Locked content Qumak seeks investor for its unit

Polish IT and technological company Qumak invited investors to submit bids for the acquisition of shares in its unit Qumak Professional Services (QPS), the company said. Qumak hopes to attract an investor as part of strategic options review for QPS. No specific strategic option has been chosen so fa...

Locked content Railway transports 6.7% more passengers in 2018 – UTK

As many as 310.3 million passengers traveled in Poland by train in 2018, Office of Rail Transport (UTK) reported. This is a 6.7 percent increase versus 2017. The average distance of a trip was 67.8 km. Among 19 rail carriers, PKP Intercity recorded the highest growth of passengers – by 7.7 per...

Locked content Work Service starts sale of its foreign units

WSE-listed HR consultancy firm Work Service started the sale of its foreign units – Work Service Czech, Work Service Slovakia, Work Service SK, and Work Service Outsourcing Slovakia. Blackwood Capital Group will act as adviser for the transactions. The sale of subsidiaries is part of the restr...

Locked content Huawei plans to invest PLN 2 bln in Poland in next 3 years

Huawei plans to invest in Poland PLN 2 billion over the next three years, the company said in a statement. Previously, the Chinese company has already invested PLN 5 billion. Huawei has been present in Poland for 15 years and currently employs nearly 1,000 people. In 2008 Huawei moved from Romania t...

Locked content Fed leaves rates unchanged, promises patient approach

The US Federal Reserve decided to keep the main interest rate in a range between 2.25 percent and 2.5 percent, the Fed said in a statement. The central bank pledged that future moves will be done patiently, taking into account, how economic conditions unfold. The Dow Jones Industrial Average surged ...

Locked content Gobarto approves strategy for 2019-2024

Meat producer Gobarto approved a strategy for 2019-2024 aiming to strengthen its position on the red meat market. The company wants, among others, to invest in a slaughterhouse and new fattening farms. Gobarto also expects to gradually increase the sales volume through current assets and possible ac...

Locked content Poles save the least in EU after Spaniards and Portuguese

While the average salary in Poland is growing, savings in Q3 2018 amounted as little as 0.73 percent of households incomes, Eurostat reported.  As for the third quarter, this is the lowest since 2011. In Europe, only Spaniards and Portuguese have fewer savings: in Q3 they spent by 1 percent more tha...

Locked content Bank Millennium issues bonds for PLN 830 mln

Bank Millennium issued 1,660 W series bonds for a total amount of PLN 830 million. The interest rate on the bonds is variable, based on the WIBOR 6M rate, plus a margin of 2.3 percent per annum. The bond redemption deadline is January 30, 2029. The bank may decide to buy back the bonds on January 31...

Locked content Poland seeks to promptly amend law for electricity prices

Polish Energy Minister Krzysztof Tchórzewski said to seek urgent amendment of the law on capping electricity prices. “I have admitted that we have interfered too deeply with URE authority through solutions within the law and we will make a step back here,” Tchorzewski told RMF Radio. He ...

Locked content GDP growth may slow down to 3.8% in 2019 – Santander BP

GDP growth may slow down to 3.8 percent in 2019 and further to 3.4 percent in 2020 versus expected growth of 5.1 percent in 2018, Vice-President of Santander Bank Polska Maciej Reluga said. He added that Consumer Price Index (CPI) inflation is expected to gradually rise towards Poland’s Centra...