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The Warsaw Voice » Business » May 14, 2008
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Business in brief
May 14, 2008   
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NBP Exchange Rates May 12, 2008

1 EUR = zl. 3.3945
1 USD = zl. 2.1995
1 CHF = zl. 2.0979
1 GBP = zl. 4.3056
100 JPY = zl. 2.1183

SEZs to Grow Bigger

The total area of land designated for special economic zones (SEZ) in Poland will grow from 12,000 to 20,000 hectares under a legal amendment passed by the lower house of parliament April 25. Special economic zones are areas where investors benefit from tax breaks and other forms of preferential treatment. As a result of the decision to expand the zones, some 70,000 new jobs are expected to be created nationwide.

Bechtel Takes on Engineers

U.S. engineering and construction company Bechtel-which has built the Eurotunnel and an airport in Hong Kong-is opening a representative office in Warsaw. The office will employ about 300 engineers. In its 40 branches worldwide, the company has a staff of more than 40,000 in all. The Warsaw office will work on construction projects in the oil, gas, energy as well as mining and metallurgy industries.

Brussels: Rail Without State Aid

The European Commission is seeking to prohibit EU member states from financing their railways from public funds, and it also wants to do away with other forms of assistance such as debt cancellation and unlimited government guarantees, unless officials in Brussels are consulted. The goal is to move toward a more competitive market in the transport of people and goods, the European Commission said.

InPost Nominated for Mail Award

Poland's biggest private postal operator, InPost, which is part of the Integer.pl group, is in the running for an award in the World Mail Awards 2008 international competition in the Growth category. The competition is organized by British company Triangle Management Services Limited. The awards recognize best practice in the global mail industry. Any postal operator, public or private, can enter. In the Growth category, the judges consider postal organizations that have developed innovative products and services and have proved to be capable of generating additional customer activity or encouraging new types of customers.

Bosch Plans IT Center in Warsaw

German industrial group Bosch, which specializes in consumer electronics, power tools and parts for the automotive industry, plans to invest 30 million euros in Poland in the next few years. Bosch wants to open an IT center in Warsaw by 2010 that will hire more than 130 local specialists. The corporation is also building a new factory near Wroc³aw next to an existing plant in which Bosch makes brake systems for cars.

HVB to Move Jobs to Poland

HypoVereinsbank, one of the biggest banks in Germany, plans to cut more than 250 jobs in Germany and move them to Poland as a cost-saving measure. HypoVereinsbank is owned by Italy's UniCredit, which also owns Polish bank Pekao SA.

Developer Buys Military Land in Hel

The Military Property Agency (AMW) has sold nearly 6 hectares of land along with 15 buildings on the Hel Peninsula on the Baltic Sea for a record zl.50.5 million. The land was purchased by VEA Development, a developer from the coastal city of Gdynia that plans to build a hotel and recreation complex with apartments for rental.
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