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Tax breaks across Poland planned for investors

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WARSAW: Officials said the new rules would encourage investment in regions with high unemployment, and in mid-sized towns suffering economic decline. Also favoured will be projects boosting the competitiveness and innovation of regional economies, with a knock-on effect on the Polish economy as a whole. Tadeusz Kościński, deputy head of the entrepreneurship and technology ministry, said that parliamentary work on ... Read More »

Japan bank keen to work with Turkey in third countries

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TOKYO: Collaboration between Japanese and Turkish firms in other third countries, especially in Africa could bring success since they complement each other, Japan Bank for International Cooperation (JBIC) senior official said on Tuesday. Especially in Africa region I understand that Turkish companies have very close ties, network and business routes. We expect to see such successful cases in Africa region ... Read More »

Poland’s coal imports from U.S. rose five fold in 2017

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WARSAW: Poland’s coal imports from the United States jumped five-fold last year to 839,000 tonnes due to shortages on the domestic market, data from the state-run ARP agency, which monitors the Polish coal market, showed. Poland, which generates most of its electricity from coal, faced coal shortages last year mostly because mining giant PGG failed to meet its original output ... Read More »

Poland faces isolation over Holocaust bill

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WARSAW: The ruling Law and Justice Party has formed a de-facto alliance with the other Visegrad Four nations of Hungary, the Czech Republic, and Slovakia, in opposing EU refugee quotas, promoting illiberal democracy as an alternative to liberal democratic values, and in maintaining close ties with Russia that are alarming to western EU members. The Polish government’s latest controversial move ... Read More »

New Polish film institute topper talks tax incentives

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WARSAW: The Polish Film Institute, a key component of the successful film funding system established in 2005 via a tax on cinema tickets and TV revenues, is at the heart of non-commercial project development. Its new director, , former director of Syrena Films, says the organization’s approval process needs streamlining, a stronger commitment to new directors and more diverse input on evaluating ... Read More »

Poland Wants to Increase Savings by $6b a Year

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WARSAW: Poland’s government is drafting a voluntary, employer-provided pension program that its author says will boost the country’s savings by 20 billion zloty ($6 billion) a year and strengthen Warsaw’s capital market.Pawel Borys, the architect of the program who’s also the head of the state’s development fund, told Bloomberg the government program may take effect from the start of next ... Read More »

Poland popular among Israeli companies

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WARSAW: Poland Israel Chamber of Commerce, was quoted by Puls Biznesu as saying that Poland is a great place for Israeli firms. Knebel also owns legal firm Knebel & Co, which recently helped ten Israeli companies set up in Poland and apply for research and development grants, the daily reported. Tourism could boost Polish-Israeli trade ties, the Puls Biznesu business ... Read More »

Poland plans vote to restrict kosher meat exports

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WARSAW: The Polish parliament is preparing to vote on a bill that proposes to limit the export of kosher meat, a European Jewish lobby group said. The 48-page bill on animal welfare is neither focused on the ritual slaughter of animals  which was in 2013 was banned in Poland but legalized again due to a high court ruling in 2014  ... Read More »

Poland and EU officials see improvement in ties

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WARSAW:  Poland’s foreign minister and a top European Union official have praised their meeting as helpful in easing an unprecedented dispute over some of Poland’s domestic policies. Minister Jacek Czaputowicz and EU Commissioner Frans Timmermans met Thursday in Brussels to discuss Poland’s shake-up of the judiciary that has led the EU to trigger, for the first time ever, a sanctioning ... Read More »

Poland’s central bank head expects no change in rates this year

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WARSAW: Interest rates in Poland probably won’t change until the end of 2018, central bank Governor Adam Glapinski said on Wednesday, adding that the strength of the zloty has so far not hurt the robustly growing economy. The central bank’ Monetary Policy Council left its benchmark rate at a record low of 1.50 percent on Wednesday, a level still much ... Read More »

Poland’s 2017 budget deficit at PLN 25.4b

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WARSAW: The deficit was 42.7 percent of the PLN 59.3 billion limit set for the year, according to preliminary data released by the finance ministry on Wednesday. Last year’s deficit was PLN 20.8 billion lower than in 2016, when it stood at PLN 46.2 billion, the ministry said. Finance Minister Teresa Czerwińska told reporters that the country’s 2017 budget deficit ... Read More »

Poland’s 2017 GDP growth of 4.6pc fastest since 2011

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WARSAW: Poland’s economy expanded 4.6 percent in 2017, its fastest pace since 2011, preliminary data showed on Tuesday, driven by domestic demand and higher economic activity in the region and the European Union, its main trade partners. The rate of gross domestic product (GDP) growth was slightly above analysts’ forecast of 4.5 percent and substantially faster than the 2.9 percent ... Read More »

Poland’s MPC member says zloty has firming potential

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WARSAW :  Poland’s Monetary Policy Council (MPC) member Jerzy Zyzynski said on Monday that the zloty currency has a potential for further strengthening after it rose to euro recently, but further firming could hurt exports. Zloty has started to rise. It was 4.17 to euro recently, but today in the morning it was 4.13,” he told the wpolsce.pl internet TV. ... Read More »

Poland wants U.S. sanctions to cover nord stream 2

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WARSAW:  Poland wants the United States to impose sanctions on the planned Nord Stream 2 gas pipeline between Russia and Germany, Prime Minister Mateusz Morawiecki said in a newspaper interview published on Monday. U.S. Secretary of State Rex Tillerson said in Warsaw on Saturday that the United States sees Nord Stream 2 as a threat to Europe’s energy security. The ... Read More »

Polish initiatives uhat can benefit your business

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WARSAW: Poland is ushering in new programmes, geared to improving commercial processes and the overall business landscape, while building on existing regulations. In 2017, the sixth largest European Union member state adopted the Strategy For Responsible Development. A central tenet of this fresh vision for economic growth is inclusiveness through ambitious social projects, while fostering stability in public finances.On 26 ... Read More »

Poland adopts long term infrastructure funding plan

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WARSAW: The Council of Ministers adopted a bill on January 16 which sets out a long-term railway maintenance budget for 2019-23. This is designed to enable national rail infrastructure manager PKP PLK to plan maintenance further in advance, reducing a backlog of work built up in previous years when large sums were available for route modernisation but there was insufficient ... Read More »

Currencies make no sense for Polish economy

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WARSAW: Polish economy, as they only bring anxiety and provide room for speculation,” and that Poland will follow other European economies: “if they ban cryptocurrencies, so will Poland,” he said in an interview with Radio RMF FM. The NBP president also added that a digital currency would cause problems including tax avoidance and possible criminal activity. He also commented on ... Read More »

Warsaw stocks a top gainer in 2017

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WARSAW:   Portfolio specialist Dustin Blodgett correctly projected last year that Warsaw’s stock exchange would be one of the best equity market bets in the world in 2017: he now says it should keep rising this year as well. Last year, among MSCI’s country indexes, Poland came top among all emerging markets, rising 52.25 percent in dollar terms, with the zloty’s ... Read More »

Poland 2014-2016 business and Finance industries

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WARSAW: Poland saw stable growth across all but one segment in H1 2014. Assets of regulated investment funds and assets in voluntary pension plans pillar III kept growing quickly and reached PLN 203 billion and PLN 15 billion, respectively. Also managed funds of insurance companies (technical reserves) showed positive development climbing to PLN 152 billion, as of H1 2014. In ... Read More »

Polish refiner net profit seen 4 pct down

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WARSAW:  Poland’s oil refiner PKN Orlen, is expected to report a 4-percent fall in fourth-quarter net profit year on year, as higher oil prices hit its refining margins, a Reuters poll showed on Friday. The state-controlled oil firm is expected to produce fourth-quarter net profit of 1.72 billion zlotys ($505.08 million) based on an average forecast from eight banks and ... Read More »