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Alicja Ptak

EU's top judge warns Poland over overhaul of judiciary

09 Jan 2020

WARSAW Europe's top judge issued a veiled warning to Poland on Thursday over its overhaul of the judiciary, saying there is no place in the European Union for countries that do not have independent courts.

'Gold rush': Race is on for health data in East Europe's frontier market

09 Jan 2020

BUDAPEST/WARSAW Eastern Europe is a new frontier for private medical care, and insurers and tech startups are racing to steal a march on their rivals by harnessing the region's health data.

Poland's main opposition picks moderate veteran for presidential vote

14 Dec 2019

WARSAW Poland's main opposition group, the centre-right Civic Platform (PO), picked a party veteran known for building consensus on Saturday as its contender to unseat nationalist ally Andrzej Duda in a presidential election next year.

Polish oil refiner PKN surprises with plan to take over utility Energa

05 Dec 2019

WARSAW Poland's biggest oil refiner, state-run PKN Orlen, unexpectedly announced on Thursday that it plans to take over state utility Energa to strengthen its position in the electricity market.

Poland sees bigger state role in economy, more court reforms

19 Nov 2019

WARSAW Poland's prime minister set out plans on Tuesday to strengthen the state's role in the economy and deepen an overhaul of the justice system that has put Warsaw on a collision course with its European Union partners.

State-run banks should look at mBank: Polish finance minister

18 Oct 2019

WARSAW Poland's Finance Minister Jerzy Kwiecinski said on Friday it would be good if state-run financial institutions could look into a possible takeover of mBank , the country's fourth largest lender by assets.

CEE MARKETS-Polish stocks gain as court ruling on FX loans removes uncertainty

04 Oct 2019

By Marton Dunai and Alicja Ptak BUDAPEST/WARSAW, Oct 4 Polish stocks led mild regional gains on Friday after a court ruling seen less unfavourable to the country's financial sector than expected pulled prices higher, with some bank stocks jumping as much as 5 percent. The European Union's top court on Thursday ruled in favour of Polish consumers who took out mortgages in Swiss Francs, allowing them to ask courts to convert loans into the local zloty currency in a blow for lenders. Changing the terms of the loans, which had become prohibitively expensive after the Swiss franc jumped in value, means Polish banks will have to refund some customers, but removal of uncertainty about the outcome was greeted with relief by investors. The WIG banks index was up 1.2 percent in early Friday trading. Millennium was up nearly 5 percent, while other affected bank stocks posted more moderate gains. The overall stock market added 1.1 percent, outpacing gains elsewhere in the region, which stayed below 1 percent. The ruling was also expected to have a mildly positive effect on the zloty, although as the initial relief wears off the lack of clarity in the medium-term may come back to haunt Polish markets once again. "We believe that, after the ruling, the (Polish) currency may gain a little bit in a short-term," Santander said in a note to clients. "However, the reality is that uncertainty... has not disappeared, which in the medium-term may exert a slightly negative pressure on the PLN." External factors such as Brexit will creep back to steer the exchange rate as well, the bank added. In Hungary, the Budapest Stock Exchange suspended trading in the shares of Opus Global, a group controlled by Prime Minister Viktor Orban's close ally Lorinc Meszaros, for the day, prompting market speculation about impending news. Opus shares have added about 60% in the last two years - while the overall market is up less than 6% - as the company has grown into a wide-ranging conglomerate, with its first-half revenues up fivefold since 2018. The stock has fallen far from its all-time high set in 2018, however, as it is yet to undergo restructuring and turn a profit. The forint, which has recovered from record lows set last week, was stable in morning trading but investors do not count on significant gains against the euro, CIB Bank said in a note. "Forex markets are guided by a combination of unchanged (dovish) monetary policy outlook and a hectic international environment," CIB said. After Poland's September inflation came in below expectations this week, Hungary and the Czech Republic also publish their own figures next week, providing some guidance for regional monetary moves. CEE SNAPSHOT AT MARKETS 1020 CET CURRENCI ES Latest Previous Daily Change bid close change in 2019 Czech 25.7130 25.7010 -0.05% -0.02% crown Hungary 332.3000 332.3700 +0.02% -3.37% forint Polish 4.3265 4.3298 +0.08% -0.85% zloty Romanian 4.7490 4.7488 -0.00% -2.00% leu Croatian 7.4200 7.4160 -0.05% -0.13% kuna Serbian 117.3100 117.4700 +0.14% +0.84% dinar Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2019 Prague 1008.47 1005.480 +0.30% +2.22% 0 Budapest 39758.33 39547.59 +0.53% +1.58% Warsaw 2122.33 2099.30 +1.10% -6.78% Bucharest 9446.11 9429.07 +0.18% +27.93% Ljubljana 861.19 857.59 +0.42% +7.08% Zagreb 1925.13 1926.05 -0.05% +10.08% Belgrade <.BELEX15 743.52 744.19 -0.09% -2.39% > Sofia 564.52 565.90 -0.24% -5.04% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=RR 1.2750 -0.0980 +203bps -10bps > 5-year <CZ5YT=RR 1.0860 -0.0240 +191bps -2bps > 10-year <CZ10YT=R 1.3140 -0.0110 +191bps +0bps R> Poland 2-year <PL2YT=RR 1.4900 -0.0080 +225bps -1bps > 5-year <PL5YT=RR 1.6600 -0.0260 +248bps -2bps > 10-year <PL10YT=R 1.8980 -0.0350 +249bps -3bps R> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep < 2.21 2.13 1.99 2.16 PRIBOR=> Hungary < 0.26 0.31 0.34 0.21 BUBOR=> Poland < 1.73 1.70 1.67 1.72 WIBOR=> Note: FRA are for ask prices quotes ************************************************** ************ (Reporting by Marton Dunai; Editing by Alex Richardson)

Poland's ruling PiS vows to boost public healthcare ahead of vote

28 Sep 2019

WARSAW, Sept 28 Poland's ruling nationalists promised on Saturday to raise funding of the health service, another hefty spending pledge in an election campaign where they have sought to position themselves as champions of the welfare state.

Pride parades in Poland prove flashpoint ahead of general election

26 Sep 2019

LUBLIN Alicja Sienkiewicz was attending a gay pride event in the Polish city of Bialystok in July when a group of young men shouting expletives surrounded her wheelchair and hurled firecrackers. | Video

Pride parades in Poland prove flashpoint ahead of general election

26 Sep 2019

LUBLIN, Sept 26 Alicja Sienkiewicz was attending a gay pride event in the Polish city of Bialystok in July when a group of young men shouting expletives surrounded her wheelchair and hurled firecrackers.

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