Basic agricultural product prices up 2% y/y in Aug.

Last month prices for basic agricultural products, i.e. wheat, rye, beef, pork, poultry, and milk grew by 2.9 percent compared to July and by 2 percent y/y, Polish Central Statistical Office (GUS) reported. In August the purchase prices of most agricultural products rose on the monthly basis, with t...

Locked content Airbnb will be transparent about prices – EC

Airbnb will present its prices in a transparent way, EU Commissioner Viera Jourova said. Property rental site Airbnb promised to inform its clients clearly about the price of reservation, including additional fees, such as service fees and cleaning costs.  If it is not possible to provide the final ...

Locked content Farmers’ debt above PLN 412 mln

The debt in the agricultural sector amounts to PLN 412.5 million, according to KRD Economic Information Bureau. The average debt of a farmer is PLN 49,000. The major part of the debt, in the amount of PLN 266 million, comes from liabilities to banks, debt collection companies, and securitization fun...

Locked content Grupa Żywiec may pay PLN 68 mln fine

Grupa Żywiec may have to pay a PLN 68 million fine as a result of control by tax office in Katowice, the company informed. The control referred to the 2013 corporate tax declaration. According to the tax office protocol, Żywiec incorrectly accounted for revenues and costs related to the settlement o...

Locked content Small format stores sales up 5% in August

Sales in small format stores (up to 300 sqm) grew by 5 percent y/y and by 0.7 percent m/m in August, the Polish Chamber of Commerce PIH said. The number of transactions in the previous month decreased by 2 percent compared to August 2017. The average value of a transaction stood at PLN 13.92 in̷...

Locked content KKR will invest €125 million in InPost

InPost and the American company KKR signed an agreement under which  KKR will invest €125 million in InPost within 5.5 years. This will allow InPost to increase the scale of operations and launch new locations of self-service parcel machines, the Polish company said. Currently, InPost has 3,800 such...

Locked content Gino Rossi signs LoI with OTCF on Simple CP sale

Gino Rossi signed a Letter of Intent (LoI) with OTCF, the owner of the 4F brand, regarding the sale of 100 percent stake in Simple Creative Products (Simple CP), Gino Rossi said. OTCF will pay a deposit of PLN 1 million for the acquisition of shares. The final text of the transaction document should...

Locked content Medinice will debut on NewConnect on Sept. 25

Medinice will debut on NewConnect on Tuesday, September 25, the company informed. Earlier Medinice co-founder and main shareholder Sanjeev Choudhary told ISBnews that NewConnect debut is a transitional stage to enter the main market of the Warsaw Stock Exchange. Medinice is a Polish medtech company ...

Locked content Carrefour jointly with Wasbruk opens stores in new format

Carrefour Polska introduced a new store concept for petrol station operators. The retailer has already opened the first 11 stores in the new format jointly with Wasbruk. Carrefour is looking for other partners interested in running stores as franchisees. The store, depending on its size, offers abou...

Locked content TXM plans to increase import share to 70% in 2019

Clothing company TXM plans to further increase import share in sales to over 50 percent in Q1 2019. For some product categories the import target is up to 70 percent, CEO Marcin Gregorowicz said. He added that by the end of 2019 the import should grow to about 70 percent of total sales. In H1…...