News Parkiet

Corporate rankings

Orlen, Telekomunikacja Polska top INE PAN corporate ranking

PKN Orlen petrochemicals group and phone company Telekomunikacja Polska took the first and second place respectively as the biggest Polish corporations by sales in a ranking compiled by Polish Academy of Science Institute of Economic Science. Other top performers included AIG Bank Polska as the best financial institution, JSW mine holding - the most profitable manufacturing firm and PTC mobile phone company in the category as the best company in the 'infrastructure' category.

Almost a quarter of all firms from INE PAN rankings were listed on the Warsaw Stock Exchange.

Home furnishings

Kwiecień family makes a bid for Irena

Three privately held companies controlled by the family of Polish businessman Marian Kwiecień have made a bid for all outstanding shares of the publicly traded glassware manufacturer HSG Irena. Kwiecień is offering 13.4 zloty per share, a 5.5 percent premium from Irena's closing price of 12.7 zloty.

Media

Outdoor advertising spending up by a third

Sales of the biggest outdoor advertising firms rose as much as 34 percent to 94.9 million zloty, an industry association said yesterday. 'This is mainly because of changes in how advertisers plan their budgets', Leszek Kaczoń, the head of Outdoor Advertising Chamber of Commerce said. He explains that many big advertising clients begun planning their annual budgets five quarters in advance in order to stay ahead of the competition.

IGRZ estimates this year's growth at around 10 percent.

The economy

Inflation heading lower, loan indicator shows

Falling loan growth rate indicates a decline in inflation levels, some economists predicted using historical economic data. Although most economists are skeptical about the idea this time, in the past, lower loan volume signaled a short-term decline in the country's inflation rate.