Locked content EU in favor of InvestEU in budget for 2021-2027

The European Parliament voted in favor of establishing the InvestEU Program, which is supposed to support difficult projects to finance, in the next EU budget for 2021-2027. According to the European Commission (EC), the InvestEU Program will bring together under one roof the multitude of EU financi...

Locked content Newag consortium to deliver 10 extra metro vehicles to Sofia

Newag consortium will deliver further ten metro vehicles to Sofia as Metropolitan EAD exercised the right of option, the company said in a press release. The estimated value of work falling on the company under this option is PLN 79.42 million net ( it increased to PLN 239.98 million net under the e...

Locked content PGNiG signs agreement for oil and gas exploration in UAE

PGNiG signed an agreement with Ras Al Khaimah Petroleum Authority and RAK Gas allowing the Polish company to explore for and produce hydrocarbons in the emirate of Ras al Khaimah. Initially, the works will be carried out in three exploration stages, two-years each, and will be followed by a 30-year ...

Locked content PKN Orlen with 2803 petrol stations at end of 2018

At the end of 2018 PKN Orlen Group had a total of 2803 petrol stations, of which 1877 in Poland, the company press-service said. 44 new stations were opened in Poland last year, while 33 were closed. In Germany, PKN Orlen had 582 at the end of 2018; it opened 4 and closed 3 stations….

Locked content Exact Systems: new car sales may grow by 5-10% in 2019

New passenger car sales may increase by about 5-10 percent y/y to nearly 560,000-580.000 this year, Exact Systems estimated. In 2018 the growth rate dropped to 9.4 percent from 17 percent in 2016 and 2017. “The upward trend should continue and, although more balanced, it will still remain high...

Locked content Six banks are ready to accept GetBack arrangement proposals

Six out of seven banks accepted GetBack proposals for settling its liabilities, “Puls Biznesu” reported. The only bank, which has not accepted offered conditions, is Haitong. In total, banks have declared “haircut” of over PLN 60 million, if GetBack will be taken over by an i...

Locked content PwC: IPO on the WSE and NewConnect totaled €81 mln in 2018

The value of initial public offerings (IPO) carried out on the Warsaw Stock Exchange (WSE) and alternative NewConnect market amounted to about €81 million in 2018. There were only 20 IPO during the last year, which is the lowest result since 2003, PwC said in a report “IPO Watch Europe”....

Locked content Gino Rossi didn’t settle PLN 45.9 mln liabilities to CCC

Gino Rossi failed to meet the January 15 deadline to settle partial repayment of receivables due to the footwear group CCC in the amount of PLN 45.9 million. In December PKO BP bank signed an agreement under which CCC took over liabilities of Gino Rossi for PLN 68.5 million. Gino Rossi asked to post...

Locked content In 2018 bankruptcies number grew by 10% – Euler Hermes

As many as 988 companies went bankrupt in Poland in 2018, 10 percent more versus a year ago, Euler Hermes said. An increase in turnover accompanied by more frequent payment delays constitutes a high risk for Polish business, it added. Euler Hermes expects the number of bankruptcies to further increa...