Poland plans to use 60% of coal for energy by 2030

Coal should account for 60 percent of the energy mix in Poland by 2030, according to the draft of Poland’s energy policy until 2040. The decrease of coal share to below 30 percent is expected by 2040. According to the plan, in 2033 the first nuclear power plant will be built, and then a new nu...

Locked content Jacek Jastrzębski becomes new KNF head

On Friday Prime Minister Mateusz Morawiecki appointed Jacek Jastrzębski as the Chairman of the Financial Supervision Authority (KNF), Government Information Center (CIR) said. Jacek Jastrzębski is a professor at Warsaw University’s Faculty of Civil Law and Administration. The new KNF head was ...

Locked content JSW sees 2018 coal production at 15 mln tons

Jastrzębska Spółka Węglowa (JSW) expects a coal output of 15 million tons this year. In 2019 the company plans further increase of output by several percent, JSW said in a statement. During the 9 months of 2018, JSW produced 11.28 million tons of coal, an increase of 1.9 percent y/y. Coke output gre...

Locked content Public mood improves in November – CBOS

About 53 percent of Poles believe that the country goes in the right direction, according to the latest survey by pollster CBOS. This is by 3 percentage points more than in October and is one of the highest results in the history of the survey. As many as 29 percent of respondents think that Poland&...

Locked content Monnari Trade ends talks to buy Simple

Monnari Trade terminated negotiations regarding the acquisition of Simple Creative Products from Gino Rossi, the company said. The talks were ended due to the lack of agreement with the bank PKO BP SA (Simple lender), Monnari Trade specified. At the beginning of October, Monnari Trade submitted a bi...

Locked content Michelin to invest PLN 169 mln in Olsztyn factory

Michelin will invest PLN 169 million in the Olsztyn tire plant. The funds will be used to modernize production lines, which will allow manufacturing of up to 5 million units of premium tires annually. In addition, 66 new workplaces will be created in the factory, the company spokesperson said. Frenc...

Locked content ECB notes economic uncertainties, waits for 2021 outlook

The European Central Bank (ECB) admitted the uncertainties in the economy, however, decided that they are insufficient to revise GDP growth risk assessment, according to the minutes of the ECB October meeting. “It needed to be emphasized that the incoming data, while somewhat weaker than expected, r...

Locked content LOT opens 10 charter destinations in winter season

In the current winter season, LOT will have direct charter flights from Warsaw to ten cities in the world as a result of the agreements with Rainbow Tours and TUI Poland, the airline said on Thursday. The destinations include, among others, Brazil, Thailand, Vietnam, and Kenya. “According to t...

Every fourth Pole plans to buy on Black Friday – SCB

Every fourth Pole wants to buy something on Black Friday. This is 7 percentage points more than in 2017, according to Santander Consumer Bank. Every third woman and 16 percent of men want to get Black Friday deals. Most respondents want to buy clothes and shoes (71 percent) followed by pcs and lapto...

Locked content Retail sales up 7.8% y/y in October

In October retail sales in Poland grew by 7.8 percent y/y following a 6.6 percent increase in September, Poland’s Central Statistical Office (GUS reported). “The data confirms the good conjuncture in retail trade, supported by the situation on the labor market and favorable moods of hous...