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The Warsaw Voice » Business » November 19, 2008
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Business in brief
November 19, 2008   
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NBP Exchange Rates (November 17, 2008)
1 EUR = zl. 3.7277
1 USD = zl. 2.9426
1 CHF = zl. 2.4691
1 GBP = zl. 4.3928
100 JPY = zl. 3.0409


Earnings Up for Polish-Based Banks
In the first three quarters of this year, banks operating in Poland earned zl.12.6 billion, or zl.2 billion more than during the same period last year, reports Rzeczpospolita daily.

Over 12 months, the banks' assets grew by zl.170.6 billion to zl.947.4 billion. At the end of September, Polish citizens had zl.304.1 billion on deposit in banks. Bank loans were worth over zl.319 billion.


German Tourists Top Statistics
In the first eight months of 2008, 7.1 million foreign tourists from 41 countries spent a night in Poland, according to the Central Statistical Office. Germany topped the statistics, accounting for 2.7 million visitors. British citizens came in second, followed by the Italians and the French.


New DHL Terminals
DHL Express, the global leader in express courier consignments, has opened a 4,700-square-meter terminal in Niepołomice near Cracow. The terminal, which will handle up to 13,000 parcels per day, has 31 docks for trucks (seven with conveyor belts) and 78 gates for couriers. The terminal employs 190 people and was built for 6.12 million euros.

DHL Express also has a new terminal in Solec Kujawski in central Poland, which cost 4.5 million euros. With 3,600 sq m of capacity, the terminal has 18 truck docks (five with conveyor belts) and 56 courier gates. It employs 200 people.


Aid for Hungarian Banks
Andras Simor, the governor of the central bank of Hungary, has announced that out of the 20 billion euros that international institutions have loaned Hungary, more than 2.3 billion euros will be used to aid Hungarian banks. Half the amount will go directly to the banks, while the rest is earmarked to increase interbank market liquidity in the form of a guarantee fund.


Layoffs at Wielton
Wielton, Poland's largest producer of semi-trailers and trailers, is planning to lay off up to 200 people as part of an employment restructuring. The company expects that the planned downsizing and department reorganization will cut salary costs by at least zl.500,000 per month. Job contracts will be terminated through Jan. 31. At the end of September, the company employed over 850 people.


Slower Sales of Mortgages
As a result of the declining market, sales of mortgage loans in 2008 will be lower than the previously anticipated zl.68 billion, the Polish Bank Association predicts. The slump in sales is due to growing margins and higher down payments which banks are requiring of potential buyers. According to the Polish Financial Supervision Authority, the owner's contribution should total 25-30 percent of the value of the property.


Fewer Airlines in Poland
Seven airlines have disappeared from Polish airports this year, while two new ones have replaced them. The Civil Aviation Office reports that according to the winter timetable, among airlines that have given up regular flights to and from Poland are Avitrans, Air Europa, Sky Europe, Meridiana and Sterling. The new carriers are Dniproavia in Ukraine, which will fly between Warsaw and Dnipropetrovsk, and SUN-AIR of Scandinavia, a Danish airline that is planning to operate the Gdańsk-Billund route.

Regular flights to and from Poland will be operated by 36 airlines this winter, while another 18 will fly as marketing carriers. The widest selections of flights are provided by Ryanair (67) and Wizzair (59).
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