May 24, 2018 / 6:03 AM / 5 months ago

Poland - Factors to Watch May 24

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Thursday. ALL TIMES GMT (Poland: GMT + 2 hours):

BOND TENDER

Poland will offer treasury bonds worth 3.0 billion zlotys ($813.96 million) at a regular tender on Thursday. Results of the tender are expected at 0930 GMT.

INTEREST RATES

For now, the rates will be stable, although it would be good to raise them in order to avoid all the possible inflation-related threats, Monetary Policy Council (MPC) member Kamil Zubelewicz told PAP news agency.

He said that the balance in the MPC is shifting now, and that he thinks that it would be best to raise rates to 2 percent. Presently, the main interest rate is at 1.5 percent.

PRIVACY

The Polish finance ministry wants banks to provide the taxman with information on locations from where companies’ representatives order their internet payments. The ministry explains that such a move is aimed at making life harder for tax fraudsters.

COMPANIES RESULTS

Polish companies’ aggregated net profit fell in the first quarter by 5 percent year-on-year to 36.7 billion zloty ($9.99 billion), Rzeczpospolita daily reported.

JSW

Miners at European Union’s biggest coking coal producer JSW demand a 15 percent pay rise, but the management board plans to raise their salaries by half of this amount at most, Dziennik Gazeta Prawna daily said.

PGNIG

Poland’s gas firm PGNiG is considering asking the United States to be exempted from the anti-Iran sanctions, if French firm Total succeeds in its attempts to get such a permission, the PGNiG chief executive was quoted by Dziennik Gazeta Prawna.

PIOTR I PAWEL

A list of investors interested in buying Polish supermarket chain Piotr i Pawel includes Jeronimo Martins, Carrefour, Maxima Grupe, ITM Polska, as well as financial investors, Rzeczpospolita said.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

For other related news, double click on: Polish equities E.Europe equities Polish money Polish debt Eastern Europe All emerging markets Hot stocks Stock markets Market debt news Forex news For real-time index quotes, double click on: Warsaw WIG20 Budapest BUX Prague PX ($1 = 3.6749 zlotys) (Reporting by Warsaw Bureau; Editing by Biju Dwarakanath)

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