Locked content NATO should help solve Smoleńsk crash case – Defense Minister

Poland’s Defense Minister Antoni Macierewicz said during the NATO summit in Brussels, that the alliance should get involved in helping Poland clarify all the issues regarding the Smoleńsk plane crash that killed 96 people, including Polish President Lech Kaczyński, twin brother of the leader o...

Locked content mBank to invest €50 million in start-ups

WSE-listed lender mBank has set up a €50 million fund for buying and developing Polish start-ups. “So far if someone in Poland had a good idea the best advice was to buy a ticket to San Francisco or London and develop your idea there,” Jarosław Mastalerz, head of the fund, said, explaining that the ...

Locked content Government sending mixed signals regarding repolonization

Cabinet minister Henryk Kowalczyk said in an interview with TV Republika that the treasury should increase its stakes in PKN Orlen and Grupa Azoty, while suggesting that Orlen and Lotos should merge. The energy ministry later said that no such plans are currently being developed. “The level of holdi...

Locked content PGNiG with PLN 0.69 bln Q4 net profit

WSE-listed gas giant PGNiG had a PLN 0.69 billion in net profits for Q4, according to the company’s preliminary financial report. The Q4 EBIT was PLN 1.02 billion, while EBITDA at PLN 1.69 billion. The revenue stood at PLN 10 billion. For the whole 2016, the net profit was PLN 2.32 billion. Th...

Locked content Shake-up in the KNF management

Poland’s financial market watchdog KNF let go deputy CEOs Wojciech Kwaśniak and Lesław Gajek and appointed Filip Świtała and Marcin Pachucki in their place. No reason were given for the dismissal. Kwaśniak held the position since 2011, while Gajek took his post three years earlier. Świtała wil...

Locked content Netia beats profit expectations

WSE-listed telecom had PLN 2.4 million net profit in Q4 compared to PLN loss that analysts expected. In revenues, the company posted a 7.7 percent drop quarter-to-quarter with PLN 371.7 million. For the full 2016 results, the revenue stood at PLN 1.52 billion and were 3 percent lower year-on-year Lo...

Real household income grew by 5.9% in Q3 – NBP

According to the Polish Central Bank (NBP) report, the real household income increased in Q3 last year by 5.9 percent in year-on-year terms. The growth was mostly due to social programs like the Family 500+ program, NBP stated. “The Family 500+ program was responsible for 3.3 percentage point growth...

Locked content EU adopts ETS climate change draft. Lowers cap

A draft reform of Europe’s emissions trading system (ETS) has been adopted by the European Parliament. The cap of 2.4 percent decrease each year in emissions,proposed by the parliament’s environment committee was lowered to 2.2 percent after strong campaigning from Polish MEPs. The cap-and-tra...

Locked content Żywiec with PLN 272.6 mln profit in 2016

WSE-listed, Polish unit of Heineken, Żywiec suffered a 8.6 percent year-on-year decrease in net profit to PLN 276.million. Revenues declined by 23.6 percent y/y to PLN 2.39 billion due to the sale of distribution unit Distribev, the company said in a market filing. According to Żywiec CEO Guillaume ...