Locked content Cyfrowy Polsat CEO Tobias Solorz steps down

Tobias Solorz filed a resignation from Cyfrowy Polsat CEO post as of March 31, the company said. Solorz also decided to leave CEO post of Cyfrowy Polsat unit Polkomtel, which he held since 2014. Supervisory Board appointed Mirosław Błaszczyk, the current head of Telewizja Polsat, as Cyfrowy Polsat C...

Locked content PKN Orlen will buy about 240,000 tons of crude oil from Nigeria

PKN Orlen will buy nearly 240,000 tonnes of crude oil from Nigeria, which will be delivered to Naftoport in Gdańsk in January and March, the company informed. “Only in the last quarter of the last year, we had spot deliveries from three new directions – Angola, United Arab Emirates, and ...

Locked content Pharma market grew by 10.5% in December

The value of sales on the pharmaceutical market increased by 10.5 percent y/y in December to PLN 3.14 billion, according to PEX PharmaSequence data. On a monthly basis, sales rose by 4.2 percent. Turnover of an average pharmacy stood at PLN 214,000 in 2018 and was by 13.8 percent higher compared to ...

Locked content Start-up Hotailors starts expansion in U.S.

Polish start-up Hotailors started development on the U.S. market. Hotailors specializes in simplifying the organization of business trips for companies. Its partners include EY, Amadeus, Google, and Microsoft. “Microsoft is our technology partner, Google is our first global customer, ” H...

Locked content Number of millionaires grows at 10% per annum in Poland

Over the next five years the number of millionaires in Poland will grow annually by about 10 percent, Wealth-X agency estimated. Wealth-X collects the data about high-net-worth individuals, whose assets exceed $1 million. In Europe, Poland has the highest growth rate. Worldwide, only in Nigeria, Egy...

Locked content Solaris wins €17 mln contract in France

Manufacturer of public transport vehicles Solaris Bus & Coach won €17 million contract to deliver 22 trolleybuses to Saint-Etienne. The French company should receive trolleybuses in 2019-2022. Under the contract, there is an option to order two additional trolleybuses. Solaris started working on...

U.S. suspects Huawei in theft of trade secrets – WSJ

U.S. federal authorities are pursuing an investigation of China’s Huawei for allegedly stealing trade secrets from U.S. business partners, including technology used by T-Mobile US Inc to test smartphones, Wall Street Journal reported citing sources. The investigation is tied to civil suits fil...

Locked content Złoty stable despite Brexit vote

Despite U.K. Parlament’s Rejection of Brexit deal, foreign exchange markets reacted moderately. GBP/PLN exchange rate has even strengthened, showing that upward trend in the near future is possible. From the beginning of December, złoty grew from 4.75 to 4.8, and after the vote extended gains ...

Locked content Bank Millennium plans to issue up to PLN 830 mln bonds

Bank Millennium plans to issue up to 1660 W series bonds for a maximum nominal value of PLN 830 million, the bank said. The bonds will be issued as part of the program approved in April 2015. The bonds have a 10-year maturity, and the bank has a call option, i.e. the right to buy…

Locked content PGNiG signs agreement for oil and gas exploration in UAE

PGNiG signed an agreement with Ras Al Khaimah Petroleum Authority and RAK Gas allowing the Polish company to explore for and produce hydrocarbons in the emirate of Ras al Khaimah. Initially, the works will be carried out in three exploration stages, two-years each, and will be followed by a 30-year ...