S&P keeps Poland’s rating, outlook unchanged

Rating agency Standard and Poor's has kept Poland’s rating unchanged at BBB+ and the country's outlook at “stable”. The agency said Poland's economy is flexible, open and productive, with a risk of “overstimulation” by “procyclical fiscal policy, an accommodative monetary stance, rising external demand, resurgent EU transfers, and rapid wage

Debt owed by Polish online retailers shoots up

Moody's

Debts owed by businesses selling goods online in Poland have shot up by a third over the last year, according to the country’s National Debt Register. In October 2016, online retailers in Poland owed PLN 172 million. Now that figure has risen to over PLN 231.1 million (USD 64m, EUR 54.5m),

Jakub Skiba – new boss for Poland’s state money-printing firm

Jakub Skiba

Deputy Interior Minister Jakub Skiba has been appointed acting CEO of Poland’s state-owned money printing company. The former chairman of the board at the Polish Security Printing Works (PWPW), Piotr Woyciechowski, was dismissed by the company’s supervisory board earlier this week because of a growing conflict with employees and trade

Polish police raid illegal cigarette factory

Polish police have shut down a large factory producing illegal cigarettes. Officers detained 14 people aged 26 to 63, including 10 foreigners in a raid on the site in the Otwock region, southwest of Warsaw. Some of those in the factory tried to hide in the production hall but were found

Ikea UK chief calls for Brexit transition period and government clarity

Gillian Drakeford’s comments come after another fraught week in which Britain’s divorce talks with the EU failed to advance. The UK chief of Ikea has thrown her weight behind a Brexit transition period as pressure mounts on the government to sign a deal to protect Britain’s businesses from a “cliff edge”

Poland mulls options for claiming WWII reparations from Germany

A potential Polish initiative to seek reparations from Germany for World War II is “being analysed very intensively,” Poland’s conservative leader has said, The News.PL reports. In an interview for the Gazeta Polska weekly, Jarosław Kaczyński said that giving the issue of reparations publicity was in its own right “a great

Poland Aims To Fill Export Gap Using U.S. Coal

coal

Weglokoks said on Wednesday that it plans to resell the imported U.S. coal abroad, mostly to the Czech Republic, Slovakia, Hungary, Germany and Austria, but would also consider sales to customers in Poland in the future, The Oil Price reports. That would be likely to cause friction with Poland's energy ministry,

Warsaw drawing more visitors: study

A total of 1.81 million foreigners are expected to visit Warsaw this year, up from by 1.72 million in 2016, according to a study released on Tuesday. The Polish capital was visited by 1.46 million people from abroad in 2015, The News.PL reports. Warsaw has moved up seven notches from 72nd

JPMorgan to open new base in Warsaw for ‘several thousand’ staff

JPMorgan has reached a deal with Poland to open a global operations centre in Warsaw, Poland’s finance minister said on Friday, Financial Times reports. In an interview with Polish radio, Mateusz Morawiecki said that the centre would employee “several thousand” staff, and deal with risk, data and supply chain management. In recent