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NEWS

Poland to raise VAT?

In a move to slash Poland’s budget deficit the cabinet has proposed for a period of three years three VAT rates: 6%, 8% and 23%. Furthermore, the Ministry of Finance plans to cut VAT reductions in case of vehicles used for business purposes. The plan is to go before Parliament

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WSE MARKET SUMMARY

• International Week in Brief - 27.07.2010

Last week was very good for investors. The WIG20 index gained 3.61 percent and reached 2,460.96 points. Even bad news which still came from Hungary (where the government could not make a public debt agreement with the IMF) did not stop the strong appreciation of the Polish capital market
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ECONOMY

Good prospects for the Polish steel sector

“In Polish conditions, steel will remain a basic building and structural material. Even the crisis year of 2009 upset the position of the steel sector only for a short while,” write Romuald Talarek and Kamila Grabowska, experts of the Polish Steel Association (HIPH).

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NBP President: Toward economic growth and financial stability

In his first address the Polish Parliament President of the National Bank of Poland (NBP) Marek Belka presented two documents: Report on implementation of monetary policy for 2009 and Report on the activities of the National Bank of Poland in 2009. These two documents examined the conditions of NBP’s monetary policy and statutorily defined central bank functions.

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BUSINESS

VAT cuts to heal Polish budget woes?

According to information released by the Polish News Agency (PAP), Polish Finance Minister Jacek Rostowski is suggesting to get to a safe level of budget deficit in small and safe steps, Polish Market chief economist Jan Sosna writes. Such moves as the proposed VAT increase are able to reduce the deficit by merely 0.5% GDP. Thus, in order to achieve the desired result, an entire package (i.e. 5-10) of similar projects should be introduced.

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Leading Polish, Chinese insurance brokers meet

Representatives of leading Polish insurance companies discussed cooperation opportunities with their Chinese partners at an EXPO 2010 sideline event in Shanghai on July 21. The seminar presenting the potential of the Polish insurance sector was organised by the Office of the Commissioner General of the Polish Section at EXPO 2010 in cooperation with the Polish Insurance Chamber and the Commerce and Investment Promotion Department of the Polish Consulate General in Shanghai.

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SCIENCE&EDUCATION

Science-Technology Park to open in Swierk

The Science-Technology Park is to open in Swierk, near Warsaw, in December 2013. An agreement concerning financing the investment from EU funds was signed in Warsaw. The EU is to finance also the development of technology using radiation. The cost of both investments is estimated at PLN 90 million, with EU funding is to cover PLN 76.5 m.

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What do employers expect of science graduates?

A conference on co-operation between business and science and entrepreneurs’ expectations was held in Warsaw. Andrzej Kurkiewicz, a representative of the Polish Ministry of Science and Higher Education presented the results of a study on expectations the job market has toward universities of technology.

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CULTURE

Warsaw at EXPO 2010

Chopin’s music resounded at EXPO 2010 in Shanghai in Warsaw’s multimedia performance “Chopin 2.0 - new paradigm” marking the 200th anniversary of the composer’s birth. It featured Chopin’s music, dance and vocal performance as well as a presentation of the Polish capital where the composer spent the first half of his life.

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The new face of the Clothmakers’ Hall in Kraków

The new face of the Clothmakers’ Hall in Kraków

The “Nowe Sukiennice/ New Clothmakers’ Hall” modernisation project has been completed in the division of the National Museum in Kraków – the Gallery of 19th Century Polish Art at the Sukiennice. The project is one of the largest art conservation projects in Europe. The official unveiling ceremony attended by the Polish Minister of Culture and National Heritage Bogdan Zdrojewski took place on July 24. The renewed Gallery in the Draper’s Hall will open to the public on September 3.

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PRESS RELEASES

Countdown to Galeria Victoria launch in Walbrzych

A clock was installed on the front wall of the Sport and Recreation Centre in the south-western city of Wałbrzych on July 28. It has started counting down the time to the grand opening of the Galeria Victoria entertainment and retail centre in Wałbrzych, planned on October 16. In addition, the “Jump on a billboard” campaign has been launched as a part of a campaign to promote the first shopping mall in the city. It is aimed at encouraging the inhabitants of Wałbrzych and the surrounding region to take part in a casting session to find the “faces of Galeria Victoria”. The organisers would like to invite all of the inhabitants of the region to participate in the casting session because, as its slogan says, Galeria Victoria is to be “Mine, Yours, Ours”, becoming a significant part of public life and a focal point for the local community.

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Cushman & Wakefield on the Polish retail space market in H1 2010

Over 280 contracts were signed in Poland in the first half of 2010 with the involvement of the Retail Department of the global consultant Cushman & Wakefield.

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EURO 2012

Poland and Ukraine’s rail offer for EURO 2012

A joint scheme developed by Polish and Ukrainian railways in the run-up to the EURO 2012 football championship to be jointly hosted by the two countries was examined at a meeting in Warsaw of the heads of two railway systems, PKP spokesman Michał Wrzosek told wnp.pl.

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BLOG

Municipal lending boom has me bubble-sensitive

Maybe we’re all just a bit sensitive to the appearance of a bubble, what with having been so thoroughly splattered the last time one burst.

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