Weekly news:

HEADLINE NEWS

Polish financial watchdog accuses JP Morgan representative of stock market manipulation

FINANCIAL & ECONOMIC NEWS

NEWS

Ex-Soviet citizens comprise largest group of immigrants in Poland – survey

PRESS: Russian cyber-mafia steals from unsuspecting Poles

PRESS: Pirates demand USD 25 mln for hijacked oil tanker with two Polish sailors among crew

Ukrainian gov’t closes Euro 2012 national agency, creates Cabinet structure as replacement

PRESS: Experts rule out recapture of hijacked Saudi oil tanker, two Polish officers still on board

PRESS: Famous Polish paintings stolen from Warsaw auction house

PRESS: Dramatic Polish tax reform to come into effect January 1, 2009

Poland’s credit ratings stable thanks to high economic, institutional strength – Moody’s

PRESS: Polish sailor said to be aboard oil tanker hijacked off African coast Monday

MONETARY POLICY

Poland’s Central Bank chief promises to cooperate with Cabinet on euro adoption plan

Polish conservative opposition firmly refuses to back euro adoption in 2012

PRESS: Poland cannot join euro zone in 2012 without sharp budget cuts - experts

STATISTICS

Poland’s industrial output up 0.2% y/y in October

COMPANY NEWS

MANUFACTURING

PRESS: Auto producer Opel could lay off 100,000 if no rescue plan comes through

CHEMICALS

Poland’s Treasury reluctant about proposal to increase dividend payout from chemical ZA Pulawy

Polish fertilizer producer ZA Pulawy intends to earmark PLN 166.3 mln on dividend

Polish fertilizer producer ZA Pulawy likely to post operating loss in Q4 2008 - analysts

Polish chemical firm ZCh Police’s strategy unlikely to improve results in coming quarters - analysts

RETAIL & CONSUMER GOODS

Polish retailer Empik delays entry onto Romanian market

Polish retailer Empik plans investment program slowdown for next 6-9 months

Polish retailer NFI Empik posts PLN 3.7 mln Q3 ’08 net, up 8% y/y

REAL ESTATE

Polish developer to revitalize Warsaw located CEDET retail center

Residential sales decline on Polish market attributed to mistakes on domestic market – expert

Poland’s top developers bet on popular residential segment in 2009

Warsaw, Bucharest, Prague retail rents expected to increase by 10% in 2009 - report

U.S. warehouse developer Panattoni has 343,200 sqm under construction in Poland

British investor, German developer plan 25 new shopping centers in Poland

Polish residential asking prices continue decline – report

Polish engineering company Pol-Aqua disappoints with PLN 8.32 mln Q3 net

ENERGY NEWS

OIL & PETROCHEMICALS

U.S.-based FX Energy suspends drilling operations at Polish Sroda-6 well

Norwegian Statoil could become a strategic partner of Polish No. 2 refiner Grupa Lotos - analysts

Polish No. 2 refiner Grupa Lotos will sell fuels to Statoil Poland for PLN 7 bln

PRESS: Polish oil exploration firm Kulczyk Oil Ventures to debut on WSE in 2009

PRESS: Kuwait could invest part of USD 220-300 bln in Poland

PRESS: Polish-Kazakh oil firm Petrolinvest to post first oil extraction revenues in H1 2009

Lithuania to sell to Polish top fuel firm PKN Orlen remaining 10% stake in Mazeikiu Nafta refinery

Polish oil sector firm Petrolinvest posts net loss of PLN 34.3 mln in Q3 2008

GAS

Qatar interested in liquefied natural gas supplies to Poland – Polish PM

Poland wants Qatar to become its major partner in gas projects, PM Tusk

Polish gas monopolist PGNiG shareholders postpone approval of PLNG stake’s price

Polish gas monopolist PGNiG expects no problems with gas supplies in winter 2008/2009

Polish gas monopolist PGNiG will not request gas price tariff change before February 2009

Polish gas monopolist PGNiG will likely benefit from problems faced by chemical firms - analysts

COAL

Polish gas monopolist PGNiG and power group Tauron to build gas-fueled power plant

Polish coal miner Bogdanka in talks to build new power plant with capacity up to 1,600 MW

Polish chemical company ZA Pulawy, coal miner Bogdanka ink coal gasification deal

Polish coal miner Bogdanka to file IPO prospectus in November, sees stock debut by Q2 2009

PRESS: Polish coal mining and power sectors aim to hike mutual prices

Polish coal miner Kompania Weglowa to invest PLN 9 bln by 2015

HEAT, POWER & SEWAGE

PRESS: Polish energy regulatory office URE considering move to restore electric price tariff

Poland rejects France’s latest offer on EC’s climate-energy package, insists on own proposals

Poland could get free carbon emission allowances worth millions of euros

PRESS: Polish No. 1 power group PGE to pay more than PLN 1 bln for minority stakes

Polish power group Enea to issue PLN 8-10 bln in bonds to finance investments

Polish power group Enea posts net profit of PLN 45 mln in Q3 2008

PRESS: Polish power group Enea to continue energy unit construction in Kozienice power plant

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

Polish court lifts injunction on minority stake in mobile telecom Polkomtel

BANKING & FINANCE NEWS

FINANCIAL SERVICES

PRESS: Polish debt collector Fast Finance plans Warsaw Stock Exchange main market entry Q2 ’09

EMERGING MARKETS NEWS HIGHLIGHTS

Ukraine’s Security Service to join Central European security body

Most Russians back plans to place Iskander missiles in Kaliningrad region - poll

Naftohaz Ukrainy owes Gazprom-linked RosUkrEnergo almost USD 1.3 bln for natural gas

Somalia needs Russian ships to fight pirates - Somalian ambassador

Freedom House lists Kazakhstan, Belarus as "authoritarian regimes," Central Europe "democratic"

New U.S. gov’t must be given time to forge policy on AMD – French ambassador

U.S. President-elect Obama phones Georgian President Saakashvili, backs ’territorial integrity’

FINANCIAL MARKETS

MONEY MARKET

National Bank of Poland official interest rates – 21/11/2008

Nb: This news report features only the headline of each news.

Agency Interfax