Poland - Factors to Watch Jan 11
Mon Jan 11, 2016 12:42pm IST
Following are news stories, press reports and events to watch that may affect Poland's financial markets on Monday. ALL TIMES GMT (Poland: GMT + 1 hour):DIPLOMACY
Poland's foreign minister on Sunday summoned the German ambassador to a meeting over what his department called "anti-Polish comments by German politicians," the conservative Warsaw government's latest broadside at Berlin.
Poland's justice minister dismissed an EU commissioner's criticism of new media regulations as "silly" in a confrontational letter that marked a low in the new government's relations with the bloc and the commissioner's home Germany.
CENTRAL BANK
Polish central bank net profit likely amounted to around 8 billion zlotys ($2.00 billion) in 2015, Dziennik Gazeta Prawna said without naming its sources.
The 2016 budget assumes the profit at 3.2 billion zlotys. Ninety five percent of the profit is transferred to the state budget.
EMF
Private equity funds Bridgepoint and Mid Europa Partners as well as the businessman Maciej Dyjas, have submitted initial bids to buy Smyk, a children's apparel and toy store chain owned by Empik Media & Fashion (EMF), Puls Biznesu daily said quoting its sources.
Smyk is valued at 0.8-1.0 billion zlotys, Puls Biznesu said.
FORTUM, DUON<DUOP.WA.
Finnish state-controlled utility Fortum said on Friday it has launched a public tender offer worth up to 106 million euro ($115 million) for Polish electricity and gas seller Duon.
DEFICIT
Finance minister Pawel Szalamacha told W Sieci weekly that 2016 budget deficit will not exceed 3 percent of Gross Domestic Product (GDP) thanks to bank and supermarket tax and dividends.
Response:
These factors to watch in Poland are slightly interesting, considering you don't see a list like this all the time. Not only is it informative to Polish citizens, but it might be useful to foreign businesses and countries. I couldn't really say there was a bias, considering there weren't really sides to take on this subject. But there was definitely a purpose to them giving this update. The five topics addressed provide the country with updates on their country and things that are going on that the average person may not see. Therefore, I don't hold a stance on this topic besides thinking that it is unique and unusual.
Citation:
"Poland - Factors to Watch Jan 11." Reuters India. Thompson Reuters, 11 Jan. 2016. Web. 11 Jan. 2016. <http://in.reuters.com/article/poland-factors-idINL8N14U0IE20160111>.
Finnish state-controlled utility Fortum said on Friday it has launched a public tender offer worth up to 106 million euro ($115 million) for Polish electricity and gas seller Duon.
DEFICIT
Finance minister Pawel Szalamacha told W Sieci weekly that 2016 budget deficit will not exceed 3 percent of Gross Domestic Product (GDP) thanks to bank and supermarket tax and dividends.
Response:
These factors to watch in Poland are slightly interesting, considering you don't see a list like this all the time. Not only is it informative to Polish citizens, but it might be useful to foreign businesses and countries. I couldn't really say there was a bias, considering there weren't really sides to take on this subject. But there was definitely a purpose to them giving this update. The five topics addressed provide the country with updates on their country and things that are going on that the average person may not see. Therefore, I don't hold a stance on this topic besides thinking that it is unique and unusual.
Citation:
"Poland - Factors to Watch Jan 11." Reuters India. Thompson Reuters, 11 Jan. 2016. Web. 11 Jan. 2016. <http://in.reuters.com/article/poland-factors-idINL8N14U0IE20160111>.
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