State Treasury Minister, Piotr Czyїewski, has confirmed earlier rumours in the press concerning plans for a capital merger between the insurance giant PZU and the largest retail bank PKO BP, both controlled by the Treasury.
The Monetary Policy Council (MPC) has cut banks' mandatory reserve level from 4.5% to 3.5%.
The reduction of mandatory reserves had been expected to come before the end of October. The new level is effective from 1 October.
Poland saw foreign direct investment (FDI) of US$ 2.53 bn in the first half of 2003 against US$ 3.2 bn a year earlier, with the full-year figure expected to sag below expectations and nearer to US$ 5 bn due to slow global investment trends, accord
Poland has jumped up the world league of countries that are attractive to foreign direct investment (FDI), according to AT Kearney's FDI Confidence Index(r) 2003.
According to a report from global consulting company A.T. Kearney on the FDI (foreign direct investment) confidence index, the most attractive countries for investments are China, USA, Mexico and Poland.
HSBC Bank Polska, the local subsidiary of the world's second-largest banking company, faces a number of tough hurdles in the country's competitive, almost saturated, banking market as it sets out to launch corporate-geared services next year.
Polish Prime Minister Leszek Miller voiced his full support for a business lobby initiative to reduce the income tax on individuals running their own businesses to the 19% that will be effective for corporations in 2004.
The Warsaw Banking Institute (WIB) and the CBM Indicator brokerage undertook a survey of bank use among small- and medium-sized enterprises (SMEs) earlier this year.
Polish companies' aggregate investment levels continued to decline in the first six months of 2003, dropping 2.2% to PLN 21.8 bn, but the official Central Statistical Office (GUS) underscored that the situation is improving and investment could ri
Poland's rate-setting Monetary Policy Council (RPP) opted on Wednesday (27 August) to keep official borrowing costs on hold for a second month due to what it said were signs of economic recovery gathering pace and the prospect of fiscal loosening.
