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 ...

Locked content Average pay in December increases 7.1% m/m

The average salary in companies employing at least 10 people stood at PLN 4,635.77 before tax in December 2016, over PLN 300 (7.1 percent) more than in November of last year, according to statistics office GUS. The average pay increased by 2.7 percent year-on-year. Market consensus put the figure ev...

Locked content ABB to hire 2,000 at new SSC in Kraków

Swiss concern ABB will launch a new shared service center in Kraków, which will ultimately employ 2,000 people, Deputy Minister Mateusz Morawiecki announced at a press conference held in Davos, at the World Economic Forum. “This is the product of earlier talks, but we sealed the deal here, in Davos,...
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PKP Cargo looking east, as well as west, in 2017

The large state cargo and logistics operator, PKP Cargo, announced on Thursday that it will seek to expand its business with Chinese partners, as well as with existing western European partners, in 2017, and will expand its investment to modernize and improve domestic infrastructure. CEO Maciej Libi...
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Szydło, Rafalska announce changes for social programs for 2017

Polish Prime Minister Beata Szydło announced her responses to recently-implemented policies – such as changes to the minimum wage and increased disability benefits – by the Ministry of Labour, Family and Social Services, headed by Elżbieta Rafalska. She was speaking at a press conference on Thursday...

Locked content Mabion to issue shares abroad, altering strategy

Biotech company Mabion will issue 5 million shares in a public offering carried out abroad, according to draft resolutions made during its shareholder meeting on Tuesday, the company said in a press statement. However, it wasn’t specific on the issuing location. “The shares will be issued in a publi...

Locked content More funding coming for NCBR for innovative projects – Gowin

The National Research and Development Agency of Poland (the NCBiR), an executive agency of the Ministry of Science, will allot more than PLN 5 billion on innovative projects in 2017, according to Minister of Science Jaroslaw Gowin. He was speaking to reporters at a press briefing. “I want to emphasi...

Locked content Retail sales slow in December – GUS

Poland’s Central Statistical Office (GUS) released its latest figures for retail sales and also for industrial production on Thursday. It stated that retail sales had grown, y/y, by 6.4 percent in December (2016), which was a decrease in comparison with November, when they had grown at a pace of 6.6...