News Parkiet

Statistics

Foreign trade statistics take a hit on EU entry

Official economic figures could become less reliable after the accession into the European Union. Poland's Main Office of Statistics (GUS) bases its import and export data on SAD statements filed by local companies. After May 1st the document will be replaced by EU's Intrastat form. Sources familiar with the situation say few, if any small and mid-sized firms know how to fill in new forms.

Banking

BRE to sell new stock after first-quarter earnings

Shareholders of Commerzbank subsidiary BRE Bank have agreed to sell as much as 6.5 million new shares, raising money for corporate lending. Some of the proceeds would also be used to buy out Eurohypo's 50 pct. stake in BRE subsidiary Rheinhyp-BRE mortgage bank.

Food industry

Beer consumption up 6 pct. in 1Q

Polish breweries sold over 5 000 000 000 liters of beer in the first quarter of this year, up 6 percent from the same period a year ago, Association of Beer Industry Employers announced yesterday. However, beer industry executives say Poland's accession into the EU next month could hurt the sector because of higher limits on duty-free beer from neighboring countries.

Consumer affairs

Stalexport subsidiary fined over price collusion

UOKiK anti-trust authorities upheld a large fine on a subsidiary of Stalexport steel trading group over alleged price-fixing for road assistance services. Stalexport Autostrada, which operates toll highway between Cracow and Katowice in Southern Poland was ordered to pay 0.7 million zloty.

Engineering

Mostostal Export to double sales on Russian contracts

Mostostal Export construction group will at least double its sales from last year after reentering the Russian market, CEO Michał Skipietrow told PARKIET in an interview. Mr. Skipietrow admitted his company spent too much money and efforts on property development projects during real estate boom three years ago.