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Polish press review - Companies & Business | 08:42 13.08.2007
poniedziałek |
13/08/2007
OIL & GAS: Top Refiner PKN Orlen Expected to Make More Than PLN 1 bln in Q2 2007 Profits - Top refiner PKN Orlen is expected to make between PLN 821 mln and PLN 1.64 bln in second quarter net profits with an expected turnover of PLN 15 to PLN 17 bln.
PKN Orlen and No. 2 Grupa Lotos are expected to announce their Q2 results Monday. [The Wall Street Journal Polska]
OIL & GAS: Poland Threatened by Natural Gas Shortage if Russian Dispute with Transit Countries Escalates - Poland is threatened by yet another a natural gas crisis. Transit countries the Ukraine and Belarus have announced that they will not agree to transit tariff increases proposed by Russian gas monopolist Gazprom. If an agreement is not reached Gazprom could decide to cut gas supply to those countries thus cutting off 90% of Poland's gas supply which runs directly through the Ukraine and Belarus. [The Wall Street Journal Polska]
SHIPYARD SECTOR: Gdansk Shipyard to Receive Cash Injection in Bid to Solve Dispute with EC - The Gdansk shipyard will receive a cash injection of up to PLN 400 mln in a move which shareholders hope will end the dispute with the EC over production capacity cuts. The EC expects Gdansk shipyard to either cut its production or return the public funding which it has been allocated. The shipyard's bosses hope that the cash injection will lead to the company's privatization which will in turn mean that it will be able to return the public funding in question. [The Wall Street Journal Polska]
STOCK EXCHANGE: Stock Exchange WIG20 Blue-Chip Index Decreases by 3.18% Friday - The Warsaw Stock Exchange blue-chip WIG20 index decreased by 3.18% on Friday as European markets continued to spiral following a crisis on the US subprime market. According to speculation, the US Federal Reserve may decide to decrease interest rates which could halt the continuing European market decreases. [Parkiet]
REAL-ESTATE: Poland Set to Build at Least 1mln New Storage Facilities per Year over Next Five Years - Poland is heading for a boom in storage facility construction. Analysts expect at least 1 mln new storage facilities to be built per year over the next five years. [The Wall Street Journal Polska]
REAL-ESTATE: Developer Dom Development Predicts Success despite Predicted Correction on Real-Estate Market - Developer Dom Development expects apartment prices to decrease in the next couple of years which will lead to lower profit margins for real-estate companies. Despite this correction company bosses believe that its profits will continue to increase as will its sales of lower to mid-range apartments, which will take up the bulk of the company's portfolio. [Parkiet]
ENERGY: Food Prices Could Up Radically on Increased Ecological Fuel Demand - Int. Research Agency - Food prices could increase between 40 and 80% on increased demand for ecological fuel, according to a report by international research agency the International Food Policy Research Institute. According to the report, only an increase in the yield when producing bio-fuels could erase the risk of a crash on international food markets. [The Wall Street Journal Polska]
BANKS: Financial Group Getin Holding Continues Search to Acquire Russian Bank - After unsuccessful attempts in 2007, financial group Getin Holding announced that it would continue to search for a Russian bank with a view to an acquisition. [Parkiet]
FOOD AND BEVERAGE: Drinks Maker Hoop to Invest PLN 100 mln on Development - Warsaw listed drinks maker Hoop plans to spend PLN 100 mln in the next three years on developing its production capacity. [Parkiet]
Agencja Informacyjna Interfax
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