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Poland signs F-35 contract worth $4.6 billion

Poland has signed a $4.6 billion contract to purchase 32 Lockheed Martin F-35As, with deliveries to start in 2024. Signed on 31 January at the Polish air force academy in Deblin, the deal also includes a training package and logistics support services. To be produced in the F-35’s Block 4 configuration, the Polish aircraft will be equipped with electronic warfare ... Read More »

Polish border guards detain two Ukrainians for amber smuggling

Poland’s border guards have detained two Ukrainian citizens who attempted to smuggle a large batch of amber into Poland. More than 103 kilograms of amber worth about EUR 50,000 and 4,000 packs of cigarettes worth EUR 13,000 have been seized, the Ukrainian-language service of Germany’s Deutsche Welle (DW) wrote on December 14, referring to the Polish Border Guard. Perpetrators, who ... Read More »

Poland’s unemployment rate falls to 5.0pc in October

WARSAW: Poland’s registered unemployment rate fell to 5.0pc in October from 5.1pc in September, statistics office data showed on Wednesday, slightly below analysts’ expectations of 5.1pc. The statistics office also said that the number of registered unemployed was 840,500 last month. Separately, the statistics office said the unemployment rate as measured by the Labour Force Survey (BAEL) fell to 3.1pc ... Read More »

Chicken ‘billionaire’ Poland is Europe’s poultry king

In what looks like a Niagara Falls of yellow feathers, thousands of chicks cascade down a conveyor belt in central Poland. A day old, they only have 41 left to live. Their fate is sealed: once grown, they will wind up on a plate. Their lives may be brief, but their living conditions could be better, according to animal rights ... Read More »

Boom on Poland’s real estate market continues

Statistics and conclusions from numerous analyses of Polish commercial property cannot be wrong. Clearly, over the last decade, we have witnessed a huge transformation of the sector in Poland, creating a mature market which offers competitive investment products, both in all standard sectors (office, warehouse, retail and hotel) and alternative investments such as student residential or apartments for rent. The ... Read More »

Huge wage rises signal new phase in central Europe’s transformation

Thirty years after the fall of the Berlin Wall, the countries of central Europe are eager to move to a new phase in their remarkable transformation from communist basket cases to vibrant market economies fully integrated in to European business supply chains. Poland’s conservative prime minister last week said he wanted to “close the chapter” of cheap labour and low ... Read More »

Poland says EU has averted an energy tragedy by limiting Russian gas supplies to Europe

The decision by the top court in the EU to curb Russian energy firm Gazprom’s use of the Opal gas pipeline, which links Nord Stream to Germany, has saved Poland from a ‘tragic’ gas shortage, its state oil and gas company admits. According to Petr Wozniak, head of Poland’s state oil and gas company PGNIG, Gazprom’s continued operation of the ... Read More »

How Poland’s ‘golden age’ of economic growth is going unreported

During the current global economic slow-down, Poland stands out as a European growth champion. With an uninterrupted pace of high growth averaging 4.2% per annum between 1992-2019, Poland is steadily catching up with Western Europe and has become the seventh largest economy in the EU with a total GDP of €524 billion. Considering its population of 38 million, scarred by ... Read More »

Has Poland’s Government Become a Threat to Business?

An accusation had been made against Przemyslaw Krych, and, at about 9 on the morning of Dec. 19, 2017, he was arrested at his home in Warsaw. The financier was sure there had been a misunderstanding, and, as armed agents of the Polish government took him away in handcuffs, he confidently told his wife he’d be back later in the ... Read More »

Zelensky promises businessmen in Poland to protect investment

“I am personally ready to protect all investments. We have already prepared more than 70 draft laws to reform the law enforcement and judicial systems. There are many bills to improve the investment climate, and for businesses,” he said during his visit to Poland, as reported by the president’s press service on September 1. Ukrainian and Polish investors in various ... Read More »

Crude steel production in July down by 3.6% y/y

In July crude steel production in Poland amounted to 780,000 tons, which means a decrease of 3.6 percent y/y, according to the data from the World Steel Association. Between January and July, production amounted to 5.69 million tons, down by 5.6 percent yoy. In 2018, production amounted to 10.17 million tons, which is 1.6 percent less in comparison to the ... Read More »

Europe’s brain drain is getting worse — so some countries are scrapping income tax for young people

Central and Eastern European (CEE) countries are proposing radical tax incentives for young people, as part of a drive to stem the flow of skilled workers to Western EU states. A so-called ‘brain drain’ is dimming the economic prospects of some CEE countries, with young people disproportionately making the most of the bloc’s freedom of movement in search of better ... Read More »

Brain drain claimed 1.7 million youths. So this country is scrapping its income tax

Being young and Polish has never been this lucrative. A new law that comes into effect in Poland this week will scrap income tax for roughly 2 million young workers. It’s an attempt by the government to stop the dramatic brain drain Poland has experienced since it joined the European Union 15 years ago. Prime Minister Mateusz Morawiecki said the ... Read More »

Poland’s ruling right-wing PiS party tops in EU polls

Poland’s governing right-wing Law and Justice party (PiS) won European elections, near-complete official results showed on Monday, with its leader Jaroslaw Kaczynski urging a wider victory in the autumn general election. The PiS took 45.56 per cent of the vote to win 27 of Poland’s 51 seats in the European Parliament compared with 38.30 per cent and 22 seats for ... Read More »

How one Polish company is proving disability is no handicap when it comes to working

This edition of Business Planet goes to Katowice, Poland for a very special company, a social enterprise where helping people is as important as the bottom line. Today, 10% of European companies are social enterprises. They employ 11 million people and they are particularly innovative. Majka Lipiak is on a mission, to give work to those who were destined to ... Read More »

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

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

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

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

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

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 »