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The Warsaw Voice » Business » November 5, 2008
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Business in brief
November 5, 2008   
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NBP Exchange Rates (November 3, 2008)

1 EUR = zl. 3.8275
1 USD = zl. 3.0823
1 CHF = zl. 2.6485
1 GBP = zl. 4.7297
100 JPY = zl. 3.3287


Nuclear Power Plant in 20 Years?
Under the government's energy strategy, Poland may have its first nuclear power plant by 2030. "These are very distant plans for now," said Adam Szejnfeld, deputy minister of the economy. "This is just an entry in the strategy for the next 20 years. We have two sites for the projected power plants. Their utility has already been tested to an extent."


IT Spending
The IT and telecommunications infrastructure necessary for the organization of the Euro 2012 European soccer championships, to be held in Poland and Ukraine, will cost more than zl.400 million. The telephone and IT giant TP SA estimates the cost of IT systems alone at zl.70 million. Leszek Hołda, director of TP's key customers department, says that during the past five years, TP has invested zl.16.7 billion in infrastructure development. The company is planning to carry out some future projects through private and public partnership.


Zl.5 Billion for Weaponry
The Polish Ministry of Defense will spend zl.5.2 billion on technological modernization of the armed forces, Defense Minister Bogdan Klich has announced. In December, a tender will be launched for aircraft for the government, while the largest expenses next year will be for new Rosomak armored vehicles; payment for the F-16 multi-role jets: Spike sets of anti-aircraft and anti-tank weapons for the army, and helicopters, command systems and investment in the Navy.


Raytheon Teams Up with Radwar
The American rocket corporation Raytheon (sales worth $21.3 billion in 2007) has signed a strategic cooperation contract with one of Poland's largest defense companies, the Radwar SA Scientific-Industrial Center of Professional Electronics in Warsaw. Radwar, which designs and produces radar systems, offers technologies that appeal to the American defense giant. Leszek Pawłowski, the president of Radwar, says the cooperation will be gradually extended from the supply of electronics and components for different weapons to joint sales of arms on foreign markets.


Germany Tops Polish Imports
One-third of all goods and raw materials imported to Poland come from two countries, Germany and Russia. Germany tops the imports chart at 23.4 percent, followed by Russia with 10.1 percent. Further down the list are China at 7.3 percent and Italy at 6.6 percent. After the first seven months of this year, the increase of Polish imports, quoted in euros, was the fastest from Russia (44.1 percent) and South Korea (32.5 percent).


Under Polish and Foreign Flags
The open-sea and inshore transportation fleet of Poland consisted of 136 vessels at the end of last year, including 121 sea vessels and 15 inshore passenger ships. The Polish flag flew over 17 vessels, which was 14 percent of the entire fleet. The average age of a ship used in Poland was 21 years.


Poles in Debt
Almost 43 percent of Polish citizens whom SMG/KRC interviewed in October for a poll commissioned by the Money.pl website said they had credits, loans and installments to pay. Two-thirds said they had problems meeting their repayments. Asked about their savings, 75 percent of respondents said they did not worry about funds they had deposited in banks, while 8 percent were considering withdrawing their savings.
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