could have negative consequences for the country’s rating, said Arnaud Louis, analyst at rating agency Fitch responsible for Poland. He added that the lower predictability of Polish politics could impact the country’s investment...