New LNG gas carriers “Józef Piłsudski” and “Ignacy Paderewski” owned by ORLEN group will start service in 2025 increasing the group’s LNG fleet to six ships. Construction of both carriers in Hyundai Samho Heavy Industries shipyard is on schedule and expected to end in first half of 2025. Like the group’s previous carriers, “Lech Kaczyński”,…
The European Space Agency’s project AGRONAUT is developing a multi-purpose Moon lander intended to support a broad range of missions, like supplies of cargo for bases, researches, rovers and power stations. The main element of the lander is a robotic manipulator to carry objects to the Moon surface engineered by a Polish space robotics company…
Central Statistical Office (GUS) data show that wage growth remains rapid and has again exceeded economists’ forecasts, while employment remains high and real wage growth is the highest in at least a quarter of a century. In February, the growth rate of average wages again exceeded the already high forecasts of economists for the second…
The World Bank increased its annual GDP growth forecast for Poland to 3.0% in 2024, primarily on the back of the recovery in private consumption, but economic activity in the emerging and developing economies of the Europe and Central Asia region is likely to slow this year as a weaker global economy, tight monetary policy,…
Baltic Offshore Service Solution is the name of the service company established by partners developing the Baltic Power offshore wind farm. The service company was established by Energa Wytwarzanie (from the Orlen group) and the Canadian Northland Power, which is a minority partner of Baltic Power with a capacity of 1.2 GW. Baltic Offshore Service…
Poland’s government will end 0% VAT on food introduced two years ago to help soften the blow of soaring inflation. The finance ministry said the recent slowing of price rises renders the measure no longer necessary. “Due to the latest inflation readings and forecasts of prices of basic food products subject to the transitional 0%…
Polish e-commerce giant Allegro – a leading player on the domestic market – has expanded its brand to a third country in the region after launching the Allegro.sk shopping platform in Slovakia. Allegro, also one of Europe’s largest e-commerce platforms, has since 2022 been operating in Slovakia, the Czech Republic, Hungary and Croatia under different…
Moody’s confirmed Poland’s long-term foreign currency rating at the “A2” level, and its outlook remains stable, the agency said in a statement. The stable rating outlook is supported by the significant improvement in relations with the EU since the change of government in December 2023. “In addition to unlocking significant EU funds, this has already…
On 20 March the Polish Minister of Digitalisation and the Minister of Science and Higher Education signed the European Declaration on Quantum Technologies of December 2023, also known as the Quantum Pact, already jointed by 18 EU Member States. The Quantum Pact expects all the European quantum computers to be connected within one network. The…
When Poland became a member state of the European Union on May 1, 2004, Warsaw was perhaps still a somewhat distant destination for many in Brussels. But 20 years down the line and Poland’s capital has come to represent a new center on the map of the EU. Poland’s economic dynamism and more recently its…
The leasing industry is one of the engines of the Polish economy, says Monika Constant, president of the Polish Leasing Association. It finances almost 30% of investment outlays and is the preferred form of financing for the SME sector, which generates nearly 50% of GDP, according to a report prepared by the Polish Leasing Association…
According to “Loud & Clear,” an annual report on music royalties, Spotify released data on Polish artists’ revenues from the platform for 2023 for the first time. In total, last year they amounted to over 150 million zlotys, an increase of 20% compared to 2022. For the past 11 years, Spotify has actively participated in…
