Locked content Naimski sees coal share in energy mix at 50% in 25-30 years

According to the Ministry of Energy strategy, the share of coal in the energy mix will be at 50 percent in the 25-30 years perspective compared to around 80 percent currently, Piotr Naimski, the government’s official responsible for key energy infrastructure said. The Minister of Energy Krzysz...

Locked content No significant changes expected in monetary policy – Ancyparowicz

No significant changes are expected in the monetary policy in the coming quarters, according to the Monetary Policy Council (RPP) Grażyna Ancyparowicz. “At the moment, we believe that rates are optimal, there should not be significant changes in monetary policy in the coming quarters. If something c...

Locked content Polnord names Marcin Gomoła new CEO

Polnord named Marcin Gomoła as the new CEO as of December 1 within current term of office, i.e. 2017-2020. Polnord supervisory board also appointed Marcin Mosz to the company’s management board. Since 2008 Marcin Gomoła has been associated with the Warsaw Stock Exchange. He worked in Informati...

Locked content PGNiG buys interest in Tommeilten discovery for $220 mln

PGNiG Upstream Norway, part of PGNiG Group, signed an agreement to buy an interest in Tommeilten Alpha gas and condensate field in Norway from Equinor. The purchase price was agreed at $220 million. According to PGNiG estimates, the acquisition will allow increasing gas production output from Norweg...

Locked content Public mood slightly improves in October – CBOS

About 50 percent of Poles believe that the country goes in the right direction, according to the latest survey by pollster CBOS. This is by 2 percentage points more than in September. As many as 35 percent of respondents think that Poland’s current direction is wrong, 1 percentage point less than la...

Locked content Polish fund Innovation Nest invests in Portuguese startup

Innovation Nest, a Polish VC fund cooperating with companies creating IT solutions for the B2B sector, has invested in Infraspeak – a Portuguese startup offering a platform for managing hotel facilities, the fund said. This is already the third company from Portugal in Innovation Nest portfoli...

Locked content Fitch downgrades Bank Pekao rating to BBB+, outlook stable

Fitch Ratings has downgraded Bank Pekao long-term rating IDR to ‘BBB+’ from ‘A-‘. The outlook is stable. Pekao’s Viability Rating (VR) was downgraded to ‘bbb+’ from ‘a-‘. The downgrade of IDR and VR reflects the decline of the bank’s Fitch ...

Locked content PGNiG signs two deals for LNG supplies from US

PGNiG signed two binding agreements with US-based firms Venture Global Calcasieu Pass and Venture Global Plaquemines LNG for LNG supplies. Every year PGNiG will purchase 1 million tonnes of LNG from each of the companies. The contracts will last 20 years. Deliveries may be subject to further trading...

Locked content Industrial production in September grew in 24 industries – GUS

Industrial production in September grew on the annual basis in 24 out of 34 industries – the Central Statistical Office (GUS) reported. The increase was recorded, among others, in electricity, gas, steam and hot water (by 10.4 percent), production of metal (by 8.1 percent), machinery and equip...

Locked content Small stores sales up 5.7% y/y in September

In September sales in small format stores (up to 300 sqm) grew by 5.7 percent annually and declined by 9.7 percent monthly, Polish Chamber of Commerce (PIH) estimated. The sales were positively impacted by September warm weather. However, August was much hotter, therefore sales in categories correla...