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Poland - Factors to Watch May 24
May 24, 2016 / 6:01 AM / a year ago

Poland - Factors to Watch May 24

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Tuesday. ALL TIMES GMT (Poland: GMT + 2 hours):

RETAIL TAX

Poland plans to impose a progressive, two-rate tax on retailers, with a tax-free amount of 17 million zlotys ($4.3 million) in monthly revenue, despite possible opposition from the European Union (EU), the finance ministry said in its latest draft.

SWISS FRANCS

Poland’s outgoing central bank chief Marek Belka said on Monday that any conversion of the Swiss-franc denominated mortgages weighing on Polish banks should be done at the zloty’s current market rate.

RAIFFEISEN POLBANK

Polish unit of Raiffeisen suffered a 10 million zloty ($2.53 million) consolidated net loss in the first quarter, but improved its net profit by 140 percent year-on-year to 144 million zlotys in unconsolidated terms, Rzeczpospolita daily reported.

PKP CARGO

Polish freight carrier PKP Cargo is running an audit after the bankruptcy announced by Czech OKD - the main client of Czech AWT, which PKP Cargo bought last year, daily Dziennik Gazeta Prawna reported.

****Reuters has not verified these stories and does not vouch for their accuracy.****

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