Locked content KGHM with $1.242 bln in impairments against foreign assets

WSE-listed silver and copper producer KGHM will write $1.242 billion in impairments including tax impact against foreign assets, including $1.03 billion for its Chilean mining operations in Sierra Gorda, the firm said in a market filing. Besides the Chilean copper mine, the impairments include, comp...

Locked content OFE pension funds to be dissolved in 2018 – Morawiecki

Deputy PM Mateusz Morawiecki said that Poland will implement its planned restructuring of OFE pension funds in 2018, effectively dissolving them. Under the plan announced back in 2016 by the ruling Law and Justice (PiS) government, 25 percent of OFE assets will be transferred to the state-owned Demo...

Locked content Business Link to invest PLN 100 million, mulls IPO

Start-up accelerator Business Link Poland,plans to invest further PLN 100 million in developing start-ups and is talking with potential investor. The company doesn’t rule out IPO as well, its co-founder Jacek Aleksandrowicz told ISBnews. The company currently has 13,650 sqm of office space and...
Image : Akumiszcza/Wikimedia Commons

Penderecki wins Grammy

Polish contemporary composer, Krzysztof Penderecki has won the Grammy award for the best choral performance with his Penderecki Conducts Penderecki, Volume 1, recorded by the Warsaw Philharmonic Orchestra and Chorus. This is his fifth Grammy, having previously won in 1988,1999, 2001 and 2013.

General government deficit lowest in 9 years

The general government deficit, i.e. the deficit of central and local governments and the social security funds controlled by these units, amounted to 2.3 percent of GDP last year and was the lowest since 2007, the European Commission said. For 2017-18, the Commission forecasts that deficit will amo...

Locked content President signs new harsh law on VAT frauds

President Andrzej Duda signed a new amendment to the penal code which makes VAT frauds exceeding PLN 10 million punishable by up to 25 years in prison. The new law will also allow multiple government agencies, including the Anti Corruption Bureau (CBA), Military Police, and Border Guard, to investig...
Image : Shutterstock

Locked content Poland with 682 MW new wind powerplants – report

Poland installed 628 MW of new wind energy capacity last year, according to a report published by WindEurope. This amounted for 5.5 percent of EU’s new capacity. The result is nearly twice as low compared to 2015, when 1,266 MW wind energy capacity was launched. Overall, in the EU, 12,490 MW w...

Locked content Mila supermarket chain mulls IPO

Supermarket chain Mila is considering IPO, company’s CEO Artur Góralczyk said in an interview with ISBnews. “We’re using the sector’s potential and want to focus on organic growth and increasing effectiveness. One of possible opportunities for growth is IPO,” he explained. “The sec...

Locked content PGZ with new CEO

Polska Grupa Zbrojeniowa (PGZ) CEO, Arkadiusz Siwko resigned from his post on Monday. Błażej Wojnicz, who previously ran Polish Defense Holding was appointed in his place. Siwko, who helmed the company since December 2015, did not give reason for his decision. Several media outlets, including daily ...