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The Warsaw Voice » Business » September 30, 2009
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Business in brief
September 30, 2009   
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NBP Exchange Rates (September 28, 2009)
1 EUR = zl. 4.2268
1 USD = zl. 2.8896
1 CHF = zl. 2.7970
1 GBP = zl. 4.5948
100 JPY = zl. 3.2314


Inflation Falls
Poland's consumer price inflation in August was 3.7 percent, dropping by 0.4 percentage points from July, the government's Central Statistical Office (GUS) reported.

This was the first monthly decrease in inflation this year, the office said.


Euro-Zone Inflation Down
Euro-zone consumer prices fell by 0.2 percent year on year in August, after a drop of 0.7 percent in July and 0.1 percent in June, the European statistics office, Eurostat, reported.

Euro-zone inflation peaked at 4 percent in July last year. In the European Union as a whole, consumer prices went up by 0.6 percent in August year on year, compared with 0.3 percent in July.


Industrial Output Shrinks
Industrial output in the euro zone dropped by 0.3 percent in July from June and by 15.9 percent from July last year, according to Eurostat.

In the European Union as a whole, output was down by 0.2 and 14.7 percent respectively, Eurostat has reported.


Unemployment to Grow: OECD
Despite an economic revival, unemployment in industrialized countries will be growing, according to a report by the Organization for Economic Cooperation and Development (OECD).

The OECD predicts that in the second half of 2010 the number of unemployed in OECD countries will reach 57 million, with the unemployment rate hitting 10 percent. In June this year, the unemployment rate was 8.3 percent, the highest since World War II.


PKO BP to Join Marguerite Fund?
PKO BP, Poland's largest retail bank, is the only bank from Central and Eastern Europe that has been invited to negotiations to join the Marguerite Fund, an equity fund being established by the European Investment Bank (EIB).

Marguerite will invest in the environmental, energy and transport infrastructures of EIB member states.


ProLogis Financial Center in Warsaw
ProLogis, a global provider of logistics services, is setting up its financial center for Central and Eastern Europe in Warsaw.

The U.S. logistics group has 44 million square meter of warehouse space in North America, Europe and Asia. It works with 4,500 manufacturing, trade, transport and distribution companies.


Kimball Electronics Launches Poznań Plant
Kimball Electronics Poland opened a new plant in Sady near Poznań Sept. 14. The 21-million-euro plant has 6,000 sq m of production space. It will manufacture electronics for the automotive industry and glucose meters for diabetics. It will have a work force of around 400.


Data Center for Finance Ministry
Work to build a data processing center for the finance ministry is under way in the central Polish city of Radom. The zl.167 million project will be 85 percent financed from European Union funds.

The center will be a modern facility, the first one of its kind in the government sector, officials said.

The project is scheduled for completion in December next year.


World Bank Loan for Ukraine
The World Bank has transferred to Ukraine the first installment of a $400 million loan to support the local banking sector. Some of the funds will be used as state aid for banks affected by the economic downturn.
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