In Brief: Warsaw ranks 30th in office rental prices; Petrobaltic; Orbis hotel group

With an average price per square meter at euro 368, the capital fell four places in the ranking of 158 cities from 26th in 2002. (www.onet.pl) ... Petrobaltic, a state owned company specializing in oil extraction from the Baltic Sea, announced plans to spend around zł.200 million within the next two to three years on development. The most urgent expense is the purchase of a new oil tanker at a cost of around $15 million. (Puls Biznesu, p. 7) ... Over zł.15 million in profits was generated last year by Hekon, a company owned by Orbis, which groups Accor domestic hotels. After three quarters in 2003 Orbis had a net profit of around zł.60 million in revenues of zł.441 million, without taking into account the results of the domestic Accor group. (Puls Biznesu, p. 11) A.K.