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The Warsaw Voice » Business » February 18, 2009
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Business in brief
February 18, 2009   
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Most Poles Want the Euro
More than 50 percent of Poles are in favor of switching to the single European currency, according to a survey by the Public Opinion Research Center (CBOS).

This figure has been steadily on the rise since 2007, but is still far below that of 2002, when 64 percent of respondents said Poland should introduce the euro.
Today most respondents say it is good that Slovakia adopted the euro ahead of Poland because Poland will now be able to benefit from its experience.

Prochem Building for Goodrich
Warsaw Stock Exchange-listed engineering company Prochem will design and build a new factory for Goodrich Aerospace Poland on the site of the Euro-Park Mielec Special Economic Zone in Rzeszów, southern Poland.

The plant will manufacture parts for civilian aircraft. The project, worth a total of zl.130 million, is planned for 2009-2012.

Russian Reserves Shrink
Russia's international reserves shrank by $40.19 billion, or about 9.4 percent, in January, the Bank of Russia said Feb. 6. The country's reserves, which comprise gold, foreign currencies and securities, currently total $386.9 billion and are the third largest in the world after those of China and Japan.

Hungary Needs More Money
The Hungarian government is in talks with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) to increase the credit line for Hungary to 1 billion euros. Hungary has so far borrowed 440 million euros from the EIB, mainly to benefit small and medium-sized enterprises (SMEs).

Ukrainian Debtors Face Power Cuts
Electricity providers in Ukraine have started cutting power supply to some of their biggest debtors, including schools and hospitals.

Ukrainian electricity consumers owe more than $2.28 billion in unpaid bills to the country's power producers. Among those owing the most are central and local government institutions, coal mines, chemical and metallurgical plants, as well as the agricultural sector.

New IKEA Stores in Store
Swedish-Dutch home products retailer IKEA is pumping zl.6 billion into beefing up its Polish presence over the next eight years.

The Port ŁódĽ retail park is being built in ŁódĽ at a cost of 200 million euros and the company will be building a retail and service center in Lublin and extending its Poznań and Gdańsk stores. The Economy Ministry has said that IKEA plans to apply for government support for its investment projects.

Brand Names Lose Power in IT
People purchasing computer hardware and IT services are more likely to opt for unbranded products and products by unknown companies this year, according to the Deloitte consulting company in its report TMT Trends 2009 (technology, media, telecommunications). Brand name was one of the most decisive purchasing decision factors before the onset of the financial crisis, according to Deloitte. "Few companies were daring enough to experiment with unknown and untried suppliers," the report reads.

But the savings shakedown the crisis has unleashed may cut global IT spending. Forrester Research predicts that the global IT market will shrink 3 percent this year.
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