Locked content PKO BP with PLN 1.5 bln leasing deal with EIF

WSE-listed lender PKO BP signed a contract with the European Investment Fund (EIF) to provide leases and loans worth PLN 1.5 billion to 10k Polish SMEs with EI direct guarantees. The offer will be valid till October-2020 and the maximum amount of a loan or a lease is PLN 1.5 million. “Thanks to the ...

Locked content OFEs average 3-year return rate at 18.82%

Private pension funds OFE achieved 18.82 percent weighted average rate of return in the three-year period ending September 28, 2018, financial market regulator KNF said. The best performer was OFE PZU Złota Jesień with 20.97 percent return rate, closely followed by MetLife OFE  (20.91 percent), and ...

Locked content PSG to invest PLN 7.5 bln on gas network

Polska Spółka Gazownictwa, a subsidiary of state-controlled, WSE-listed PGNiG will invest up to PLN 7.5 billion by 2022 to expand its gas network and reach 300 new municipalities, the company said in a market filing. PM Mateusz Morawiecki announced on Thursday that gasification will be carried out i...

Locked content Poland plans to create state investment fund to finance takeovers

The Polish government wants to establish the Capital Investment Fund (FIK) that will be financed with a share of 30 percent of dividends from state firms and that will finance the Treasury’s investments in acquiring private enterprises according to a draft bill. “In relation to the need of a stable ...

Locked content Pension funds won’t sell Polenergia stock in tender offer

A number of pension funds (Generali OFE, NN OFE, and Aviva OFE) announced that they will not be selling their shares in WSE-listed power utility Polenergia in a tender offer by Dominika Kulczyk and Mansa Investments. The three entities control 19.9 percent of the company’s stake. The funds deem the ...

Locked content Tauron and Orlen to build powerplant in Czechia

WSE-listed power utility Tauron and fuel giant Orlen signed a letter of intent to build a power and heating plant in Czech Neratovice on Orlen’s premises. The unit would provide the refiner’s subsidiary Spolana with technological steam. “State-run companies should cooperate with each other and suppo...

Locked content Wizz Air will reduce permitted hand luggage

Wizz Air decided to change the rules of hand baggage free of charge. From November 1, each passenger can bring a free hand baggage (40x30x20 cm), while passengers who have purchased Wizz Priority can also take a troller bag (55x40x23 cm) in the cabin. Currently, every Wizz Air passenger can have one...

Locked content Creepy Jar: “Green Hell” costs paid off in six weeks

“Green Hell” production and marketing costs (about PLN 3.5 million) were paid off in six weeks from the premiere of the game in the early access version – said Creepy Jar, producer and publisher of the title. So far, there have been sold over 93,000 copies of this game. By the spri...

Locked content Fitch keeps PGNiG ratings at BBB- with stable outlook

Fitch Ratings maintained longterm ratings for PGNiG at the BBB- level with a stable outlook, the agency said. “Confirmation of the rating reflects the strong, integrated position of PGNiG on the Polish gas market, low leverage, and solid liquidity. The rating is supported by the regulated gas ...

Locked content Ciech agrees with IKS Solino on construction of brine pipeline

Ciech and its subsidiary – Ciech Soda Polska and Inowrocławskie Kopalnie Soli “Solino”  (IKS Solino) – signed an agreement regarding the construction of a brine pipeline by IKS Solino. The pipeline will connect maneuvering tank belonging to IKS Solino with production plant of...