Weekly news:

FINANCIAL & ECONOMIC NEWS

NEWS

Russia may have taken over Polish missiles found in Chechnya from Georgian forces – Polish FM

German chancellor Merkel to visit Poland for Independence Day celebrations on Nov. 11

PRESS: Some 38 Polish listed companies could go bankrupt - analysis

PRESS: Cash injections, bank nationalization may be profitable in long run - Polish economist

STATISTICS

Poland’s GDP growth in Q1 revised downward to 6% y/y, Q2 figure unchanged at 5.8%

Poland’s core inflation accelerates to 4.3% y/y in September – National Bank of Poland

Increase in Polish core inflation figure could lead MPC to oppose interest rate cut

Poland’s retail sales rise 11.6% y/y in September

Poland’s unemployment rate drops to 8.9% in September

POLITICS

Polish Cabinet to present euro adoption schedule on October 28 – Finance Ministry

PRESS: Polish Foreign Ministry refutes Russian daily’s allegations of selling arms to Chechnya

PRESS: Polish prime minister reportedly lifts secrecy clause on CIA prisons case

PRESS: Polish foreign minister meets Belarusian opposition, discusses EU policy toward Minsk

Polish prime minister to discuss 2012 Soccer Championship projects with Chinese investors

Poland’s former communist leader Jaruzelski claims Soviet Union was ready to attack in 1981

PRESS: Russia blames Poland for WWII outbreak in new history books

Polish PM asks Constitutional Court to rule on presidential prerogatives in foreign policy

Poland’s ex-president Walesa publishes autobiography, denies communist collaboration claims

PRESS: Russia will not nuke Poland, but military reaction to follow U.S. missile base construction

COMPANY NEWS

MANUFACTURING

PRESS: China to lift blockade on Polish food products

Polish furniture makers not yet hit by financial crisis, prepare for slowdown starting early 2009

METALS

Polish copper producer KGHM employee decision about one-day strike will cost PLN 20 mln

Polish copper producer KGHM’s management board faces down union demands

REAL ESTATE

Polish developer Gant’s ’09 resi project stoppage could spell trouble for whole construction sector

Swedish developer Skanska inks PLN 200 mln Polish airport modernization deal

Poland’s building permits volume drops 1.3% y/y in January-September

Swedish developer Skanska inks PLN 139 mln deal to build library in southwestern Poland

Polish developer Polnord to continue eastern operations despite crisis in Russia

PRESS: Falling Polish zloty "exceptionally hard" on Poles with mortgage loans

Polish private equity market set to develop in face of other stagnating economies

Polish developers should continue with residential projects in anticipation of housing shortage

Polish commercial real-estate sector seen weathering financial crisis better than sector peers

Polish developer Hirny BD plans PLN 50 mln residential complex in Warsaw

Polish street-furniture maker Anti plans Warsaw Stock Exchange debut 2008 end

ENERGY NEWS

OIL & PETROCHEMICALS

Polish oil refiner Grupa Lotos to buy 10% of oil extraction licenses on North Sea for PLN 161 mln

Polish oil company Petrolinvest gets green light from PKO BP bank for shares purchase

Polish top fuel firm PKN Orlen’s Q3 2008 financial results will worsen compared to Q3 2007

PRESS: Polish oil firm Petrolinvest to carry another out share issue for estimated USD 150-250 mln

Polish top fuel firm PKN Orlen increases oil processing by 22% to 7.41 mln tonnes in Q3 2008

GAS

Polish gas PGNiG to start large-scale carbon dioxide storage projects with power plants

Russia’s Gazprom promises stability of gas deliveries to Poland under current deals – PGNiG

Polish gas monopolist PGNiG unlikely to ask for domestic gas tariff correction until Q1 2009

PRESS: Russia, Iran, Qatar create gas cartel similar to OPEC

PRESS: Polish gas monopolist PGNiG should be further privatized - CEO

Poland’s gas monopolist PGNiG will likely see worse results in Q4’08 and Q1 09 due to gas prices

HEAT, POWER & SEWAGE

EBRD ready to buy shares in Polish power group Enea for PLN 170-340 mln

Polish energy Enea posts PLN 91 mln in H1 net, down 79.9% y/y

Polish energy Enea wants at least two power-industry investors to acquire shares in IPO

Polish energy Enea expects net IPO proceeds at PLN 2.809 bln, debut by November 12

Polish financial market regulator approves IPO prospectus for energy firm Enea

Northern Poland’s Pomorskie region wants to build nuclear power plant to secure energy supplies

ALTERNATIVE ENERGY

Danish-owned Wiatropol to build first off-shore wind farm in Poland in 2010

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

Polish auction portal Allegro to enter mobile phone market by mid-2009

Polish alternative telecom Dialog to raise PLN 150 mln in IPO proceeds in H2 2009

BANKING & FINANCE NEWS

BANKING

Polish banks must impose strict lending criteria to guard against profitability loss – E&Y

Polish president urges loyalty to Polish currency in view of rapid zloty weakening

PRESS: Swiss franc shortage in Polish banks could lead to mass losses of resi down payments

Polish financial supervision authority plans to complete loan recommendation by end-2008

PRESS: Largest Polish banks could be sold by foreign owners to stave off effects of crisis

CAPITAL MARKETS

Warsaw Stock Exchange mulls creation of brand new stock market in Czech Republic

EMERGING MARKETS NEWS HIGHLIGHTS

U.S. plans another round of missile defense talks with Russia before Bush steps down

U.S. diplomat accuses Russia of failing to honor ceasefire in Georgia in full

Russian economy well prepared for lengthy external shocks – Putin

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

Agency Interfax