News Parkiet

Equity markets

Urząd Skarbowy rules in favor

of mutual fund investors

Polish tax authorities issued a new interpretation of local tax rules, allowing investors to offset gains and losses on investments in mutual funds. Since January all capital gains are subject to a 19 percent withholding tax.

Automotive industry

Four automakers vying for Daewoo?s plant

Japan?s Daihatsu, Austrian Magna Steyr, Ukrainian ZAZ and an unnamed firm with ties to MG Rover are interested in taking over production at Żerań plant of the former Daewoo Motor Polska, sources close to the situation told PARKIET Wednesday. Final decisions on new investor for Daewoo?s flagship factory in Poland won?t be made for at least a few months.

Information Technology

ComputerLand buys another software house

ComputerLand SA, Poland?s second largest IT company paid 2.1 million zloty for the 70 percent interest in Warsaw-based Zeto-Rodan, a small software house, which makes niche applications for the brokerage industry.

Just three months ago Zeto-Rodan was part of ComputerLand?s local competitor, Softbank SA, top Polish IT provider for the financial industry.

Information Technology

Optimus eyes acquisitions in Ukraine

Polish computer maker Optimus SA says it is conducting due diligence of two Ukrainian PC-makers worth some 5 million dollars each. Company officials say they will pick one of the two within weeks. Optimus plans to sell up to 20 million zloty worth of new stock to pay for the acquisition.

Steel industry

Stalexport down on concerns over stock issue

News of another stock sale and possible claims has sent shares of Stalexport steel trading group in a free-fall this week. On Wednesday alone, the stock fell 9.2 percent in very heavy trading to close at 2.38 zloty, the lowest in three months. Katowice-based Stalexport, which is due to join WIG20 blue-chip index on June 19, said it would sell up to 40 million new shares. The company now has about 108 million shares outstanding.