Pekao Shows Interest in Bank Millennium Takeover Polish second largest bank Pekao will analyze the possibility of purchasing Bank Millennium if the latter is put up officially on sale; Pekao CEO Alicja Kornasiewicz told radio PiN on Tuesday. Portuguese parent of Millennium, BCP, has, according to press information, started preparations to sell its 65.51% stake in its…
Poland’s Inflation Seen Flat – Economy Ministry Poland's consumer inflation should hold flat at 2.8 percent in November and should not exceed 3.0 percent to end-year, Economy Ministry analysts said in a comment to October inflation data. "According to Economy Ministry analyst estimates, November prices will grow at a pace close to that recorded in October," the…
Lower Budgetary Deficit, No Reason for Contentment? Poland's budgetary receipts after 10 months of this year amounted to 82.1 percent of the FY budgetary plan, while the budget deficit at end-October stood at 41.8 billion zlotys, below the government forecast for PLN 51.1 billion zlotys, Parkiet writes. Such results were possible thanks to good revenues from indirect…
Government plans deep job cuts in ministries The government is to submit plans to parliamentary committees next week to cut the number of Poland’s civil servants by up to 10 percent as part of its austerity drive. The plan will mean savings of 1 billion zloty (250,000 million Euros) in the first year and 1.8 billion zloty…
UK ‘intransigent’ over EU budget, says EP president Buzek President of the European Parliament Jerzy Buzek has accused Britain and other nations blocking a conclusion to EU budget negotiations for 2011 of “intransigence” and “throwing the baby out with the bath water” as talks stalled again on Monday. The EU effectively has no budget for next year and a…
Poland to Accept Binding Offers for Pulawy and Police till Nov. 30 Poland prolonged the deadline for submitting binding offers for chemical firms Police and Pulawy yet again, until November 30 from November 16, deputy Treasury Minister Adam Leszkiewicz told PAP. Poland had received requests for extending the deadline from two investors, one of them being a company set up by Pulawy's…
Finance Minister: Poland May Join Euro Zone in 2015 Poland stands chances of adopting the Euro in 2015 if current macroeconomic conditions hold, deputy Finance Minister responsible for euro adoption Ludwik Kotecki told “Polska The Times” daily in an interview. "Although it remains too early to officially announce that this date is the official government target," Kotecki underlined, adding…
Asian Confectionery Giant to Build Five Plants in Poland Japanese food processor Lotte, which recently bought Polish confectionery maker E.Wedel, plans building five plants in Poland worth almost 200 million Euros, Rzeczpospolita daily found out. Lotte wants Poland to be the central point of its European operations. Lotte Group, which is based in Tokyo, has annual sales of about…
Structural Pensions for Farmers Cost Too Much? Poland's agriculture restructuring and modernization agency ARiMR so far spent PLN 5.5 bln on the so-called structural pensions available for farmers willing to retire early and transfer their land to younger relatives or selling it to another farmer, Rzeczpospolita daily writes. The mechanism is too costly taking into account its…
12 products in line for EU protected status Twelve of Poland’s local products are in line to obtain the EU certificate of Protected Geographical Indication (GPI). The end of 2010 may see the registration of 25 regional and traditional products throughout the union. Number 23 on the list are apples from Lacko near Nowy Sacz, Malopolske, which have…