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The Warsaw Voice » Business » September 17, 2008
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Business in brief
September 17, 2008   
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Unemployment Falls
Unemployment in Poland inched down from 9.4 percent in July to 9.3 percent in August, according to preliminary data by the labor ministry.

The total number of those registered as unemployed stood at 1,405,100 at the end of August, falling by 1.3 percent from the end of July.

Since the start of the year, the number of jobless in Poland has decreased by 341,500, or 19.6 percent.


S&P Upholds Ratings
The Standard & Poor's Ratings Services agency has upheld Poland's long- and short-term foreign-currency ratings at A/A-2. The country's local-currency ratings are also stable at A/A-1.

According to the agency, Poland's long-term foreign-currency outlook remains positive and its local-currency outlook is stable.

The ratings reflect Poland's growing competitive position and its solid foundations for further economic growth, said Kai Stukenbrock, an analyst with Standard & Poor's.


LOT Revamping Website
LOT Polish Airlines is working to upgrade its website and will also launch a special site to enable access via cell phones and palmtops, making it easier for passengers to buy tickets, check flight schedules and access special offers. After the lot.pl and mobile.lot.com websites are upgraded, passengers will be able to not only book and buy plane tickets, but also rent cars and book hotel accommodation.


New Defense Plant Opens
A new defense factory, Przemysłowe Centrum Optyki, opened in Warsaw Sept. 4 to make military optical equipment such as thermographic cameras and night-vision devices. This is the first defense factory built in Poland from scratch since 1989.

The plant took 14 months to build and cost more than zl.60 million. The project was financed using funds from the sale of land left behind by another industrial plant that operated on the same site in the past.

The new factory will work in a three-shift system to carry out military orders worth almost zl.200 million this year alone, said Ryszard Kardasz, chairman of Przemysłowe Centrum Optyki.


Lenovo Factory to Open by Year's End
Chinese computer manufacturer Lenovo is completing work on a zl.100 million factory at Legnickie Pole near Wrocław in southwestern Poland within the Legnica Special Economic Zone. The facility will be launched in the fourth quarter of this year, the company said.

Lenovo has promised to create 1,276 jobs in the plant to make 1.7 million computers per year.


More Cod for Poland?
The European Commission in Brussels has proposed a new higher quota for EU fishermen to catch cod in the eastern Baltic. The quota would go up by 15 percent to 44,580 metric tons next year. Of this, Polish fishermen would be able to catch around 12,000 tons.

At the same time, the European Commission has proposed a reduction in the western Baltic quota by 15 percent, to 16,337 tons next year. Polish fishermen rarely catch cod in the western Baltic.


NBP Exchange Rates (September 15, 2008)
1 EUR = zl. 3.3595
1 USD = zl. 2.3793
1 CHF = zl. 2.0992
1 GBP = zl. 4.2168
100 JPY = zl. 2.2140
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