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The Warsaw Voice » Business » January 9, 2008
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January 9, 2008   
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NBP Exchange Rates January 7, 2007
1 EUR = zl. 3.6010
1 USD = zl. 2.4511
1 CHF = zl. 2.1970
1 GBP = zl. 4.8358
100 JPY = zl. 2.2414

Lotos Fuel for Shell, Lukoil
The Gdańsk-based refinery group Lotos, Poland's second-largest fuel producer, will supply Shell Polska with liquid fuels under a zl.380 million deal valid for 12 months until Dec. 31. In 2007, Lotos supplied Shell Polska with zl.660 million worth of fuel. Lotos has also signed a zl.480 million contract with Russia's Lukoil Warsaw company for the sale of diesel fuel and unleaded gasoline throughout the year.

Czechs Plan Gas Power Plant
Czech company CEZ, the largest power producer in the country, plans to build a new gas-fired power plant some 80 kilometers northwest of the country's capital Prague. The project will cost several billion Czech korunas and will begin after CEZ completes surveying work and finds "technological partners" for the venture.

IT Market Grows
Poland's information technology market grew by around 28 percent to over zl.23 billion last year, market research company DiS said. This speedy expansion is due to the country's robust economic growth and European Union funding, said DiS head Andrzej Dyżewski.

Millions from Switzerland
Poland will receive almost 490 million Swiss francs, or 310 million euros, from Switzerland as part of a Swiss-Polish cooperation program, Poland's regional development ministry said. The aim of the program is to provide financial support to Poland to narrow the socioeconomic gap separating it from more developed EU members.

Cadbury Plans Further Investment
Cadbury Schweppes, a major international confectionery and beverages company, plans to invest at least 250 million euros in Central and Eastern Europe in the near future. According to Poland's economy ministry, the company is eyeing Poland where it already owns candy maker Wedel and will shortly complete the construction of a 100-million-euro chewing gum factory. In the fall, Cadbury announced a plan to move some of its production capacity from Britain to Poland as a cost-cutting measure.

Germany Most Competitive in EU: Survey
Germany is the most competitive economy in Europe, according to a Droege & Comp survey quoted by German financial daily Handelsblatt. In the survey, 59 percent of 1,200 business executives from six European countries described Germany's economic competitiveness as either "good" or "very good." The country received higher ratings than any other EU nation or the United States. In global terms, only China did better. About 53 percent of Germany's largest listed companies are controlled by foreign investors, up from 20 percent in 2005, Handelsblatt reported.

Petrobaltic Drills for Oil
Lotos subsidiary Petrobaltic has begun extracting oil from the Baltic Sea. The deposit is located 68 km off the coast of the Hel Peninsula some 2,600 meters under the seabed, the company said.

Ekologika to Recycle Gold, Silver from Copper Waste
Polish company Ekologika plans to invest zl.200 million to recycle waste generated by the KGHM copper producer in western Poland. Ekologika will use its own technology to recover gold and silver in the city of Legnica in partnership with an American fund that will finance the construction of a modern recycling facility. Ekologika also plans to set up a research laboratory.
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