Locked content Tusk to Pence: let’s not pretend that everything is as it used t...

US Vice President Mike Pence, met with the European Council President Donald Tusk in Brussels and pledged the US commitment to the EU. “Whatever our differences, our two continents share the same heritage, the same values and above all the same purpose, to promote peace and prosperity through freedo...

Locked content Poland launches new chopper tender

Polish ministry of defense has launched a new tender for 16 military helicopters. The ministry invited Airbus, Lockheed Martin and Leonardo-Finmeccanica to submit their bids. The first tender, won by Airbus’ Caracal machines was canceled in October. “A committee tasked with the negotiations in...

Locked content Famur with better than expected profit

WSE-listed mining machinery producer Famur posted PLN 26.2 million in net profit for Q4 2016, up from PLN 6.4 million recorder in Q4 2015, the firm’s financial report showed. The analysts predicted a PLN 24.5 million profit. For the full year, the profits stood at PLN 93.8 million, representin...

Locked content US-insurer with 5% stake in Pekao Bank

US insurance company Massachusetts Mutual Life has increased its stake in Bank Pekao to 5.35 percent making it the third biggest shareholder of the bank. The market filing did not specify how many stocks and when, the Massachusetts Mutual Life acquired, as listed companies in Poland are required to ...

Locked content Energa plans €250 million bond issue in Q1

WSE-listed power utility Energa plans to sell a minimum €250 million bond issue this quarter, the company said in a market filing. The bonds will mature in 10-12 years and will be allocated to “general corporate needs,” the company said. The papers will be floated on the Luxembourg Stock Exchange...

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...