Here are news stories, press reports and events to watch which may affect Poland’s financial markets on Wednesday. ALL TIMES GMT (Poland: GMT + 1 hour):
Poland will release industrial output and PPI data for November at 1300 GMT. Analysts polled by Reuters expect that industrial output rose by 1.1 percent year-on-year, while producer prices fell by 1.1 percent.
Eastern Europe-focused Austrian lender Raiffeisen Bank International (RBI) is looking to sell Raiffeisen Polbank, Poland’s eighth largest lender by assets, three market sources told Reuters on Tuesday.
Polish banks may report over 1 billion zlotys ($296.38 million) in losses in January, as according to new regulations they will be required to pay their state guarantee fund fee in one instalment, Rzeczpospolita daily reported.
The banking industry will be adversely affected by the new regulations at the start of the year, as the fees have been raised by almost 100 percent, chief executive of Poland’s largest lender PKO BP told Dziennik Gazeta Prawna daily.
Polish state investment vehicle PIR is likely to need an injection of cash in 2015, as the total value of projects it is ivolved in will reach 10 billion zlotys, Poland’s treasury minister was quoted as saying by state agency PAP.
Poland’s national air carrier LOT will receive 127 million zlotys ($37.64 million) in state support as part of a restructuring plan approved by the European Commission, daily Puls Biznesu reported.
The plan had originally assumed that LOT would receive 381 million zlotys in August 2013, but was later amended due to the company’s improved performance, the daily added.
Rzeczpospolita daily quoted LOT’s chief executive as saying that the carrier is likely to realise profit above the 70 million zlotys planned for this year.
In 2016, over 50 percent of Polish clothes retailer LPP’s income will come from abroad, the company’s deputy chief executive was quoted as saying by daily Parkiet.
In 2015, LPP will open 10 new shops in Germany, with 30 shops opening in the country in the next three years.
Fiat’s factory in Tychy, south-western Poland, has increased its output and will manufacture more than 300,000 cars this year, daily Puls Biznesu reported.
Ukraine’s President Petro Poroshenko begins a two-day state visit to Poland today, where he will meet with Poland’s President Bronislaw Komorowski and Prime Minister Ewa Kopacz, and give a speech to the parliament.
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