According to the European Commission, eight banks were previously excluded from syndicated debt sales backing the European Commission’s up to €800 billion (US$950.7 billion) Covid-19 recovery fund. On Friday the EU executive said that they will be allowed to take part in future issues. According to Dialogic, Many of the Banned banks are Europe’s go-to…
After Polish Sejm and Senate passed amendments changing the act on freedom of business activity, the document landed on the desk of the President of Poland. Andrzej Duda has just signed the bill, which introduces the amendments to one of the most important legal documents regulating economic activity in the country. The President’s signature is…
Last week, the National Bank of Poland introduced a new banknote in the value of 500 PLN. The new payment instrument will have the greatest value among the banknotes that are printed for Polish people and institutions. In the wallets of Poles there are already notes in the value of PLN, 20 PLN, 50 PLN,…
January 2017 is the first month of functioning of a new act on innovativeness (the so-called “small act on innovativeness”). Ministries of Development and of Science and Higher Education have joint their efforts to make investment in new technologies in Poland easier and more attractive than ever before. The new legal act introduces some very…
The numbers coming from the Central Statistical Office (GUS) show that the end of 2016 was a very good time for the retail sector in Poland. Positive situation on the labour market made Poles inclined to visit stores and spend noticeably more money there than twelve months ago. The shopping spree is good for the…
The National Bank of Poland (NBP) presented its quarterly report on payment cards in Poland. The number of cards on the Polish market has been steadily growing since 3Q2015. In the third quarter of 2016 there were 36.3 million of bank cards, 27.9 million of which were debit cards. The number of credit cards also…
China is launching direct trading pairs of yuan and seven foreign currencies, including zloty, Bloomberg informs. A statement from Chinese financial market regulator says: “In order to promote bilateral trading and investment between China and Poland, facilitate the use of renminbi and zloty in cross-border trading and investment settlements and meet the needs of economic…
Deloitte took a deeper loot into the state and prospects for the fintech industry in the Central and Eastern Europe. The recently released CEE FinTech Report estimates the market value at 2.2 billion EUR, out of which 40 percent, i.e. 856 million EUR, is the market in Poland. The British company analysed nine national markets:…
The fourth quarter of the year has always been good for retailers. Christmas period is the time for which almost everyone is planning some heavy spending on food and presents. End of the year is also the time for Black Friday, Cyber Monday, and pre-Christmas sales and discounts. 2016 is going to be no different….
LOT Polish Airlines announced it intends to forge a cooperation with its Estonian counterpart, Nordica. Polish national airline will take up 49 percent of shares in Nordica’s subsidiary – Regional Jet. Both companies count on fruitful cooperation and synergy befits. In recent months, Poland’s flag carrier has been rapidly expanding its flight network. This year,…
