Locked content SKOK should remain being covered by banking sector guarantees – ...

Poland will keep banking sector guarantees for the troubled credit unions (SKOK), according to Deputy PM Mateusz Morawiecki. “I would not be in favor of such solutions,” Morawiecki said, adding that the unions are “in good shape.” His words come after banking market lobby ZBP said that credit unions...

Locked content OFE reform still at standstill

According to Deputy PM Mateusz Morawiecki, the planned OFE reform is not moving ahead as various ministries can’t reach an agreement regarding its details. “We are conducting talks with Family, Social and Labor Policy Minister Elżbieta Rafalska. There is no change to our plan, but there is also no f...

Locked content Pfleiderer plans €200 mln EBITDA by 2021

WSE-listed building materials producer Pfleiderer plans to reach €1.2 billion in revenues and €200 million in EBITDA by 2021, the company said in its new strategy. According to the presentation, growth will be driven by focusing on higher valued products, improved operational efficiency, and better ...

Locked content Ryanair cancels over 100 Polish flights

Low-cost Irish airline Ryanair has canceled 101 flights to and from Polis airports between September 18-October 28, the company said. The canceled flights include those to and from Warsaw (Modlin airport), Poznań, and Kraków. “We would like to apologize to customers whose journey will be disturbed a...

Locked content San Leon sells 7 Polish concessions

San Leon Energy sold six of its Polish concessions to Horizon Petroleum, the company said in a market filing. The sale concerns oil and gas licenses in Cieszyn, Bielsko Biała, Prusice, Kotlarka and one concession which is under application. In a separate deal, San Leon sold concessions in Góra and N...

Locked content CETA to take effect on September 21

The provisional application of the free trade agreement CETA between EU and Canada will come into force on September 21, the Finance Ministry said. Starting from Thursday, with the exception of a few agricultural goods, the CETA will essentially eliminate the customs duties on all products, either i...

Locked content EP delegation: Polish government to stop logging in Białowieża

According to the MEP delegation, the Polish government declared it will stop logging in the primeval Białowieża forest in compliance to the European Court of Justice verdict. “We understood that the Polish side is ready to adapt to the transitional arrangements and to stop the logging in the forest,...

Locked content Government approves Central Airport plan

The government has approved the plan to build a Central Airport, said PM Beata Szydło. The hub will be located in Stanisławów in the Baranów municipality confirming the previous media reports. According to Szydło, next week, the project proxy, Mikołaj Wild will submit the detailed outline including ...

Locked content KNF: insurers with PLN 3.79 bln H1 profit

Net profit of insurers operating on the Polish market increased to PLN 3.79 billion in H1 compared to PLN 2.25 billion a year earlier. Gross written premiums amounted to PLN 31.57 billion compared to PLN 27.42 billion a year earlier, the Financial Supervision Authority (KNF) reported. Insurance cost...

Locked content Czarnecki sells his stake in LC Corp

The majority shareholder of WSE-listed real estate developer LC Corp, Leszek Czarnecki, together with units controlled by him sold a 51.7 percent stake in the company, the company said in a market filing. After the sale, Czarnecki has no stake in LC Corp. Last week, the consortium set the sale price...