Locked content Poland drops by one spot in the latest FIFA ranking

Polish men’s national football team has been placed 7th in the latest FIFA ranking. Compared to last month’s record-high standing, Poland dropped by one spot and was overtaken by Spain Among the European teams, it was ranked 5th. Germany remained in the lead, followed by Brazil and Portu...

Locked content GUS: Men earn PLN 734 more than women in Poland

According to data released by Central Statistical Office GUS, the average man earned PLN 734,50 in October than the average woman, meaning that the difference amounted to 18.5 percent. The average salary in October amounted to PLN 4,346.50, which means that the average man earned 8.3 percent more, w...

Locked content Sunday trade ban to be expanded gradually

The Law and Justice (PiS) government announced new amendments to the draft bill on Sunday trade ban. The new law would come into force in March next year and would cover two Sundays per month, while in 2019 the ban would be expanded to three Sundays per month, and in 2020 it would cover all…

Locked content SKOK Wybrzeże declared bankrupt

The district court in Gdańsk declared SKOK Wybrzeże credit union bankrupt. Financial Supervision Authority KNF suspended its operations back in September and filed for its bankruptcy. At end-July the union had PLN 44.8 million in negative equity, and PLN 128 million in deposits. It had PLN 4.24 mill...

Locked content Gfiffin Premium with PLN 8.3 mln Q3 profit

WSE-listed REIT-like Griffin Premium Real Estate had PLN 8.3 million net profit in Q3, which is 171 percent y/y increase. EBIT stood at PLN 31.9 million, up 44.6 percent y/y, while revenues from rental amounted to PLN 7.9 million compared with PLN 5.8 million a year ago. The company also announced t...

Locked content Enea confirms Q3 results

WSE-listed power utility Enea confirmed its earlier estimate of PLN 214 million Q3 net profit, which is 14.4 percent y/y decrease. EBITDA was down by 5.3 percent to PLN 589 million, while revenues grew by 4.7 percent y/y to PLN 2.8 billion. The company plans to exceed PLN 4 billion CAPEX this year, ...

Locked content Szydło meets with Macron to repair strained relations

PM Beata Szydło met with French President Emmanuel Macron in Paris in an attempt to patch things up after relations between two countries became strained in recent months due to a number of issues including posted workers, concerns over rule of law in Poland, and recently the Pope John Paul II monum...

Locked content Maxima Grupe to launch a tender for 100% Emperia shares

Lithuanian retailer Maxima Grupe has signed an investment agreement with WSE-listed retailer Emperia Holding to launch a tender offer for 100 percent shares in the Polish company. The price was set at no less than PLN 100 apiece. According to the agreement, the management board of Emperia pledged no...

Locked content Ciech plans €100 mln in Germany

WSE-listed chemicals group Ciech will build a €100 million salt plant in Germany, the company said in a market filing. The facility will have 450 kt annual capacity, and Ciech expects the project to be completed within the next 2-3 years. “The Management Board has decided to initiate the preparatory...

Locked content BGK grants PLN 43.17 bln ‘de minimis’ guarantees

Poland’s state-owned lender BGK has granted PLN 43.17 billion in guarantees for loans worth some PLN 76.7 billion issued to SMEs as of end-October under the state program of ‘de minimis’ credit guarantees, the bank said. As many as 130,620 SMEs took loans under the program. Firms c...