Locked content UOKiK fines BRW for misleading advertising

The Office of Competition and Consumer Protection (UOKiK) has imposed over PLN 260,000 fine on a furniture producer Black Red White (BRW) for misleading advertising.  In June 2017 BRW placed an advertisement “Furniture and Accessories without VAT”. It appeared, among others, on posters, ...

Locked content ECB keeps interest rates unchanged, in line with expectations

The European Central Bank (ECB) decided to keep interest rates at the current level, the bank said. The decision was in line with market expectations. The interest rate on the main refinancing operations remained at 0.00 percent. Interest rates on the marginal lending facility and the deposit facili...

Locked content Grupa Lotos plans to open 11 Subway restaurants in H1

Fuel giant Grupa Lotos, which currently manages 24 Subway restaurants, plans to open additional 11 in H1 2019, the company said. Almost half of Subway restaurants currently owned by Lotos are located next to motorways and expressways. Last year fuel company opened seven Subway points – in Rado...

Locked content Ovostar lowers egg production to 1.63 billion in 2018

Ovostar Union lowered eggs production by 1.63 billion in 2018 versus 1.66 billion a year earlier, the company said.  The volume of sold eggs in shell increased by 16 percent y/y to 1.38 billion. The share of exports remained at the level of 2017, ie 43 percent, while the volume of export sales grew ...

Locked content Ursus Bus in consortium signs PLN 38.3 mln contract

Ursus Bus in consortium signed a contract for delivery of 11 zero-emission electric buses to Szczecin. The deal value is PLN 38.29 million gross. The contract implementation is scheduled for the first quarter of 2020. The buses will be supplied under the tender, organized by the municipality of Szcz...

Locked content PKN Orlen Q4 net profit down at PLN 804 mln

PKN Orlen recorded Q4 consolidated net profit attributable to shareholders of PLN 804 million compared to PLN 1.59 billion a year ago. Operating profit fell to PLN 1.21 billion from PLN 1.99 billion y/y. EBITDA was PLN 1.24 billion compared to PLN 2.75 billion in Q4 2017. In the entire 2018, the com...

Locked content Carrefour Q4 sales grow despite Sunday trade ban

Supermarket retailer Carrefour Polska reported growth of Q4 and 2018 sales despite Sunday trade ban introduced in March last year.  Q4 revenue amounted to €615 million, showing an increase of 0.5 percent y/y, while like-for like sales rose by 2.1 percent y/y. In the entire 2018 sales stood at €2.11 ...

Locked content Morawiecki: budget deficit is seen at PLN 10-11 bln in 2018

The budget deficit for 2018 may amount to about PLN 10-11 billion, Prime Minister Mateusz Morawiecki estimated. “It was supposed to be about 1.5 percent of GDP, but it will probably be about 0.5 percent, i.e PLN 10-11 billion. This will occur primarily due to the effective policy tax,” M...

Locked content Grupa Kęty starts review of strategic options

Grupa Kęty launched a review of strategic options aimed at creating a development strategy for the coming years, the company said. The management will analyze the potential for further organic growth and development through mergers and acquisitions. In addition, it will review the assets and areas o...

Locked content Baltic Pipe to get €215 mln financing from EC

Baltic Pipe received about €215 financing from a funding instrument Connecting Europe Facility (CEF), the European Commission said. The pipeline between Denmark and Poland “will be crucial for the security of supply and market integration in the region,” the statement said. On Wednesday ...