Weekly news:

FINANCIAL & ECONOMIC NEWS

NEWS

EBRD, EIB and World Bank to commit EUR 24.5 bln to support CEE banking sector, enterprise

Poland "credible partner" for UEFA as most Euro 2012 projects going in line with schedule – Tusk

Poland doing well in preparations for UEFA Euro 2012 soccer tournament – Polish sports minister

MONETARY POLICY

PRESS: Polish president, prime minister agree on need for common euro zone entry plan

Poland’s Monetary Policy Council cuts interest rates by 25 basis points across the board

Polish president questions gov’t plans for ERM2 currency grid entry by mid-2009

PRESS: Polish government to launch negotiations on euro zone entry with Central Bank

Poland’s Central Bank may step in to prevent negative implications of PLN weakening

PRESS: Polish government launches secret negotiations on ERM2 entry

COMPANY NEWS

METALS

Polish copper miner KGHM posts PLN 387.57 mln in standalone Q4 net profit, down 49% y/y

PRESS: Polish copper miner KGHM to focus on mining investments in 2009, looks for acquisitions

Polish copper producer KGHM’s 2009 budget very conservative, cost cutting surprising – analyst

Polish copper miner KGHM sees PLN 488 mln net profit in 2009

CHEMICALS

Polish chemical firm ZCh Police’s supervisory board appoints executives for new term

RETAIL & CONSUMER GOODS

Polish retailer Empik plans PLN 100 mln investment in 2009, sees new openings in Eastern Europe

Polish retailer Empik posts PLN 92 mln consolidated Q4 2008 net, up 33.7% y/y

FOOD, BEVERAGE & AGRICULTURE

Baltic States see worst health statistics of all new EU states – report

REAL ESTATE

Polish developer LC Corp withholds PLN 350 mln office project in hopes of better economy

Polish construction firm Polimex-Mostostal posts PLN 29.8 mln Q4 net, slightly below expectations

Poland-listed developer LC Corp posts PLN 9.03 mln Q4 2008 net, up 44.5% y/y

Polish capital ranked 21st in CushWake survey of 57 most expensive office locations

Polish currency-denominated mortgage interest rates seen declining 10% in H2 2009 – report

Polish developer Dom Development sells 994 apartments in 2008, down 42% y/y

Polish developer Dom Development posts PLN 2.5 mln Q4 2008 net, down 94.2% y/y

Polish developer Polnord posts PLN 5.54 mln Q4 2008 net, up 92.2% y/y

Polish developer J.W. Construction posts PLN 36.3 mln Q4 2008 net, down 64% y/y

PRESS: Polish developer Gant Development expects to sell more than 750 apartments in 2009

PRESS: Polish used resi market stagnates as experts record 90% y/y drop in Jan-Feb ’09 demand

Polish-listed developer Ronson Europe signs sales deals on more than 60% of its Warsaw project

ENERGY NEWS

OIL & PETROCHEMICALS

Top Polish refiners PKN Orlen, Grupa Lotos to up gasoline price Saturday, Lotos to cut diesel

Polish top fuel firm PKN Orlen expects operating profit to improve in 2009

Polish fuel firm PKN Orlen puts off plan to build oil product pipeline to Klaipedos Nafta terminal

Lithuania wants to keep influence on Mazeikiu Nafta after selling stake to Poland’s PKN Orlen

Lithuanian refiner Mazeikiu Nafta’s Q4 net loss at USD 78 mln, full-year net profit at USD 23 mln

Poland’s top refiner PKN Orlen turns in PLN 3.05 bln Q4 net loss, in line with expectations

Polish refiner Grupa Lotos seen posting PLN 918-970 mln net loss in Q4 2008

Lithuanian refiner Mazeikiu Nafta gets USD 63 mln as third tranche of compensation for 2006 fire

Lithuania to sell minority stake in refiner Mazeikiu Nafta to Poland’s PKN Orlen in March

GAS

Polish gas monopolist PGNiG seen posting PLN 35-148 mln Q4 net profit

Hungarian gas trader Emfesz hopes to begin preparations in Q4 2009 for gas import to Poland

Polish gas pipelines operator Gaz-System to invest PLN 5 bln in domestic infrastructure by 2014

Polish gas distributor CP Energia posts Q4 net profit, full-year 2008 in the red

Polish gas monopolist PGNiG wants 300 MW power production capacities in 2015

Polish gas monopolist PGNiG may start building commercial gas storage facility in 2011-2012

HEAT, POWER & SEWAGE

Estonia to build its own nuclear power plant

PRESS: Poland could import cheap electric energy from Ukraine, but Ukrainian gov’t blocks plan

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

Polish alternative telecom Dialog post PLN 261.5 mln in Q4 net losses

Polish mobile phone operator Polkomtel post PLN 175 mln in Q4 net profits, down 49% y/y

Deutsche Telekom’s Polish mobile operator PTC posts PLN 2.024 bln in Q4 revenues, up 5% y/y

France Telecom’s Polish TP generates PLN 8.64 bln 2008 revenues in mobile segment, up 7.1%

France Telecom’s Polish TP posts PLN 179 mln in Q4 net, down 70% y/y

Polish alternative telecom Netia posts PLN 10.1 mln Q4 net losses, positively surprising market

BANKING & FINANCE NEWS

BANKING

PRESS: Some 1.3 mln Poles are having problems in meeting loan repayment deadlines

Polish PKO BP bank posts PLN 548.1 mln in Q4 net, misses target on problems with Ukrainian unit

RUSSIA & CIS NEWS HIGHLIGHTS

Russian GDP shrank approx 8.8% in Jan – source

Gas prices for Belarus could fall to $100 per 1,000 cubic meters by end of 2009

CALENDAR

Central European data release schedule - week 10 (Mar. 2-6)

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

Agency Interfax