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Poland
Vienna Insurance Group: Net Income to Fall
The biggest Austrian insurance group is anticipated to post lower profits.
November 27, 2013
Poland: Szczurek Calls for Radical Tax Reform
Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.
November 26, 2013
CESEE: Austrian Banks Face New Challenges
For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013
Poland: IMF Corrects Growth Forecast Upward
Growth forecasts for next year were increased by 0.3 percent by IMF.
November 25, 2013
Szczurek: EU Funds to Create Growth
Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.
November 23, 2013
Szczurek Stresses Importance of Balanced Fiscal Policy
Poland´s new Minister of Finance Mateusz Szczurek underlines the importance of a fiscal stability.
November 21, 2013
Poland: Reshufflement at Government
A major reshufflement is currently under way at the Polish government.
November 20, 2013
PKO to Take over Nordea Bank Polska
The biggest Polish Bank PKO Bank Polski will submit an offer to the minority shareholder of Nordea Bank Polska
November 19, 2013
Nowotny: Must Avoid Bubble in CESEE
In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.
November 19, 2013
Poland: Economy Accelerates Visibly
In the third quarter of 2013, Poland´s GDP growth reached 1.9%. In the EU, Poland´s growth rate is only beaten by the Baltic countries.
November 15, 2013
Poland: PZU Surpasses Results in 3Q
With results increasing by almost 65 percent on a quarterly basis, Poland’s biggest insurer has exceeded all expectations.
November 15, 2013
Poland: Improvements at Banking Sector Not Expected
Next year’s results in the banking sector are not expected to exceed the ones in 2013.
November 15, 2013
Poland: Corporate Bankruptcies Decreasing
The number of commercial bankruptcies is declining, according to data by Coface.
November 13, 2013
CESEE: Economic Turnaround Ahead
Ruchir Sharma, fund manager at Morgan Stanley stresses that Central, Eastern and Southeastern Europe is more attractive than the BRICS countries.
November 12, 2013
Poland: Favorable Economic Outlook
According to the European Bank for Reconstruction and Development (EBRD), the Polish economy will see an upswing next year.
November 12, 2013
UniCredit: Net Income Driven By CESEE
Italian UniCredit Group´s quarterly net income was down by 40%. Losses in Italy could be more than offset by the results in Poland and Bank Austria´s contributions.
November 11, 2013
Poland: Solid Banking Sector
According to the European Bank for Reconstruction and Development, the perceived regulation pressure is too high for Poland´s banking sector.
November 9, 2013
BNP Shows Interest in Taking Over Polish BGZ
In the race for the Polish lender BGZ, the biggest French bank BNP Paribas enters the stage.
November 8, 2013
Unequal Retail Real Estate Investment Activity in CESEE
While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.
November 8, 2013
Poland´s National Bank Holds Interest Rate Flat
In order to boost economic growth, the Polish Monetary Policy Council has left the interest rate unchanged.
November 6, 2013
Banking Sector Reduces Lending
Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.
November 6, 2013
CESEE Region: Booming Exports Prevent Recession
The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.
November 5, 2013
Slovak Banking Industry Records Growing Net Income
In the first nine months of 2013, Slovakia´s banking sector recorded a total net profit of € 449m.
November 1, 2013
Visegrad Countries Encourage Western Balkans to Join EU
Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.
October 31, 2013
Prosperity Index: Poland Moves Upwards
Above all, Poland´s strengths are seen in the fields of security and safety.
October 31, 2013
Immofinanz to Build Shopping Center in Poland
With Warbud SA, the general contractor, listed real estate company Immofinanz will establish a shopping center for around € 95m in Poland.
October 30, 2013
CESEE: Poland is Most Business-Friendly
According to the latest “Doing Business” report published by the World Bank, Poland is the most business-friendly country in the CESEE region.
October 29, 2013
BGZ: Santander Aims to Expand into Poland
In order to complete its local affiliate Bank Zachodni WBK, Spanish Santander intends to take over the Polish lender BGZ.
October 29, 2013
CESEE: „The Growth Model Was not Sustainable“
Franz Seiringer, economist at EBRD, underlines that the CESEE countries are on the right track. The region is working on a new growth model, he told “Wirtschaftsblatt”.
October 29, 2013
Poland: T-Bonds not to Affect Budget Deficit
According to GUS, next year’s budget deficit will not be impaired by the transfer of treasury bonds and other assets.
October 28, 2013
Record Profit at Zachodni Bank
The third-largest Polish lender has published the results for the third quarter. Net results are well above the estimates.
October 25, 2013
Poland: Key Rate to Remain Low
In order to support the positive growth trend, the Polish National Bank (NBP) will keep the key rate flat next year. Poland´s economic growth is mainly based on foreign demand, though.
October 24, 2013
“We Need to Pull Down the Iron Curtain in Our Heads“
In an interview with Austrian daily “WirtschaftsBlatt“ Johannes Seiringer, Director of the Austrian office of the European Bank for Reconstruction and Development (EBRD) calls for incentives for enterprises to continue investing in CEE.
October 24, 2013
Polish Holding to Take over Romanian International Bank
According to Mediafax newswire, Polish Getin Holding will take over Romanian International Bank (RIB).
October 24, 2013
Poland Intends to Keep Banking Sector Small
The Polish financial regulator intends to keep the frequency of bank shops low and avoid risks and bailout by this.
October 23, 2013
Public Debt: CESEE Countries Below EU Average
At the end of the first half of 2013, the EU public debt quota reached 86.8% of GDP. Western Europe´s public debt level is significantly higher than in Eastern Europe.
October 23, 2013
Poland: Economy Below Potential
In the first half of 2013, investments dropped significantly. Consumption was up moderately. In total, Poland´s economic growth accelerates gradually.
October 22, 2013
Amazon to Open Distribution Centers in the Czech Republic
The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.
October 22, 2013
Poland: IMF Upgrades Growth Forecasts
According to the IMF, Poland´s GDP growth will reach 2.4%. In the prior forecast, the IMF anticipated a 2.2% growth rate.
October 21, 2013
Polish Real Estate: Prices on the Fall
In the last twelve months, the price of Polish apartments has fallen moderately.
October 20, 2013
IMF Warns of Financial Instability in CESEE
Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.
October 18, 2013
„Czech Republic Does Not Fully Use Its Potential“
Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.
October 17, 2013
Austria: RBI Expects Stabilization
Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.
October 17, 2013
Poland: Inflation Remains Stable
Inflation net of food and energy prices amounted to 1.3% y/y, representing a 0.1 pp decrease on the figure recorded in the two previous months.
October 17, 2013
CESEE Region Suffers from Migration
The countries of Central, Eastern and Southeastern Europe are confronted with a highly unfavorable demographic trend. The brain-drain is expected to persist.
October 17, 2013
Poland to Improve Railway Infrastructure
According to CIR, the Polish government’s press center, the government plans on spending PLN 979m on railway infrastructure in 2014 and a further amount of PLN 692m in 2015.
October 16, 2013
Ukrainian Gas Pipeline Key Issue for EU Commission
A gas pipeline plan in the Ukraine is among the EU Commission’s key infrastructure projects.
October 16, 2013
Poland to Keep VAT Rates The Same Until 2015
In order to cut debts, the Polish government decided not to lower the level of VAT.
October 15, 2013
Poland: 70 Percent against Introduction of Euro
According to a recent survey carried out by Public Opinion Research Center (CBOS) as many as 70 percent reject the idea of introducing the Euro to Poland.
October 15, 2013
Polish Airline LOT Staves off State Aid
Because of the effective restructuring measures, the airline carrier has fended off the need for a capital injection by the Polish state, accordint to Deputy Treasury Minister Rafal Baniak.
October 15, 2013
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