Poland’s Central Bank could hike interest rates – Żyżyński

The Central Bank of Poland could raise its benchmark lending rate if inflation rises, as is predicted, one of the Bank’s monetary policy council members Jerzy Żyżyński, told reporters on Friday. “I know the rules – if we reach the inflation target, then we will have to consider the possibility of a ...
Mateusz Morawiecki

PM Szydło defends govt’s economic development record so far

Prime Minister Beata Szydło will meet with Deputy Prime Minister and Minister of Finance and Development Mateusz Morawiecki in order to review ongoing economic development plans. “We will talk about the tasks under the plan for the responsible development,” announced Szydło during an interview with ...

Locked content PKP joins Strabag Rail to modernize projects in Rybnik

The consortium of Traction PRKil, Strabag, Strabag Rail, Comsa and ZUE concluded a contract with PKP Polish Railways (PKP PLK) to modernize railway lines in Rybnik, according to a press release by the Strabag on Friday. The contract was reported to be worth PLN 459.7 million. Construction work, incl...

Locked content Ailleron to team up with Greek bank to provide innovative services

Poland’s tech company Ailleron will expand its e-banking services by partnering with the biggest bank in Greece, Piraeus Bank, the company said in a press release on Friday. The new partnership will involve the use of solutions of Ailleron’s “LiveBank” – its unique technology – to create self-servic...

Locked content PGG records increase in profits, plans to trim costs

Poland Mining Group (PGG) reported a positive financial result in December, the company said in its Twitter statement on Friday. “For the third consecutive month, PGG recorded a positive financial result, earning [profits] on each ton of coal sold,” part of the statement read. In December of 2016, E...
szydlo

PM Szydło asked about nepotism in state-owned companies

Polish Prime Minister Beat Szydło stated that investigations into political patronage appointments to Law and Justice (PiS) family members in state-owned companies will be revealed in time. She was referring to the allegations as to nepotism exercised by her party members, while speaking to reporter...

Locked content PGNiG teaming up with Pakistani company for more gas drilling

Poland’s largest oil and gas company will drill for more gas in Pakistan’s Rehman deposit. The company said in a press release on Friday that it had been granted a concession for 25 years, with possibility of extension. It has already been extracting gas in the area since 2005. “For the remainder of...

Locked content Sold industrial output up 2.3% y/y in December 2016

Sold industrial output grew by 2.3 percent year-on-year in December 2016, and fell by 4.3 percent month-on-month (due to the seasonal factor, as December has fewer working days than November), statistics office GUS said in a statement. After eliminating seasonal factors, sold industrial production w...

FM Logistic completes expansion project in Błonie

Logistics operator FM Logistic has added an additional 14,000 sqm to its distribution center in Błonie, near Warsaw, to a total of 68,000 sqm. The expansion cost PLN 29 million. The recently delivered facility offers storage space for pharmaceutics, medical products and cosmetics. It can be divided ...