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Tunnel vision: Peter Vesterbacka and his €15bn plan for Northern Europe

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First, Peter Vesterbacka (of Angry Birds fame) announced he would build the world’s longest tunnel under the Gulf of Finland. Next came the news of a high-speed arctic railway between Finland and Norway. And now he and partner Kustaa Valtonen will be bringing all their energy and big thinking to Poland’s first fully-independent Belt & Road conference looking at the ... Read More »

Belarus partially resumes oil transit towards Poland

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MINSK: Belarus state energy company Belneftekhim said on Sunday it had partially resumed oil transit towards Poland and that its daily Western-bound transit plan for June was 65,000 tonnes. Belarus has so far returned 450,000 tonnes of contaminated oil to Russia, Belneftekhim said in a statement, adding it expected to complete the clean-up of a pipeline between the Mozyr refinery ... 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 on Tuesday. Poland’s ruling Law and Justice (PiS) party has said the country was too dependent on foreign investors, who bought ... Read More »

EU court rules against Brussels on Polish retail tax

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The EU General Court has decided that “the Polish progressive tax on the retail sector was incorrectly classified as state aid by the EU Commission,” the press service of the Court of Justice of the European Union wrote on Twitter. The decision is subject to appeal, Poland’s state news agency PAP reported. Brussels started a probe after voicing concern that ... Read More »

Million-car electric dream spurs smoggy Poland to grasp at Elon Musk

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Maciej Chmielinski weaved his electric compact BMW, quiet as a whisper, through the noisy Warsaw traffic – a rare sight among the growling delivery trucks and gas guzzlers that tainted the spring morning with exhaust fumes. It was the fifth day since Innogy Polska rolled out what it says is Europe’s third-largest electric car-sharing fleet, a programme that Mr Chmielinski ... Read More »

Business flourishes as Angola revitalises historic railroad

In the heart of mineral rich southern Africa, mining companies have several options to get their cargo to port – traditionally they would look eastwards to Dar es Salaam, Beira or Durban on the Indian Ocean, a journey that can take up to three weeks. Now though, some are looking west: through Angola to the Atlantic port of Lobito. A ... Read More »

Google Campus hosts startup competitions

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Located on the eastern edge of the soon-to-be-opened Koneser urban renewal scheme in Praga, Campus Warsaw recently hosted three major startup events. Poland Today was delighted to support all three – but first a quick Q&A with Rafał Plutecki, Head of Campus Warsaw and tech entrepreneur. For every city it is critical to support startups, founded by visionary entrepreneurs – ... 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 »

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

Taiwan's containerized imports increase in February

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 »