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The Warsaw Voice » Business » July 30, 2008
Business
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Business in brief
July 30, 2008   
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NBP Exchange Rates (July 28, 2008)
1 EUR = zl. 3.2080
1 USD = zl. 2.0400
1 CHF = zl. 1.9707
1 GBP = zl. 4.0526
100 JPY = zl. 1.8937


World Economy to Grow 4.1%: IMF
The International Monetary Fund has released a new forecast for the world economy, expecting it to grow 4.1 percent this year and 3.9 percent next year, down from 5 percent in 2007.

The United States economy is expected to grow 1.3 percent this year, and the 13 European Union nations using the euro are projected to expand by 1.9 percent on average.

Global economic growth may be affected by factors such as inflation driven by rising prices of food and fuels, the IMF said.


Orlen Invests
Poland's biggest fuel corporation PKN Orlen officially launched the construction of a purified terephthalic acid (PTA) plant in Włocławek, central Poland, July 23. The project will cost zl.3.73 billion and will be completed in the second half of 2010. Every year the plant will produce 600,000 metric tons of PTA, a chemical that is used for the production of plastics. The PTA process is licensed by Mitsubishi Chemical, the world's third biggest PTA manufacturer and leading producer of the chemical in Asia.


Less Coal From Russia
Russia plans to cut its coal deliveries to Poland by 1-2 million metric tons this year, to some 6 million tons, according to media reports. This may force Polish industrial plants to look for supplementary purchases in South Africa and Colombia.


Czech Inflation Lower
Year-on-year inflation in the Czech Republic fell to 6.7 percent in June, the Czech statistical office reported. In May year-on-year inflation was 6.8 percent. The country's consumer price index inched up by 0.2 percent in June over May.


Doctors to Fly Eurocopters
Polish doctors from the Air Ambulance Service will soon be able to fly new helicopters produced by the French-German consortium Eurocopter under a zl.500-million deal made by the Polish health ministry. Under the deal, Eurocopter will supply 23 EC 135 helicopters and a flight simulator for training pilots.


Air Liquide Invests in Poland
French group Air Liquide is investing 100 million euros in two industrial gas production projects in Poland as part of its 10-billion-euro investment program for 2007-2010. The first involves building and operating two gas extraction plants for Zakłady Azotowe Puławy commencing early 2010. The second involves building a similar installation near Gdańsk with a production capacity of 200 metric tons of liquid oxygen and nitrogen a day.


Hungary Gears Up for Euro
The Hungarian forint may join the European Exchange Rate Mechanism (ERM II) next year provided the government's convergence program goes according to plan, according to finance minister János Veres. ERM II is a preliminary to joining the eurozone. It requires that a country's exchange rate not fluctuate more than 15 percent against the euro for two years.


Europeans Less Hostile to Nuclear Power
EU residents are less hostile to nuclear power plants than they were three years ago but are still against having nuclear waste stored in their countries and believe they are insufficiently informed, according to a Eurobarometer poll. Some 44 percent of 27,000 respondents said they approved of nuclear power, up 7 percent from 2005.
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