Image : Tauron Polska Energia

Tauron hit by PLN 500 mln lawsuit by wind farm firm

WSE-listed, state-owned utility Tauron has been sued by wind farm company Gorczyca Wind Invest for terminating a long-term contract for the deliveries of electricity and green certificates by Tauron subsidiary Polska Energia – Pierwsza Kompania Handlowa.

Poland revamps its de minimis guarantee system

The Polish government will replace the de minimis guarantee system with the new National Guarantee Fund and expects it to grant PLN 9 billion in guarantees per annum, which would translate into PLN 16 billion loans from the lenders.

Locked content ZUE signs PLN 457 mln deal with PKP PLK

WSE-listed railway infrastructure builder ZUE signed a gross PLN 457 million (net PLN 371.6 million) deal for works on the 1 railway line with railway infrastructure firm PKP PLK. The deal concerns the part of the line linking Częstochowa with Zawiercie. After the works are completed, passenger trai...

Eurostat: Q1 general government debt inches down

The general government debt of Poland dropped to 54 percent of GDP in Q1, down 0.4 percent q/q, and up by 2.2 percent y/y. It stood at PLN 1,013 billion, Eurostat reported. According to Poland’s Central Statistics Office (GUS) in Q1, the general government had a PLN 7.76 billion surplus.

Sejm approves budgetary spending for 2016

Polish Sejm approved the report on the implementation of the 2016 budget with 236 votes for and 204 against. According to the government’s report, last year’s GDP growth stood at 2.7 percent, while public finance sector deficit amounted to 2.4 percent of the GDP. The investments contracted by 7.9 pe...

Locked content Szczęsny signs with Juventus

Polish goalkeeper Wojciech Szczęsny has joined the Italian champions Juventus for €12.2 million from Premier League side Arsenal. Szczęsny, who made 181 appearances for Arsenal over the eight years, has spent the last two seasons with another Italian team Roma on loan. The Poland international playe...

KNF and NBP need to merge – Central Bank head

Poland’s Central Bank (NBP) President Adam Glapiński said in Sejm, that it is necessary to merge the central bank with the Financial Supervision Authority (KNF) in order to create one macro-prudential supervisory body. “Micro-prudential supervision is of particular importance, as the effective funct...

Locked content Kofola to close its plant in Grodzisk Wielkopolski

Recently delisted from the WSE, soda drinks producer Kofola will close its plant in Grodzisk Wielkopolski by the end of this year, the company announced. “This is a consequence of our investments completed in the recent years. The most important values for us are our consumers and the highest qualit...

GUS: Consumer sentiment drops

In July, the consumer confidence indicator (BWUK) dropped by 0.8 percentage points compared with last month, according to a report by Central Statistical Office (GUS). Now it stands at the level of 4. In June, the indicator was at the highest point in history at 4.8.

Apartment construction soars in H1 – GUS

In June, developers launched construction on 22,364 apartments, a 27.3 percent increase year-on-year and 2.5 percent increase month-on-month, statistics office GUS said. In the same month, 14,373 apartments were delivered (a 22.8 percent y/y and 13 percent m/m increase) and permits for 24,028 apartm...