Poland

Ninth package of sanctions on Russia bogged down in debate

bne IntelliNews December 13, 2022

Debate of what should go into the EU’s ninth package of sanctions is bogged down in disagreement. EU foreign ministers met on December 12 to think up more measures to punish Russia for its war in Ukraine, but could not agree on how best to do this.

Mercedes plans to build €1.3bn e-van factory in Poland

Wojciech Kosc in Warsaw December 13, 2022

The factory will be Mercedes’ first to build only electric vans.

IMF: Riding the global debt rollercoaster

Vitor Gaspar Paulo Medas and Roberto Perrelli for the IMF December 13, 2022

Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.

NEMETHY: The case for gold today – again

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors December 12, 2022

In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.

ING: Poland’s central bank effectively ends its current tightening cycle

Adam Antoniak senior economist at ING, Rafal Benecki ING’s chief economist for Poland December 9, 2022

It's not official, as the National Bank of Poland Chair, Adam Glapiński, didn't bring the hiking cycle to an authoritative end. But recent policy actions and statements confirm it is indeed over. We expect no changes to NBP rates this year.

bneGREEN: Renewables finally achieve turbocharged growth

Richard Lockhart in Edinburgh December 9, 2022

Solar is set to overtake coal as the world’s leading source of power supply by early 2025, the IEA said

CESEE banks expect credit conditions to tighten and NPLs to rise

bne IntelliNews December 7, 2022

With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.

Global wage growth fails to beat inflation for the first time in 20 years

Statista December 6, 2022

The global inflation crisis paired with lacklustre economic growth and an outlook clouded by uncertainties have led to a decline in real wages around the world, a new report published by the International Labour Organization (ILO) has found.

Foreign investment has transformed Eastern Europe, says wiiw report

Robert Anderson in Prague December 2, 2022

Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.

bneGREEN: Energy efficiency investment turns the corner in 2022, but more is needed

Richard Lockhart in Edinburgh December 2, 2022

Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.

Poland scrapes through to World Cup’s last 16 after humbling defeat by Argentina

Wojciech Kosc in Warsaw December 1, 2022

Poland go through group stage for first time for 36 years, with Croatia poised to join them as the only CEE teams to progress.

Poland’s CPI growth eases 0.5pp to 17.4% y/y in November, flash estimate shows

Wojciech Kosc in Warsaw December 1, 2022

The reading is the first y/y easing of the index since June 2021.

Poland’s Q3 GDP growth revised upwards to 4.5% y/y amidst sharp decline in consumption and investment

Wojciech Kosc in Warsaw November 30, 2022

Sharp slowdowns in the expansion of private consumption and investment lead to growth easing from 5.6% in Q2.

bneGREEN: EU energy ministers agree to speed up permitting and deployment of renewables temporarily

Roberta Harrington in London November 29, 2022

A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.

V4 leaders meet as EC poised to take unprecedented action towards Hungary

Albin Sybera November 25, 2022

Hungarian premier Viktor Orban reiterated Hungary’s opposition to the EU’s efforts to raise cash for Ukraine on financial markets, and says its parliament will ratify Sweden and Finland's Nato membership in 'a month and something'.

bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023

Nadège Tillier is Head of Corporates Sector Strategy at ING, Maureen Schuller is head of financials sector strategy at ING, Benjamin Schroeder is a Senior Rates Strategist at ING November 23, 2022

Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.

Ukraine faces one of worst declines in GDP from a war, says EBRD

Robert Anderson in London November 22, 2022

The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.

Czech premier to attend V4 meeting despite boycott of Hungary by parliamentary leaders

Albin Sybera November 21, 2022

Contrasting stances demonstrate differences within Czechia on how to respond to Budapest's collaboration with Moscow.

bneGREEN: Climate paralysis at COP27 as no progress made on 1.5 degrees

Richard Lockhart in Edinburgh November 21, 2022

COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.

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