Locked content Ursus Q3 net result turns to loss of PLN 24 mln

Farm machinery producer Ursus recorded PLN 24.01 million of consolidated net loss attributable to shareholders in Q3 versus a profit of PLN 3.74 million a year ago. Revenue fell to PLN 67.24 million from PLN 90.3 million in Q3 2017. In the 9-month period revenue stood at PLN 142.41 million compared ...

Locked content PGZ in consortium to deliver 40 drones for Polish Army

A consortium of PGZ and its units signed an agreement to supply 40 short-range drones for the Polish Army, the Ministry of National Defense informed. The contract value is PLN 789.7 million. Under the contract, 8 unmanned aerial vehicle systems will be delivered with an option right to buy 4 additio...

42% of global coal power plants run at a loss – Carbon Tracker

Two-fifths of the world’s coal power stations are already running at a loss because of high fuel costs, Carbon Tracker study revealed. For 35 percent of coal power plants, operating costs exceed the costs of building new renewable energy sources, the report added. By 2030 this number is expected to ...

Locked content Railway with 7% more passengers in October

As many as 28 million passengers traveled in Poland by train in October, according to the data released by the Office of Rail Transport (UTK). This is almost 7 percent increase versus a year ago. The average distance traveled by a passenger in October was 67 km. From the beginning of the year, the r...

Locked content GDP growth seen at about 5% in 2018 – analysts

Analysts expect GDP growth in 2018 at about 5 percent despite the expected slowdown in Q4. Domestic consumption remains the main driver of the Polish economy, and a clear investment recovery was recorded in Q3, analysts said. On Friday Poland Central Statistical Office (GUS) reported that seasonally...

Locked content Erbud unit in consortium wins PLN 139.1 mln tender

The consortium with Erbud unit won a PLN 139.1 million tender for the construction of a tram route in Bydgoszcz,  Erbud said in a statement.  PBDI, in which Erbud holds a 90 percent stake, is the leader of the consortium. The other members are Gotowski and TOR-KRAK. According to the framework contra...

Locked content BIEC: Economic sentiment grows in November

The leading indicator of economic sentiment (WWK) in Poland estimated by the Bureau for Investments and Economic Cycles (BIEC) grew by 2.2 points monthly and stood at 109.0 points in November. According to the European Commission’s Directorate-General for Economic and Financial Affairs (DG EcF...

Locked content Sejm plans amendments to Sunday trade ban

Polish Sejm plans to adjust Sunday trade ban in order to stop shops registered as post offices from working on non-trading days. The bill clarifies that post services should be the “predominant activity” and specifies its definition. If trading is the predominant activity, the shop shoul...

Locked content Mostostal Warszawa Q3 net result turns to loss of PLN 4.6 mln

Mostostal Warszawa recorded consolidated net loss attributable to shareholders of PLN 4.6 million versus a profit of PLN 0.01 million a year ago, the company reported.  Operating loss amounted to PLN 0.47 million compared to a profit of PLN 7.53 million y/y. Revenue grew to PLN 264.85 million from P...

Locked content Tax-to-GDP ratio at 35.1% in Poland – Eurostat

In 2017 tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of Gross Domestic Product stood at 35.1 percent in Poland, Eurostat reported.  A year ago it was 34.5 percent, Eurostat reported. An average tax-to-GDP ratio in the European Union grew to 40.2 percent in ...