News Parkiet

Equity market

Finance Ministry won?t extend tax break to all, official says

Finance Ministry won?t extend capital gains tax exemption to investors who moved their stocks between various brokerage houses and can?t find transfer certificates, deputy Finance Minister Jarosław Neneman said. The news leaves people whose stockbrokers went out of business on their own in search for stock purchase records.

Information technology

Softbank inks deal with Raiffeisen

Polish computer company Softbank SA is reported to have signed a three-year contract to develop risk management system for Austria?s Raiffeisen Zentralbank, sources close to the situation told PARKIET. The deal is worth ?several million zloty?, unnamed sources said yesterday. Equity analysts who talked to PARKIET on condition of anonymity praised Warsaw-based firm saying the contract may pave the way for other projects with Raiffeisen and with other clients.

The economy

Retail sales signal economic slowdown

Lower than expected retail sales in February may be a sign that Polish economy is slowing down, economists say. Main Office of Statistics (GUS) said on Wednesday that last month?s retail sales rose just 2.4 percent year on year, down from January?s 7.5 percent.

Entertainment

Helios mulls IPO

Łódź-based multiplex theater operator Centrum Filmowe Helios may list its shares on the WSE, chief executive told PARKIET yesterday. Helios, which operates several theaters with 37 screens, posted 5.6 million zloty in profits on sales of more than 60 million zloty, Tomasz Jagiełło said.

Steel industry

Ferrum announces stock offering

Steel pipe manufacturer Huta Ferrum announced details of a secondary offering along with earnings guidance for 2005 yesterday. Katowice, Silesia-based firm said it plans to sell up to 5 million shares, raising money for working capital and upgrades. It expects profits of at least 16.5 million zloty compared with last year?s PLN 12 million.