News Parkiet

Pension funds

Pension fund regulator can?t follow official rules

KNUiFE pension fund regulatory agency hasn?t paid mandatory ZUS social security benefits for some of its staff, former employees told PARKIET on Thursday. Senior KNUiFE official Sławomir Peszkowski has denied the allegations. At least 180 former public servants employed by KNUiFE received official explanations from their former employer, which blames ZUS social security administration for the delay in processing payments between April and June 2001. However, sources at KNUiFE told some former staff members the delays may have occurred because of the merger between KNUiFE?s successors, PUNU insurance industry regulator and UNFE, a government agency charged with overseeing private pension funds in early 2001.

Stock markets

Euronext trying to outbid Ohmex for LNM

Warsaw Stock Exchange together with Euronext and the competing Ohmex group have both raised their bids for Lithuanian National Exchange, sources at the State Property Fund said yesterday. Lithuanian government has initially offered to sell 54 percent of the company running the country?s stock exchange plus 32 percent of its clearing house for a total of 2.7 million US dollars. Eventually Ohmex and Euronext were both asked to submit higher bids in an attempt to take control of the Baltic States? sole remaining independent stock exchange. Lithuanian authorities are set to announce the winner within days.

Information Technology

Veracomp sees more growth in 2004

Kraków-based hardware distributor Veracomp S.A. expects double-digit revenue growth thanks to higher export sales this year. Privately held company expects sales of at least 180 million zloty. Veracomp specializes in storage, network security and telecom solutions. It has offices in home town and in New York, selling products in eleven countries across Central and Eastern Europe.

Macroeconomics

Higher inflation unlikely after EU entry

May 1st entry into the European Union won?t affect Polish CPI significantly despite higher taxes, independent economic think tank said in a study commissioned by the Polish Finance Ministry. NOBE says manufacturers? prices already reflect higher VAT tax rates on building materials and other selected products.