Poland - Factors to Watch July 9

Wed Jul 9, 2014 2:28am EDT

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Here are news stories, press reports and events to watch which may affect Poland's financial markets on Wednesday. ALL TIMES GMT (Poland: GMT + 2 hours):

GDP GROWTH

Poland's economic growth in the second quarter for sure did not show such acceleration as in the first quarter, Finance Minister Mateusz Szczurek told Dziennik Gazeta Prawna daily.

PENSION FUNDS

About 478,000 people have declared so far that they want to keep their pension assets in privately-managed pension funds, known as OFE, and not have their assets transferred to the state pension vehicle, Puls Biznesu daily reported.

This is 3.4 percent of the current number of clients. Representatives of the pension funds managers expect that 7 percent of current clients of OFE will stay in the funds.

CENTRAL BANK

The central bank's Monetary Policy Council should keep its competences of approving the bank's financial statements and choosing an auditor even after any amendment of central bank law, rate-setter Elzbieta Chojna-Duch told Rzeczpospolita.

She added that the current competences of the Council are in the public interest.

PKN ORLEN

Poland's top refiner PKN Orlen is not engaged in talks regarding the sale of its Lithanian assets, Rzeczpospolita daily reported. Earlier, Lithuanian media reported that Kazakh firm KazMunaiGaz was interested in purchasing PKN's refinery in Lithania.

ENEA

Utility Enea may issue bonds worth 0.5 billion zlotys by the end of 2014, Rzeczpospolita daily reported.

POLISH INVESTMENTS

Polish Investments for Development (PIR), the state vehicle for infrastructure investments, is currently engaged in eight projects worth a total of 6.55 billion zlotys ($2.17 billion) of which five are in the energy sector, Parkiet daily reported.

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