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EU subsidies reach PLN 115 bln

The value of EU subsidy applications submitted by July 30 amounted to PLN 229.4 billion, according to data released by the Ministry of Development. Till end-July, 20,132 contracts for the EU co-financed projects amounted to PLN 115 billion in EU subsidies.

CCC revenue soar by 48.4% y/y in July, online sales nearly double

WSE-listed footwear retailer had a PLN 308 million in revenue in July, a 48.4 percent y/y increase. Year-to-date, the company’s sales grew by 34.5 percent to PLN 2.15 billion. CCC recorded PLN 43 million in revenue through its online sales channel, marking a 99.5 percent increase y/y, and reaching P...
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Eurostat: Unemployment unchanged in June

The seasonally adjusted unemployment rate in Poland stood at 5 percent in June, the same as the month before, the EU statistical office Eurostat said. This is a drop from June 2016, when it stood at 6.3 percent. The pan-European statistics agency, which uses roughly the same criteria as Poland’s Cen...
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Żywiec H1 profit inches up

WSE-listed beer producer Żywiec, subsidiary of Heineken, had a PLN 134.8million net profit in H1, up by 3.7 percent y/y. Revenues amounted to PLN 1.13 billion, down by 10.4 percent y/y. In the first six months of the year, Żywiec sold 5.6 million hectoliters of beer, compared to 5.8 million last yea...
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President vetoes controversial judiciary reforms

In a surprise move, President Andrzej Duda announced that he will veto controversial laws on the Supreme Court and the National Council of Judiciary (KRS). “As president I don’t feel this law would strengthen a sense of justice. These laws must be amended,” he said.
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.

Sejm passes controversial judiciary system overhaul

Amidst controversy, the Sejm has passed the vote on judiciary reforms, with 235 votes in favor, 192 against and 23 abstentions. The new law will allow for the immediate forced retirement of all Supreme Court judges and their president, whose term is set in the constitution. It will also create three...