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The Warsaw Voice » Business » December 16, 2009
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Business in brief
December 16, 2009   
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Agri-food Companies for Sale
The Treasury Ministry plans to privatize 34 state-run companies in the agricultural/foodstuffs sector. Four livestock breeding businesses and eight wholesalers will be the first to go under the hammer, according to deputy treasury minister Jan Bury.

BSH to Build Warehouse Near £ód¼
German household appliance manufacturer BSH, which owns brands such as Bosch and Siemens, says it will spend zl.25 million to build a new warehouse near £ód¼ in central Poland. Completion is planned for 2011. BSH has three factories in this country, exporting 80 percent of their output.

More Jobless in Eurozone
Unemployment in the eurozone rose to 9.8 percent in October, the highest figure since December 1998, according to the European statistics office, Eurostat. In the European Union as a whole, joblessness stood at 9.3 percent, up from 9.2 percent in September, Eurostat said.

Job seekers across the EU numbered 22.51 million, with 15.6 million in eurozone countries, according to Eurostat.

Global GDP to Grow Next Year: Report
After a sharp downturn in 2008 and most of 2009, the global economy is showing signs of improvement, the United Nations said in a report.

According to preliminary estimates, the World Gross Product (WGP) is expected to shrink 2.2 percent in 2009 and then grow 2.4 percent in 2010.

Latvia in Crisis
The National Bank of Latvia says that the country's GDP will shrink by 17.5 percent this year, with inflation at 3.6 percent, and unemployment at 17.6 percent. The crisis is set to move the economy back to its 2004 level, the bank said.

Russian Deputies Pass Budget
Russia's parliament has passed the budget for next year after the government decided against some previously planned spending cuts.
The budget foresees 1.6 percent GDP growth and a 2.9-trillion-ruble ($103.6 billion) deficit accounting for 6.8 percent of the GDP.

In one measure, the government will use $66 billion from a reserve fund to bolster the economy, adding to $88 billion spent from state coffers this year, according to Deputy Prime Minister Alexei Kudrin.

Ukrainian Border Closed to Debtors
Ukrainian borrowers owing money to banks will not be allowed to travel abroad, said the country's border guard service, which has been tasked with enforcing President Viktor Yushchenko's decree on stabilizing the country's banking system.
According to Ukraine's central bank, overdue and difficult loans in the country's banking system exceeded 6.1 billion hryvnas, or $750 million, in October.

Record Oil Output in Russia
Russia extracted a record 451.6 million metric tons of oil in the first 11 months of the year, 1 percent more than in the same period last year. This marks the highest output in the history of the Russian Federation, officials said.

By the end of the year, the Russians expect to extract a total of 490 million tons, beating a previous annual record of 488.1 million tons in 2007.
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