JP Morgan increases its forecast for Poland’s GDP growth

JP Morgan economists have revised their GDP forecasts for Poland to 3.4 percent in 2017 (from the previous 3 percent) and to 3.2 percent in 2018 (from 3.1 percent). Furthermore, the bank doesn’t expect inflation to reach the Polish Central Bank (NBP) target of 2.5 percent and expects the interest ra...

Locked content Amazon to open its 4th logistic center in Poland

US e-commerce giant Amazon will open its fourth Polish logistic center in Sosnowiec, the company said. The new facility will handle independent SMEs that sell its products through the Amazon website. “Since 2014, we’ve invested over PLN 3 billion and created thousands of jobs in Poland,” Amazon’s op...

Locked content WSE suspends trading of Orco Property Group

WSE has suspended the trading of Orco Property Group shares after Poland’s financial watchdog KNF filed such motion. KNF demand stems from the Orco suspending its trade on the Luxembourg Stock Exchange. The company decided to withdraw its shares from the market after its majority shareholder, CPI Pr...

Locked content Eurostat: Energy consumption on the rise in Poland, falls in EU

According to Eurostat data, the gross energy consumption in Poland in 2015 amounted to 95.4 Mtoe (million tonnes of oil equivalent), which is up from 92.2 Mtoe used in 2005 and down from the 1990 levels of 103.3 Mtoe. Overall, throughout the EU, in 2015, 1,626 Mtoe of energy was consumed, down from ...

Locked content ZYX Target launches operations in Romania

IT company ZYX Target has launched its office in Romania and started working with three biggest local database wholesalers in the country, the company said, adding that it expects PLN 6 million income per annum from the local activity. “Data integration is a global trend that allows big companies to...

Locked content Poland waits for Trump first steps – Duda

Polish President Andrzej Duda, said that he awaits US President Donald Trump’s first steps, but it hopes it will remain its “We are waiting for US President Donald Trump’s first steps, we hope that he will conduct a balanced policy of a US guardian of peace and order in the world, just a...

Locked content Poles have PLN 32 bln in debt

According to the KRD Economic Information Bureau register of debtors, Polish consumers owe PLN 32.5 billion. The register accounts for debts exceeding PLN 200 and 60 days overdue. It currently lists over 2.2 million people. According to KRD, the average debtor is a 36-64-age-old man and lives in Maz...

Locked content Holland wins Silver Bear in Berlin

Polish film director Agnieszka Holland has won the Alfred Bauer Silver Bear prize at the Berlin International Film Festival for her film Pokot (Spoor). The movie, which some call dark comedy, some murder mystery has a strong anti-hunting message was awarded for “opening new perspectives on cinematic...

Locked content Kaczyński: Poland needs new, central airport

According to the ruling party Law and Justice (PiS) leader Jarosław Kaczyński, Poland should have a new, centralized airport with global connections, “so Poland won’t become a province,” Kaczyński said in an interview with Polish Radio. “In a country with a significant size but a round shape i...

Locked content Polish-Slovakian gas link with €108 mln EU financing

EU has granted €108 million subsidy for the Slovakian-Polish gas link project, Polish state pipeline operator Gaz-System said. The link will open the Slovakian market to gas supplies from Poland’s liquefied natural gas (LNG) terminal in Świnoujście. Gaz-System said the link is part of the Nort...