NEWS
www.wbj.pl
was the total net profit for Poland’s banking sector in the first four months of 2012, 14.2% higher than in the corresponding period of last year.
62% of Poles believe the government should block Russian investors’ attempts to control businesses in Poland, a survey found last week.
z∏.1,600 will be the new monthly minimum wage in Poland starting next year, according to a government proposal. Alexis Tipras
Quote of the Week “I propose that every year on June 12, [Poland and Russia] play a friendly match” Advisor to Russian President Vladimir Putin, Michai∏ Fiedotow came to Poland after violent incidents between Polish hooligans and Russian fans on June 12. He suggested Poland and Russia should make this date go down in the history of both countries as a day of sport, not of conflict.
Figures in focus Room at the inn Net occupancy rates of bedrooms in hotels and similar establishments (%), February 2012, selected EU27 countries 80 70 *Highest in EU27 **Lowest in EU27
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Strolling around Muranów If ever there was a microcosm of modern Warsaw, then Muranów is it: ugly on the outside, but something special on the inside. Follow WBJ’s sister publication Warsaw Insider as it takes you through this intriguing area of the city.
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3.6% was Poland’s inflation rate in May. The figure came in lower than analysts had expected.
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from risking the havoc that a “Grexit” would cause to the continent’s economy. If Greece eventually reneges on its deficit-cutting promises, the EU and IMF could refuse to release the rest of the financial aid Athens had been scheduled to receive. That could leave Greece unable to service its debts or pay public employees. Most analysts believe such a scenario would lead to Greece leaving the euro zone, though it is not clear how such a process would be handled. Arguably the worst scenario would see another hung parliament, with the parties again unable to create a governing coalition. This would mean a new, third round of elections in the fall and continuing political and economic uncertainty for Greeks – and the rest of the world.
On WBJ.pl
Source: Eurostat
Company index Acron............................................................8 Kulczyk Holding ..........................................6 Alior Bank..................................................16 Kury∏owicz and Associates ......................15 Allianz Group ............................................15 LC Corp......................................................15 Apple ..........................................................23 Liberty Development ................................15 Areva ..........................................................13 Asseco........................................................15 Marathon Oil..............................................13 Azoty Tarnów ..............................................8 McFit ..........................................................12 BASF ............................................................8 Motorola ....................................................12
DATELINE
June/July JUNE 20 POLAND-US BUSINESS SUMMIT Event:
PiS urges Solidarity Poland to come back Location:
Politicians from main opposition party Law and Justice (PiS) offered an ultimatum to members of the Solidarity Poland party, a splinter group: If by July 27 they don’t join PiS, they will be excluded from PiS election lists. ●
Democracy in the last preelection poll, has vowed to scrap the bailout program, nationalize banks, stop privatizations and freeze any austerity measures demanded by international lenders. He has nevertheless vowed to keep Greece in the euro zone. “Where has it ever been heard that the annihilation of a people and the dissolution of a country is a condition for participation in the euro [zone],” thundered Mr Tsipras at a pre-election rally in response to German Chancellor Angela Merkel’s warnings that Greece must fulfill all its commitments as a condition for remaining in Europe’s currency union. He dismissed her statements as “scaremongering.” Mr Tsipras says he can get more favorable terms for Greece from its international lenders, since Europe’s decision-makers will shy away
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On June 17, Greece was scheduled to hold its second parliamentary election in just over a month. Some fear the result, still unknown when WBJ went to press, could lead to a deepening of the eurozone crisis or even a total collapse of the currency union. A new Greek government will have to decide whether to continue accepting the conditions of the country’s bailout program, and all the unpopular austerity measures that go with it. An inconclusive parliamentary election in May failed to produce an outright winner as voters largely shunned Greece’s two mainstream probailout parties, the conservative New Democracy and the socialist PASOK, for the radical leftist SYRIZA and the nationalist Golden Dawn. Alexis Tsipras, leader of SYRIZA, which was running neck-and-neck with New
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Former Polish President Aleksander KwaÊniewski has been chosen as a special EU envoy to monitor Yulia Tymoshenko’s appeals trial in Ukraine. Ms Tymoshenko is currently serving a seven-year prison sentence for alleged abuse of power. She plans to appeal her sentence on June 26. Mr KwaÊniewski, along with former EU Parliament President Pat Cox, will have full access to Ms Tymoshenko before and during the trial.
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KwaÊniewski to monitor Tymoshenko trial
The Greek elections
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In the second quarter of 2012, revenues from the Euro 2012 soccer tournament will increase Poland’s gross domestic product by 0.2 percentage points, according to estimates by experts from the Institute for Market, Consumption and Business Cycles Research. They also predict that the country’s GDP growth will not rise by more than 3.4% this year, but it will only get that high if eurozone GDP doesn’t fall by more than 0.3%, and the slowdown in Russia and China isn’t too sharp.
Numbers in the News
** Slo vak ia Lith ua nia Por tug al
Euro to add 0.2 pp to GDP
IN THE SPOTLIGHT
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Over 60% of men and 50% of women in Poland are overweight or obese, according to the National Food and Nutrition Institute in Warsaw, which is launching a national awareness program to promote healthy eating habits and physical activity. Low levels of physical activity among Poles heavily contribute to the high percentage of overweight individuals, the organization said.
JUNE 18-24, 2012
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One in two Poles overweight
COURTESY OF WIKIMEDIA COMMONS
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Web:
JULY 14 Event:
This event will look at the business opportunities for Polish-American Economic Cooperation in 2012 and beyond. Special guest speakers include Deputy Prime Minister and Minister of Economy of Poland Waldemar Pawlak and US Acting Secretary of Commerce Rebecca M. Blank. Copernicus Science Center, Warsaw summit2012.pl
Place: Web:
15
NAC VII SUPERFINAŁ
Event:
The championship of the top league of Poland’s American football association, known as NAC the NAC 7th Superfinal, will pit the country’s two best teams from this up-and-coming sport against each other – and in the National Stadium in Warsaw no less. There will be several activities during the day leading up to the final, which is set to be a family friendly affair, with plenty for the kids to do. National Stadium, Warsaw superfinal.pl
RENDEZ-VOUS WITH FRANCE A new way of celebrating July 14. On that day supporters of France, inhabitants of the capital and tourists will come to Saska K´pa. It should be a great opportunity to promote
the French presence in Poland, and to strengthen the image of companies. Saska K´pa ccifp.pl
Place: Web:
BZ WBK ......................................................7 Nuctech ......................................................8 Chevron......................................................13 Nurol Holding ..............................................8 China BlueChemical ..................................8 PCC ..............................................................8 Citi Handlowy ..............................................7 ConocoPhillips ..........................................13 PCC Rokita ..................................................8 Costas Kondylis ........................................15 Peter Nielsen & Partners ..........................8 Deloitte ......................................................17 PGNiG ..........................................................8 DTZ ............................................................16 PKN Orlen................................................6, 8 Echo Investment........................................16 Pol-Aqua ....................................................15 EDF ............................................................13 “Polish Airports” State Enterprise ..........16 Eiffage Budownictwo Mitex ......................16 ExxonMobil ................................................13 Polnord ......................................................15 Fatima Group ..............................................8 PwC..............................................................8 France Telecom ..........................................6 PZU ..............................................................9 General Electric ........................................13 Robyg ........................................................17 Globe Trade Centre ............................15, 16 Ronson Development ................................17 GTC Real Estate Holdings ........................16 Hackett Group ..........................................13 SABIC ..........................................................8 Hitachi........................................................13 Talisman Energy Poland ............................9 Holiday Inn ................................................15 Telekomunikacja Polska ............................6 Hubei Yihua Chemical ................................8 Toshiba ......................................................13 IBM ............................................................13 Jones Lang LaSalle ..................................16 Kardan ......................................................16
TRW............................................................13 Vinci ..........................................................23
Keen Property Partners............................15 Westinghouse ............................................13 Kinoteka Multiplex ......................................9 Yara International........................................8