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Poland wants to export more to China: PM

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The Polish head of government was speaking ahead of talks with his Chinese counterpart Li Keqiang on the sidelines of the summit in Dubrovnik, southern Croatia. Morawiecki told a news conference before meeting Li Keqiang that his government was interested in seeing China open its market more widely to Polish pork and poultry exports. He also said that Poland was ... Read More »

Macquarie agrees US$1.3b sale of Poland’s Gdansk port terminal

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A consortium of investors including Poland’s sovereign wealth fund PFR has agreed to buy the country’s largest container terminal in Gdansk from the infrastructure fund of Australia’s Macquarie in a deal worth more than US$1.3 billion, the companies said. Poland’s ruling Law and Justice (PiS) party has said the country was too dependent on foreign investors, who bought into the ... Read More »

Macquarie agrees US$1.3b sale of Poland’s Gdansk port terminal

Container ships wait to be unloaded at the Port of Oakland on Wednesday, March 7, 2018, in Oakland, Calif. The U.S. trade deficit rose in January to the highest level since October 2008, defying President Donald Trump's efforts to bring more balance to America's trade with the rest of the world, the Commerce Department said Wednesday. (AP Photo/Ben Margot)

A consortium of investors including Poland’s sovereign wealth fund PFR has agreed to buy the country’s largest container terminal in Gdansk from the infrastructure fund of Australia’s Macquarie in a deal worth more than US$1.3 billion, the companies said on Tuesday. Poland’s ruling Law and Justice (PiS) party has said the country was too dependent on foreign investors, who bought ... Read More »

Poland’s largest port sold to Singapore-led consortium

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Singapore’s PSA International, the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) managed by IFM Investors, have signed an agreement worth over one billion euros to jointly acquire Deepwater Container Terminal Gdańsk (DCT Gdańsk), Poland’s largest container terminal. The Gdańsk port is the fastest growing container port in Europe and is ranked amongst the 15 largest container ... Read More »

PGNiG receives Poland’s 40th imported LNG cargo

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Poland’s state-owned gas company PGNiG has received its 40th cargo of liquefied natural gas (LNG) at the “President Lech Kaczyński” LNG Terminal in Świnoujście – the country’s only LNG import terminal. “According to our plans, in 2019, PGNiG intends to bring at least 28 LNG deliveries to the terminal in Świnoujście from about 38 possible which equal 100% of the ... Read More »

European shares pull back ahead of ECB meeting

European shares retreated further from five-month highs ahead of a European Central Bank meeting that is expected to slash growth forecasts and hint at a new round of ultra-cheap loans for euro zone banks. Euro-zone banks fell as some profit taking kicked in following gains made in anticipation of the ECB loan scheme, while the export-oriented auto sector continued to ... Read More »

Poland gears up for no-deal Brexit

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The Polish government has adopted legislation preparing the country for a no-deal Brexit, including guaranteeing the rights of British citizens residing in Poland post-Brexit. “A hard Brexit was never as likely as it is today,” Konrad Szymanski, Secretary of State for European affairs in the Polish Foreign Ministry, was quoted as saying on Tuesday by the daily Rzeczpospolita. The law ... Read More »

Burned by Russia, Poland Turns to US for Natural Gas and Energy Security

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Gargantuan tankers pull into this port on the Baltic Sea twice a month, ferrying liquid natural gas from producers in Qatar, Norway and, increasingly, the United States. The fuel will help light and heat millions of Polish homes, while gradually cutting the country’s dependence on coal. This fuel is also an important geopolitical strategy. Poland is determined to end its ... Read More »

Polish government to tax ride-hailing companies: report

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According to the paper, Poland’s Sejm lower house of parliament is to vote on a bill that would impose such duty, starting in January 2020. Currently, two of the most popular ride-hailing companies in Poland, American Uber and Estonian-Chinese Taxify are filing their tax returns in, respectively, the Netherlands and Estonia, the daily said. Experts quoted by the paper added ... Read More »

Markets fret over Polish election winners’ bank tax plan

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Poland’s election result has brought a jittery reaction on the markets; the zloty and bank stocks falling slightly. The victorious Law and Justice party wants to pump 350 billion zlotys (over 80 billion euros) into the economy over six years to boost economic growth – and to tax banks’ assets at a rate of 0.39 percent. The plan unnerved financial ... Read More »

Polish goods imports outdo exports in 2018: stats office

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The resulting trade deficit was EUR 5.1 billion, the statistical office said. Poland’s goods exports increased by 7 percent in euro terms last year from 2017, while imports grew by 9.7 percent, according to the office. Germany remained Poland’s largest partner in the trade of goods in 2018, public broadcaster Polish Radio’s IAR news agency reported. Read More »

China’s Huawei says ready to work with Poland to build trust

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WARSAW: Chinese telecoms firm Huawei is ready to work with the Polish government on additional steps to build trust, Andy Purdy, chief security officer at Huawei Technologies USA, said on Wednesday. Poland’s government is considering excluding Huawei equipment from its future 5G network over concerns first raised in the United States that Huawei technology could be equipped with back doors, ... Read More »

Poland’s central bank keeps rates flat, as expected

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WARSAW: Poland’s central bank on Wednesday kept its benchmark interest rate unchanged at a record low of 1.50 percent, in line with the expectations of analysts polled. The central bank, which ended an easing cycle in March 2015, also kept its lombard rate flat at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent. Read More »

Poland’s gas pipeline ambition is just a pipe dream, industry expert tells RT

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The planned gas pipeline linking Poland to Norway via Denmark is a “senseless waste of money” that could harm the European energy market, the deputy director general for gas issues at the National Energy Security Fund has told RT. The construction of the Baltic Pipe, a joint project of Poland’s state-owned Gaz-System and Danish company Energinet, is aimed at cutting ... Read More »

Poland’s prime minister wants to see more workers return from UK

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Poland’s prime minister says he wants to see more workers return from the UK to help its domestic economy grow. Mateusz Morawiecki told the BBC that “more and more are coming back and I’m pleased about that because there is a low level of unemployment… Give us our people back”. But he said people who want to stay in the ... Read More »

Italy’s Salvini touts ‘European spring’ with Poland’s rightwing government

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Matteo Salvini has pledged a “new European spring” alongside Poland’s rightwing government as Italy’s populist leader attempts to build a Eurosceptic alliance ahead of Brussels elections in May. On a trip to Warsaw to meet Jaroslaw Kaczynski, leader of Poland’s ruling Law and Justice party, Mr Salvini, Italy’s deputy prime minister and head of the country’s hard right League party, ... Read More »

Slowdown expected for Polish economy: report

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While Polish economy grew grew 4.8 percent in 2017, and it is expected to grow over 5 percent this year, economists quoted by the daily forecast that the growth might slow down to 3.8 percent in 2019. The daily added that one of the reasons behind the slowdown is that Poland’s main trade partner, the European Union “is loosing its ... Read More »

Polish border guards target people-smuggling gang

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Investigators believe a Vietnamese-Polish gang illegally transported at least 100 citizens of Vietnam to Western Europe, according to the PAP news agency. People from Vietnam were smuggled through Russia, Belarus, Latvia, Lithuania and Ukraine to Poland, and then on to Germany, France and Belgium, PAP reported. Prosecutors have said that further detentions are possible. Read More »

Mondelez International expands R.&D. hub in Poland

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WROCLAW, POLAND: Mondelez International said it has invested an additional $5 million in its global technical center in Wroclaw to expand research and development of gum and candy innovation. The company opened the facility in 2017 with an initial investment of $17 million to support chocolate and bakery innovation. The site will serve as a R.&D. hub for a range ... Read More »

Poland targets switching on to nuclear power in bid to cut reliance on coal

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Poland has indicated it wants to get more of its energy from nuclear reactors in an effort to draw in more than €88bn of investment to wean the coal-dependent nation off the most polluting fossil fuel. The Energy Ministry wants the country to build 6 to 9 gigawatts of nuclear power generation by 2043 with the first 1- to-1.5 gigawatt ... Read More »