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Sejm passed a resolution on CETA

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Sejm, the lower chamber of Polish parliament, passed a resolution concerning a trade agreement with Canada (CETA). The MPs accepted adding the provision saying that Sejm will ratify CETA with a 2/3 majority vote. 326 MPs voted in favour of the resolution. 90 were against, 11 abstained.   CETA (Comprehensive Economic and Trade Agreement) proposes the removal of almost all customs duties and non-tariff barriers as well as liberalisation of trade in services between the European Union and Ca Read more

Good news from the Polish job market

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Labour Market Index (WRP) – which allows to get early information on the upcoming changes to the unemployment figures – in September 2016 decreased by 0.8 point month on month.   The factors which positively affect Polish labour market and cause the unemployment rate to fall, certainly still dominate. The results of periodic research on the labour market for 2016 prove that the influx of people without work is steadily decreasing, with continually growing number of available job offer Read more

New model of supervision over the companies owned by Polish State Treasury

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Polish Prime Minister Beata Szydło in an interview for „Dziennik Gazeta Prawna” announced that the biggest State Treasury companies, currently supervised by the Minister of State Treasury, will soon come under the supervision of specific departments.   This will be the case for PZU, KGHM and Azoty, among others. The remaining companies will be supervised by a specialized agency run by a suitable manager. What is more, the agency itself will be answerable to the head of the government Read more

Amendments to the Polish Labour Code in 2016

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In 2016 numerous new provisions of Polish Labour Code came into force. The key changes in the Labour Code in 2016 concern fixed-term employment contracts as well as concluding employment contracts.   Amendments to the regulations introduce new rules of employment based on a fixed-term employment contract. The employer will be able to conclude only three such contracts with an employee for the maximum period of 33 months. Notice periods will also be changed.   Up until now, the limi Read more

The growth rate of the quality of life in Poland is increasing. The standard of living of Poles is growing faster than that of the wealthier economies.

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In the latest edition of the Boston Consulting Group report, which is prepared from 10 years, Poland reached a relatively high, 30th position out of 162 encompassed countries. This means that when it comes to quality of life, we are right behind Spain, and right before… Italy which came in at 31st. This is the first report in which the Republic of Poland succeeded in catching up with not only the south European countries struggling with crisis, but also some “Old Union Read more

Poland issues „Pandas” as the first country in Europe. The bonds get a lot of investor interest.

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Polish Ministry of Finance signed a memorandum on cooperation with the People’s Bank of China, regarding issuing of Panda bonds in the total amount of 3 billion yuan. They will be issued to the market within 3 years, thanks to which Poland will be the first country from Europe that will offer such financial product on the Chinese market. Economists are of the opinion that as the pace of opening of the Chinese banking sector and internationalization of Chinese currency – RMB - increases, issu Read more
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