Locked content BGK with PLN 1.2 bln bonds issue

State bank BGK issued 1.2 million bonds worth PLN 1k each, the bank said in a market filing. The papers will mature in three years, till then BGK will pay interest to bondholders every six months. By end-March, BGK liabilities amount to PLN 80.6 billion, the bank said.  …

Locked content Housing permits on the rise – GUS

At end-April 2017, the number of housing permits has increased by 36.8 percent to 83,440, according to data released by the Central Statistics Office (GUS), moreover, the number of dwellings completed declined by 0.4 percent y/y to 50,935. The number of dwellings in which construction has begun also...

Locked content Demand for coal won’t change till 2030 – Tchórzewski

The demand for coal in Poland will remain at the same levels till 2030, energy minister Krzysztof Tchórzewski said. “The production level we currently have may stay the same, if only coal mines manage, but to 2030 demand for coal in Poland won’t decline if we are to cover demand for electrical...

Locked content Minimum wage to rise – Labor Ministry

Poland’s ministry of labor plans to increase minimum wage to PLN 2,100 from the current PLN 2,000 per month, minister of labor Elżbieta Rafalska said. If the proposal would be implemented, it would come into force starting from January 1 next year. The new minimum monthly wage would constitute...

Locked content WSE-listed companies with record-high average debt

While the number of indebted WSE-listed companies has dropped to 56, and the value of its debt has also fallen by 15 percent to PLN 27.3 million, which means that on average, a company owes nearly PLN 500 million, which is a record-high value, according to National Debt Registry (KRD) data. “The com...

Locked content Kaczyński blames EU migrant crisis on Merkel

Leader of the Poland’s ruling party Law and Justice (PiS) Jarosław Kaczyński blamed German Chancellor Angela Merkel on the ongoing migrant crisis in the EU. “ We have not opened Europe for refugees, Merkel has. And it is Merkel and Germany that have to bear the consequences, not Poland,” he sa...

Locked content PGE to pay PLN 4.51 bln for Polish EDF assets

WSE-listed, state-owned power utility PGE will pay PLN 4.51 billion for the Polish EDF assets, the company informed. The value of the transaction includes PLN 2.45 billion in equity value and PLN 2.06 billion in debt and is expected to be finalized the deal by January 2, 2018. PGE will also be oblig...

Locked content Fuel prices continue to fall

Average fuel prices decreased by PLN 0.05, while diesel prices fell by PLN 0.05 last week, according to BM Reflex, a fuel branch consultancy company, LPG prices declined by PLN 0.03. Currently, gasoline sells at PLN 4.54/liter, diesel at PLN 4.36/liter and LPG at PLN 2.06. “We are slowly approaching...