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BUSINESS

Poland and Russia hope for more business

In recent years Poland and Russia may have suffered a dip in bilateral relations, but even in this period business contacts went ahead, and even recorded growth. As Polish Market’s Rafał Kiepuszewski hears from Nikolai Zakhmatov, Russian Commercial Counsellor in Poland, the prospects for the development of business relations now look brighter than even following the visit to Moscow by Polish Prime Minister Donald Tusk. >>

Real estate market going strong

“Our aim is to eliminate or to curb a number of regulations. We believe that this time our proposals to remove barriers standing in the way of development will see the light of day” Jarosław Szanajca, President of the Polish House Builders Federation tells POLISH MARKET. >>

Polish Lotos fuels group eyes foreign expansion and targets innovation

Lotos President Paweł Olechnowicz has told POLISH MARKET ONLINE that his company is looking at broad expansion plans on foreign markets. He added that this involvement is related to Poland’s energy security programme and joint commercial undertakings with companies in EU countries in response to what he described as aggressive market moves by Russian companies. >>

More than meets the eye

ZBIGNIEW MAGDZIARZ, First Secretary, Head of the Trade and Investment Promotion Section, Embassy of the Republic of Poland to Israel, takes a look at existing two-way trade and investment as well as opportunities for the future. >>

First Polish Cluster Competence Centre.

The year 2008 promises to be a year of clustering in Poland. Even a superficial lookat the Polish market confirms that a dynamic process of clusters coming into existence has started. A cluster is essentially a group of competitors working together. So far few entrepreneurs have realized what clusters were all about. What's more, in a study carried out by CONNECTIONPOINT.pl entrepreneurs who were either entering a cluster or already operate as part of it have a problem pointing out the aims of cluster presence. >>

2007 Laurels of Skill and Competence

At a ceremony on January 19, 2008 in the Upper Silesian Cultural Centre in Katowice, the annual awards of ‘Laurels of Skill and Competence’ were presented to outstanding managers, companies and institutions as well as prominent personalities in science, education, culture and politics. >>

Polish Business Club Awards 2007

The Polish Business Club Association, a co-founder of the European Business Club, is Poland’s oldest independent organisation bringing together private entrepreneurs. Henryka Kopacz talks to Ryszard Konwerski, President of the Polish Business Club Association. >>

What do employers wish for?

Last year’s high growth rate estimated at 7% surprised many analysts. Statistics revealed that wages kept growing, causing inflationary pressures to mount. Many companies encountered shortages of qualified manpower. According to experts, labour market problems could slow down GDP growth in the next few years. The Warsaw Stock Exchange recorded a significant decline, mainly due to the situation on the European and US markets. Here is what the leaders of Polish employers’ organizations believe the new Civic Platform-Polish Peasant Party coalition government should do to maximize Poland’s economic growth. >>

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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PODCAST

• Why do Israeli property developers pick Poland?

• New Polish president’s economic priorities

• Storm over homoerotic art show at Warsaw’s National Museum

• Poland’s new president Bronislaw Komorowski: a pragmatic, pro-business, euroenthusiast

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

COMING UP

18th International Defence Industry Exhibition >>

Biotechnological Cracow >>

WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

MARKET INFO

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