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Warsaw stocks lower on Tuesday closing, WIG30 lost 1.28%

Warsaw Stock Exchange

WARSAW: Poland stocks were lower after the close on Tuesday, as losses in the Information Technology, Basic Materials and Telecoms sectors led shares lower. At the close in Warsaw, the WIG30 lost 1.28%. The best performers of the session on the WIG30 were Grupa Lotos SA (WA:LTSP), which rose 2.75% or 1.55 points to trade at 57.90 at the close. ... Read More »

Poland market shifting towards higher priced e-bikes

Bike-Europe-Bikes-Poland

WARSAW: The Polish market for bicycles and e-bikes expanded by approximately 10% this year. Obviously the relatively short and mild winter contributed to the popularity of bicycles this year, but there is more. The number of cyclists, especially commuters, has been showing a significant growth in the past years. It is obvious when strolling the street of Polish cities but ... Read More »

Poland Finance Minister believes Poland is not ready for the Euro

Poland Finance Minister believes Poland is not ready for the Euro

WARSAW: Poland’s Minister of Economic Development, Mateusz Morawiecki, stated that Poland is not ready to adopt the Euro but could be ready in 10-20 years when it could be as developed as other countries in the eurozone. Morawiecki said that Poland is not yet on a par with the economic or industrial standards of the countries of the eurozone, either ... Read More »

Paying tax in Poland easier with new system

taxes

WARSAW: A finance ministry spokesman said that people need to fill out a new form, giving information about tax deductibles and children, as well as other information. Five days later, a completed tax form is sent to a nominated email address. The tax payers can then review and adjust the return, if necessary, and send it to the tax office. ... Read More »

Polish government eyes economic growth

growth in exports

WARSAW: Speaking at a joint conference with Deputy Prime Minister and Finance Minister Mateusz Morawiecki, Prime Minister Beata Szydło said GDP growth, low unemployment, and rising wages were proof that government economic programmes were working. Szydło added that both rating companies and the European Commission had indicated that the Polish economy would this year grow more quickly than expected. Meanwhile, ... Read More »

Poland’s PGNiG says capital spending to exceed $8.4b for 2017–2022

PGNiG

WARSAW: Poland’s biggest gas firm PGNiG said its capital spending would exceed 34 billion zlotys ($8.4 billion) over 2017 to 2022, with almost half to be spent on exploration and production. The state-run firm wants to increase its current documented hydrocarbon reserves by about 35 percent and boost hydrocarbon production by about 41 percent, it said in a statement. Poland ... Read More »

Polish trade envoy to visit Ohio for business development

POLAND

WARSAW: A Polish trade delegation is to visit Toledo next week as part of a business-development fact-finding swing through Ohio. Jim Hartung, president of Toledo Sister Cities International board of trustees, is coordinating the Toledo stop of the trip, though not as a sister cities event. He said the purpose of the trip is somewhat open-ended. “There’s certainly exposure within ... Read More »

Poland-India conference on bilateral cooperation

Poland-India conference on bilateral cooperation

NEW DELHI: A one day Conference on India-Poland Bilateral Cooperation in Agriculture & Allied Sectors was held on 8th March 2017, at New Delhi. The conference was co-chaired by Dr. S. K. Pattanayak, Secretary, Department of Agriculture & Famers Welfare and Ms. Ewa Lech, Honble Deputy Minister of Agriculture of the Republic of Poland. Shri Jalaj Srivastava, Additional Secretary, Department ... Read More »

Polish PGNiG 2016 net profit up 10%, higher than estimated

PGNiG

WARSAW: Polish gas company PGNiG said that higher gas sales boosted its 2016 net profit by about 10 percent to 2.35 billion zlotys ($577 million), slightly higher than an earlier estimate. In February, state-run PGNiG estimated 2016 net profit would come in at 2.32 billion zlotys, with the fourth-quarter figure expected to be 690 million zlotys. “In 2016, we concluded ... Read More »

Poland GDP grow 2.8% in 2016, slowest increase in three years

gdp

WARSAW: Poland’s GDP grew 2.8% in 2016, the slowest expansion in three years, missing the government’s assumption for a 3.5% expansion. A sharp fall in investment and erratic performance in industry and export demand proved a drag. Like its regional peers, Poland struggled to get absorption of European Union funds under the new 2014-20 budgetary window up to speed quickly, ... Read More »

Poland furniture production reaches EUR9.84b

Polish Chamber of Commerce of Furniture Manufacturers

WARSAW: Poland became the sixth largest manufacturer and the fourth largest exporter of furniture in the world in terms of value. According to estimates by the Polish Chamber of Commerce of Furniture Manufacturers, the value of furniture production in 2016 reached PLN 42.45 billion (EUR 9.84 bn/USD 10.43 bn). “Poland is the sixth largest producer and the fourth largest exporter ... Read More »

Ukrainian Naftogaz to back Polish PGNiG in court

Ukrainian Naftogaz to join Polish PGNiG to support in case

KIEV: Ukrainian state energy company Naftogaz is seeking to join Polish gas firm PGNiG in a court case challenging the European Union’s decision to give Russia’s Gazprom more access to the Opal gas pipeline in Germany. Naftogaz said it had asked permission from the European Court of Justice (ECJ) to intervene in the case initiated by state-controlled PGNiG at the ... Read More »

Hong Kong bans poultry imports from Poland

Hong Kong bans poultry imports from Poland

WARSAW: Imports of poultry meat and poultry products including eggs, from a district of Poland, has been banned immediately, food safety authorities said. The Centre for Food Safety said this was as a result of notifications from the World Organization for Animal Health about an outbreak of highly pathogenic H5N8 in Inowroclawski and Bialobrzeski Districts in Poland. A spokesman said ... Read More »

Poland increases cucumber imports from Ukraine

Poland increases cucumber imports from Ukraine

KIEV: Ukrainian exporters started sending cucumbers to the EU at the beginning of February and despite high prices, European buyers have shown an interest in purchasing Ukrainian cucumbers. According to Info-Shuvar, Ukrainian hothouse cucumber prices currently cost 52-55 UAH/kg (1.84-1.92 EUR/kg) at the Shuvar Wholesale market, while Polish greenhouse grown cucumbers are being sold for 1.75-1.95 EUR/kg at “Bronisze” in ... Read More »

Poland stocks lower at closing, WIG30 down 1.84%

Poland Stock Lower

WARSAW: Poland stocks lower after the close on Friday, as losses in the Banking, Oil & Gas and Basic Materials sectors led shares lower. At the close in Warsaw, the WIG30 fell 1.84%. The best performers of the session on the WIG30 were CCC SA (WA:CCCP), which rose 3.17% or 6.90 points to trade at 224.90 at the close. Meanwhile, ... Read More »

Poland gets withdrawal subsidy by EU Commission

POLAND

WARSAW: The Polish Bureau for the Development of Agriculture and the Regions said that Poland will gain a withdrawal subsidy for 8000 tons of fruit and vegetables granted by the Commission of the European Union. The subsidy was granted to compensate Poland for the losses caused by the embargo raised by Russia in August 2014. Before that Poland had a ... Read More »

Poland stocks higher at close of trade; WIG30 up 0.29%

stock exchange Warsaw

WARSAW: Poland stocks were higher after the close on Monday, as gains in the Basic Materials, Food and Chemicals sectors led shares higher. At the close in Warsaw, the WIG30 added 0.29%. The best performers of the session on the WIG30 were Synthos SA (WA:SNS), which rose 2.28% or 0.130 points to trade at 5.820 at the close. Meanwhile, Grupa ... Read More »

Polish GDP growth in 2017 may exceed 3.5% year on year: deputy PM

GDP growth

WARSAW: Poland may enjoy over 3.5% year on year GDP growth in 2017, thanks to a clear acceleration in investments, still strong consumption and public spending as well as rising exports, deputy PM, Finance and Development Minister Mateusz Morawiecki told public. “We will attain growth perhaps even exceeding 3.5%,” Morawiecki said for public news channel TVP Info of 2017 prospects. ... Read More »

Poland drops in economic freedom index

POLAND

WARSAW: Poland has dropped to 45th spot in this year’s Index of Economic Freedom, measuring the ease of conducting business worldwide. Last year the country came 39th globally in the ranking issued by The Heritage Foundation and The Wall Street Journal. Among its European peers, Poland dropped to 21st place, down from the previous year’s 18th. According to the Warsaw ... Read More »

Electrovaya reports Q1 2017 revenue of $1.1m

POLAND

WARSAW: Electrovaya reports financial results for Q1 2017. Electrovaya Inc – Inventory is $17.9 million as at December 31, 2016 as compared to $9.8 million for December 31, 2015. Q1 2017 revenue is $1.1 million for quarter ended December 31, 2016, compared to Q1 2016 revenue of $8.2 million. Electrovaya Inc – Net loss for Q1 2017 is $2.4 million ... Read More »