Poland

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Polish Ruling Party Waters Down Banking Levy to Protect Budget

Poland’s ruling party softened a tax on its financial industry which could have hurt its ability to finance the budget deficit, helping to rally government bonds today, Bloomberg News reported. Parliament’s public finance committee excluded banks’ roughl ...

Daily Headline - abi_admin - 12/29/2015 - 12:37 - 0 comments

Polish Presidential Aide Says Banks Safe Despite SK Bank Failure

The Polish president's economic advisor Zdzislaw Sokal told Reuters that the failure of SK bank which cost other lenders some 1.4 billion zlotys ($348.17 million) would not inflict any damage on the domestic banking sector. Sokal added that Presiden ...

Daily Headline - global.abi.org - 11/29/2015 - 17:14 - 0 comments

Poland's JSW Optimistic On Reaching Debt Restructuring Deal

Coking coal producer JSW expects to reach an agreement with bondholders on a debt restructuring, the company's deputy head said on Friday, three days ahead of a deadline in the negotiations. State-controlled JSW is struggling to cope with record low ...

Daily Headline - global.abi.org - 11/15/2015 - 23:20 - 0 comments

Poland's Tauron Says Bids To Buy Troubled Brzeszcze Mine

Poland's second-biggest power firm Tauron said on Thursday it has submitted an offer to buy assets owned by the troubled state-run Brzeszcze mine, Reuters reported. The already highly-indebted Tauron said it submitted the offer through a special pur ...

Daily Headline - global.abi.org - 09/10/2015 - 21:02 - 0 comments

Polish Treasury Wants To Partially Transfer Pgnig, PZU, PGE Stakes To Government Fund

Poland's treasury ministry wants to transfer part of its stakes in gas group PGNiG, insurer PZU and utility PGE into state-run investment fund TF Silesia, an official agenda for a cabinet meeting on Monday showed. A treasury spokesman declined to co ...

Daily Headline - global.abi.org - 09/08/2015 - 19:51 - 0 comments

Poland Back In Talks With Power Firms On Direct Help For Miner KW

Poland is again trying to persuade power firms to take direct stakes in troubled coal company Kompania Weglowa as launching a fund to help the miner would take too long, Rzeczpospolita daily said on Wednesday. The Polish government is working hard to kee ...

Daily Headline - global.abi.org - 07/29/2015 - 19:40 - 0 comments

Bond restructuring: A completely new legal regulation in Poland

Completely new solutions on bond restructuring will come into force in Poland on 1 July 2015. The change is crucial – so far, in principle, bond restructuring has been impossible, with the issuers having to resort to partial solutions or being unable ...

Resource Article - abi_admin - 07/27/2015 - 11:54 - 0 comments - 1 attachment

Poland Persuades Three Blue-Chip Firms To Help Rescue Coal Sector: Sources

Poland has persuaded at least three major companies to contribute to a bailout of troubled coal miner Kompania Weglowa, despite some executives' misgivings about the commercial logic of getting involved, sources with knowledge of the matter said. Af ...

Daily Headline - global.abi.org - 07/22/2015 - 18:33 - 0 comments

Poland’s Banks Braced For $2.5 Billion Hit On Swiss Franc Mortgages

In a related story, the Financial Times reported that Poland’s banking sector is bracing itself for a $2.5bn hit as the fallout from the Swiss franc’s appreciation continues to hurt the country’s lenders. Seven of the country’s largest banks could se ...

Daily Headline - global.abi.org - 07/20/2015 - 19:36 - 0 comments

Challenges for the US Retail Sector, Inside and Outside Bankruptcy

In recent months, the US has seen a staggering increase in the number of retailers, both large and small, filing for bankruptcy. Among others, Dots, Alco Stores, Radio Shack, Deb Shops, Wet Seal, and Delia’s have each filed for bankruptcy protection in t ...

Resource Article - twallace@abiwor... - 10/15/2015 - 07:46 - 0 comments - 0 attachments

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