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Polish food exports set record: president

set record

WARSAW: Polish food exports last year hit a record EUR 25 billion, President Andrzej Duda said on Tuesday. He added that exports of food have risen sixfold since 2004, the year Poland joined the European Union. “The role that agriculture plays in our country cannot be overestimated,” Duda said at the AgroLiga 2016 awards ceremony in Warsaw. The AgroLiga competition ... Read More »

Poland consul asks industries to explore new European markets


WARSAW/LAHORE: Industrialists of Pakistan can discover new European markets in coming years in an effort to strengthen the country’s export revenues, led by textile and supported by other key sectors having competitive edge, suggests Ahmad Hasnain, Honorary Consul of Poland in Punjab. “Exploring new markets in the European Union, which can give significant support to Pakistan’s declining exports, is the ... Read More »

Poland rejects Raiffeisen’s request, insists on unit’s IPO in H1


WARSAW: The Polish financial regulator KNF rejected on Tuesday Raiffeisen Bank International’s request to delay the planned initial public offering (IPO) of its Polish unit and reiterated the IPO has to be conducted by the end of June. Raiffeisen has promised the Polish regulator KNF it will list 15 percent of shares in Raiffeisen Bank Polska, also known as Raiffeisen ... Read More »

Port of Gdansk plans for future growth

Port of Gdansk

WARSAW: The Polish Port of Gdansk recently laid out its largest development proposal in 40 years. Planning new infrastructure at its main terminals, the port aims to accommodate the growing trade volumes passing through the Baltic coast, which ranks among Europe’s fastest growing regions. As one of the largest ports in the Baltic Sea, Poland’s southern Port of Gdansk has ... Read More »

Poland marks Tax Freedom Day


WARSAW: Friday, 9 June, was observed as Tax Freedom Day in Poland, according to experts from the Adam Smith think-tank in Warsaw. It marks the day on which Poles worked enough hours and earned enough income to pay all their taxes for the year. Last year Tax Freedom Day fell on 15 June, and in 1994 it was 1 July. ... Read More »

US LNG cargoes arrive in Poland, Netherlands, first into northern Europe

LNG export

The first two US LNG cargoes to reach northern Europe have now landed in Poland and the Netherlands, marking a historic new chapter in the US LNG export sector that began with the first Lower 48 deliveries to world markets in February last year. The Clean Ocean and Arctic Discoverer, which both departed the Sabine Pass LNG export facility last ... Read More »

First U.S. LNG tankers to Poland and Netherlands to arrive today (June 7)

A man looks as the world's biggest Liquefied Natural Gas (LNG) tanker DUHAIL as she crosses through the Suez Canal April 1, 2008.  REUTERS/Stringer

The first liquefied natural gas tankers from the United States to Poland and the Netherlands are both expected to arrive today (June 7), according to shipping data. Arctic Discoverer, capable of carrying about 2.9 billion cubic feet of natural gas, is headed for the Netherlands, while the Clean Ocean, with a capacity of around 3.2 bcf, is headed for the ... Read More »

Employment, wages on the rise in Poland

employement rises

WARSAW: More than 33 percent of employers in Poland plan on hiring more staff this year while only five percent plan on downsizing, according to a new report for recruiter Randstad. Meanwhile, 24 percent of employers plan to increase wages over the next six months, according to the survey of 1,000 employers conducted from 10 April to 9 May. Grzegorz ... Read More »

Poland stocks higher at close of trade; WIG30 up 1.17%

stocks higher

WARSAW: Poland stocks were higher after the close on Friday, as gains in the Energy, Chemicals and Oil & Gas sectors led shares higher. At the close in Warsaw, the WIG30 gained 1.17%. The best performers of the session on the WIG30 were mBank SA (WA:MBK), which rose 4.59% or 19.50 points to trade at 444.00 at the close. Meanwhile, ... Read More »

Denmark, Poland to launch key gas pipeline survey


COPENHAGEN/WARSAW: Denmark and Poland will launch a key survey next week to determine demand for capacity in a planned gas pipeline linking the two countries, a project which could allow Poland to import up to 10 billion cubic metres (bcm) of gas from Norway. Poland imports most of the 15-16 bcm of gas it consumes annually from Russia and hopes ... Read More »

Polish PMI falls in May

low growth rate

WARSAW: Poland’s Purchasing Managers’ Index (PMI) fell to 52.7 points in May from 54.1 points in April, according to Markit, a provider of financial information services. The reading, however, suggests optimism in industry. A neutral PMI rating of 50 means that businesspeople in the country feel that the economy will not change over the coming month. A higher rating means ... Read More »

Polish economy grew 4% in first quarter: statistical office

employement rises

WARSAW: The Polish economy grew 4.0 percent year on year in the first quarter, the Central Statistical Office said. GDP rose 2.5 percent in the final quarter of last year. In a flash estimate earlier this month, the statistical office said the Polish economy grew 4.0 percent in real terms year on year in the first quarter. According to the ... Read More »

IMF voices concerns about Polish bank tax


WARSAW: The International Monetary Fund (IMF) has reiterated its concern that Poland’s bank asset tax will undermine credit expansion and economic growth. The 0.0366 percent monthly tax was introduced in February to partly finance a new child benefit scheme. It applies to the assets of certain banks exceeding a PLN4bn (USD1bn) threshold. The tax is also paid by credit institutions ... Read More »

Polish minister says US LNG imports could undermine Gazprom’s position


WARSAW: Imports of liquefied natural gas (LNG) from the United States could significantly undermine the dominant position on the European gas market of Russia’s Gazprom , Poland’s minister responsible for oil and gas infrastructure said on Monday. Poland imports most of the gas it consumes from Russia’s state-controlled Gazprom, which supplies a third of the European Union’s gas. As part ... Read More »

Poland to boost economy through 8.5% tax for real estate

Time For Taxes Message Shows Taxation Due

WARSAW: Poland’s finance ministry has prepared a bill to help boost the economy by setting corporate income tax for real estate companies at 8.5 percent. “The proposed law aims to make starting and running a business in the commercial real estate sector… more attractive,” the finance ministry said in a statement. It said the bill would level the playing field ... Read More »

UPS invests in new Package Center In Mysłowice


WARSAW: UPS announced the opening of a new package facility in Mysłowice, Poland. The larger center and increased sorting capacity will allow UPS to help businesses of all sizes in southern Poland reach their customers in the rest of the country, Europe and beyond. “Poland is an important market for UPS and in the first quarter of this year we ... Read More »

Poland stocks higher at close of trade

stocks higher

WARSAW: Poland stocks were higher after the close on Monday, as gains in the Information Technology, Banking and Telecoms sectors led shares higher. At the close in Warsaw, the WIG30 added 0.60%. The best performers of the session on the WIG30 were CD Projekt SA (WA:CDR), which rose 4.09% or 2.71 points to trade at 68.90 at the close. Meanwhile, ... Read More »

Poland’s oil and gas company takes on Russia’s Gazprom


WARSAW: Poland’s state-run oil and gas company PGNiG has called on the European Commission to slap Russia’s Gazprom with a fine and force it to sell assets. “The European Commission should financially punish Gazprom and create competitive conditions on the gas market,” PGNiG said on May 18, presenting details of the feedback it will send to the Commission. PGNiG Chief ... Read More »

Turkey wants more trade with Poland

enhance trade relations

ANKARA: Turkish President Recep Tayyip Erdogan wants more investments in Poland and more trade between the countries, according to the Polish prime minister’s office. Erdogan spoke to Polish Prime Minister Beata Szydło in China on Sunday. “The Turkish president expressed great interest in investment in our country,” the Polish prime minister’s office said in a statement, adding that Erdogan would ... Read More »

Inflation in Poland remains at 2%

Finland inflation highest since Sep-2014

WARSAW: Inflation in Poland remained at 2.0 percent year on year in April, the country’s Central Statistical Office (GUS) said on Friday. The figure was in line with an earlier estimate by GUS and with analysts’ projections. March inflation also stood at 2.0 percent year on year. While food prices as a whole remained at the same level in April, ... Read More »