Locked content Croatia to aid its franc borrowers

Croatian PM Zoran Milanovic has authored a plan to help Croatian franc borrowers. The Croatian government will freeze the franc-kuna exchange rate at the level it was before the dramatic 17 percent rise of the CHF. This scenario is to be maintained for one year and the banking system will be forced ...

Rail workers in labor dispute with PKP Cargo

Besides the miners, a rail workers’ union has addressed several demands to the management of PKP Cargo including allowance pay for travel and meals at work. The demands were drafted on January 13, during the miners’ strike. Due to a lack of resolution, both sides are in a labor dispute.

Locked content LOT Cargo with new connections to New York City

Due to lower volumes of passenger flights in the month of February, LOT Cargo has decided to implement two freight flights to New York in that month. A single LOT Cargo flight will fly to New York in the months of January-April and October-December. Cargo flights are able to carry as much as 48 tons...

Locked content Korwin Mikke to start a new political grouping

European Parliamentarian and former leader of the New Right Congress (KNP) Janusz Korwin-Mikke will exit the KNP and start up a new political grouping. Rzeczpospolita daily reported that MP Przemysław Wipler will join Korwin-Mikke. A few former colleagues from KNP may also opt to join the new party....

Locked content Most attractive M&A sectors – Health, retail and TMT

The most attractive merger and acquisition sectors in Poland are the health care sector, retail and TMT, according to Allen & Overy Law Firm partner Jarosław Iwanicki. The law firm published a report regarding M&A activity on the global market. It turns out that 2014 was the most active year...

Locked content Vectra fined for prolonging contracts without clients’ consent

Vectra, an internet service provider will be fined PLN 493,252 for prolonging users’ contracts without their explicit permission. The six-month contracts signed by clients were automatically prolonged. The Polish Office of Competition and Consumer Protection (UOKiK) announced that “furth...

Locked content Siemoniak assures Poles, plays down hawkish attitudes

Minister of Defence, Tomasz Siemoniak was interviewed by TVN24 on the current state of affairs in defense issues. “Poland is not threatened by an attack, we are a NATO member and we should do everything to take care of our own security,” Poland’s defence minister was quoted as saying by Polish...

Locked content Polish Steamship Company to buy four new ships

The Polish Steamship Company (Polska Żegluga Morska – PŻM), a cargo ship operator, has signed a deal with Chinese Jiangsu Yangzijiang Shipbuilding company for a construction of four new bulk carriers with a capacity of 36,500 DWT. The contract is worth $100 million and provides an option for constru...

Locked content Germany remains Poland’s main trade partner

Germany’s share in the Polish volume of exports grew by 0.9 percent y/y and amounted to 26.1 percent throughout January-November 2014, Central Statistical Office (GUS) informed. Russia’s and Ukraine’s share decreased by 1 percent and 0.9 percent, respectively and totaled 4.3 percent and 1.9 percent ...

Locked content Mining crisis continues

Another four Kompania Weglowa’ mines started to strike. Several hundred miners from Chwałowice, Jankowice, Mercel, Rydułtowy-Anna have been protesting underground since Monday. That increased the number of protesters roughly by 800 people. Prime Minister Ewa Kopacz met with labor unions in Katowice ...