Locked content Marvipol to spin off its car business

WSE-listed real estate company Marvipol plans to complete its spin off of M Automotive Holding and float it on the Warsaw Stock Exchange by the end of the first half of 2015, according to the ISBnews agency. The company’s division is aiming at getting a reliable valuation of its automotive business,...

FinMin: Public sector deficit at 3.3% of GDP in 2014

Public sector deficit amounted to 3.3 percent of GDP in 2014, Finance Minister Mateusz Szczurek told Bloomberg Businessweek Polska. In 2015 the deficit will drop below 3 percent which will allow Poland to exit the Excessive Deficit Procedure (EDP) the following year and return to the VAT rate that w...

Locked content PKP Intercity changes CEO

Marcin Celejewski had stepped down as the CEO of PKP Intercity. The general meeting has accepted the resignation and appointed Jacek Leonkiewicz as his successor. Celejewski has resigned at his own request. He will remain a member of the board responsible for contacts with the most important custome...

Locked content Over 3,000 employees willing to join PKP Cargo redundancy program

PKP Cargo has received 3,300 applications from its employees to resign under the voluntary redundancy program. As the number of applications has exceeded expectations, the company has decided to increase the sum earmarked for the program from PLN 87 million to PLN 301 million. The final amount will ...

Locked content Polish firms to obtain PLN 3.5 bln for R&D

Nearly PLN 3.5 billion of EU funds will be transferred by the National Centre for Research and Development (NCRD) to Polish firms for R&D purposes. The demand is much bigger, though. The value of the 21 proposals filed to the NCRD amounts to PLN 17 billion. “The industry expects to receive PLN 9...

Locked content Azoty mulls taking over Pogoń Szczecin

Grupa Azoty S.A. is considering acquiring Pogoń Szczecin football team, Krzysztof Jałosiński, the CEO of Grupa Azoty told local radio broadcaster Radio Szczecin. “We see it as a business opportunity. Our activities have nothing to do with CSR, this is just a way of promoting our brand,” Jałosiński s...

Locked content Orlen: Oil prices at ca. $50 for the next 1-2 years

Oil prices below $50 per barrel are not possible to maintain in the long-term horizon, but in the next 1-2 years they will remain around that level, according to Adam Czyżewski, chief economist of PKN Orlen. “Technological revolution in the extraction sector, which resulted in a crude oil boom, caus...

Locked content OT to trade bonds on Catalyst

Logistics company OT Logistics is starting the trading of 100,000 series D bonds on January 19 in the alternative trading system Catalyst, the company announced. Total value of the issued bonds amounts to PLN 100 million. The money will be used to refinance A series bonds worth PLN 60 million and to...

Locked content Ghelamco to trade bonds on Catalyst

Commercial developer Ghelamco Invest is starting trading of 500,000 series PPA bonds on January 16 in the alternative trading system Catalyst. Bond’s maturity date was set at June 19, 2019. The value of the issued bonds amounts to PLN 50 million. “Ghelamco’s debut on Catalyst is the next step toward...