Locked content Poland to expand KNF authority

Poland’s government wants to expand competencies of the Financial Supervision Authority KNF by, among other things, expanding its board with representatives from PM and banking guarantee fund BFG. The draft bill will be discussed at the upcoming cabinet sitting scheduled for Tuesday. The board will ...

Locked content Coca-Cola buys Costa Coffee for £3.9 bln

Coca-Cola is acquiring British coffee-shop chain Costa Coffee from Whitbread in a £3.9 billion deal. The transaction value amounts to 16.4 times Costa EBITDA for 2018. The deal should be completed in the first half of 2019, Whitbread said in a statement. This combination will ensure new product deve...

Locked content 84% Europeans against seasonal time switch – EC

The European Commission (EC) has published the preliminary results of the public consultation on the arrangements for summertime in Europe, which show that 84 percent of respondents are in favor of eliminating the change in time every six months. “Millions of Europeans have taken advantage of ...

Locked content Vectra applies to buy Multimedia Polska – UOKiK

Vectra filed an application to the Office of Competition and Consumer Protection (UOKiK) regarding the acquisition of control over Multimedia Polska (MMP), and as a consequence, over the subsidiaries of MMP – the Office stated. Vectra filed the application on August 27, the case is in progress...

Locked content Stocznia Gdańsk is interested in government program

The new Stocznia Gdańsk (Gdańsk Shipyard) management will focus in the near future on the finalization of the development strategy and the acquisition of new contracts, said CEO Marcin Stojek. The company is interested in, among others, participation in the government program “Bridges for Regi...

Locked content Dekpol signs contract to expand LPP distribution center

Polish general contractor Dekpol signed an agreement with LPP regarding the construction of a high storage warehouse with a usable area of about 23,000 sqm and an office building with a usable area of around 5,500 sqm as part of the expansion of the distribution center in Pruszcz Gdański, the compan...

Locked content Minimum salary in 2019 will be PLN 2,255 – Rzeczpospolita

On September 4 the government will decide to raise the minimum wage for 2019 to PLN 2,255 — Rzeczpospolita newspaper reported, citing sources. In June, the Council of Ministers accepted the proposal to increase the minimum wage in 2019 to PLN 2,220 and the hourly rate to PLN 14,50. This means a rise...

Locked content Two more people detained in GetBack case

Central Anti-Corruption Bureau (CBA) detained two more people in relation to the GetBack corruption case. GetBack bought shares of another listed company for over PLN 207 million, while their value was estimated at only PLN 28 million, CBA said. Officers also found out that the acquired company had ...

Locked content Strong alcochol consumption grew in 2017

Consumption of vodkas, liqueurs and other spirits grew in Poland to 3.3 liters per person, while in 2015 it was 2.5 liters, Polish Central Statistical Office (GUS) reported. Consumption of wine and mead in the same period fell to 6.1 liters per person from 8.6 liters. In 2017 an average Pole drank 9...

Locked content Consumer Confidence Index drops in August

Consumer Confidence Index fell by 1.83 points to 108.06 in August. The willingness to buy ratio dropped by 0.54 points and amounted to 110.98, according to a market research company IPSOS. In August, the public mood in Poland slightly worsened compared to May, but this level is still high. Poles per...