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The Warsaw Voice » Business » February 20, 2008
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Business in Brief
February 20, 2008   
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NBP Exchange Rates February 18, 2008
1 EUR = zl. 3.5793
1 USD = zl. 2.4461
1 CHF = zl. 2.2210
1 GBP = zl. 4.7705
100 JPY = zl. 2.2604

Longer Hours for Brokers
The Warsaw Stock Exchange is planning to extend trading sessions until 5:30 p.m. However, due to staff shortages, this can happen in early 2009 at the earliest, WSE President Ludwik Sobolewski has said. In order to remedy the situation, the WSE jointly with the Brokerage Chamber plans to open a Stock Exchange Institute that will educate brokers, advisors and financial analysts. In the future, the institute might be transformed into a college.

Beer Cans From Lublin
Ball Packaging Europe wants to invest several tens of millions of zlotys in the construction of a new plant producing cans for cold beverages and beer in Lublin, eastern Poland. The project will be located in the Lublin sub-zone of the Euro-Park Mielec Special Economic Zone. Initially, the factory will produce some 750 million cans a year. It is expected to launch operations in early 2009.

Wizz Air Launches New Flights from Poznań
Hungarian budget airline Wizz Air has launched four new connections from Poznań to Doncaster, Glasgow, Malmö and Oslo, and increased the number of flights to London and Dortmund. This year Wizz Air plans to carry 4 million passengers on all its routes to and from Poland, 40 percent more than in 2007.

Seeking a Job
The majority of unemployed Poles registered at job offices wait for a year or longer to find work. However, this group shrank last year, while the number of people who found a job after three months or less grew. Only 9.2 percent of the unemployed found a job within a month, according to the Central Statistical Office (GUS).

Gazprom to Pay More for Gas Transit
Ukraine plans to increase its transit charges for Gazprom, the Russian monopoly which supplies natural gas to Western Europe, according to Ukraine's 5 Kanal TV channel. Citing a source in the government, the channel reported that the charges will increase fivefold. Up to now, Russia paid $1.70 for pumping 1,000 cubic meters of gas through every 100 kilometers of Ukraine's territory.

Mail Market Opens Up
After many years of controversy, Euro deputies have approved the last stage of opening up the European Union mail service market. Corporations that enjoy a monopoly in deliveries of ordinary letters are to be abolished by Jan. 1, 2013 at the latest.

Air Traffic Growth to Slow
Air transport will grow at a slower rate in the months ahead due to economic uncertainty, according to the International Air Transport Association (IATA), which groups 240 air carriers. Last year passenger traffic increased by 7.4 percent, and cargo traffic by 4.3 percent.

New Ultratech Factory
Rzeszów-based company Ultratech, a producer of spare parts and components for the aviation and automotive industries, plans to open a new, 4,500-sq-m factory in the Podkarpacki Science and Technology Park, near an airport in Jasionka, southeast Poland. It will eventually provide jobs for 250. The company has operated since 2000 and has 45 employees. It manufactures mainly aviation components. Its clients include Goodrich Krosno, WSK PZL Rzeszów and Nicholsons Sealing Technologies.

Peugeot Revs Up in Russia
The largest French car producer will invest 300 million euros to build a factory in Russia. The annual production volume at the factory, to be launched by 2010, is planned at 150,000 cars, a level that would enable Peugeot to take over 10 percent of the local market by 2015. Experts predict that car sales in Russia will grow by 13 percent this year, to 2.6 million cars.

Centralwings Launches New Flights
Polish low-cost airline Centralwings plans to launch three new weekly flights to and from the Netherlands as of March 30. Centralwings planes will fly on the Poznań-Amsterdam route on Mondays, Fridays and Sundays.
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