WBJ #24 2012

VOLUME 18, NUMBER 24 • JUNE 18-24, 2012 . z∏.12.50 (VAT 8% included) . ISSN 1233 7889 INDEX-RUCH-332-127

SSccoorree uunncceerrttaaiinnSoccer fans are flocking to Poland, but not

all of the country’s businesses are profiting

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Since 1994 . Poland’s only business weekly in English

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Beacon of business The Polish-American businesscommunity wants to boost economicties to match their countries’ long-standing political relationship

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News . . . . . . . . . . . . . . . . . . . . . . .2-6

Finance & Economics . . . . . . . . . . .7

Business . . . . . . . . . . . . . . . . . . . .8-9

Interview . . . . . . . . . . . . . . . . . .10-11

Cover Story . . . . . . . . . . . . . . . .12-13

Opinion & Analysis . . . . . . . . . . . .14

Lokale Immobilia . . . . . . . . . . .15-17

The List . . . . . . . . . . . . . . . . . . . . . .19

Markets . . . . . . . . . . . . . . . . . . . . . .20

Sports . . . . . . . . . . . . . . . . . . . . . . .21

Lifestyle . . . . . . . . . . . . . . . . . . . . .22

Last Word . . . . . . . . . . . . . . . . . . . .23

In this issue

• Liberty Tower

in Warsaw

• Airport office

locations

• GTC sells offices

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LLOOKKAALLEEIIMMMMOOBBIILLIIAARREEAALL EESSTTAATTEE

Poland’s coming digital-mediaboom will outpace the phenomenonin Western Europe

Interview: Ryszard KaliszPoland’s second-most trusted politicianwants to revive Poland’s left

10-118

SSaaffeettyy ffiirrssttA bit of hooligan brawling aside, security

held tight during the first week of Euro 2012

4

Greece inthe spotlight

Greece has held its

latest election.

Now what? 2

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*Highest in EU27**Lowest in EU27

JUNE 18-24, 2012NNEEWWSS2 www.wbj.pl

One in two

Poles

overweight

Over 60% of men and 50%

of women in Poland are

overweight or obese,

according to the National

Food and Nutrition

Institute in Warsaw, which

is launching a national

awareness program to

promote healthy eating

habits and physical

activity. Low levels of

physical activity among

Poles heavily contribute to

the high percentage of

overweight individuals,

the organization said.

Euro to add

0.2 pp to GDP

In the second quarter of

2012, revenues from the

Euro 2012 soccer

tournament will increase

Poland’s gross domestic

product by 0.2 percentage

points, according to

estimates by experts from

the Institute for Market,

Consumption and

Business Cycles Research.

They also predict that the

country’s GDP growth will

not rise by more than

3.4% this year, but it will

only get that high if euro-

zone GDP doesn’t fall by

more than 0.3%, and the

slowdown in Russia and

China isn’t too sharp.

KwaÊniewski

to monitor

Tymoshenko

trial

Former Polish President

Aleksander KwaÊniewski

has been chosen as a

special EU envoy to

monitor Yulia

Tymoshenko’s appeals

trial in Ukraine. Ms

Tymoshenko is currently

serving a seven-year

prison sentence for

alleged abuse of power.

She plans to appeal her

sentence on June 26. Mr

KwaÊniewski, along with

former EU Parliament

President Pat Cox, will

have full access to Ms

Tymoshenko before and

during the trial.

PiS urges

Solidarity

Poland to

come back

Politicians from main

opposition party Law and

Justice (PiS) offered an

ultimatum to members of

the Solidarity Poland

party, a splinter group: If

by July 27 they don’t join

PiS, they will be excluded

from PiS election lists. ●

Acron............................................................8

Alior Bank..................................................16

Allianz Group ............................................15

Apple ..........................................................23

Areva ..........................................................13

Asseco........................................................15

Azoty Tarnów ..............................................8

BASF ............................................................8

BZ WBK ......................................................7

Chevron......................................................13

China BlueChemical ..................................8

Citi Handlowy ..............................................7

ConocoPhillips ..........................................13

Costas Kondylis ........................................15

Deloitte ......................................................17

DTZ ............................................................16

Echo Investment........................................16

EDF ............................................................13

Eiffage Budownictwo Mitex ......................16

ExxonMobil ................................................13

Fatima Group ..............................................8

France Telecom ..........................................6

General Electric ........................................13

Globe Trade Centre ............................15, 16

GTC Real Estate Holdings ........................16

Hackett Group ..........................................13

Hitachi........................................................13

Holiday Inn ................................................15

Hubei Yihua Chemical ................................8

IBM ............................................................13

Jones Lang LaSalle ..................................16

Kardan ......................................................16

Keen Property Partners............................15

Kinoteka Multiplex ......................................9

Kulczyk Holding ..........................................6

Kury∏owicz and Associates ......................15

LC Corp......................................................15

Liberty Development ................................15

Marathon Oil..............................................13

McFit ..........................................................12

Motorola ....................................................12

Nuctech ......................................................8

Nurol Holding ..............................................8

PCC ..............................................................8

PCC Rokita ..................................................8

Peter Nielsen & Partners ..........................8

PGNiG ..........................................................8

PKN Orlen................................................6, 8

Pol-Aqua....................................................15

“Polish Airports” State Enterprise ..........16

Polnord ......................................................15

PwC..............................................................8

PZU ..............................................................9

Robyg ........................................................17

Ronson Development ................................17

SABIC ..........................................................8

Talisman Energy Poland ............................9

Telekomunikacja Polska ............................6

Toshiba ......................................................13

TRW............................................................13

Vinci ..........................................................23

Westinghouse ............................................13

Yara International........................................8

On June 17, Greece wasscheduled to hold its secondparliamentary election in justover a month. Some fear theresult, still unknown whenWBJ went to press, could leadto a deepening of the euro-zone crisis or even a total col-lapse of the currency union.

A new Greek governmentwill have to decide whether tocontinue accepting the condi-tions of the country’s bailoutprogram, and all the unpopu-lar austerity measures that gowith it.

An inconclusive parliamen-tary election in May failed toproduce an outright winner asvoters largely shunnedGreece’s two mainstream pro-bailout parties, the conserva-tive New Democracy and thesocialist PASOK, for the radi-cal leftist SYRIZA and thenationalist Golden Dawn.

Alexis Tsipras, leader ofSYRIZA, which was runningneck-and-neck with New

Democracy in the last pre-election poll, has vowed toscrap the bailout program,nationalize banks, stop privati-zations and freeze any austeri-ty measures demanded byinternational lenders. He hasnevertheless vowed to keepGreece in the euro zone.

“Where has it ever beenheard that the annihilation ofa people and the dissolution ofa country is a condition forparticipation in the euro[zone],” thundered Mr Tsiprasat a pre-election rally inresponse to German Chancel-lor Angela Merkel’s warningsthat Greece must fulfill all itscommitments as a conditionfor remaining in Europe’s cur-rency union. He dismissed herstatements as “scaremonger-ing.”

Mr Tsipras says he can getmore favorable terms forGreece from its internationallenders, since Europe’s deci-sion-makers will shy away

from risking the havoc that a“Grexit” would cause to thecontinent’s economy.

If Greece eventuallyreneges on its deficit-cuttingpromises, the EU and IMFcould refuse to release therest of the financial aidAthens had been scheduledto receive. That could leaveGreece unable to service itsdebts or pay public employ-ees. Most analysts believesuch a scenario would lead toGreece leaving the eurozone, though it is not clearhow such a process would behandled.

Arguably the worst sce-nario would see another hungparliament, with the partiesagain unable to create a gov-erning coalition. This wouldmean a new, third round ofelections in the fall and contin-uing political and economicuncertainty for Greeks – andthe rest of the world.

RReemmii AAddeekkooyyaa

z∏.5.66 blnwas the total net profit for Poland’s banking sector in

the first four months of 2012, 14.2% higher than in thecorresponding period of last year.

62%of Poles believe the government should block Russianinvestors’ attempts to control businesses in Poland, a

survey found last week.

z∏.1,600will be the new monthly minimum wage in Poland

starting next year, according to a governmentproposal.

3.6%was Poland’s inflation rate in May. The figure came in

lower than analysts had expected.

“I propose that every year on June 12, [Polandand Russia] play a friendly match”

Advisor to Russian President Vladimir Putin, Michai∏ Fiedotow came to Polandafter violent incidents between Polish hooligans and Russian fans on June 12.He suggested Poland and Russia should make this date go down in the history ofboth countries as a day of sport, not of conflict.

Quote of the Week

Strolling around MuranówIf ever there was a microcosm of modern Warsaw,then Muranów is it: ugly on the outside, but some-thing special on the inside. Follow WBJ’s sister publi-cation Warsaw Insider as it takes you through thisintriguing area of the city.

On WBJ.pl

Numbers in the News

Company index

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JUNE20 POLAND-US BUSINESS SUMMITEvent: This event will look at the business opportu-

nities for Polish-American Economic Cooper-ation in 2012 and beyond. Special guestspeakers include Deputy Prime Minister andMinister of Economy of Poland WaldemarPawlak and US Acting Secretary of Com-merce Rebecca M. Blank.

Location: Copernicus Science Center, WarsawWeb: summit2012.pl

JULY14 RENDEZ-VOUS WITH FRANCEEvent: A new way of celebrating July 14. On that

day supporters of France, inhabitants of thecapital and tourists will come to Saska K´pa.It should be a great opportunity to promote

the French presence in Poland, and tostrengthen the image of companies.

Place: Saska K´paWeb: ccifp.pl

15 NAC VII SUPERFINAŁEvent: The championship of the top league of

Poland’s American football association,known as NAC the NAC 7th Superfinal, willpit the country’s two best teams from thisup-and-coming sport against each other –and in the National Stadium in Warsaw noless. There will be several activities duringthe day leading up to the final, which is setto be a family friendly affair, with plenty forthe kids to do.

Place: National Stadium, WarsawWeb: superfinal.pl

June/July

DATELINE

The Greek electionsIN THE SPOTLIGHT

Figures in focus

Room at the innNet occupancy rates of bedrooms in hotels and similarestablishments (%), February 2012, selected EU27 countries

Source: Eurostat

Alexis Tipras


Euro 2012 violence

PPoolliisshh,, RRuussssiiaann hhoooolliiggaannss bbrraawwll iinn WWaarrssaaww

Violence erupted betweengroups of Polish and Russianhooligans last week in the run-up to the two countries’ matchin the group stage of the Euro2012 soccer tournament.Police detained 184 people as

a result of the scuffles, forwhich a march by Russian fansthrough Warsaw became aflashpoint.

The Russian march wasmeant to celebrate RussiaDay, July 12, the day on whichthe match was held. But ten-sions were high in anticipationof the event, with worries thatPolish hooligans would takethe opportunity to make trou-ble.

Make trouble they did, withboth the local and internation-al media replaying the brawlsin their television reports. Andthough the police did have toresort to water cannons andtear gas in a limited number of

incidents, it was generallyagreed that for the most part,the hooligans on both sidesdidn’t manage to ruin the fes-tive atmosphere.

The game itself went offwithout a hitch – with the largecontingent of Russian fanseven unfurling a giant flag witha sword-wielding warrior andthe words “This is Russia.”There was no violence report-ed during the match, which

ended in a 1-1 draw.In anticipation of the vio-

lence, Warsaw dispatched6,000 police officers ahead ofthe match. Among thosearrested were 156 Poles, 25Russians, and one person eachfrom Algeria, Hungary andSpain.

As WBJ went to press, theWarsaw District Court hadissued 49 convictions againstthe hooligans. The mostsevere punishments wereprison sentences of one-and-a-half years, according to War-saw District court spokesper-son Wojciech Ma∏ek. Othersincluded suspended prisonsentences and fines. As ofpress time, the district courtwas looking into four morecases.

‘Fools’Echoing the sentiment thatthe reports of violence hadbeen overblown, Polish PrimeMinister Donald Tusk toldreporters the following daythat “we got through the nightwithout the drama some wereexpecting.”

Mr Tusk was also keen topresent the fights as isolatedevents involving marginaltroublemakers. “This wasn’tPoland and Russia battling itout in the streets, it was a fewhundred fools trying to attractattention,” he said.

Prime Minister Tusk andRussian President VladimirPutin, who spoke on thephone on June 13, both con-demned the hooligans’ behav-ior. The two leaders agreed

that “bad stadium emotionsshould not impact Polish-Russian relations,” and that“hooligans should be arrestedby the police regardless oftheir nationality,” a statementon PM Tusk’s website read.

UEFA also condemned thebehavior of the hooligans. AsWBJ went to press, UEFA offi-cials were in talks on whether topenalize the Polish FootballAssociation PZPN and its Russ-ian counterpart RFS. A deci-

sion was expected on June 27.“UEFA is in talks about

whether to punish the Russianand Polish football federa-tions, as they are partlyresponsible for their fans’aggressive behavior,” JuliuszGluski, spokesperson forUEFA in Poland told WBJ,although he declined to givefurther details on the nature ofthe potential penalties.

IIzzaabbeellaa DDeeppcczzyykk,, AAnnddrreeww KKuurreetthh

Though limited, the incidents of violencebetween the two countries’ “fans” did theirdamage in the media

Euro 2012 attendance

EEnngglliisshh ffaannss hheessiittaannttttoo vviissiitt UUkkrraaiinnee

The party seems to bein Poland, with fansless eager to headfurther east

Foreigners are flocking toPoland for Euro 2012, accord-ing to PL.2012, the officialorganizer of the tournament inPoland. During the first fourgames, 162,000 fans packedPoland’s stadiums, half ofwhom were foreigners. Thecountry’s five fan zones havewelcomed over 740,000 peo-ple. However, while ticketshave long sold out in Poland,Ukraine is having more trou-ble filling its empty seats.

Whole sections of the stadi-ums in Donetsk and Kharkivhave been noticeably emptyduring the first round of groupmatches. Thousands of ticketsstill remain to be claimed.

English fans in particular havebeen hesitant in heading eastfor the tournament.

That may be due to fearsabout safety. Just before thetournament, the BBC’s Panora-ma program aired a scathingdocumentary on racism andviolence at soccer matches inPoland and Ukraine.

“The threat of racism isone of the drivers behind thesmall number of fans expectedto attend the tournament,”admitted Kevin Miles, thehead of the Football Support-ers Federation (FSF) in Eng-land, in a press release.

Prices for tickets to Eng-land’s game against Ukraine inDonetsk on June 19 have beendropped to £14. The FSF pre-dicts that only a total of 6,000English fans will visit Ukrainefor the group matches, a

record low for a tournament ofthis caliber.

In contrast, fans from near-by Ireland have flooded intoPoland – some 30,000 Irishhave made the trip to Polishhost cities. Ticket prices forIreland’s group matches havegone up to as much as £300.

But despite warnings fromthe British Foreign Office forEnglish travelers of Asian andAfro-Caribbean descent totake special care while visitingUkraine, even many Englishacknowledge that the racismissue has been over-hyped.

“We know Ukrainians arefriendly, the sun always shinesin June, the beer is cheap andthere’s plenty to see,” wroteMark Perryman of the LondonEngland Fans Group in a blogfor ITV News.

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Empty seats have been an all-too-common sight in Ukraine

Euro 2012 security

Russian and Croat fanscause trouble in PolandRussia could bedocked six points inthe qualifying roundfor the next EuropeanChampionship,following the thuggishbehavior of some of itsfans in Wroc∏aw

Before Euro 2012 kicked offearlier in June, many worriedthat violence and racismwould rear their ugly heads inPoland, where soccer leaguesare sometimes blighted bythese twin curses.

However, with the excep-tion of clashes between Polishand Russian fans in Warsaw,fears of large-scale street orstadium violence weren’tborne out to the extent thatsome had feared.

Mainly as a result of thePolish-Russian violence, near-ly 50 sentences were handedout last week in fast-track tri-als held to convict soccerhooligans. A number weresent to jail while manyreceived suspended sentencesand fines.

Improper conduct?There have been other, isolat-ed, incidents of unsavorybehavior by fans at severalgames and host cities inPoland. In the concourse area

of Wroclaw Municipal Stadi-um, following Russia’s 4-1 winagainst the Czech Republic,dozens of Russian fansattacked four stewards, all ofwhom were taken to the hospi-tal for treatment. None sus-tained serious injuries.

UEFA has since chargedthe Russian soccer associationwith the “improper conduct”of its supporters, who werevideotaped punching and kick-ing the volunteers. During thesame match, monkey chantswere allegedly directed atCzech defender TheodorGebre Selassie. UEFA is inves-tigating the allegations. Russ-ian fans also set off and threwfireworks and displayed illicit

banners during the game. European soccer’s govern-

ing body has said it will dockRussia six points in qualifyingfor the next European Cham-pionship if its fans misbehaveagain, a suspended sentencethat the Russian soccer associ-ation has said it would appeal.

Elsewhere, Croatian soccerfans appeared in force in thecenter of Poznaƒ, paradingwith posters of Ante Gotovina,a convicted war criminal, andbanners with symbols evokingthe fascist “Ustasa” move-ment. Police, who have beendeployed in great numberthroughout Poland, monitoredevents but did not intervene.

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Police have had a heavy presence in Poland

“This wasn’t Poland and Russia battling itout in the streets, it was a few hundredfools trying to attract attention.”

Donald TuskA

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There were some ugly scenes on the streets of Warsaw


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Former Kulczyk Holding president arrested for corruptionPoland’s Central Anti-Corrup-tion Bureau (CBA) has arrest-ed Jan W., the former presi-dent of Kulczyk Holding andhead of the supervisory boardof refiner PKN Orlen, foralleged bribery during the pri-vatization of TelekomunikacjaPolska. Wojciech J., who was

also a board member at Kul-czyk Holding, was also arrestedon charges of corruption.

Both men, whose lastnames cannot be revealed forlegal reasons, are accused ofgiving bribes worth up to $1.1million during the privatizationdeal, reported Puls Biznesu.

Jan W. was released afterquestioning but will have topay bail of z∏.1.5 million. Woj-ciech J. will have to pay bail ofz∏.1 million.

From 2000 to 2001 a con-sortium comprising KulczykHolding and France Telecombought 47 percent of all shares

in Telekomunikacja Polska,then Poland’s telecomsmonopoly.

Jan W. was then the presi-dent of Kulczyk Holding,owned by Poland’s richestman, Jan Kulczyk, and laterbecame head of the superviso-ry board of oil giant PKN

Orlen on Mr Kulczyk’s recom-mendation.

In 2005, France Telecombought Kulczyk Holding’sshares in Telekomunikacja Pol-ska. The prosecutor has yet tospecify in what circumstancesthe bribery occurred.


Law and Justice

Opposition’s executive body to be ‘purged’?PiS leader Jaros∏awKaczyƒski may belooking to consolidatehis power within thepartyLaw and Justice’s (PiS) politi-cal committee, the party’shighest organ, will likely seeits membership reduced tojust a few personnel belongingto leader Jaros∏aw Kaczyƒski’sinner circle, reported the Pol-ish Press Agency (PAP). Amember of the committeereportedly told PAP that MrKaczyƒski had recently pre-sented such a proposal to PiSMPs and senators.

“Kaczyƒski explained thatinformation from the commit-tee’s meetings was beingleaked, a situation whichcould not continue. He said hewas seriously considering

changes in the committee’smake-up,” PAP cites theanonymous PiS politician assaying.

He also added that “a reduc-tion in the membership of thecommittee is very possible, butthere is also a possible scenariowhich would involve wateringdown the committee’s powers.The committee could changehow it functions, regional lead-ers would be let in and it wouldbecome a charade.”

When Mr Kaczyƒski wasasked at a press conferenceabout the possibilities ofchange in the political commit-tee, he said he “wouldn’t expecta revolution.”

There are currently 29politicians in PiS’s politicalcommittee. Up until now, thetrend had been to increase thecommittee’s membership ra-

ther than to reduce it.Mr Kaczyƒski has often

been accused of running his

party in an authoritarianfashion. A decision by him toweaken his party’s highest

executive organ would likelystrengthen that perception.

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SJaros∏aw Kaczyƒski has often been accused of keeping an iron grip on the party reins

Euro doesn’t

boost ad

market

Experts say that Euro

2012 hasn’t brought the

huge upsurge in

advertising they had been

expecting. A day before

the tournament, TVP,

which is carrying the

games, still had air time

to sell, although not for

the period before the

opening game between

Poland and Greece. The

reasons advertisers are

not using the promotional

advantages of Euro 2012

in greater numbers

include the high price of

ads and concerns about

the economic situation in

the euro zone.

Euro teams

spend big

The 13 teams that are

staying in Poland during

Euro 2012 pay a total of

€227,000 a day for

accommodation in or

near the host cities,

Rzeczpospolita reported.

Portugal, residing in the

Remes resort located in

Opalenica near Poznaƒ,

pays the highest rate, as

booking the entire

complex for a day costs

€33,000. ●

JUNE 18-24, 2012 FFIINNAANNCCEE && EECCOONNOOMMIICCSS www.wbj.pl 7

Prices

Inflation slower than expected,but Euro could push it back upFood and fuel priceswere lower thanexpected in May, butinflation could remainhigh for the rest of theyear

Poland’s inflation rate took asignificant drop in May, to 3.6percent year-on-year, downfrom the 4 percent seen inApril. While most economistswere expecting the inflationfigures to come in lower thanthey had in April, the numbersstill surprised on the downside.

The main reason for thedrop were food prices, whichgrew at a weaker rate than lastyear, and fuel prices, whichdeclined. Prices in the cate-gories “clothing and footwear”and “recreation and culture”also dropped.

“Such an inflation break-down confirms that monetarytightening should not be oncards. Still, we expect the infla-tion rate to climb to around 4percent in June and to main-tain close to this level for acouple of months,” said ana-

lysts at BZ WBK.Analysts at Citi Handlowy

agreed that inflation was likelyto rise to around 4 percent inthe near term, and said thatinflation should fall to the cen-tral bank’s target of 2.5 per-cent only in the first half ofnext year.

Euro to push pricesback up? Part of the reason behindinflation staying close to the 4percent level could be the

European soccer champi-onships, which have seenprices surge for everythingfrom restaurant food to hotelrooms.

By the time it’s over,Poland’s Sports Ministry esti-mates the event could havedrawn as many as 800,000 fans.And as businesses raise pricesto capitalize it could push upinflation, and, some analystssay, cloud the outlook forinterest rates.

AAKK

Governmentbacks minimum-wage risePrime Minister Donald Tuskhas said his government is sup-porting the Labor Ministry’sproposal to increase Poland’sminimum wage from z∏.1,500to z∏.1,600 from 2013.

The 6.7 percent increase inminimum wage will exceed theinflation rate, which the gov-ernment predicts will come inat 2.7 percent next year.

The decision to increase theminimum wage has been madealongside government state-ments pushing for tighter budg-etary discipline in 2013, despitea relatively optimistic 2.9 per-cent projection in GDP growth.

The government raised theminimum wage starting at thebeginning of 2012 as well, by8.2 percent, one of the highest

rises in the EU. Only Hungary(19.2 percent) and Bulgaria(12.5 percent) – saw greaterincreases.

However, Poland still hasone of the lowest minimum-wage rates in the EU. As ofpress time, z∏.1,500 came toaround €347, while z∏.1,600equaled about €370.

AAAA,, AAKK

Most Poles against foreignownership of Polish firmsAccording to a survey con-ducted by newspaper PulsBiznesu, most Poles do notwant foreign investors tohold stakes in Polish compa-nies, especially in the energysector. Still, EU investors arefavored over their Russiancounterparts. Some 62 per-cent of Poles believe the gov-ernment should block Russ-ian investors’ attempts tocontrol businesses in Poland.Only 19 percent of the sur-vey’s participants supported

unlimited Russian invest-ments in the country. Oppo-sition to Russian investmentswas prevalent across thesocial spectrum, regardless ofage, education and career.

“Poles still perceive Russ-ian capital as a threat, as it maybe linked to politics. They arepartially right, since manybusiness decisions in Russia dohave to receive the Kremlin’sapproval,” said SebastianMikosz, former deputy chair-man of the Polish Information

and Foreign InvestmentAgency.

“It is worth pointing out,however, that many Russianbusinesses have been operat-ing independently for years. Inthe past, Poles used to fearGerman investments for thesame reasons, and this haschanged now,” he added.

Apart from the energy sec-tor, Poles also fear Russianencroachment in the mining,banking and chemical sectors.

AASS

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2.7

3.1

3.5

3.9

4.3

4.7

5.1

5.5

MayApril

March

Februa

ryJan

uary

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berAug

ustJulyJune

MayApril

March

Februa

ryJan

uary

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November

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berAug

ustJulyJune

2010 2011 2012

Above target Poland’s consumer price index inflation rate (which hasremained above the NBP’s 2.5 percent target for some 20months), June 2010-May 2012 (%)

So

urc

e:

Ce

ntr

al

Sta

tisti

ca

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EU funds

FFrroomm iinnffrraassttrruuccttuurree ttoo iinnnnoovvaattiioonnThe Ministry ofRegionalDevelopment wants tochange where thebulk of EU funds go

The Ministry of RegionalDevelopment, the organ incharge of disbursing EU fundsin Poland, wants to boost

spending on innovation withthe funds that will comePoland’s way from the EU’snext seven-year budget, cover-ing the years 2014 to 2020.

The ministry has publishedits proposals for how to use thefunding, and says it wants a“big increase” in spending oninnovation and supporting thetransition to a low-carbon

economy. The ministry is alsoproposing a boost in fundssupporting employment andlabor mobility. In return, itwants to reduce the share offunding currently goingtowards infrastructure.

For the current, 2007-2013budgetary period, Polanddevoted 13.67 percent of itsEU funds to innovation and

2.02 percent to transitioning toa carbon-free economy. Thefigures should be much higherover the next budgetary peri-od, the ministry says.

Meanwhile, the ministrywants a “big decrease” ininfrastructure spending, whichswallowed 38.52 percent of thefunds in the current budgetaryperiod.

The Ministry of RegionalDevelopment’s proposals havebeen sent to Poland’s otherministries and its voivodshipauthorities in order to open anational debate on the issue.

The Ministry also says itbelieves that having a precisebudget-spending plan will helpPoland in the ongoing negotia-tions over the 2014-2020 budg-

et and the future functioningof the cohesion policy.

The ministry has also pro-posed giving more authorityfor distributing EU funds toregional authorities. By decen-tralizing the disbursement sys-tem, the ministry says, author-ities would be able to dole outmore funds.


JUNE 18-24, 20128 www.wbj.pl BBUUSSIINNEESSSS

Contact: Miros∏aw Stefanik

[email protected]

Legal News

BROUGHT TO YOU BY PETER NIELSEN & PARTNERS LAW OFFICE

Entries in passports concerning kids lose validity From June 26, children who until nowcould cross borders based on the entry intheir parents’ passports will have to havetheir own traveling document (their ownpassport or identity card). This amend-ment concerns only children who wereentered into their parents’ passportsbefore August 28, 2006. Since that time,the “one person, one passport” rule hasbeen applicable, meaning it was no longerlegally possible to enter a child into a par-ent’s passport. The expiry of validity ofentries concerning kids in their parents’passports results from the standpoint ofthe European Commission with regard topassports and traveling documentsissued by EU member countries. Theexpiry of validity of entries concerning chil-dren in their parents’ passports does notaffect the expiration date of the docu-ment.

Definite-period tenancyagreements to be terminatedmore easily From May 3 amendments to some of theprovisions of the Civil Procedure Codehave come into force. This includes theprovisions concerning the enforcementfrom real properties.

When a property is purchased in an

enforcement auction, the new owner canterminate a tenancy agreement (as longas it is for a period of longer than twoyears) within a month of the propertybeing officially granted to that new owner.The termination notice should be deliv-ered with a one-year notice period, unlessthe agreement stipulates a shorter period.

This is possible even if the agreementwas concluded in written form and with acertified date (i.e. certified by a notarypublic) and the real property has beenissued to the tenant or lessor. Until now anew owner of any property purchased byway of enforcement proceedings couldnot have terminated the tenancy agree-ment for a definite period if it had beenconcluded in writing with a certified dateand the premises had been issued to thetenant before the purchase.

Minimum wage set to reachz∏.1,600 next yearThe government will present a motion tothe Tripartite Commission for Social andCommercial Matters to raise the minimummonthly remuneration next year toz∏.1,600. Currently, the minimum monthlyremuneration amounts to z∏.1,500. Theamount would constitute 42.5 percent ofthe average monthly remuneration(z∏.3,765) as forecasted by the Ministry ofFinance for this year. ●

Chemicals

TTrreeaassuurryy ssttiillll hhoollddiinngg oouutt oonn AAccrroonnThe Russian firm hasoffered z∏.1.5 billionfor Azoty Tarnów, andpledges to keep its bidalive

Russian chemical giant Acronhas said it will continue its bidto acquire Polish chemicalsfirm Azoty Tarnów despitebeing rebuffed by Poland’sState Treasury, which owns a32 percent stake.

Azoty Tarnów has been putup for sale as part of the Trea-sury Ministry’s privatizationplan for 2012-2013, throughwhich it aims to raise a total of

z∏.15 billion. Acron is currentlyoffering z∏.1.5 billion for thechemical company, but lastweek the Treasury said itwould not sell its stake, sayingdoing so would endanger thecompany’s strategy and limitthe value of other Polishchemical firms.

Instead, the Treasury islooking for counter-bidders.Polish business daily Parkietreported that one of the candi-dates is German group PCC,owner of PCC Rokita, thelargest chemical firm in theLower Silesia region. Chemi-cal firm Synthos, controlled bybusinessman Micha∏ So∏owow,

China’s Nuctech ready for further investments in PolandChinese firm Nuctech, a lead-ing manufacturer of securityinspection products and radia-tion imaging technology, hassent representatives to Polandto discuss plans to build a newproduction plant in the country.

The representatives willmeet with Deputy Prime Min-ister Waldemar Pawlak to dis-

cuss a location for the plannedplant, Puls Biznesu reported.

During their last visit inMarch, the company’s repre-sentatives visited several loca-tions, including Lublin,Kraków and Che∏m.

Nuctech has maintained anoffice in Warsaw since 2004.Two years ago, the company

opened a €25 million plant inKoby∏ce, on the outskirts ofthe capital. The plant current-ly employs 30 people.

Nuctech’s next investmentin Poland will be much bigger,as the Chinese company ishoping to employ 200-300workers in the new plant.

SSRR

Media and entertainment

Polish media market to see rapid growth through 2016Only Latin Americawill see faster growthin the digital mediamarket, according to anew report

Poland’s media and entertain-ment market is to grow fasterthan Western Europe’s over thenext four years, according tonew data from consultancy firmPwC. The firm’s “Global Enter-tainment and Media Outlook2012-2016” forecasts a 4.9 per-cent compound annual growthrate for Poland, compared to3.1 percent for WesternEurope.

In Poland, this should trans-late into the segment’s value ris-ing from $10.3 billion this yearto $12.7 billion in 2016. PwCforecasts the global entertain-ment sector will be worth $2.1trillion in 2016.

The media and entertain-ment market will continue todevelop regardless of globaleconomic uncertainty, accord-ing to Tomasz Prucnal, managerat PwC in strategy and opera-tions consulting, responsible fordigital technologies.

Growth in the sector willcome mostly on the back of thedevelopment and increasedavailability of mobile technolo-gy, as well as increased spend-ing on internet advertisements,

according to Mr Prucnal.In Poland, spending on

internet advertising is set to sur-pass television advertisingexpenditures by 2016. That’s allthe more revealing consideringthat currently Poland spends acomparatively larger portion ofadvertising on TV than manyEuropean countries, Mr Pruc-nal said.

But it is Poland’s digitalmedia sector that will be at theforefront of its booming mediamarket, as PwC forecasts it tosee the second-largest growth inthe world over the next fouryears. Latin America’s digitalmarket should experience agrowth of 30 percent by 2016,making it the fastest growingglobally. Poland’s is expected to

grow by 26 percent in the sameperiod.

“Poles always liked techno-logical novelties. Much more sothan in Western Europe whereconsumers are more traditionalin their approach to technolo-gy,” said Mr Prucnal.

As categories such as musicand books move increasinglyfrom more expensive physicaldistribution, onto cheapermobile and digital distribution,consumer spending is set to seeonly moderate growth. PwCexpects Polish consumers’spending on media and enter-tainment until 2016 to grow by2.9 percent, compared to com-pound GDP growth of 5.8 per-cent.

IIzzaabbeellaa DDeeppcczzyykk

Euro 2012

boosts TV salesAccording to

Euromonitor

International, television

sales in Poland increased

by 18% year-on-year in

April. Experts say this is

the result of Poles

preparing to watch the

Euro 2012 soccer

championships, which

Poland is currently co-

hosting. Similar and

possibly even better

results are expected for

May, when fans were

thought to have raced to

prepare to watch the

tournament.

Polish foreign

investment

risingAt the end of 2011 the

estimated value of

accumulated Polish

investments abroad

came close to $44 billion

– around $5 billion more

than a year earlier,

Parkiet reported.

According to the Institute

for Market, Consumption

and Business Cycles

Research (IBRKiK) the

accumulated value of

capital invested abroad

this year may rise by $6

billion, despite the

economic slowdown. ●

0

2

4

6

8

10

12

Wester

n Euro

pe

United

King

dom

Russi

a

Poland

German

y

Franc

e

Czech R

epub

lic

Austr

ia

Media orientedForecast compound annual growth rate for the entertainmentand media market, selected countries

Source: PwC

in a consortium with energyconcerns PGNiG and PKNOrlen, was also listed as apotential buyer, although ana-lysts see that as an unlikelyscenario.

The newspaper also report-ed that firms such as Ger-many’s BASF, Norwegian-based Yara International, Chi-nese groups Hubei YihuaChemical and ChinaBlueChemical, Pakistan’s Fati-ma Group, Turkey’s NurolHolding and Saudi Arabia’sSABIC could be interested.However, it is not yet knownwhich, if any, of these poten-

tial candidates will submit anoffer.

There has been speculationthat the Treasury Ministry’srejection of Acron’s bid couldbe politically motivated.Poland and Russia share atroubled history, and Poles arewary of Russian firms enteringthe Polish market.

A study by business dailyPuls Biznesu recently foundthat 62 percent of Poles wantthe government to block Russ-ian attempts to gain control ofPolish businesses, especially inthe energy, mining, and chem-ical sectors.

However, analysts say thatthe Treasury’s unwillingness tosell its stake stems from finan-cial, rather than political con-cerns.

“I don’t think it’s politicallymotivated,” said KonradAnuszkiewicz, analyst atIpopema Securities. “TheTreasury is hoping for a higherbid, and will wait for Acron toincrease its offer.”

Acron is currently offeringz∏.36 per share. Analystsbelieve that a bid of z∏.45 pershare may persuade the gov-ernment to accept Acron’s bid.

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The Treasury is hoping for a higher bid for Azoty

Tarnów, analysts say

JUNE 18-24, 2012 BBUUSSIINNEESSSS www.wbj.pl 9

Euro 2012 and business

AAnn eeccoonnoommiicc oowwnn ggooaall??

Despite high hopes forincreased earnings,not all businesses inthe Polish capital sayEuro 2012 is scoringthem profits

A number of businesses inWarsaw that had hoped to seetakings soar during Euro 2012have instead met with unex-pected profit slumps and a sur-prisingly negative outlook forthe upcoming weeks.

A restaurant owner whopreferred not to be namedexplained that many of his reg-ular customers had left War-saw to avoid the commotionassociated with the tourna-ment. Meanwhile, incomingtourists appear to be moreinclined to gather in the War-saw Fan Zone with fellow sup-porters than in restaurants,even in the periods betweenmatches.

The Warsaw Fan Zone, anarea designated for soccer fanswho want to experience thefervor and excitement of thetournament, is situated onWarsaw’s P∏ac Defilad, next tothe Palace of Culture andScience. It includes severallarge TV screens, a VIP media

zone and a number of bars andfood outlets.

The zone accommodatedover 150,000 fans during thePoland-Russia match on June12, according to PL.2012, theorganizers of the Euro 2012championship in Poland.

UEFA takeoverPermanent businesses – includ-ing a movie theater, museumsand cafes – located in the areataken over by the Fan Zone saythat the large number of fans isnot necessarily translating intohigher profits.

Mariusz Krasowski, a man-agement representative ofKinoteka Multiplex, a cinemalocated in the Palace of Cul-ture, said that the area immedi-ately outside of Kinoteka,which includes a cafe and park-ing spaces, has been “entirely”taken over by UEFA. “We areplanning to seek compensationfrom them but it doesn’t seempossible.”

“We have had to delayopening the movie theater until2 pm as few people are willingto go to watch a movie in theFan Zone. Unfortunately, wewill be seeing limited profitsuntil the crowds leave,” headded.

Restaurants struggleBut negative effects are notlimited to businesses in the FanZone, since fans have littleincentive to look for alterna-tives to the wide range ofamenities offered there.

Milena Machczyƒska, PRmanager for Belvedere, a high-end Warsaw restaurant, saidthat Euro 2012 is “destroying”their business. Both individualcustomers and groups havedeclined in number since thestart of the tournament, shesaid.

According to Ms Mach-czyƒska, fast-food restaurantsmight be reaping higher prof-its at the moment, but touristsvisiting Poland in the latterstages of the tournamentmight turn to restaurants likeBelvedere.

Some businesses arecounting on the fact that thehectic atmosphere may be aturn-off for many. Cities suchas Zakopane and Olsztyn, forexample, are trying to attracttourists by marketing them-selves as being Euro 2012-free, believing that the breakthey offer from the tourna-ment is a big draw for soccer-weary Poles and tourists.

AAnntthhoonnyy AAddaammss

Slow progress on shale gas taxPoland’s Ministry of Environ-ment last week postponed theunveiling of a new proposal totax hydrocarbons, an impor-tant step in the developmentof the country’s emergingshale gas industry.

The first draft was sched-uled to be made public inApril, with Deputy Environ-ment Minister Piotr Woêniaksaying that changes to the lawgoverning hydrocarbon extrac-tion are “necessary to improveconditions for investment.”

Experts agree that taxationis a major issue on which clearanswers are needed so that the18 companies prospecting on

over a hundred concessionsacross Poland continue toinvest in this capital-intensiveventure.

Neil Pozak, finance directorat Talisman Energy Poland, saidthat in his opinion, some itemsin the current regime could beadjusted in order to improveconditions for investment.

“Experience shows us thatchanges to a tax regime canhave a significant impact onindustry activity. Consequently,any such changes should becarefully considered and con-sulted with industry. We wouldbe pleased to have consultationwith the government,” he said.

“For now we continue tofollow our previouslyapproved exploration plan, butwill have a decision to make inthe near future. We are keento see modernization of theregulatory framework. Webelieve that a more efficientprocess for the permitting andconstruction of drilling opera-tions will be a prerequisite toshale gas development.”

The Ministry of Environ-ment did not respond to WBJ’srequests for informationregarding the reasons behindthe delay in unveiling the newdraft law.

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CO

UR

TE

SY O

F A

DA

M K

LIC

ZE

K /

WIK

IPE

DIA

Warsaw’s Fan Zone has accommodated as many as 150,000 fans

EBRD pushes forlocal private equityinitiative in PolandPoland could use its local debtcapital market as a bufferagainst the economic woes thatare plaguing Europe, accordingto Lucyna Stanczak, directorfor Poland at the EuropeanBank for Reconstruction andDevelopment (EBRD).

The bank, whose mission isto promote the development oflocal capital markets, is there-fore looking to engage localinstitutional investors such aspension funds, mutual fundsand insurance companies thatwould be “natural partners” increating an investment fund.

“As a result of the financialcrisis the appetite of privateequity has diminished, andlarge countries like Poland, withimportant internal demand andlocal financial infrastructurelike the Warsaw Stock Ex-

change, pension funds andinsurance companies, couldprovide an important alterna-tive to international funding orFDI inflow,” said Ms Stanczak.

The EBRD sees insurancegiant PZU as an important can-didate in such a project, shesaid. However, no specificarrangement has been made sofar with any potential partner,said Ms Stanczak. The view offinancial regulators would alsoneed to be taken into accountwhen it comes to getting pen-sion funds involved.

“It is too early to make astatement about any nationalfund. We are in the early stageof dialogue. I would expectsomething may materializewithin the coming year or 18months.”

AAlliiccee TTrruuddeellllee

The EBRD in Poland

Number of projects 299

Net business volume €5.5 billion

Total project value €28.7 billion

Gross disbursements €4.9 billion

Portfolio in private sector 89%Source: EBRD

Poles distrust

mediaThe European Trusted

Brands 2012 study

conducted by Reader’s

Digest indicates that

Poles have little faith in

media outlets. Over 60%

of those surveyed said

they don’t believe the

information they get from

the media. Only 37% said

they trust what they hear

on the radio or watch on

TV. Meanwhile 56%

indicated they believe

online content is more

trustworthy, higher than

the European average of

45%. Some 32% of Poles

surveyed said they

distrust journalists.

Moody’s praise

for pension

reformPoland’s pension reform,

which raises the

retirement age to 67 for

both men and women,

shows commitment to

structural improvements,

ratings agency Moody’s

said in a report last week.

The legislation highlights

the government’s

commitment to achieve

sustainable economic

development and fiscal

integrity, the report

said. ●

JUNE 18-24, 201210 www.wbj.pl IINNTTEERRVVIIEEWW

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Ewa Boniecka: In a recent opin-ion poll on the level of confi-dence in politicians, you camein second after President Bro-nis∏aw Komorowski, and aheadof others such as Prime Minis-ter Donald Tusk and ForeignMinister Rados∏aw Sikorski.How do you plan to use this per-sonal capital to help your party,SLD?Ryszard Kalisz: I think that mystanding in confidence polls,which of course I appreciate, islinked to the fact that the partyI represent has recently gainedmore support. As a politician ofthe left I am consistent in myactions and ideas and I expressmy views in my own way,regardless of the circumstances.I suppose this has helped buildconfidence in me as a person.

To answer your questiondirectly, I don’t have any partic-ular plans to use my personal“confidence capital.” I will actas usual, trying to improve the

standards of our political andpublic life.

You are very critical about theway in which all of Poland’smajor political parties function.Why is that?In my opinion the Polish politi-cal system, including the partysystem, is not in its final state.Over two decades after thepolitical and economic transfor-mation of our country, we arestill in the process of shapingthe political system.

The situation in our estab-lished parties raises many ques-tions about their future. CivicPlatform (PO) is in the processof disintegrating, Law and Jus-tice (PiS) puts itself in a cornerwith its nationalistic and xeno-phobic ideas, and the PolishPeople’s Party (PSL) focusessolely on the interests of therural population.

Even though SLD gainedcredit for helping to shape the

Third Republic and build a law-ful, democratic state, we havebecome a tired and worn-outparty, lacking dynamism andthe ability to regain the confi-dence of larger groups of votersand communicate with theyounger generations.

Janusz Palikot and hisPalikot’s Movement party aredevoid of political seriousness.So we are in a kind of politicallimbo, where the political scenelacks a party that is able to fullyrespond to the expectations ofPoles and generate confidence

in the political class, which isnow generally seen in a verycritical light.

Do you see any brighterprospects on the horizon?If I see some brighter prospectsit is because I predict that our

political scene will evolve. Thefinancial crisis in the EuropeanUnion is affecting our econo-my, the unemployment rate ishigh and the situation of certainlarge groups of society is wors-ening. People are worried abouttheir future and disillusioned

Ryszard Kalisz, an important figure of thePolish left, talks to WBJ about the shortcomingsof Poland’s political parties, the necessity ofmaking the Democratic Left Alliance (SLD)more ideologically inclusive and the dilemmasand hopes of the left in Europe

The Polish left

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HU

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OC

K

Mr Kalisz believes the wind is blowing in favor of the left in Poland

JUNE 18-24, 2012 IINNTTEERRVVIIEEWW www.wbj.pl 11

with the government, while thewar between the parties of theright – PO and PiS – is becom-ing more and more tiresome forthe majority of Poles. They arelooking for some fresh air to beblown into a stagnant politicalscene and for a new approachtowards their problems.

And it’s here that I see roomfor building a center-left forma-tion. It will require a deepanalysis of what kind of alterna-tive the left can offer, how tobuild an open party that putsthe interests of voters above theinterests of party structures andthe ambitions of party leaders.

I am working to make SLDthat kind of party, and while Iam critical about some of MrPalikot’s activities, I think thatthe ongoing battle betweenSLD and Palikot’s Movementdoes not make sense, is dys-functional and has a mostlyemotional and personal charac-ter. What is most important isthat the battle is alienating theleft and center-left and is harm-ing our chances of strengthen-ing the left and reversing theconservative trend prevailing inPoland since 2005.

You are seen as being someonewho acts on his own, despiterecently being elected to SLD’snational committee. How canyou convince your party toreform itself internally and pur-sue your idea of building a cen-ter-left formation?I am a free man of the left whodoes not think he must followthe narrow tactical interests ofthe party. But I constantly act topromote and support SLDadopting a shape that wouldallow it to realize my idea ofopening it up to new groups ofpeople, because I am deeplyconvinced that left and center-left ideas are shared by millionsof Poles.

But for me the party cannotexist for the sake of itself. I sayto my colleagues: let’s do every-thing to rebuild and reviveSLD, yet if we come to the con-clusion that we have reached abarrier we cannot cross, let’snot be afraid to search for othersolutions.

S∏awomir Sierakowski, a sociol-ogist and proponent of leftistviews, wrote recently that Polishparties are not divided into leftand right but into “right and

wrong,” and that until Polandproduces a competent left, therewill not be a competent right.Do you agree with his opinions?Things are much more compli-cated than Mr Sierakowski isclaiming. I value him and hisactivity highly, but he is a theo-retician, who follows somethingof a doctrine, and looks at theleft from an intellectual point ofview and not from a down-to-earth perspective.

I agree with him that sharpdivisions between left and righton many issues are diminishingin Poland and in Europe. Butthe additional problem inPoland is that the political divi-sions are generated by spread-ing hate and some conflicts arecreated intentionally by someparties. This has a general nega-tive effect on our political,social, cultural and economicrelations.

In my opinion there are noleaders in Poland and Europewith the long-term politicalvision or charisma that wouldenable them to mobilize theirnations and the whole EuropeanUnion to undertake ambitiousefforts to build a better future. Ihope that there are Polish politi-cians among the younger gener-ation with the charisma of [for-mer President] AleksanderKwaÊniewski who will emerge inthe future.

SLD reacted with joy at the victo-ry of socialist Francois Hollandein the French presidential elec-tion, and many are saying thatthe wind is blowing in favor of theleft in Europe. Does this give riseto optimism on the Polish left?Yes, the wind is blowing in favorof the left in Europe and Iobserve this same trend inPoland. Hollande’s victory is avery important event for all left-ist parties and also poses thequestion of how leftist partiesplan to deal with the presentfinancial crisis. We face theglobalization of capital and thegrowing role of capital marketsand financial institutions, whilethe rightist parties try to pushthe cost of fighting the crisis

onto ordinary people.I agree with President Hol-

lande, as does my party, that thestabilization of finances inEuropean countries should beachieved not solely by imposingsevere restrictions on states, butby a policy of stimulating eco-nomic growth. I think that MrHollande’s idea of emittingeuro bonds is right and Polandshould support it.

Why is SLD against reformingthe retirement system? Wouldyou throw that act out shouldyou regain power?We are not against increasingthe retirement age, we areagainst forcing men, and espe-cially women, to work till 67.The retirement system costs acertain amount of money and itis possible to reduce that by pro-longing the working period, butit is also possible to raise theamount of money coming in byreducing unemployment andraising economic growth. Onlyafter those two goals have beenachieved successfully should weevaluate by how much theretirement age should be raised.

The government did notconduct such an analysis andinstead just forced the billthrough. SLD is not talking likePiS about throwing the bill tothe trash when they obtainpower, we are talking aboutrationalizing the whole retire-ment system. I do not imaginemyself that we would force allmen and women to work till 67.

What is the state of proceedingsconcerning your motion to putformer Prime MinisterJaros∏aw Kaczyƒski and formerJustice Minister Zbigniew Zio-bro before the State Tribunalfor abuse of power?This motion is very important,because it concerns the respon-sibility of the people who previ-ously held the most importantpositions in the state and, in myopinion, their actions violatedthe constitution’s provisions. Itis not a matter of any possiblerepercussions, because theState Tribunal deals only withconstitutional responsibility. Itis first of all a problem of politi-cal prevention for the futureand of setting proper standardsfor the highest state functionar-ies to act according to the con-stitution.

And in my opinion there is abig chance that this motion willproceed. I am in contact withpeople from PO and a com-mon motion is being prepared....Yet Civic Platform is con-stantly postponing the openingof procedures, because [PrimeMinister] Donald Tusk is afraid– in my opinion totally withoutreason – that it could be seen asrepression of PO’s politicalopponents. Nevertheless, I amconvinced that after some timehe will allow that motion to beforwarded to the Sejm, becauseby postponing the accountabili-ty process for the abuses of[power] … Civic Platform isacting against its own interestsand those of the public. ●

Biography

Ryszard Kalisz was born in 1957 in Warsaw. He has been amember of the Polish parliament since 2001 within theDemocratic Left Alliance party. He was the Minister ofInternal Affairs and Administration from 2004 to 2005.Prior to that, he was the head of President AlexanderKwaÊniewski’s chancellery from 1998 to 2000.

His leftist politics can be traced back to his early politicalparticipation in the Socialist Union of Polish Students andlater the Polish United Worker’s Party until it was dissolvedin 1990. He was one of the founding members of the Demo-cratic Left Alliance in 1999.

Mr Kalisz has a legal background with a degree in lawfrom the University of Warsaw. ●

“Poland is in political

limbo”

Although trade numbers failto reflect it, American in-vestors are well aware thatPoland provides a greatfoothold for further invest-ments in Europe. As a matterof fact, they are continuing toinvest despite a financial crisisthat led to a massive drop-offin US business activity inPoland in 2009.

The service outsourcingsector, which has seencountinuous growth on theback of strong US investment,is a perfect example. Ameri-can giants are also moving fastto take advantage of thepotentially lucrative energy

contracts being signed as aresult of Poland’s foray intonuclear and shale gas.

But much more can bedone, argue the organizers ofthe US-Poland Business Sum-mit, which brings together thekey players in US-Polish busi-ness in Warsaw this week.

Gateway to EuropeFew would downplay how farPoland has come in the past 20years. Richard Lada, vicechairman of the AmericanChamber of Commerce inPoland, is among those whowitnessed and helped bringabout change in Poland.

Having moved from Califor-nia to Poland in the early 1990s,Mr Lada, after a few years withApple Computers, came tohead Motorola in Poland, andeventually for all of CEE. He

speaks with enthusiasm whendescribing Poland, citing thecountry’s comparatively lowlabor costs, Poles’ strong lan-guage skills, and a well-educat-ed youth that excels in “break-through thinking.’’ All of thishas led Poland to become the“gateway to the rest of Europe,”according to Mr Lada.

And that’s exactly how hepresents the country to would-be investors. “Poland is theright place to invest in theEuropean Union in order totake advantage of the country’s

cost-effectiveness, and its well-educated labor force,” he said.

A recent report by JosephQuinlan from Johns HopkinsUniversity and the GermanMarshall Fund of the UnitedStates found that Europeaccounted for over half (53percent) of total US foreignaffiliate income in 2011. With

a $15 trillion GDP and over500 million consumers, Amer-ican companies cannot ignorethe largest and wealthiest eco-nomic bloc in the world.Therefore, notwithstandingthe debt crisis plaguing severalEU members, Europe stillmatters greatly, and by exten-sion, so does Poland.

Service, service, serviceInvestors looking to Europeare starting to get the messagethat Poland is all about loca-tion, location, location. Onesector that is benefiting is theservice outsourcing industry.

In “The next level: Polish-American economic coopera-tion 2012 and beyond,” arecent report prepared jointlyby the American Chamber ofCommerce, the Polish Con-federation of Private Employ-ers Lewiatan, and the US-Poland Business Council forthe US-Poland Business Sum-mit, out of the 282 businessservice centers with foreigncapital in Poland at the end of2010, approximately one-thirdwere American investments.In terms of value, from 2000 to2009, the service center sectorin Poland increased more thansix-fold, from $1.3 billion to$7.6 billion. The growing importance ofthe business services industryis also visible in job creation,with the report estimating thatin 2010, the sector employed

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German gym

chain McFit to

enter Poland

German gym chain McFit

is eyeing the Polish

market, Puls Biznesu

reported. McFit is one of

the largest players on the

German market, with

more than 150 gyms in

the country. The company

confirmed its interest in

the Polish market, but

refused to divulge any

details. McFit will be

facing a competitive,

fragmented market in

Poland, which has more

than 5,000 fitness clubs,

but only a few chains.

Fewer people

retiring

In April 2012, 4.953

million people were

receiving benefits from

Poland’s state-run social

security fund, ZUS,

compared to over 5

million in November

2009. The number of new

retirees is also

diminishing, reported

Dziennik Gazeta Prawna.

Last year, there were

102,500 new retirees,

compared to 243,000 in

2009. The average

retirement age also

increased from 58 in 2008

to 59.6 years in 2011. One

of the reasons for this

situation is a partial

elimination of retirement

privileges dating back to

January 2009. The reform

prevented almost 800,000

workers from taking

early retirement.

Budget deficit

at z∏.27 billion

Poland’s national budget

deficit came in at around

z∏.27 billion at the end of

May, about 77% of the

annual plan, reported

deputy minister of finance

Hanna Majszczyk. For the

period, the Ministry of

Finance planned a deficit

of around z∏.27.1 billion –

77.3% of the annual total

of z∏.35 billion. In June,

the national budget will

receive a profit of z∏.8.2

billion from the National

Bank of Poland.

Poles return

lost wallet

Two young Poles found

and returned a wallet

with the equivalent of

z∏.20,000 plus several

credit cards in downtown

Warsaw last week. The

owner turned out to be a

36-year old Russian

citizen. The young couple

found the wallet on a

bench. ●

www.wbj.pl

US-Poland business relations

Blossoming partnershipAndrew Nawrocki

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“Now is the perfect time for the twogovernments to set a new, forward-leaning

agenda for commercial cooperation”

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ImportsExports

Room for improvement Poland’s foreign trade turnover by major countries, 2011, as a percentage of total exports and imports

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eWBJ sits down with top members of the Polish-US business community to discuss economicties, new areas of growth and obstacles to closercollaboration

Continued on p. 13 ➡

E U R O 2 0 1 2 F A N G U I D EBBEESSTT OOFF WWAARRSSAAWW

JUNE 18-24, 2012

Everything you need toknow for a short stay inWarsaw 1-2

Insider presents a round-upof the first week of Euro2012 action 6-7

Warsaw getsits own luxurydepartment store 3

B R O U G H T T O Y O U B Y W A R S A W I N S I D E R

Pushed for time? Warsaw Insider brings you thebest ways to get the most out of Warsaw

Personally speaking, I don’t need a timetable when I find myselffollowing England abroad. That’s always a one-dimensionalaffair with no planning required: Stake your territory with aBristol City flag, bask like a seal in a beer garden, fail to scoretickets then shout at a screen in a murky-looking dive.

Happy days, and certainly a schedule I’ll be keeping this sum-mer. Of course, not all visitors this June will be viewing Euro2012 as a jumbo-drinking challenge. And why would they? TheWarsaw of today is not short of attractions, sights and curiosities.With your time no doubt limited, we bring you the best:

DDAAYY 11MorningCentral Station: No matter how you arrive, you will passthrough Central Station. Opened on December 5, 1975, to coin-cide with Leonid Brezhnev’s junket to the 7th Workers’ PartyCongress, it was trumped as a triumph of socialism: out-of-town-ers mobbed the place to gawk at space-age touches like Italianclocks and escalators from France … the nation’s first vendingmachine, even. Constructed in under 1,000 days, sloppy work-manship soon became apparent, and in the following years thestation rotted into ruin. Now though, thanks in part to the Euro2012 tournament, this evil concrete underworld has been rein-vented with designer toilets and electronic timetables that meas-ure waiting times by the amount of cheeseburgers your guts canprocess at the nearby McDonald’s.

Palace of Culture: Resist the temptation to lose yourself in theattractions of the Fan Zone, and instead take a trip up Poland’stallest building. Built as a present from the Soviet Union (choose

between a metro or a tower, they asked), it’s totally Gotham Cityin its brooding excess. Featuring 3,288 rooms, the highlight ofthis 231 meter monolith is the viewing platform perched on thetop: Stretch out to touch neighboring skyscrapers like DanielLiebeskind’s weird work in progress, Z∏ota 44, or the InterConti-nental Hotel, host to Europe’s highest pool.

Jewish Warsaw: Home to Europe’s largest ghetto duringWorld War II, the Nazis did a thorough job of erasing their dirtywork: Methodically flattened, the post-war Muranów housingestate was plonked on the ruins of the ghetto and today only frag-ments survive – a section of original wall on Sienna 55 (enterfrom Z∏ota 62), for instance. More recently, a dramatic installa-tion has been added to ul. Ch∏odna: illuminated at night, a trailof overhead lights mark the spot where a bridge notoriously con-nected the large ghetto with the small. The focal point of pre-warJewish life, however, was to be found on pl. Grzybowski, a trian-gular plot close to the Palace of Culture. A small maze of streetsleads to Warsaw’s only surviving synagogue (ul. Twarda 6), andnearby don’t miss a look at ul. Pró˝na – now rife with cranes andindustrial machinery, this was the only ghetto street to escapeobliteration. While one side is being busily redeveloped, theother offers an eerie glimpse into the past: propped up by wood-en scaffolds, the empty blackened tenements lean inwards on thestreet, lending a spooky feel to this part of town.

AfternoonCenter: Inch through the crowds to make it to Rondo deGaulle’a. The roundabout takes its name from Charles de Gaulle(who got stuck in against the communists during the 1920 Battleof Warsaw), and is easily recognized on account of its palm – fif-teen meters tall, the artificial tree celebrates its tenth birthdaylater this year. Titled “Greetings from Jerusalem,” the palm isintended as a reminder of Warsaw’s lost Jewish population, andprovides a stark contrast to the bleak concrete construction thatlooms in its shadow. That’s the former Communist Party HQ, ablockish building reputed to have underground tunnels runningto secret train stations. In an ironic twist the structure, whichincorporates masonry from Hindenburg’s former mausoleum,briefly served as the home of the stock exchange after the IronCurtain fell.

The Royal Route: Make yourway to Stare Miasto (OldTown) by heading past thestore fronts and cafe terracesof Nowy Âwiat and up theregal looking KrakowskiePrzedmieÊcie. It’s the sameroad Polish monarchs once

Essential Warsaw

72 hours in WarsawS

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Take a trip up Poland’s tallest building

In thissupplementEssential Warsaw . . . . . . . . .1-2

Shopping . . . . . . . . . . . . . . . . . . .3

Insider recommends . . . . . . .4-5

Euro 2012 summary . . . . . . . .6-7

Warsaw Fan Zone . . . . . . . . . . .7Continued on p. 2 ➡

JUNE 18-24, 2012BBEESSTT OOFF WWAARRSSAAWW2 www.wbj.pl

followed on their way to and from town, and there’s still much topause for. Composer Fryderyk Chopin was raised around theseparts, and while he’s famous for his associations with France,home is where the heart is – literally. Following his death hisheart was pickled in brandy then sealed in an urn inside HolyCross Church (Krakowskie PrzedmieÊcie 3). Tucked past the ele-gant Bristol Hotel find the Presidential Palace: the official resi-dence of the big man in charge. In 1955 it entered history when

the Warsaw Pact – the red reply to NATO – was ratified inside.With Old Town already in view, spare a breathless few minutes toclimb the viewing platform at St. Anne’s Church (KrakowskiePrzedmieÊcie 68), before heading back down … deep down. Theescalator on the other side of the street was the first in Poland.Opened in 1949, socialist reliefs have been preserved to this day,as have period signs warning repeat offenders against using theescalators over and over (hey, there really was that little to dounder the old system).

Old Town: If you’ve had enough of going up and down the esca-lator (naughty, naughty), then you could explore Mariensztat atthe bottom – a powder-pink housing estate that was a modelcommunist project. Alternately, head into the Old Town. Theentrance to it is announced by the statue of King Zygmunt, theregent who chose to shift the capital from Kraków to Warsaw.The original column, taken out by a German artillery round, liesnext to the Royal Castle.

Leveled by the Nazis in 1944, the Old Town was skillfullyrebuilt using pre-war photographs and paintings as reference.Nowadays, you’d never guess that bits of it are probably youngerthan yourself. Frankly, there’s too many highlights to mention, sowithout sounding like a tourist comic the best idea is to let yourwhims lead you down the cobbles and the courtyards. There aresome unmissables though, those being St. John’s Cathedral withits echoing crypt, and the square itself with its Historical Muse-um – inside, view the story of Warsaw’s wartime destruction,before maybe heading down ul. Piwna to the Barbakan: an Ital-ian-designed brick fortress that marks the end of the Old Town.Warsaw’s most poignant memorial, that to boy soldiers killed inthe Uprising, is found on Podwale as you curve around OldTown.

EveningWarsaw’s Old Town is a tourist-exclusive district. Come night, thelocals head to the center – if you’ve packed some knockout after-shave join other predators and night owls as they prowl aroundthe clubs of Mazowiecka and others in its radius. After the club,convene to one of the all-night shot bars that have becomeincreasingly vogue – Meta, Pijalnia, Bar Warszawa and Przekàs-ki Zakàski are all great spots to raise a vodka and toast your sur-roundings.

DDAAYY 22:: MorningSet the alarm early – museum time! The Warsaw Uprising Muse-um is a standout, and does a sterling job of educating visitorsabout the tragedy of the Uprising – the ill-fated 1944 rebellionwhich resulted in “the death of the city.” Costing a quarter of amillion lives, the battle for Warsaw left 84 percent of the capitalin a heap of rubble. Using 3D CGI effects, a high impact filmtakes viewers on a five-minute aerial tour of the devastated city.If you’re keeping a “to-do” list, this should go somewhere at thetop. Joining its ranks in Warsaw’s Mega Museum League is theChopin museum, a place worth visiting even if you have no inter-est in the chap – reckoned to be one of the most hi-tech muse-ums in the world, it completely redefines the sightseeing experi-ence. Finally, the Copernicus Science Centre completes the BigThree, with hundreds of hands-on science displays that appealnot just to kids – let’s face it, who doesn’t want to return homeand boast they’ve experienced an earthquake or flown on amagic carpet. Yes, that’s exactly what awaits at the Copernicus.

Late AfternoonSaska K´pa: With kickoff approaching, head across Most Poni-atowski to amble around Saska K´pa, an upmarket district heav-ily sprinkled with Art Deco villas and Modernist mansions. It’snot rare to find locals declaring the area a “village within a city,”and yes, it does have that temperament. While low on specifictourist sights, it’s a quiet retreat from the madhouse downtown,and that’s especially true of Park Skaryszewski. Hiding amid thetrails and ponds find a string of memorials, including a commem-orative bolder honoring a British plane shot down while droppingsupplies during the Uprising. Only one pilot survived, and he waspresent when Margaret Thatcher unveiled the memorial in 1988.

EveningPraga: Of course, there’s an ulterior motive to luring you here.The National Stadium is bang next to Saska K´pa. While mostfans will plod straight back to the center after the final whistle,don’t think you have to. The right side of the river has becomesynonymous with nightlife, and the bars are its business card. InSaska K´pa, Klubokawiarnia Towarzyska has become a hit withthe leftfield community, but for Warsaw at its rawest head to thebars of Praga. While this district has historically enjoyed darklocal press, in recent years it’s become the home to a thrivingcounter-culture, with hip bars flourishing amid artsy workshopsand creative projects. In this respect, ul. Zàbkowska stands outfor its edgy wall art and scattering of bars. W Oparach Absurdu(Zàbkowska 6) appeals on account of a shambolic design andBohemian bent, though to really capture the spirit(s) of this areavisit Czysta Ojczysta (Zàbkowska 27/31). Entered throughcreepy neo-Gothic gates, this former vodka factory is currentlyunder development. In the meantime, several of the outbuildingshave been utilized for weird and wonderful uses, not least CzystaOjczysta – a cavernous vodka bar with a “Bladerunner” back-drop.

DDAAYY 33 MorningOuch. There’s an off chance you may wake-up in a bush lookinglike a shot badger. Should that be the case, consider a replenish-ing visit to the park: Warsaw’s a green city, and her parks are herpride. To the south ¸azienki is breathtaking, and closely protect-ed by a battalion of peacocks. If you’re here on Sunday, checkout the live Chopin recitals which entertain once a week withinsight of his statue. And while there, wave at the Polish team –they’re staying across the road in the Hyatt Hotel. Saski Parkpleases in equal measure: opened in 1722, it was one of the firstpublic parks in the world, and her highlights encompass 21Baroque sandstone sculptures, as well as the Tomb of theUnknown Soldier – the one surviving element of what was once

Saski Palace. More hidden, Warsaw University Library (Dobra 56/66) has

a splendid park positioned on the roof, though for the Insider’sfavorite little secret, check Osiedle Domków Fiƒskich (ul.Jazdów). Consisting of 28 wooden chalets, it’s an amazing hous-ing project in the center of the city: constructed in 1945 to housearchitects involved in the rebuilding program, the pre-built cab-ins were imported from Finland. Set against a serene wooded

background, the sensation is akin to being teleported to a tinySwiss village.

AfternoonRetail therapy time, with serious shoppers advised to gravitatearound Mokotowska / pl. Trzech Krzy˝y. Designer names shoutfrom each awning, with major international fashion houses shar-ing the streets with upcoming local names like Maciej Zieƒ. Bou-tique unique indeed. But no trip to this area can be completewithout first exercising the credit card at Vitkac – Poland’s onlyluxury department store. Celebrate your splurge in the on-sitechampagne bar. For something totally different, then pencil in avisit to the Ko∏o Market on ul. Oboêna. Held each Sunday, thisflea market is legendary for its offer: antiques from various erasvie for space alongside war loot and communist keepsakes.

EveningThat’s it: Warsaw in a nutshell. Enjoyed it? Then say goodbyein style. Squeezed between the Old Town and the river, ajazzy looking fountain park amuses each night with choreo-graphed water displays that draw hundreds of onlookers.Then again, maybe drinks at the pub sounds like a far betterplan …

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The right bank of the Vistula is well known for its

vivacious nightlife

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The Chopin statue in ¸azienki Park

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Church of St. Andrew Bobola in Saska K´pa

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Saska K´pa is an upmarket district heavily sprinkled

with Art Deco villas and Modernist mansions

➡ Continued from p. 1

JUNE 18-24, 2012 BBEESSTT OOFF WWAARRSSAAWW www.wbj.pl 3

If you’re planning to doa bit of luxuryshopping while in town,look no further thanthe Vitkac – WolfBracka departmentstore

True luxury brands took theirtime entering Poland. Thatwas to be expected, with

salaries here still far lowerthan those in Western mar-kets.

Nevertheless, for those witha taste for haute couture, itseemed like Warsaw had beenwaiting for an eternity for itsvery own luxury departmentstore. Then, suddenly, itappeared on the horizon – ashadowy black cube hoveringlike a visitor from space.

Varsovians had seen thismassive glass edifice go up bitby bit, but few really knew whatit was meant to be. That was,until a huge Gucci logo wassplashed across the side. Final-ly, creme de la creme luxurybrands had come to Poland. Itseems rational that they havejust now decided to do so, see-ing as Poland was the onlycountry in Europe that wasn’t

pummeled by the global eco-nomic crisis. An increasingnumber of Poles now have thespending power to splurge on abit of Balenciaga or Galliano.

The roster of designers atVitkac – Wolf Bracka is trulyimpressive. There’s everythingfrom Alexander McQueen andChloé to Maison MartinMargiela and Victor & Rolf, aswell as Marc Jacobs – every 30-

something’s darling. The mouthwaters at the thought of theimpeccable tailoring. Andthere’s over 30 more.

Your reviewer spent at leasthalf an hour drooling overeverything in the Yves SaintLaurent flagship, strolling pastthe champagne bar and then upthe escalator to the open-spacesetup.

It may be a bit dark andbrooding, while the hoped-forthrongs of millionaires crowd-ing to hand over their platinumcards remains a fantasy thatneeds a few more years of nur-turing. Nevertheless, the sales-people are in ample supply, allready to assist in the luxuryexperience.

So for those visiting ladiesand gents who would be intosomething a little more elegantthan heading to the pubs andstaring at soccer with the boys,Vitkac – Wolf Bracka shoulddo the trick.

It’s a great start for the evo-lution of the upscale retailmarket in Poland, and it won’tbe long until it is known as thePolish Harrod’s. Maybe achampagne shopping party ortwo will get the crowds going atVitkac.

AAggnniieesszzkkaa LLeennaarrtt

Shopping

LLuuxxuurryy ccoommeess ttoo WWaarrssaaww

Vitkac – Wolf Brackaul. Bracka 9http://www.vitkac.com tel. +48 (22) 310-7313Open Monday-Friday 12 pm – 9 pm;Saturday-Sunday 11 am – 9 pm

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Vitkac – Wolf Bracka offers an impressive range of designer goods

JUNE 18-24, 20124 www.wbj.pl

For two decades SanLorenzo has been earn-

ing accolades and praise asWarsaw’s number one desti-nation for Italian dining. Splitin two parts, the top flooroffers elegant dining insideextravagant belle époqueinteriors; especially popularamong romancing couplesand corporate diners, guestscan expect authenticity to thetee. That’s largely down toattention to detail: an Italianchef, original Italian prod-

ucts, fresh seafood and home-made pasta and bread. Luca,the head chef, is a professorof his art, and his master-pieces number fresh tuna tar-tar, Fiorentina steak andspaghetti served with half alobster. On the ground floor,proceedings are more infor-mal, and the café bar is a pop-ular meeting point whereItalian expats converge towatch soccer. Passions risethe moment the soccer isscreened, with the atmos-

phere pleasantly stoked bythe availability of over 100kinds of Chianti as well aswines from all across Italy. ●

Al. Jana Paw∏a II 36,tel. 22 652 16 16

Food & drink

SSaann LLoorreennzzoo

Located on SolidarnoÊci 84,a short hop from the

CBD, Le Cedre’s new venue(find their older restaurant onthe same street, but on theother side of the water) is amasterstroke: a plush intimatespace decorated with deepburgundy colors and soft over-head lights. Aesthetically, itlooks perfect – modern andclassy, and a clever contrast tothe more extravagant original.As for the food, well, themenu is a blinder. The lambgets an A-grade, but you'remissing the point if you over-look the mezze (starters). Thevery point of Lebanese food

lies in covering the table withlittle pots of exotica, beforemaking a mess as you eat withyour hands. Aside from sta-ples like tabolleh and hum-mus, discover dishes like theshanklish (a rich homemadecheese), or the delicious garlic

cream – it’s got a subtle tangthat keeps vampires away. Asfar as intimate dining experi-ences go, this one is impossi-ble to beat. ●

Al. SolidarnoÊci 61www.lecedre.pl

tel: 22 670 11 66

Food & drink

LLee CCeeddrree 8844

BBEESSTT OOFF WWAARRSSAAWW

Traditional cuisine from theGreek Islands.

Dishes are based on origi-nal recipes which have beenpassed down by generationsand enjoyed by Venetians andTurks.

Tawerna Patris offers threeair-conditioned rooms, eachwith different interiors, a bigparking lot and affordableprices. ●

TAWERNA PATRISul. Wa∏ Miedzeszyƒski 407

(near the National Stadium)tel: 22 357 11 11

[email protected]

Food & drink

TTaawweerrnnaa PPaattrriiss

Ma∏gorzata Potocka’s SabatTheater is the only place

in Poland where one can watcha Revue Show or a Las Vegas-style show that combines stun-ning performances alongside anevening of dancing and excel-lent food. After the perform-ance find the stage transformedinto a dance for our guests,while our singers perform someof the greatest hits from con-temporary times. Found in thecenter of Warsaw, we offer achic, elegant atmosphere insideextravagant Art Nouveau interi-ors that are unique to the city. ●

ul. Foksal 16,www.teatr-sabat.pl

tel. 22 826 84 21

Food & drink

SSaabbaatt TThheeaatteerr

Picture this: the CEO is intown and the evening

meal is left in your hands.There’s no room for error,and the last thing you need isa clattering waiter or a roguecut of beef. Well, promotionawaits with a trip down theBelvedere. A venue of somedistinction, this former impe-rial orangery stares out acrossthe immaculate lawns of¸azienki, with plant-heavyinteriors adding an etherealquality that improves with thefood. Mixing up elements offusion with molecular, andthe orient with Polish, AdamKomar’s menu is both innova-

tive and historic – heck,there’s even a dish oncehoned by Tremo: the personalchef of Poland’s last King. Putsimply, this is fine dining at itsbest, and a frequent nomineeat the Insider’s Best of War-

saw awards. With summer inswing, check out their gardenpatio, replete with peacocksslinking between tables. ●

ul. Agrykola 1www.belvedere.com.pl

tel: 22 558 67 00

Food & drink

BBeellvveeddeerree

Brought to you by Sabat Theater

Coffeeheaven is muchmore than just a coffee –

for the customers it hasbecome a synonym of thebest-quality products, thebest people and the bestambient atmosphere.

For 12 years, as an unques-tionable Polish market leader, ithas been a haven for all thoseseeking premium coffee andfood. Havens of relaxation,recharge and revitalisation,coffeeheaven stores are conve-niently located in shoppingmalls, high streets, railway sta-tions and airports.

It’s an ideal place for thoseon the move as well as for thosewho wish to relax and enjoytheir coffee and snacks. Comeand visit the unforgettable cof-

fee stores of coffeeheaven.Locations:• BUW,

ul. Dobra 55/56• Nowy Âwiat,

ul. Nowy Âwiat 46• Porty Lotnicze / Airport,

ul. ̊ wirki i Wigury 1• Forum,

Al. Jerozolimskie 33• Plac Trzech Krzy˝y / Three

Crosses Square,ul. ̊ urawia 1A

• Plac Teatralny / TheatreSquare, ul. Senatorska 18

• Plac Bankowy / BankSquare, Pl. Bankowy 2

• Dworzec Centralny PKP /Warsaw Central railway sta-tion, Al. Jerozolimskie 54

Find our location,www.coffeeheaven.pl

Food & drink

TTaassttee yyoouurr ffaavvoouurriitteeccooffffeeee iinn ccooffffeeeehheeaavveenn

Brought to you by coffeheaven

Brought to you by Tawerna Patris

JUNE 18-24, 2012 www.wbj.pl 5

With a few exceptions, theOld Town does not quite

seem to be great restaurant ter-ritory. Enoteka Polska, locatedon the edge of the Old Town, isa unique place as a perfectcombo of traditional Italianrestaurant, wine bar and spe-cialised wine shop.

With a brilliant selection ofhand-picked wines from 44(only European) top wineriesand a menu of gorgeous Italiancuisine with authentic ingredi-ents, it is the ideal spot to escapethe city and enjoy a casual, rusticvibe with a note of distinguishedelegance. In addition Enoteka'swine import policy allows forguests to enjoy outstandingvalue for money.

Enoteka started in 2009 andhas collected some prestigiousprizes like “Best Newcomer2009,” “Best Wine Bar 2010”(both awarded by Warsaw Insid-er magazine), “Best Restaurant2009” (nominated by GazetaWyborcza) and the best scoreamong the Polish wine

importers on the Grand Prix2011 of Magazyn Wino.

Quiet, charming and satysfy-ing, Enoteka brings somethingenticing and unique to Warsaw’ssomewhat jaded dining scene. ●

ul. D∏uga 23/25,www.enoteka.pltel. 22 831 34 43

Food & drink

EEnnootteekkaa

There’s more to Warsaw thissummer than the football,

the stadium and that cup every-one is talking about. Discoverthe hidden side of town on thistour with a twist. Journey toWarsaw’s hidden nooks andcrannies in an immaculatelypreserved communist-era firevan, or a Fiat 125p: yep, exactlythe sort of car you’d have foundPoland’s retro football starspootling around in. Whetherit’s hidden pre-war remains, orobscure traces of communism,Warsaw Behind the Scenes liftsthe lid on the city’s deepestsecrets!

Promising a total departurefrom your stereotypical tour,

your adventure penetrates themask of this emerging capital –and, along the way, expect to beenjoying some true hospitality:Polish style! Prepare for vodkashots and bites in locations thathistory has forgotten! Choose

from two tours: one starting at11:00, and another that peersinto Warsaw after dark startingat 7:30 pm! ●

For more informationwww.warsawscenes.com,Marcin +48 605 278 289

Concept 13 is located onthe top floor of

VITKAC – the first luxurydepartment store in thecountry. The bright, moderninterior offers breathtakingviews of the capital’s vibranturban scenery. But the archi-tecture is not all – the cuisinewill satisfy even the most dis-cerning gourmand. Themodern international menuwith Polish traditionalaccents guarantees culinarycontentment.

On the 4th floor is Bar 13– those looking for a quick,

quality snack can enjoy realItalian coffee, salads, steaksand sandwiches while admir-ing Warsaw’s rooftops.

The designer interior,open kitchen and summerterrace will make your trip toConcept 13 a truly uniqueexperience. ●

Concept 13 (5th floor)Bracka 9, Warsaw+48 22 310 7373 www.vitkac.com

mon-sun 11.00-23.00

Food & drink

CCoonncceepptt 1133

BBEESSTT OOFF WWAARRSSAAWW

City tours

BBeehhiinndd tthhee SScceenneess!!

Bistro S∏ony Magda Gessler invites you for the best breakfast in Warsaw in themorning and for snacks served with wine and “shots” of lager in the eveningand nightWe recommend:• „Sznytki” – little canapés with spreads (also as takeaway and catering offer)• The best white sausage in Warsaw• Herring in different styles• Viennese specialties: leberkäse, debreciner and frankfurter sausages • Breakfast sets and breakfast a la carte. On the weekends served till 4 pm.• Wide selection of gluten free dishes

S∏ony11 Pi´kna St.(crossroads of Pi´knaand Krucza st.)

phone: +48 22 629 03 64,0048 506 052 093,

www.slony.pl;[email protected]

Brought to you by Warsaw Behind the Scenes

Brought to you by Concept 13

JUNE 18-24, 2012BBEESSTT OOFF WWAARRSSAAWW6 www.wbj.pl

Group AThe Czech Republic

Overview: TheCzech Republicwere left reelingafter being out-classed by Russia,but came back

with a slightly fortuitous win overthe Greeks. Victory came at aprice though, with Tomas Rosickylooking likely to miss their must-win game against Poland as WBJwent to press. Having hoisted thewhite flag against Russia, theCzechs will nonetheless havebeen pleased with their perform-ance against Greece. As of presstime it remained to be seenwhether they would be able torise to the challenge of their face-off against Poland in the bear pitof Wroc∏aw.

Where to Watch: U Szwejka (Pl. Kon-stytucji 1) / Czeska Baszta (Tower22A, Most Poniatowskiego). Praguestreet signs and pictures of the sim-pleton, Good Soldier Szwejk, adornthe walls at U Szwejka, a restaurantserving traditional Czech food. Alter-natively, head to Czeska Baszta to trytheir 80+ brands of import lager.

The Polish Connection: In 1968accountant Ryszard Siwiec sethimself ablaze at Warsaw’s 10th

Anniversary Stadium (the site oftoday’s National Stadium) toprotest against the Soviet Union’sinvasion of the Czech Republic.

GreeceOverview: Whenyou’re down,you’re down. Inthe first week ofEuro 2012 theGreeks had a hor-

rid time, where nearly everythingthat could go wrong, did. A con-troversial sending off by the ref-eree in the opening game leftGreece facing an uphill battle.Though their fight back to earn adraw was admirable, they’ll beruing Giorgos Karagounis’ penal-ty miss. Luck continued to evadethem in their following game,with their keeper ruled out in theopening 20 minutes, and a goaldisallowed by a linesman. As ofpress time the Greeks were leftneeding a victory over Russia tostand a chance of qualifying.

Where to Watch: There’s a raft ofGreek restaurants in Warsaw, but fewmatch Tawerna Patris in terms ofatmosphere.

The Polish Connection: Over 12,000Greeks fled to Poland during andafter the Greek Civil War in the

1940s, with the Polish governmentsettling the majority in the town ofZgorzelec.

PolandPoland played mag-nificently in theopening 45 minutesagainst Greecebefore, inexplicably,hitting the melt-

down button. Even with the refereetaking their side, the Poles could onlymuster a 1-1 draw against battlingGreece. A see-saw game against Rus-sia saw a more composed perform-ance, with a fantastic equalizer fromJakub B∏aszczykowski seeing thespoils shared in this high-tempogrudge match. Despite their heroics,Poland were left needing to beat theCzechs in order to advance as WBJwent to press.

Where to Watch: This is a tricky one.Expect everywhere and anywhere tobe mobbed with face-painted Polestooting into plastic trumpets: the fanzone, the pub, your neighbor’s shed.For the seminal patriotic Polish expe-rience, hit ¸azienkowska 3 – theLegia Warszawa pub.

Did You Know? Better known fordark, chilly winters, Poland is alsohome to one of Europe’s last surviv-ing deserts: Pustynia B∏´dowska.German military commander ErwinRommel was so impressed by “thePolish Sahara” he chose to train hisdesert troops there.

RussiaOverview: The Rus-sians fired out awarning in theiropening game, pro-ducing a scintillat-ing display of soccer

during their 4-1 thumping of theCzechs. Were it not for the profligacyof Aleksandr Kerzhakov, viewerswould have been tuning in for a crick-et score. But while their 1-1 draw withPoland in their next game was benefi-cial for diplomatic relations, Russiawill be concerned that they wereunable to put the game to bed. As ofthe first week of the tournament, thisdark horse had impressed with somesparkling midfield interplay betweenveteran Andrey Arshavin and youngbuck Alan Dzagoev.

Where to Watch: Head to folksyBabooshka for a stiff shot of vodka.

The Polish Connection: Most Ponia-towskiego, the bridge fans cross toreach the National Stadium, was orig-inally named after Tsar Nicholas II.In less than 100 years this piece ofRussian imperialism had burnt downonce, collapsed another time, andbeen blown up twice.

Group BDenmark

Overview: Here’s ateam that clearlydidn’t read thescript. Rated as 100-1 outsiders at thestart of the tourna-

ment, the Danes had been invited toGroup B to serve as cannon fodder.A classic hit and run on a misfiringNetherlands side sent out the mes-sage that the Danes weren’t here toenjoy the sights, though they’ll be gut-ted about the nature of their 3-2defeat against Portugal. But thisgroup remained wide open at presstime, and they were left requiringNicklas Bendtner – in trouble forrevealing sponsored underpants dur-ing a goal scoring celebration – torepeat his performance against Por-tugal to stand a chance against Ger-many.

Where to Watch: Poor Denmark. In acity full of niche bars and restaurants,only the Danes lack a place to callhome.

The Polish Connection: You knowthat little mermaid that sits in Copen-hagen harbor? Well, according tosome legends, she’s the blood sisterof Warsaw’s own syrenka.

GermanyOverview: Germanyhave undergone aremarkable trans-formation in recentyears: Gone is them e t h o d i c a l ,

mechanical approach of old, replacedby a slick passing game and a cavalierstyle. Their fans will have beendelighted with the comfortable easewith which the Dutch were dis-patched, but this side is far too pro-fessional to get carried away and losefocus. Worryingly for the rest ofEurope you get the idea that Ger-many have yet to slip out of secondgear – expect them to be there orthereabouts come the end of June.

Where to Watch: Adler (Mokotowska69) is better known as a bit of a gold-en oldies Bavarian themed eatery –their takings will soar this summer.

The Polish Connection: In the wordsof Basil Fawlty: “Don’t mention thewar.” So we won’t. Instead, as Polandstruggle to breach defenses this sum-mer, their fans will wonder whatcould have been if Polish-born strik-ers Miroslav Klose and Lukas Podol-ski had opted to represent their coun-try of birth ahead of that country nextdoor.

The NetherlandsOverview: “Expect a blood and thun-der performance against arch rivals

Germany,” wewrote last week.How wrong wewere. Dazed bydefeat against theDanes, Holland

produced a largely spineless perform-ance in their following game. Play-maker Wesley Sneijder has slammedthe “pathetic egos” in the dressingroom, while Arjen Robben has court-ed criticism for playing like a play-ground bully: hogging the ball andchancing shots from unlikely angles.Amazingly, the kamikaze Dutch stillhad a slim chance of going further asof press time.

Where to Watch: The diminutiveWiatraki (Warecka 8) regularly holdsmixers for Dutch expats and will hitfever pitch this summer.

The Polish Connection: Art dealerHendrick Uylenburgh, who manycredit for developing Rembrandt’scareer, was raised in Kraków.

Portugal Overview: This flairside has developedwell under coachPaulo Bento, andwhile their gameagainst Germany

was largely woeful, Portugal returnedto emerge winners in a five-goalthriller against the Danes. However,the Portuguese will be concernedabout Cristiano Ronaldo’s inability toreplicate his club form on the interna-tional stage. The Real Madrid manhas cut a sorry figure this tourna-ment, and as of press time needed torecover his mojo fast if Portugal wereto advance.

Where to Watch: Warsaw’s Por-tuguese expats will be gathering atPortucale (Merliniego 2). WannabeRonaldos can practice their diving inthe Aqua Park close by.

The Polish Connection: According toone recent study, Portuguese resi-dent/explorer Christopher Columbuswasn’t of Italian extraction, but actu-ally the son of W∏adys∏aw III, theexiled King of Poland.

Group CSpain

Overview: On paperthe world champi-ons have thestrongest squad inthe tournamentwith a team brim-

ming with major talent. The Spa-niards have bedded in nicely, avoid-ing defeat against Italy, and enjoyingplenty of target practice against Ire-land. Questions had been raisedabout their strike force, as well ascoach Vincente del Bosque’s curiousdecision to start the Italy game with-out a forward. With that in mind,

their 4-0 tonking of Ireland came atthe right time, and Fernando Torreswill be delighted to have rediscoveredhis scoring boots. Clearly, these ladsremain the ones to beat.

Where to Watch: Tapa y Toro (ul.Z∏ota 59). With a location next to theFan Zone, and a great outdoor area,it’ll be nothing less than packed.

The Polish Connection: 13 Polish soc-cer players have played in Spain’s topdivision, La Liga, the last of whichwas goalkeeper Jerzy Dudek, whowarmed the bench at Real Madrid forfour seasons.

ItalyOverview: Italy fol-lowed a surprisinglyopen philosophyagainst Spain, push-ing the World Cupholders to the very

edge. But this was followed with adraw against Croatia, a game theyshould have finished off had they notdecided to make themselves comfort-able and sit on their lead. Nonethe-less, the Italians have played someelegant soccer, and an early depar-ture from the tournament would beviewed as self-inflicted.

Where to Watch: Ristorante SanLorenzo (Al. Jana Pawa II 36).Upstairs it’s a swank eatery. The cafédownstairs though is popular withnoisy Italians cheering the soccer.

The Polish Connection: ItalianPrincess Bona Sforza became Queenof Poland in 1518 after she marriedKing Zygmunt I. She absconded afterpoisoning her son’s girlfriend, andher ghost now purportedly hauntsCzersk Castle.

Republic of IrelandOverview: Oh dear.“You’ll never beatthe Irish,” sangtheir army of fans.“Yes we will,”crowed the rest of

Europe. Taken to pieces in theiropening two games, Trapattoni’s sidewere the first to be booted out of thetournament. Former captain RoyKeane has been left unimpressed:“The players and supporters have tochange their mentality,” fumed soc-cer’s scariest man, “let’s not just goalong for the sing song.”

Where to Watch: Bradley’s (ul. Sien-na 39) remains the No. 1 Irish pub intown. It’ll be mad.

The Polish Connection: Polish is themost commonly spoken foreign lan-guage in Ireland according to thecountry’s 2011 census.

CroatiaOverview: Croatia can always becounted on to bring a bit of drama toa tournament, and they haven’t dis-appointed. Their fans have already

Euro 2012

The week that wasWarsaw Insider presents a round-up of the first week ofEuro 2012 action, providing a dedicated rundown of whoto watch and where to watch them

David Ingham, Alex Webber

JUNE 18-24, 2012 BBEESSTT OOFF WWAARRSSAAWW www.wbj.pl 7

hit headlines forrearranging Poznaƒcity center andrepeatedly throwingflares on to thepitch. The team

have been similarly explosive, withresults so far featuring a highly credi-ble draw against Italy, and a firmfootballing lesson dished out to theIrish. This is by no means a vintageCroatia squad, but Slaven Bilic’s boyshave got a clear system worked out –one that relies on smooth, fast pass-ing and quick-thinking soccer.

Where to Watch: Guccio Damagoj(ul. Suzina 8). Located in a formercinema and run by a Croat who hasresided in Poland for the past sixyears, this little restaurant offers top-quality Croatian wine and food.

The Polish Connection: Croatiaended Poland’s hopes of qualifyingthrough the group stages of Euro2008 with a one-nil win in Klagenfurtfour years ago.

Group DEngland

Overview: Is therean opposite of beingon a crest of awave? If so, that’swhere England is.Coach Roy Hodg-

son’s side of pampered millionairesand celebrity clubbers arrived in

Kraków with national expectationsset at rock bottom, and the stale per-formance against France served tofurther highlight the team’s short-comings. Even so, with talismanic for-ward Wayne Rooney set to appearagainst hosts Ukraine, the ThreeLions could yet climb out of thegroup. Don’t count on it though:Here’s a side that seemingly refusesto go beyond playing Neanderthal,hit-and-hope soccer.

Where to Watch: Legends (ul. EmiliaPlater 25) and The British BulldogPub (ul. Krucza 42) will go head-to-head to draw the exiles through thedoor. If rumors are to be believed,you’ll find the Bulldog open 24/7 forthe bigger matches.

The Polish Connection: The GreatEscape: the daring break away of Bri-tish troops from Nazi POW campStalag Luft III – immortalized in theSteve McQueen film of the samename – took place in ˚agaƒ, 150clicks from Poznaƒ.

UkraineOverview: We didn’texpect that. Per-ceived as a rollover,Ukraine produced alionhearted displayof aggressive soccer

to brush hotly fancied Sweden aside.Buoyed by a baying crowd, this teamof aging journeymen and alien namesstepped up to the plate when it mat-tered, with veteran striker Andriy

Shevchenko ensuring his place inUkrainian folklore with a spectacularbrace. Will they have more left in thetank? Clearly, there’s more to thisteam than passion and guts – withconfidence surging through the sideand home support, Ukraine couldwell book a QF berth.

Where to Watch: Kresowiak (Al.Wilanowska 43C). Although notstrictly a one-country restaurant, withfood based around traditional dishesfrom Ukraine, Lithuania andBelarus, Kresowiak certainly pro-vides a real taste of the near east.

The Polish Connection: The Ukrain-ian city of Lviv was once the Polishcity of Lwów, before becoming partof the Soviet Union in August 1946.

FranceOverview: CoachLaurent Blanc hasdone a fine job ofrevamping a Frenchside that implodedat the last World

Cup. While stifled by a doggedlydefensive English side, the Frenchstill have a team that’s capable of put-ting the frighteners on the best.Already though the feel-good factorthat returned during the qualifyingcampaign has evaporated, with theFrench press left glowering at SamirNasri’s “shhhh” gesture following hisequalizer against the English.

Where to Watch: L’Arc (ul. Puawska16), has excellent French food, fresh

lobster and a great wine menu.Whether they have a screen remainsunknown.

The Polish Connection: FormerFrench Emperor Napoleon Bona-parte is still revered by some Polesafter he created the Duchy of Warsawin 1807, following defeat of Prussia –that’s why a statue of him was recent-ly unveiled in Pl. PowstaƒcówWarszawy.

SwedenOverview: Dangerman Zlatan Ibrahi-movic gave theSwedes a dreamstart againstUkraine, only to see

his good work go to waste as the restof the team crumbled in the pressure

cooker atmosphere of Kiev’s OlympicStadium. Coach Erik Hamrenaccused his players of being “cow-ards” after the match, and theSwedes have been further rocked by“bumgate” after players werevideoed taking pot shots at the pink,naked bum of reserve keeper JohanWiland. Sweden, at least, will takeencouragement from the dour startEngland and France have made.

Where to Watch: IKEA (ul. Malbors-ka 51). The cheapest hot dogs in War-saw at just z∏.1. Surely there’ll be ascreen!?

The Polish Connection: Between1563 and 1721 Sweden and theLithuanian-Polish Commonwealthwere involved in series of wars knownas the Polish-Swedish Wars.

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Finding the funOfficial Fan ZonePl. Defilad. Open 10:00 am – 1:00 am(closing times will be extendedfor bigger games).

Built to handle 100,000 fans,the official Warsaw fan zonepromises to be the largestsuch project ever realized.Covering a floor plan of120,000 sqm, features includeeight giant screens for match-es, two concert stages and 400toilets. Set in the open spacesaround the Palace of Culture,the zone has been carved upamong numerous sponsors,each of which promise some-thing different: Carlsberg willbe handling the beer situationthanks to a two-floor bar,while a controversial McDon-ald’s – occupying the spotslated for Warsaw’s Museumof Modern Art – will tout amysterious contraption calleda “Giant Passion Meter.”

Orange has revealed plansfor an open-air cinema, aswell as a Robo-Keeper atwhom fans can crack shots at.Adidas claims that if youcome around to their corner,you’ve got a chance of meet-ing players, and Pekao Bankis on hand for currencyexchange, pre-paid cards andother banking services. Alter-

natively, head to MasterCardfor the inglorious chance to

be a ref for the day. Admis-sion is free.

Carlsberg Fan Campul. Wybrze˝e Gdaƒskie 4,

www.carlsbergfancamp.pl This temporary camp site/en-

tertainment heaven includessoccer fields, big screens andaccommodation, as well as apalm-lined artificial beach,music stages, catering and, ofcourse, loads of Carlsbergbeer.

The Rest Expect soccer overload inthe pubs and bars of Warsaw,and you’ll find expat hauntslike Bradley’s, The BritishBulldog and Legends allpacking out over the courseof the tournament. In thehotels, Champions (Mar-riott), Someplace Else (Sher-aton) and Hemisphere(InterContinental) will alsofulfill any soccer-viewingneeds. Few places, if any,have made a bigger effortthan the Warsaw TortillaFactory. Each and everygame will be complimentedby a “Half Time VarietyShow,” with entertainmentprovided by MC BarrySolone, African drummers,soccer tricksters, body-paint-ed party gals, cash-prizesweepstakes and a series oflive music acts. Aiming togenerate a carnival spirit,some memorable, wobbly-legged nights are completelyguaranteed.

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approximately 70,000 highlyskilled people. That was about50 percent more than in 2008,and the report’s authorsexpect the figure to grow to100,000 by 2013. It shouldcome as no surprise then thatin a recent study by HackettGroup, a global consultingfirm, Poland took third spotafter India and China as thebest location to set up a busi-ness process outsourcing(BPO) center worldwide.

According to JolantaJaworska, governmental pro-grams manager for CEE atAmerican computer giantIBM, collaboration with Polishtechnical universities is playingno small part in this boom.“Students already understandwhere technology can help infuture careers – be it careers inbusiness, government or medi-cine,” she said.

Hoping to tap this intellec-tual capital, in 2010 IBMinvested in a MultipurposeCloud Computing Center inPoland. The center is a jointproject of IBM Poland and theWroc∏aw University of Tech-nology and has been recog-nized by the European Com-mission as the most innovativeeducational project in Europebetween 2010 and 2011.

According to IBM, out of150 universities participatingin the exchange of knowledgeand experience between thefirm and academic centersglobally, 31 are from Poland.

Energy bonanzaAmerican firms are also mov-ing into new investment sec-tors in Poland, the star ofwhich is energy. According tothe Polish Ministry of Econo-my, demand for fuel and elec-tricity will increase by 40 per-cent in Poland between 2010and 2030. In a country wherethe bulk of energy continues tocome from coal, greater coop-eration in nuclear energy,renewable energy, and shalegas is imperative. US energygiants have already startedpositioning themselves toprofit from these potentiallylucrative markets.

“The US is a leader in all ofthese technologies and Po-land is posed to be a leader inEurope. Close cooperationand coordination on energyresources offers the potentialto significantly increase ourbilateral trade and invest-ment relationship,” said EricStewart, president of the US-Poland Business Council andone of the co-organizers ofthe US-Poland BusinessSummit.

Poland has yet to select atechnology provider for its twonuclear power plants, sched-uled to be built by 2030.Among the bidders for a con-tract that has been describedas one of the biggest in the his-tory of modern Poland are GEHitachi (a joint venture ofGeneral Electric and Hitachi),and Toshiba’s US-based unitWestinghouse. The Polish gov-ernment has signed joint dec-larations on energy coopera-tion with these firms and withFrench firms Areva and EDF,and is scheduled to make afinal decision in 2013.

In order to fulfill its com-mitments to the EU on renew-able energy, the Polish govern-ment forecasts that by 2030available renewable genera-tion will increase more thanfourfold, up to 11.8 GW. As aresult the renewable energysector is also seeing interestfrom American investors,with, for example, Americancapital behind three of thelargest wind farm projects inthe country.

But it is the shale gas indus-try that has received the mostattention lately. Poland’s shalegas fever only started a fewyears ago, but US giantsExxonMobil, Chevron, Cono-coPhillips and Marathon Oilare among the 19 firms busyexploring over 100 conces-sions.

It is thus not surprisingthat, highlighting the impor-tance of this new sector forbilateral relations, PresidentObama called for closer coop-eration between the two coun-tries in this sector on his first-ever state visit to Poland inMay 2011.

Contradictory estimates ofPolish shale gas reserves and alack of clear regulation regard-ing taxation pose some chal-lenges to investors. But com-ing from a country with theworld’s largest shale gas indus-try, American companies pos-sess a wealth of knowledgethat can be shared with small-er Polish companies, and manyseem ready to bet on thisemerging high-risk sector.

According to the US-PolandBusiness Summit report, amongthe most pressing concerns forforeign companies operating inthe shale gas industry are a needto “liberalize [the] gas market,introduce market-based pricingand ensure non-discriminatorytransportation and storage sys-tem access.”

Cut the tapeIndeed, although activity inthe energy sector points to arevival of US investment inPoland, many companies arefinding it difficult to navigatethe red tape.

When asked to outline themost common investment bar-riers that frustrate Americancompanies doing business inPoland, Marek ¸y˝wa, vicepresident of the Polish Informa-tion and Foreign InvestmentAgency, listed transportationinfrastructure, bureaucracy andan opaque tax system. Thoughmuch progress has already beenmade regarding transportationinfrastructure, largely thanks tothe UEFA Euro 2012 soccertournament, the remaining tworequire years of carefullyplanned work.

Despite this, there seemsto be a feeling of optimismthat is shared by both Ameri-cans and American businessesoperating in Poland. “After all,when we take a step back andtruly get to the crux of whymany Americans see Polandas such an attractive place forinvestment it seems to comedown to the people,” said MrLada. Indeed, taxes may fluc-tuate and bureaucracy maychange, but when looking atthe long term, it really doescome down to the power ofhuman capital. ●

JUNE 18-24, 2012 CCOOVVEERR SSTTOORRYY www.wbj.pl 13

Experts argue that politics, especially related tosecurity issues, tends to trump business when itcomes to US-Polish relations. A look at bilater-al trade figures seems to confirm this, withimports from the US to Poland comprising just2.3 percent of total imports in 2011. Morever,the United States did not even make it into thetop 10 destinations for Polish exports.

US investment in Poland also suffered amajor drop from 2009, from $23.6 million in2008 to $14.8 million a year later, and to $9.7million in 2010, according to figures from theWorld Investment Report 2011.

But that's not the whole picture. Accordingto the report “The next level: Polish-Americaneconomic cooperation 2012 and beyond,”American investments’ cumulative volumehovers above the $20 billion mark, making theUS the sixth-largest source of FDI flow toPoland and creating around 190,000 jobs.

Today US investments span a wide range of

sectors, and last year two of the top-three mostimportant investment projects in Poland werebacked by American capital, according to thePolish Information and Foreign InvestmentAgency. Those were 3M’s €42 million invest-ment in factories producing goods for thespace, aviation and automotive industries inWroc∏aw, and TRW’s €40 million investmentin Czechowice Dziedzice and Bielsko-Bia∏a.

“Recent years have seen a plethora of newopportunities for, and a few new challenges to,increasing bilateral trade between Poland andthe US. Now is the perfect time for the twogovernments to set a new, forward-leaningagenda for commercial cooperation. … Nei-ther country can afford to rest on its laurels,”Joseph Wancer, Henryka Bochniarz and EricStewart, respectively heads of the AmericanChamber of Commerce in Poland, PKPPLewiatan and the US-Poland Business Coun-cil, said in their joint report. ●

In figures

➡ Continued from p. 12

JUNE 18-24, 201214 www.wbj.pl OOPPIINNIIOONN && AANNAALLYYSSIISS

Tad Taube

If an American were planning along-awaited vacation to Lon-don and suddenly discovered

he needed not only a US passport butalso a British visa, he’d be surprisedand a little offended that his friendsin England required him to run thebureaucratic gantlet, especially whenBritish citizens can enter the USwithout doing the same.

Surely, when two nations haveenjoyed such a long and deep rela-tionship, their citizens don’t need tomake a big fuss over visiting eachother’s shores.

That is precisely how many Polesfeel today when they plan a visit to theUnited States, only to learn thatthey’re required to have a visa. Ameri-cans, by contrast, can visit Poland sole-ly on their US passport – 21 years agoWarsaw’s newly installed democraticgovernment repealed the visa require-ment for US visitors, a reflection of thefriendship the countries have sharedsince Revolutionary War days.

Leading voices in the tourism indus-

try and the US Chamber of Commerceagree: It’s well past time for Americanlawmakers to match Warsaw’s welcom-ing attitude and add Poland to the VisaWaiver Program. Not only would sucha move make for good foreign policy, itwould serve to strengthen US nationalsecurity and the economy.

Boosting tourismFirst and foremost, including Poland inthe Visa Waiver Program would makeit much easier for Poles to visit the US.Millions of Polish tourists travel theworld each year, but fewer than100,000 of them come to Americanshores. Yet in 2010 alone, countrieswith waivers were the largest source ofinbound overseas travel to the US,generating 17 million visitors and $61billion spent in the tourism industry, insupport of 433,000 US jobs.

As the only European Unionnation that continued to grow duringthe global economic crisis that startedin 2008, Poland boasts one ofEurope’s strongest economies. Cur-

rent projections from the EuropeanCommission for 2012 show anincrease in the annual growth ratefrom 2.5 percent to 2.7 percent. At atime when the US economy contin-ues to struggle, it only makes sense toencourage tourism from a friendlynation whose citizens enjoy signifi-cant disposable income.

Stalwart allyMoreover, Poland has proved to be astalwart ally of the United States.Ever since the Poles overthrew theircommunist regime, the Polish gov-ernment has consistently been amongthe most pro-American nations inEurope, even at the risk of incurringthe wrath of other EU or NATOmembers. Today, Polish soldiers fightalongside American troops inAfghanistan, as they fought togetherin Iraq, and the Polish governmentrecently invested $1.6 billion in thepurchase of American F-16 fighters.

Poland is also on the front lines ofAmerican counter-terrorism efforts,

sharing information that strengthensthe security of Americans at homeand abroad – and when it enters theVisa Waiver Program, Poland willadditionally be required to meetenhanced standards of counter-ter-rorism, law enforcement, border con-trol and document security.

The Visa Waiver Program is notan immigration bill. It is a jobs andtourism bill that will have a positiveimpact on America’s current eco-nomic and employment challenges.The security and commercial advan-tages the US would gain from bring-ing Poland into the program havepersuaded the White House that it istime to act: President Barack Obamapromised in 2010 that he would makeit a priority to abolish visas for Poles.He reiterated his promise during hisWarsaw visit last year and has lent hissupport to bipartisan legislation toextend the program to Poland.

Congress must actNow, the US Congress must act. Leg-

islation has now been introduced inboth the Senate and the House ofRepresentatives. It’s time for Con-gressional leadership to move aheadwith this long-overdue measure. Byexpanding the Visa Waiver Program,Congress will be both recognizing acrucial US ally and supporting jobcreation at home.

Let’s add to the program thecountry of Polish-American patriotTadeusz KoÊciuszko, charismaticPope John Paul II and fearless cham-pion of liberty Lech Wa∏´sa. Let’senable this generation of Polishtourists to see firsthand all the UnitedStates has to offer, while also con-tributing to America’s future. ●

Tad Taube, honorary consul for the Republic of Poland

in the San Francisco Bay Area, is president of the Koret

Foundation and chairman of Taube Philanthropies.

A version of this piece originallyappeared in Roll Call

T he Polish-American EconomicSummit, scheduled for June20-21 in Warsaw, offers a good

opportunity to take stock of the bilat-eral business relationship. The pic-ture is mixed. On the one hand it fea-tures unquestionable progress. Onthe other, serious challenges toadvance the relationship further,especially in the light of the global cri-sis taking its toll on the transatlanticeconomy. There remains however, aconviction that the prize for overcom-ing these hindrances will be worth theeffort.

Politics trumps economyFor the past two decades, politicaland security cooperation betweenPoland and the United States hastrumped economics. The pulse of therelationship depended largely onissues such as NATO enlargement(more broadly, introducing greaterstability and predictability in the erst-while eastern block), Polish involve-ment in US-led military interven-tions, and most recently on theprospects of Poland hosting US mis-sile-defense installations.

A quick glance at the economicdata says it all. Poland’s long-termeconomic prosperity depends firstand foremost on robust trade and

investment relations with its Euro-pean neighbors and fellow EU mem-bers. Germany is the key export mar-ket, followed by France, the UK, andthe Czech Republic. The volume oftrade in goods and services with theUnited States pales in comparisonwith these countries.

But there is a success story to betold about Polish-American econom-ic cooperation as well. The US gov-ernment played a leading role in cre-ating favorable external conditionsfor Poland’s market reforms in theearliest stages of the transition, andUS investors moved in boldly.According to a 2010 report by theAmerican Chamber of Commerce,Poland served as a genuine gatewayfor American capital entering Cen-tral Europe in the 1990s – over twothirds of the companies chose it as anentry point for a broader regionalstrategy during that period.

The size of the Polish economyand the opportunities offered by thelocal market were enough to offsetthe uncertainty and risk inherent inentering what used to be an emergingmarket economy. They were also suf-ficient to secure Poland the top rankwhen it comes to the total volume ofUS direct investment region-wide.

Two decades later, it is clear that

the benefits are mutual. Americaninvestments’ cumulative volume hov-ers above the $20 billion mark, mak-ing the US the sixth-largest source ofFDI flow to Poland. This resulted inthe creation of roughly 190,000 jobs,with indirect impact on the Polisheconomy certainly much larger.

At the same time, Poland’s stellareconomic performance during the cur-rent global slowdown has earned it agreat deal of attention and trust,including among US companies. Lastyear, Poland was the only EU memberstate outside the euro zone to record anet inflow of US FDI, and was out-paced only by Germany as far as thevolume of new investment is con-cerned. Similarly, even though the Pol-ish-American trade in goods and serv-ices is still rather unimpressive whencompared with either most of Ameri-ca’s partners in Western Europe or keyPolish trade partners, it has kept grow-ing despite the recession.

Economic cloutAs eye-catching as these facts and fig-ures may be, they require a broadercontext in order to fully acknowledgethe significance of this week’s summitin Warsaw. Granted, US-Europeanties cannot and should not bereduced to trade and investment vol-

ume, but it would be equally wrong todismiss the solid, globally unparal-leled community of economic inter-ests that underpins transatlantic rela-tions.

Neither the number nor the sever-ity of the trade disputes between bothpartners can reasonably challengethis assertion. Indeed, if Europe istaken seriously in Washington it isbecause of its economic clout. Thesedays, as the United States is executinga so-called “pivot” to the Asia-Pacificregion, the enduring importance oftransatlantic relations is rarely put inquestion when it comes to economicties.

By the same token, if anyoneexpects Europe and European issuesto meaningfully impact the US presi-dential election, it is because of theuncertainty surrounding the eurozone, the much-feared “Grexit,” andthe domino effect that it could causein the European economy. Perhapscrucially, a Europe mired in recessionwill make it a lot harder for the US todouble its exports by 2015 – a goal setby President Obama two years ago.

Increasingly, and despite relative-ly limited importance of the regionamong the priorities of the US com-mercial diplomacy, this logic appliesto Central Europe, too. Poland is par-

ticularly well placed to act as a lynch-pin for America’s renewed economicinterest in this part of the world. Thepotential for growth and new busi-ness opportunities – in the energysector, manufacturing, IT industries,and many more – is what is driving it.

Although it’s unlikely that the

relationship will be significantlyrecast as a result – cooperation in therealm of security will continue todominate – a greater prominence ofeconomic issues is bound to serve itwell, leading to a broader, more bal-anced and versatile community ofinterests ahead. ●

Bartosz WiÊniewski is a researchfellow at the Polish Institute of Inter-

national Affairs (PISM)pism.pl

PPoolliisshh vviissaa wwaaiivveerr ssuuppppoorrttss UUSS jjoobbss,, kkeeyy aallllyy

“For the past twodecades, political and

security cooperationbetween Poland and the

US has trumpedeconomics”

IItt’’ss pprriimmee ttiimmee ffoorr PPoolliisshh--UUSS eeccoonnoommiicc ccooooppeerraattiioonn Bartosz WiÊniewski

CO-MANAGING EDITORGARETH PRICE([email protected])

CO-MANAGING EDITORALICE TRUDELLE([email protected])

POLITICS EDITORREMI ADEKOYA([email protected])

REAL ESTATE EDITORADAM ZDRODOWSKI([email protected])

SPORTS & LIFESTYLE EDITORDAVID INGHAM([email protected])

JOURNALISTIZABELA DEPCZYKCONTRIBUTORSE. BLAKE BERRYEWA BONIECKAALEX ZARGANIS

COLUMNISTSADAM NARCZEWSKIANDREW NAWROCKIINTERNSANTHONY ADAMSNATALIA KOPYTNIK

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AGNIESZKA BREJWO MARKETING &SALES DIRECTOR([email protected])

MAGDALENA KARPI¡SKA([email protected])

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EWA BROGOSZ-KORYCKA([email protected])

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SUBSCRIPTIONS MANAGERAGNIESZKA MICHALIK([email protected])

PRINT & DISTRIBUTION COORDINATORKRZYSZTOF WILI¡SKI([email protected])

BOOK OF LISTS SPECIALISTJOANNA RASZKA([email protected])

PUBLISHER VALKEA MEDIA SA EDITOR-IN-CHIEF ANDREW KURETH ([email protected]) MANAGING DIRECTOR MONIKA STAWICKA

Editorials are the opinions of WBJ’s editorial board. Other opinions are those of the authors alone. Comments, opinions and letters should be sent to [email protected]. Please include a name and contact information and clearly indicate if they are to be considered for publication.

LLOOKKAALLEE IIMMMMOOBBIILLIIAAW a r s a w B u s i n e s s J o u r n a l ’s w e e k l y s u p p l e m e n t o n r e a l e s t a t e , c o n s t r u c t i o n a n d d e v e l o p m e n t JUNE 18-24, 2012, LI 17/24

LC Corp plans

Katowice

skyscraper

Developer LC Corp plans

to build a skyscraper in

Katowice on a plot of land

it purchased in 2008. The

106-meter-tall structure

will be connected to

another building standing

at 38 meters, providing a

total of 27 floors. The

original plan had

envisaged the

construction of a 223-

meter-tall building,

designed by the

renowned late architect

Stefan Kury∏owicz.

Located at

Al. Roêdzieƒskiego 10,

the plot was purchased

for approximately z∏.80

million.

Holiday Inn

Express in

Wa∏brzychDeveloper Keen

Property Partners (KPP)

has completed

construction on a new

Holiday Inn Express

hotel in Wa∏brzych,

Lower Silesia

voivodship. The facility,

which offers 130 rooms,

opened on June 8, in

time for the kickoff of

the Euro 2012 soccer

championships. The five-

floor Holiday Inn

Express hotel in

Wa∏brzych is part of the

Galeria Victoria retail

complex that KPP Retail

has developed in the

city. The value of the

hospitality component of

the investment

amounted to

approximately €6

million. ●

New Warsaw skyscraper . . . . .15

Wilanów Office Park . . . . . . . . .15

GTC sells offices . . . . . . . . . . . . .15

Airport office locations . . . . . .16

Aquarius financing . . . . . . . . . .16

Property-related stocks . . . . . .16

Apartment prices . . . . . . . . . . . .17

Ronson buys plots . . . . . . . . . . .17

Robyg’s land purchase . . . . . . .17

In this issue

1716

Sites near Poland’s airportsare attracting office builders

Poland has some of the leastaffordable housing in Europe

Skyscrapers

Construction onLiberty Tower setfor August launchAlong with the new Warsawskyscraper, LibertyDevelopment plans to revitalizea key historical area

Liberty Development hopes to begin con-struction on its Liberty Tower in Augustthis year after receiving a series of buildingpermits.

Located adjacent to ul. Grzybowskaand ul. ˚elazna within Warsaw’s CentralBusiness District, the project includes a 26-floor, 140-meter-tall office skyscraper, twolow-rise office buildings and the additionalreconstruction of pre-war historical monu-ments in the surrounding area.

“These historical buildings constitute apriceless monument documenting the his-tory of Warsaw and its Jewish community,”said Max Ebenstein, CEO of LibertyDevelopment Poland.

The area is known as one of the 19 for-mer gates to the Warsaw ghetto and hasbeen listed as a historical monument by theMazowieckie voivodship.

“In collaboration with a local archi-tectural studio specializing in recon-struction and revitalization of historicalmonuments, we have developed a con-ceptual design for the full revitalizationof the ˚elazna buildings,” Mr Ebensteinsaid.

The design of the Liberty Tower wasmade by the Kury∏owicz and Associatesstudio. Earlier plans to build a residentialbuilding designed by New York-based firmCostas Kondylis were dropped.

The company hopes to start under-ground construction this August with thecompletion of the entire complex expectedin August 2014.

AAnntthhoonnyy AAddaammss

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The investment will include a 140-meter-tall skyscraper

Polnord finishes workon Warsaw officesWSE-listed developer Polnordwill deliver the A and B3 phas-es of its Wilanów Office Parkproject in Warsaw in the nextfew weeks. Later this month,the firm also plans to select thearchitectural design of buildingE of the investment.

“Wilanów Office Park istaking shape. This summer ouroffice complex will beenlarged by two new officebuildings – A and B3 – whichwill join the already operatingbuilding B1 – the headquartersof Pol-Aqua,” Polnord vicepresident Micha∏ Âwierczyƒskisaid in a statement.

The two new phases ofWilanów Office Park willdeliver a total of 30,000 sqm ofoffice space. “Tenant interest[in the project] testifies toWilanów becoming a newbusiness location in Warsaw,”Mr Âwierczyƒski said.

Towards the end of thismonth, software producerAsseco, which has bought thewhole of building A, will moveinto the z∏.120-million proper-ty. In July, the over 10,000-sqmbuilding B3, for which Polnordis now trying to secure tenants,will come online.

AAddaamm ZZddrrooddoowwsskkii

GTC sells PlatiniumBusiness Park in WarsawWarsaw Stock Exchange-listeddeveloper Globe Trade Centre(GTC) has announced that twoof its subsidiaries have signedpreliminary agreements for thesale of the Platinium BusinessPark office complex in the Pol-ish capital.

The buyer is a companybelonging to the Allianz Group.The total value of the deal,which is expected to be final-ized later this year, amounts to€173 million and is subject toadjustments when the finalagreements are signed.

The transaction concernsfive completed office buildingswith a total of approximately56,000 sqm of leasable spaceand the land on which they sit.Regardless of the deal, GTCmay still develop a sixth build-ing in the park that will com-prise around 13,000 sqm.

“The net cash proceeds of€60 million from this transac-

tion constitute one third of€180 million of free cashexpected from the announcedassets divestment plan accord-ing to the three-year financial

forecast,” Alain Ickovics,chairman of the supervisoryboard of GTC, said in a state-ment.


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The office park totals around 56,000 sqm of GLA

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Wilanów Office Park

JUNE 18-24, 2012LLOOKKAALLEE IIMMMMOOBBIILLIIAA –– RREEAALL EESSTTAATTEE16 www.wbj.pl

Security Closing % change 52-week 52-week % change Total Marketprice (week) low high (year) shares value

on June 14 (z∏. mln)

BUDIMEX 64.30 -3.60 63.90 92.00 -27.34 25,530,098 1,641.59

CELTIC 13.50 4.25 12.76 22.70 -33.89 34,068,252 459.92

DOMDEV 27.63 -10.58 23.50 50.45 -45.45 24,670,397 681.64

ECHO 3.78 1.89 3.05 5.38 -30.64 420,000,000 1,587.60

ELBUDOWA 90.00 -1.10 87.00 165.00 -42.05 4,747,608 427.28

ENERGOPLD 0.91 -6.19 0.85 3.91 -76.67 70,972,001 64.58

ERBUD 14.80 -0.20 13.71 30.50 -46.57 12,644,169 187.13

GANT 6.25 -0.79 5.85 12.95 -51.55 20,499,953 128.12

GTC 6.30 14.13 5.20 19.48 -67.53 219,372,990 1,382.05

HBPOLSKA 0.22 15.79 0.15 2.31 -90.27 210,558,445 46.32

JWCONSTR 4.29 6.72 3.86 15.20 -71.78 54,073,280 231.97

LCCORP 1.30 0.78 0.85 1.48 -12.75 447,558,311 581.83

MARVIPOL 8.50 3.66 6.20 9.95 -1.62 36,923,400 313.85

MIRBUD 1.00 -2.91 0.99 3.97 -74.49 75,000,000 75.00

MOSTALWAR 13.60 1.42 11.30 32.60 -60.48 20,000,000 272.00

MOSTALZAB 1.02 2.00 1.00 2.73 -64.58 149,130,538 152.11

ORCOGROUP 11.50 -3.77 9.68 33.48 -66.47 35,415,406 407.28

PBG 7.01 5.41 5.40 154.80 -95.45 14,295,000 100.21

PLAZACNTR 2.25 2.27 1.80 4.37 -50.00 297,174,515 668.64

POLAQUA 4.81 -11.74 4.53 18.80 -73.57 27,500,100 132.28

POLIMEXMS 1.06 -7.02 0.78 3.53 -67.18 521,154,076 552.42

POLNORD 13.19 -9.03 10.49 27.26 -52.79 23,798,439 313.90

RANKPROGR 9.97 6.06 7.85 16.97 -23.78 37,145,050 370.34

ROBYG 1.22 2.52 1.04 1.95 -37.76 257,935,500 314.68

RONSON 0.92 -1.08 0.77 1.45 -35.66 272,360,000 250.57

TRAKCJA 0.92 -1.08 0.65 3.13 -68.81 232,105,480 213.54

ULMA 38.89 -5.17 38.89 83.70 -52.69 5,255,632 204.39

UNIBEP 4.81 -0.41 4.47 6.70 -30.29 34,021,684 163.64

WARIMPEX 3.28 -0.61 2.95 8.84 -62.68 54,000,000 177.12

ZUE 6.90 2.53 5.07 11.27 -37.39 22,000,000 151.80

Property-related stocks

Aquarius BusinessHouse financing

Warsaw Stock Exchange-listeddeveloper Echo Investmenthas secured z∏.93.3 million inbank financing from AliorBank which will be earmarkedfor the development of itsAquarius Business Houseoffice project in Wroc∏aw.

“Alior Bank is our newpartner. We are happy to bestarting our cooperation withsuch an interesting project asAquarius Business House,”Grzegorz Iwaƒski, financingdepartment director at EchoInvestment, said in a state-ment.

He added that there was alot of interest in financing thedevelopment. “Alior Bankturned out to be a reliable and

efficient partner in the processand we hope to cooperate onother projects in the future,”Mr Iwaƒski said.

Located at the intersectionof ul. Borowska and ul. Swo-bodna in downtown Wroc∏aw,Aquarius Business Houseconsists of two seven-storeybuildings which will deliver atotal of 25,000 sqm of officespace.

Construction on the firstand the second phase of thedevelopment is scheduled tofinish in November 2012 andSeptember 2013, respectively.Eiffage Budownictwo Mitex isthe contractor of the shell ofthe investment.


Business parks

Significance of airportlocations on the rise: reportThe growth of thePolish aviation marketis creating newopportunities forcommercial spacedevelopers

The dynamic growth of thePolish aviation market willincreasingly be turning com-mercial-space developers’ at-tention to areas surroundingthe country’s major airports inupcoming years, according toa recent report by DTZ.

The company quoted CivilAviation Office forecasts say-ing that the number of passen-gers at Polish airports willgrow from almost 21.7 millionin 2011 to approximately 39

million in 2020, an increase ofmore than 80 percent.

According to DTZ, byadding retail and service serv-ices to their offers airports aregenerating considerable alter-native revenues which allowthem to grow and be morecompetitive than their peers.

Meanwhile, the growth ofairports involves the develop-ment of major road and rail-way infrastructure projectsthat make the facilities and thesurrounding areas far moreaccessible from outside andthus attractive to the develop-ers of commercial space.

“Due to this locationsaround airports are increasingtheir attractiveness for busi-ness as business and retail

clusters,” Anna Staniszewska,consulting and researchdepartment director at DTZ,said in a statement.

According to the DTZstudy, the first Polish airportcity will likely be developednear the Warsaw Chopin Air-port, on 22.5 hectares of landwhich belong to the “PolishAirports” State Enterprise(PPL).

PPL touted the project atthe MIPIM property fair inCannes, France, earlier thisyear and is now in talks withpotential business partners. Alarge commercial develop-ment could also be built alongul. 17 Stycznia, on 10.6hectares of land that is cur-rently looking for an investor.

In the long term, someregional markets, includingthe Tri-city region of Gdaƒsk,Gdynia and Sopot, are alsoexpected to see the emer-gence of airport-related busi-ness areas. In Gdaƒsk, forinstance, construction isalready underway on the45,000-sqm BCB BusinessPark project located near thecity’s Lech Wa∏´sa Airport,DTZ said.


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A preliminary concept of Chopin Airport City

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The project will deliver 25,000 sqm of space

DAILY EXECUTIVE DIGEST

S i g n u p f o r a 2 - w e e k f r e e - t r i a l ! w w w. p o l a n d a m . p lG e r m a n v e r s i o n : w w w. p o l e n a mm o r g e n . p l

Poland A.M. gives you the biggest Polish stories of the day.

Have the most valuable news delivered to your inbox each weekday morning.

JLL’s CEE

corporate

finance line

Jones Lang LaSalle has

announced plans to create

a new corporate finance

business line in Central

and Eastern Europe. The

four-person corporate

finance business team is

expected to handle

professional services

including equity and debt

advisory, consultancy on

mergers and acquisitions

and advice for entities

involved in real estate

financing.

GTC rights

issue

Developer Globe Trade

Centre announced in a

statement that its largest

shareholder, GTC Real

Estate Holdings B.V., a

wholly owned subsidiary

of Kardan N.V., had

exercised all of its pre-

emptive rights in the

company’s rights offering.

GTC is offering 100,000,000

ordinary bearer shares at

z∏.4.45 per share through

a rights issue, with the

aim of increasing liquidity.

Kardan N.V., through its

subsidiary, subscribed to

approximately 27.75

million shares. ●

JUNE 18-24, 2012 LLOOKKAALLEE IIMMMMOOBBIILLIIAA –– RREEAALL EESSTTAATTEE www.wbj.pl 17

Robyg buys more land inWarsaw’s Bemowo districtWarsaw Stock Exchange-list-ed developer Robyg hasacquired a plot of land in thePolish capital’s Bemowo dis-trict on which it plans to builda housing project comprisingapproximately 300 apart-ments. The value of the trans-action amounted to z∏.14 mil-lion.

The newly acquired land islocated near the intersectionof Warsaw’s ul. Po∏czyƒska andul. Powstaƒców Âlàskich andlies adjacent to the Osiedle

Kameralne residential invest-ment that the company is nowdeveloping in the neighbor-hood.

“We are consistently work-ing on enlarging the portfolioof our investments and thepurchase of land in Bemowo isone of our key projects,” Zbig-niew Wojciech Okoƒski, presi-dent of the managementboard of Robyg, said in a state-ment.

He added that substantialbuyer interest and very good

sales results in the OsiedleKameralne development haveconvinced the company thatanother housing investmentin that location will be suc-cessful.

In the first quarter of thisyear, Robyg launched sales ofa total of 386 new apartmentsin Warsaw and Gdaƒsk. As ofMarch 31, the developer wasoffering 1,033 homes. Around1,100 units were under con-struction.


Ronson acquires plots fornew Warsaw projectWarsaw Stock Exchange-listeddeveloper Ronson Develop-ment has signed preliminarypurchase agreements concern-ing the acquisition of two adja-cent undeveloped plots of landon ul. JaÊminowa in the Polishcapital’s Mokotów district.

The plots are sized 36,500sqm and 81,900 sqm and arecovered by a zoning planwhich allows for the develop-ment of multifamily residen-tial space. The prices of thepieces of land have been set at

z∏.25.3 million and z∏.57.7 mil-lion, respectively.

The planned project willcomprise over 700 apartmentstotaling more than 50,000 sqmof usable residential space. “Theproject in Mokotów exemplifiesour strategy of increasing thescale of our operations,” statedAndrzej Gutowski, sales andmarketing director at RonsonDevelopment.

The finalization of thedeals is to take place betweenFebruary 1, 2014 and June 30,

2014 and is contingent on anumber of conditions, includ-ing the conclusion of a legaldispute concerning one of theproperties.

Ronson will now pay 25percent of the price of theland, with the rest of the costexpected to be settled in thefirst half of 2014. By that time,the developer should be ableto launch construction andsales of homes in the plannedinvestment.


Residential prices

HHoouussiinngg eexxppeennssiivveeffoorr PPoolleessIt takes an average of8.5 years for Poles topurchase a 70-sqmapartment

Poles have more difficultyaffording housing than mostin Europe, a recent reportfrom Deloitte has found. Ittakes 8.5 years for an averagePolish citizen to afford a 70-sqm flat. By comparison, itonly takes the average Dane2.4 years to save up enoughfor a similar residence, thereport found.

Warsaw is the most expen-sive city in Poland when itcomes to residential prices,which outweigh Poland’snational average by morethan 50 percent. Transactionprices for new dwellings inWarsaw are the second-high-est in Central and EasternEurope, after Prague.

When compared toWestern Europe however,Warsaw’s transaction price of€1,992 per square meter islow. In cities such as Amster-dam, Copenhagen, Frank-furt, Hamburg and Rome,prices exceed €3,000 persqm. The highest transaction

price per square meter wasrecorded in Paris, where itexceeded €8,000.

“The affordability of ownhousing does not seem tocorrelate significantly withthe economic level of thecountry,” says the report. Itfinds that Belgium, Denmarkand Germany have the mostaffordable housing, whereasthe Czech Republic, Hungaryand Poland are grouped with

France, Italy and the UK,with residences that are lessaffordable.

Despite low levels ofaffordability, recent yearshave seen a decrease inprices in the region. Between2010 and 2011, the biggestdrops across Europeoccurred in Budapest andWarsaw, with prices falling by26.1 percent and 9.9 percentrespectively. AAnntthhoonnyy AAddaammss

0

2

4

6

8

10

Franc

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land

Hunga

ryIta

ly

United

King

dom

Czech R

epub

lic

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ands

Spain

Austr

ia

Belgi

um

German

y

Denmark

2.4

3.13.8

6.1

6.97.3 7.5 7.5

8.3 8.4 8.59.1

Affordable in the northThe average number of years it takes potential buyers in selected European countries to afford a 70-meter apartment

Source: Deloitte

Combining the most in-depth social media knowledge with the sophisticated insights of consumer behavior

*Attention USA clients

www.valkea-attention.com

don’t think so.But these companies

is just a fad. Maybe social media

*

JUNE 18-24, 2012 TTHHEE LLIISSTT www.wbj.pl 19

Travel & Leisure

Passenger Airlines Serving PolandListed alphabetically www.bookoflists.pl

Notes: WND = Would Not Disclose. Research for The List was conduct-ed in January 2012. Number of employees is as of December 2011. Allinformation pertains to the companies’ activities in Poland. Companies notresponding to our survey are not listed.

To the best of WBJ ’s knowledge, the information is accurate as of press time. While every effort is made to ensure accuracy and thoroughness, omissions and typographical errorsmay occur. Corrections or additions to The List should be sent, on official letterhead, to Warsaw Business Journal, attn. Joanna Raszka, ul. Elblàska 15/17, 01-747 Warsaw, via fax to(+48) 22 639-8569, or via e-mail to [email protected]. Copyright 2011, Valkea Media SA. The List may not be reprinted or reproduced in whole or in part without prior written permis-sion of the publisher. Reprints are available.

Company nameAddressTel./FaxE-mailWeb page

Phone number forreservations

Arriving inPoland

DepartingPoland

Summer2011 /

Summer2010

Winter2010 / 2011

Winter2009/2010

Telephone /Online /

Cars

Hotel /Self

check-in

Num

ber

of

countr

ies

serv

ed w

orl

dw

ide /

Num

ber

of

dest

inations

/ N

um

ber

of

dest

inations

serv

ed

dir

ectly

from

Pola

nd

Majordestinationsfrom Poland

Airports servedin Poland

AllianceNumber of

employees /Year founded

Top local executive /

Title

Adria Airwaysul. Marsza∏kowska 28, 00-576 Warsaw22 696-4520/22 [email protected]/poland

22 696-8520

WNDWNDWNDWND

WNDWNDWNDWND

WNDWND

WNDWND

WNDWNDWND

WNDWND

WND25

WND

Ljubljana; Sarajevo;Podgorica; Pristina;

Tirana; Skopje

Warsaw; Katowice;Kraków; Gdaƒsk

Star Alliance2

2006WND

Aer LingusAl. Ujazdowskie 20, 00-478 Warsaw22 626-8402/22 [email protected]

22 626-8402

WNDWNDWNDWND

WNDWNDWNDWND

24WND

26WND

✓✓-

--

22751

Dublin Warsaw; Kraków -7

2004Rados∏aw Grabski

Commercial Manager

Air Canadaul. Marsza∏kowska 28, 00-576 Warsaw22 696-4520/22 [email protected]/poland

22 330-9450

WNDWNDWNDWND

WNDWNDWNDWND

WNDWND

WNDWND

WNDWNDWND

WNDWND

4053

WND

Toronto; Montreal;Vancouver; Calgary;

Ottawa

Warsaw; Katowice;Kraków; Poznaƒ;Gdaƒsk; Wroc∏aw

Star Alliance2

2003WND

Air France SAul. Nowy Âwiat 64, 00-357 Warsaw22 556-6400/22 [email protected]

22 556-6400

WND136,468127,446132,952

WND136,646124,697127,833

5454

5454

✓✓✓

✓✓

1061831

Paris; Havana; NewYork; Rio de Janeiro;

ChicagoWarsaw Sky Team

WND1954

David GarciaHead of Representation

Alitalia Compagnia Aerea Italiana SA - Oddzia∏ w Polsceul. Nowy Âwiat 64, 00-357 Warsaw22 556-6800/22 [email protected], www.alitalia.pl

801-107-700

WNDWNDWNDWND

WNDWNDWNDWND

17WND

7WND

✓✓✓

✓✓

39773

Rome; Milan;Venice; Barcelona;

Buenos AiresWarsaw Sky Team

WND2009

George AthanassiouCountry Manger

Belavia Belarusian Airlines Poland BranchAl. Ujazdowskie 6A/111, 00-461 Warsaw22 628-3887/22 [email protected]

22 628-3887

WNDWNDWNDWND

WNDWNDWNDWND

43

43

WNDWNDWND

WNDWND

283010

Amsterdam; Baku;Beirut; Berlin;

LondonWarsaw WND

11993

Yuri SobolevGeneral Manager

British Airwaysul. Marsza∏kowska 76, 00-517 Warsaw22 529-9000/22 628-6341www.ba.com

22 529-9000

WNDWNDWNDWND

WNDWNDWNDWND

2842

2842

✓✓✓

✓✓

756001

London Warsaw

Oneworld;Transatlantic

Joint BusinessAgreement

151959

Anna InghamDirector CEE

Brussels Airlinesul. ˚wirki i Wigury 1, 00-906 Warsaw22 650-3999/22 [email protected]

22 650-3999

WNDWNDWNDWND

WNDWND

69,20379,515

WND30

WND30

✓✓-

-✓

WND702

Brussels; Madrid;Lisbon; Porto;

Barcelona; Luanda;Entebbe; Dakkar;Nairobi; New York

Warsaw; Kraków IATA7

2002Jaros∏aw Nowicki

General Director for Poland

China Airlinesul. Marsza∏kowska 28, 00-576 Warsaw22 696-4520/22 [email protected]/poland

22 696-8520

WNDWNDWNDWND

WNDWNDWNDWND

WNDWND

WNDWND

WNDWNDWND

WNDWND

2784

WND

Talpei; Denpasar;Bangkok; Jakarta;

Kuala Lumpur;Hanoi; Hong Kong;Manila; Sydney;

Brisbane

Warsaw; Katowice;Kraków; Gdansk;Poznaƒ; Wroc∏aw

Dynasty Flyer2

2006WND

DD Air Travel-Malév Hungarian Airlines GSAAl. Jana Paw∏a II 15, 00-828 Warsaw22 697-7171/22 [email protected]

22 697-7171

WNDWNDWNDWND

WNDWNDWNDWND

1313

1313

WNDWNDWND

WNDWND

WNDWNDWND

Beirut; Damascus;Tel Aviv; Ammam;Thessaloniki; Tirana

WND OneworldWND1957

Dominika DomagalskaGeneral Manager

Deutsche Lufthansa SA - Oddzia∏ w PolsceAl. Jana Paw∏a II 29, 00-867 Warsaw22 338-1300/22 338-1301www.lufthansa.com

801-312-312

WNDWNDWNDWND

WNDWNDWNDWND

226WND

WNDWND

✓✓✓

✓✓

791877

Frankfurt; Chicago;London; New York;

Tokio

Warsaw; Katowice;Kraków; Wroc∏aw;Poznaƒ; Gdaƒsk;

Rzeszów

Star Alliance;IATA

WND1971

Bart BuyseGeneral Director

Finnair SAul. Prusa 2, 00-469 Warsaw22 650-3922www.finnair.com

22 650-3922

WNDWND

52,00062,000

WNDWND

52,00062,000

4446

4442

✓✓✓

✓✓

26721

Beijing; Shanghai;Hong Kong;

Bangkok; Delhi;Chongqing

Warsaw; Kraków;Gdaƒsk

OneworldWND1973

Juhani NuoramoCEE Sales Director

KLM SAul. Nowy Âwiat 64, 00-357 Warsaw22 556-6444/22 [email protected]

22 556-6444

WND94,42590,352111,520

WND93,73893,675114,825

4242

4242

✓✓✓

✓✓

1061521

Amsterdam; NewYork; Chicago;Nairobi; Lima

Warsaw Sky TeamWND1956

David GarciaHead of Representation

Polskie Linie Lotnicze LOT SAul. 17. Stycznia 39, 00-906 Warsaw22 606-6111/22 [email protected]

801-703-703

1,707,3601,592,0861,455,5121,575,106

1,693,6441,579,2121,446,0931,556,195

1,0311,043

994938

✓✓✓

✓✓

345858

Chicago; New York;Toronto; Hanoi;

London; Frankfurt;Munich

Warsaw; Gdaƒsk;Szczecin; Poznaƒ;

Wroc∏aw; Katowice;Kraków; Rzeszów;

Bydgoszcz

IATA; StarAlliance; AEA;

BARIP

2,2001929

Marcin PirógPresident

Ryanair Ltd.Dublin Airport, Co, Dublin Ireland Dublin0044 1279 666-277/0044 1279 666-201www.ryanair.com

+363-1-609-7800

WNDWNDWNDWND

WNDWNDWNDWND

WNDWND

WNDWND

✓✓✓

✓✓

271609

London; Dublin;Brussels; Frankfurt;

Milan

Wroc∏aw; Poznaƒ;Rzeszów; Szczecin;Kraków; Gdaƒsk;¸ódê; Bydgoszcz;

Katowice

-WNDWND

WND

Scandinavian Airlines System (SAS)- Oddzia∏ w PolsceAl. Jana Paw∏a II 29, 00-867 Warsaw22 850-0500/22 [email protected], www.flysas.pl

22 850-0500

WNDWNDWNDWND

WNDWNDWNDWND

126WND

WNDWND

✓✓-

-✓

301273

Copenhagen;Stockholm; Oslo;

London; Paris

Warsaw; Gdaƒsk;Poznaƒ; Wroc∏aw;

KatowiceStar Alliance

371956

Wanda BrociekGeneral Director

Swiss International Air Lines SA - Oddzia∏ w PolsceAl. Jana Paw∏a II 29, 00-867 Warsaw22 520-3456/22 [email protected]

22 520-3456

WNDWNDWNDWND

WNDWNDWNDWND

4224

4224

✓✓✓

✓✓

3872

WND

Zürich; New York;Bangkok; Dubai; San

FranciscoWarsaw

Star Alliance;IATA

WND2002

Bart BuyseDirector

Turk Hava Yollari SA - Oddzia∏ w Polsce (Turkish Airlines)Al. Jerozolimskie 123A, 02-017 Warsaw22 529-7700/22 [email protected], www.turkishairlines.com

22 529-7700

WNDWND

29,26027,369

WNDWND

27,83526,290

44

44

✓✓-

✓✓

WND1601

Turkey; Middle East;Asia; Africa

WarsawIATA; StarAlliance

82000

Mete AkandereDirector

2011 / 2010 / 2009 / 2008

Number of flights per week

Number of passengers Reservation

JUNE 18-24, 2012MMAARRKKEETTSS20 www.wbj.pl

SO

UR

CE

: W

SE

PLN-EUR

4.30

78

4.29

22

4.32

22

4.33

10

4.32

07

4.29

25

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

64.20

4.35

4.50 PLN-USD

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

6

3.45

66

3.40

72

3.45

52

3.45

91

3.44

20

3.39

71

3.2

3.5

3.8 PLN-GBP

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

65.20

5.45

5.70

5.32

85

5.30

20

5.35

52

5.38

61

5.32

89

5.27

72

PLN-CHF

3.58

70

3.57

34

3.59

87

3.60

57

3.59

77

3.57

40

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

63.5

3.7 PLN-RUB

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

6

0.10

51

0.10

41

0.10

52

0.1

059

0.10

55

0.10

46

0.1

0.11 PLN-100JPY

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

15.0

64.0

4.8

4.36

43

4.28

41

4.33

98

4.34

51

4.33

94

4.30

39

currency rates

A calm(er)week

Currency report

After weeks of high volatili-ty, this past week was muchcalmer for investors on cur-rency markets. After strongcorrective movements, mar-kets turned around and fin-ished at the levels theybegan trading on Monday.Macro news showed that theUS economy is slowingdown.

At the same time, theMoody’s rating agencydowngraded Spain’s andCyprus’ debt by three andtwo notches respectivelywith a negative outlook(indicating further down-grades are possible). Mar-kets ignored most of thatdata and as WBJ went topress, were anxiously await-ing Sunday’s elections inGreece, which could be deci-sive for the direction of cur-rencies over the next coupleof weeks.

The EUR/USD openedthe week high at $1.2665,before declining to its weeklylow of $1.2442. A strong runtowards the end of the weekhelped the largest currencypair to rebound just belowthe $1.26 area by Friday. Onthe local market, CPI infla-tion grew by 3.6 percent inMay (annualized), lowerthan the previous month’s 4percent reading. The z∏otyremained rather stable withno major moves. TheEUR/PLN traded in thez∏.4.25-4.35 range throughoutthe week, finishing at z∏.4.29while the USD/PLN, afterreaching its weekly high ofz∏.3.49, declined to finish theweek at z∏.3.40.

This week we are hopingfor positive news from theG20 meeting and that theFed will introduce additionalstimulus. ●

Adam NarczewskiX-Trade Brokers DM SA

SO

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: N

BP

Major indices

Top 5 Closing % change (week) 52-week high 52-week low

ATREM 5.88 36.74 14.36 3.80SADOVAYA 4.72 27.57 11.76 3.41MOSTALPC 14.08 24.27 38.50 10.35MAKARONPL 2.87 22.65 6.70 2.31PELION 28.50 20.25 51.75 23.01

WIG 39,286.64 (June 14 close)

Change for the week: 4.19% 52-week high: 49,747.78

Change year to June 14: 2.53% 52-week low: 36,549.47

Top 5 Closing % change (week) 52-week high 52-week low

GTC 6.30 20.69 19.50 5.13LOTOS 25.77 11.56 47.50 21.30KGHM 142.60 9.36 199.60 102.40BRE 285.00 8.41 338.50 203.30TAURONPE 4.70 8.29 6.81 4.10

Bottom 5 Closing % change (week) 52-week high 52-week low

ROVESE 1.98 -41.25 11.00 1.98ONE2ONE 0.47 -17.54 5.05 0.45BBIZENNFI 0.35 -16.67 0.92 0.34RESBUD 15.40 -15.75 70.00 2.88ELEKTROTI 8.30 -15.31 11.90 6.49

Bottom 5 Closing % change (week) 52-week high 52-week low

GETIN 1.54 -10.47 13.56 1.47POLIMEXMS 1.06 -7.02 3.55 0.77CEZ 123.40 -3.29 148.50 116.10PKOBP 32.33 -1.13 43.75 27.95PGE 18.79 -0.58 24.98 15.98

WIG20 2,207.85 (June 14 close)



mWIG40 2,234.22 (June 14 close)



sWIG80 9,292.92 (June 14 close)



NewConnect 36.74 (June 14 close)

Change for the week: 0.14% 52-week high: 56.98

Change year to June 14: -11.45% 52-week low: 36.59

WIG-Banki 5,566.53 (June 14 close)



DJIA12,651.91 (June 14 close)

1.53% (for the week)

CHANGE: 0.51%

(year to June 14)

52-week high: 13,359.60

52-week low: 10,362.30

NASDAQ2,836.33 (June 14 close)


CHANGE: 6.88%

(year to June 14)

52-week high: 3,134.17

52-week low: 2,298.89

S&P5001,329.10 (June 14 close)


CHANGE: 2.97%

(year to June 14)

52-week high: 1,422.38

52-week low: 1,074.77

FTSE1005,467.00 (June 14 close)


CHANGE: -4.42%

(year to June 14)

52-week high: 6,084.10

52-week low: 4,791.00

DAX6,138.61 (June 14 close)

-0.09% (for the week)

CHANGE: 1.13%

(year to June 14)

52-week high: 7,523.53

52-week low: 4,965.80

NIKKEI2258,568.89 (June 14 close)


CHANGE: 0.93%

(year to June 14)

52-week high: 10,255.20

52-week low: 8,135.79

world stock indices

36,000

36,800

37,600

38,400

39,200

40,000

17.0

5

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

2,000

2,060

2,120

2,180

2,240

2,30017

.05

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

2,000

2,100

2,200

2,300

2,400

2,500

17.0

5

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6 8,000

8,400

8,800

9,200

9,600

10,000

1 1 2 2 2 2 2 2 2 3 3 0 0 0 0 0 1 1 1 1

17.0

5

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

35

36

37

38

39

40

17.0

5

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

5,100

5,240

5,380

5,520

5,660

5,800

17.0

5

18.0

5

21.0

5

22.0

5

23.0

5

24.0

5

25.0

5

28.0

5

29.0

5

30.0

5

31.0

5

01.0

6

04.0

6

05.0

6

06.0

6

08.0

6

11.0

6

12.0

6

13.0

6

14.0

6

Other indices

Stocks havestrong showing

Stocks report

Polish stocks opened lastweek much stronger thantheir European peers. OnMonday, despite Spanishbond yields rising on con-cerns of a debt crisis in Spain,investors got relief as a €100billion deal to shore up Span-ish banks was revealed.Though indices throughoutEurope closed mixed asdetails of the deal provedscarce, both the overall WIGand the blue-chip WIG20managed to gain more thanhalf a percent.

Shares continued to climbin Warsaw on Tuesday, mark-ing the fourth-straight day ofrises. Spanish bond yieldscame off euro-era recordhighs, though investors strug-gled for clarity over the Span-ish bank deal. The WIG20outperformed its Europeancounterparts, closing 2.25percent higher.

On Wednesday, a slew ofdisappointing economic andcorporate data led shareslower, with investors cashingin on the recent mini-rally.Both the WIG and WIG20shed nearly a quarter of apercent, though shares ofGTC continued their impres-sive climb, gaining an addi-tional 1.5 percent.

On Thursday, shares werelittle changed despite Spanishbond yields nearly reaching 7percent a day after Moody’slowered Spain’s credit rating.Both the WIG and WIG20shed about 0.10 percent.

But feel-good moods wereback on Friday across Europe,as markets were confident ofa win for New Democracy inthe Greek elections. TheWIG and WIG20 followedthe trend, posting strong risesof 1.15 percent and 1.16 per-cent respectively. ●

Andrew Nawrocki WBJ market analyst

JUNE 18-24, 2012 SSPPOORRTTSS www.wbj.pl 21

Euro 2012

AA wweeeekk ttoo rreemmeemmbbeerrSparkling soccer andgripping historicalsub-plots haveenthralled a continent

The first week of Euro 2012was one of the best ever in thetournament’s recent history,serving up some top-class soc-cer and drama of the highestorder.

As WBJ went to press, Por-tugal’s 3-2 defeat of Denmarkhad been the only game toapproach “classic” status, butalmost every other had beengripping in its own right – forhistorical as well as for foot-balling reasons.

Historic tiesAs is so often the case in Euro-pean championships, historicrivalry has been a major themeof the tournament, with sever-

al games stirring memories ofpast wrongdoing.

“More than a game” wasthe headline in Rzeczpospoli-ta ahead of last Tuesday’smatch in Warsaw betweenPoland and highly fanciedRussia, pointing to feelingsof historical enmity that wereto boil over into violence offthe pitch. By a quirk of coin-cidence the match was alsoplayed on Russia Day,although as it turned out itwas as much Poland’s day asRussia’s. The host’s JakubB∏aszczykowski became anational hero by scoring whathas so far been the goal ofthe tournament to earnPoland a 1-1 draw.

Germany’s game againstthe Netherlands was anothergrudge match that evokedfeelings and memories thatwent far beyond soccer. Ger-many won that match 2-1,

playing with an authority thatwas greater than the scorelinesuggested.

Perhaps the biggest out-pouring of emotion wasreserved for Ukraine, whereveteran striker AndriyShevchenko turned back theclock with two superbly takengoals to earn Ukraine a 2-1victory over Sweden that sentKiev delirious with delight.

Getting serious England was one of the fewsides to draw criticism for neg-ative play in the first week,with former Germany captainMichael Ballack slamming theEnglish team for “parkingthree buses” in front of theirgoal to help secure a 1-1 drawagainst France.

Overall though creativemidfields have been the orderof the day, with both Ger-many and (no surprises)

Warsaw’s 38-7 winover Poznaƒguarantees them atleast a second-placeregular-season finish

The Warsaw Eagles sewed upa home-field playoff game andat least the number-two seedin the Topliga playoffs with asound defeat of Koz∏y Poznaƒon June 10, 38-7.

The Eagles remained unde-feated against the Koz∏y(Goats), with seven wins all-time against the team fromPoznaƒ. Tight end GrzegorzJaniak starred for the Eagles,pulling in three of quarterbackKevin Lynch’s four touchdownpasses.

Two of those touchdownscame in the first quarter, dur-

ing which Mr Janiak caughtscoring passes of 30 and 15yards to give the Eagles anearly 14-0 lead. Safety NormanSeignious then scored his sec-ond defensive touchdown ofthe season to make it 21-0after a quarter, and ClaudeTindong’s second-quartertouchdown reception made it28-0 at the half.

The Koz∏y got their onlypoints of the game in the thirdquarter, on a 50-yard intercep-tion return for a touchdown byJakub Kowalczyk. With thescore 31-7, Mr Lynch cameback out after being rested formuch of the third quarter, andhe quickly put the game awaywith his third touchdown passto Mr Janiak.

The Eagles are now in sec-ond place, a game behind the

Gdynia Seahawks and a gameahead of the Wroc∏aw Devils.They hold the tiebreakeradvantage over both teams,meaning the Devils cannotcatch them with only a game toplay. However, a win nextweek for Warsaw and a loss bythe Seahawks would give theEagles the top playoff seed.

In the other games over theJune 9-10 weekend the Sea-hawks took care of the slump-ing Devils 43-28 for their sev-enth straight win, while theSilesia Rebels trounced theKraków Tigers 65-0. Withtheir win, the Rebels took solepossession of fourth place andlook likely to nab the finalplayoff spot. The Tigers havebeen eliminated from playoffcontention.

AAZZ,, AAKK

Euro 2012 match schedule

On to the knockout stagesThere are two days left ofgroup-stage play before thequarterfinals begin. Below isthe schedule of the remain-ing games. None of the quar-terfinal participants hadbeen decided as WBJ went topress.

Monday, June 18 (Group C) Croatia vs Spain – 8:45 pm,PGE Arena, GdaƒskItaly vs Republic of Ireland –8:45 pm, Municipal StadiumPoznaƒ

Tuesday, June 19(Group D)England vs Ukraine – 8:45 pm,Donbass Arena, Donetsk

Sweden vs France – 8:45 pm,Olympic Stadium, Kiev

QQuuaarrtteerrffiinnaallss

Thursday, June 21(Quarterfinal 1)Winner of Group A vs Run-ner-up of Group B – 8:45 pm

Friday, June 22 (Quarterfinal 2)Winner of Group B vs Run-ner-up of Group A – 8:45 pm

Saturday, June 23(Quarterfinal 3)Winner of Group C vs Run-ner-up of Group D – 8:45 pm

Sunday, June 24

(Quarterfinal 4)Winner of Group D vs Run-ner-up of Group C – 8:45 pm

SSeemmiiffiinnaallss

Wednesday, June 27(Semifinal 1)Winner of Quarterfinal 1 vsWinner of Quarterfinal 3 –8:45 pm

Thursday, June 28(Semifinal 2)Winner of Quarterfinal 2 vsWinner of Quarterfinal 4 –8:45 pm

FFiinnaallWinner of Semifinal 1 vs Win-ner of Semifinal 2 – 8:45 pm ●

CO

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TE

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WS

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Eagles’ running back Piotr Osuchowski breaks a tackle in Warsaw’s 38-7 win over

Koz∏y Poznaƒ. The team now has a shot at gaining the first seed in the playoffs

American football

WWaarrssaaww EEaagglleess cclliinncchhhhoommee--ffiieelldd ppllaayyooffff ggaammee

Spain excelling in that area,while the tournament alsohasn’t been short of goals.

The championships arenow beginning to get serious,and as the knockout stagesbegin, the tension is set to becranked up another notch.

GGaarreetthh PPrriiccee

SH

UT

TE

RS

TO

CK

Andriy Shevchenko’s two goals against Sweden sent

Ukraine fans into a joyous frenzy

JUNE 18-24, 2012LLIIFFEESSTTYYLLEE22 www.wbj.pl

Duran Duran in concertJune 25, 8 pmEuro 2012 Fan ZoneRynek Pl. Go∏´biWroc∏aw

Wroc∏aw’s Euro 2012 fan zonewill be greeted on June 25 byfamous British New Wave bandDuran Duran, to the delight offans of 1980s popular music.

The band was formed inBirmingham in 1978 andplayed a part in developing anew sub-genre in the world ofrock, incorporating elementsof electronic and experimentalmusic with punk rock.

The elegant and sleek

image of theband, createdby ad hoc fash-ion designers,gave them thereputation ofbeing “the pret-tiest boys inrock.” Theband’s appealallowed it tosell over 70 mil-lion records overalmost 40 years.

The band will be promotingtheir latest album “All YouNeed Is Now,” along with play-ing their greatest hits like “Ordi-nary World” and “Hungry Like

The Wolf” as part of theirEurope-wide tour, which is setto continue until the end of July.

AAnntthhoonnyy AAddaammssTickets cost z∏.89-150 and

are available at ticketpro.pl

Concert

8800ss ffeevveerr iinn WWrroocc∏∏aawwAsphaltJune 19-July 1Center for Contemporary Artat Ujazdowski Castleul. Jazdów 2Warsaw

If you are looking for somerelief from all the Euro 2012commotion, then the Centerfor Contemporary Art will befeaturing its own unique Pol-ish-Ukrainian exchange till theend of the month.

Zhanna Kadyrova’s exhibi-tion “Asphalt” is bemusing –somehow, blocks of asphaltfrom Kiev’s streets are intend-ed to constitute art – but itworks like a charm.

As a young start-up artist,Ms Kadyrova’s work trans-forms mundane and often

unnoticed urban elements liketarmac and fragments of con-crete to form minimalisticobjects that imposingly standout and redefine their useful-ness in the viewer’s mind.

Many of the objects presentin the exhibition have beentaken directly from renovationworks in Kiev ahead of theEuro 2012 tournament.

The two-week exhibition,part of the PROJECT ROOMinitiative, is sponsored throughthe museum’s partnership withBank Pekao, which aims torevitalize discussion and pro-mote aspiring artists, like MsKadyrova.

AAnntthhoonnyy AAddaammssFor more information,

log on to csw.art.pl

Art exhibition

UUkkrraaiinniiaann AAsspphhaalltt??

La TraviataJune 22-30Teatr Wielki Plac Teatralny 1Warsaw

Since its Venetian premiere in1853, Giuseppe Verdi’s mas-terpiece, “La Traviata” hasbecome one of the most per-formed operas of all time, sec-ond only to Mozart’s “The

Magic Flute.” Inspired byAlexander Dumas’ novel “Ladame aux Camélias,” “LaTraviata” tells the tragic lovestory of Violetta, an ailing yetbeautiful Parisian courtesan,and Alfredo, a young noble-man who defies his family bychasing after her.

Mariusz Treliƒski’s produc-ton brings this classic tale tothe stage in a contemporary

setting, with Joanna WoÊ andPavlo Tolstoy in the lead roles.With accompaniment from thePolish National Opera andDancers and the Teatr Wielkiorchestra, “La Traviata” isbound to charm Warsaw asmuch as it did in Venice over acentury ago.

NNaattaalliiaa KKooppyyttnniikkFor more information,log on to teatrwielki.pl

Opera

CCoonntteemmppoorraarryy ttwwiisstt

Acquisitions 2010-2011June 5-September 13Wawel Royal CastleKraków

The Wawel Royal Castle inKraków has opened a newexhibition highlighting themuseum’s acquisitions fromthe past two years. Over 150items were purchased ordonated to the museum,including various paintings,jewelry, porcelain and otherhistorical items. Some of themost notable include the so-

called Kodeƒ Gallery – apainted genealogy of nine gen-erations of the Sapieha familymade up of 72 portraits com-missioned by Jan FryderykSapieha in about 1709 for theChurch of St. Anne in Kodeƒ.

Among the artworks areportraits of Vincenzo I Gonza-ga, duke of Mantua, as well asthe Austrian archduke, lateremperor, Ferdinand III. Thereare also two still-lifes by Marti-no Altomonte, court painter toJan III Sobieski. Various silverand gold vessels of Polish

craftsmanship from the 17th

and 18th centuries are also ondisplay, along with richBaroque jewelery. This addi-tional exhibition focusesspecifically on the art and cul-ture of Old Poland, as exem-plified by the so-called Sarma-tian era, which reached itsapogee in the 17th century.

Tickets are z∏.4, free if pur-chased with admission to thecastle.

NNaattaalliiaa KKooppyyttnniikkFor more information,

log on to wawel.krakow.pl

Exhibition

Old Poland, new acquisitions

Centre for ContemporaryArt at Ujazdowski Castle ul. Jazdów 2www.csw.art.pl

Czarna Gallery ul. Marsza∏kowska 4www.czarnagaleria.art.pl

Galeria 022, DAP, Lufcik ul. Mazowiecka 11awww.owzpap.pl

Galeria 65 ul. Bema 65www.galeria65.com

Galeria Appendix 2ul. Bia∏ostocka 9www.appendix2.com

Galeria Asymetria ul. Nowogrodzka 18awww.asymetria.eu

Galeria Foksal ul. Foksal 1-4www.galeriafoksal.pl

Galeria Milano Rondo Waszyngtona 2A (Praga)www.milano.arts.pl

Galeria Schody ul. Nowy Âwiat 39www.galeriaschody.pl

Galeria XX1 Al. Jana Paw∏a II 36www.galeriaxx1.pl

Galeria Zoya ul. Kopernika 32 m.8www.zoya.art.pl

Green Gallery ul. Krzywe Ko∏o 2/4www.greengallery.pl

Katarzyna Napiórkowska Art Galleryul. Âwi´tokrzyska 32, ul.Krakowskie PrzedmieÊcie 42/44and Old Town Square 19/21www.napiorkowska.pl

Królikarnia National Galleryul. Pu∏awska 113awww.krolikarnia.mnw.art.pl

Le Guern Galleryul. Widok 8, www.leguern.pl

Museum of IndependenceAleja SolidarnoÊci 62www.muzeumniepodleglosci.art.pl

National Museum in Warsaw Al. Jerozolimskie 3www.mnw.art.pl

Polish National Opera atTeatr WielkiPl. Teatralny 1www.teatrwielki.pl

Pracownia Galeriaul. Emilii Plater 14www.pracowniagaleria.pl

Rempex Art and Auction Houseul. Karowa 31www.rempex.com.pl

Royal CastlePl. Zamkowy 4www.zamek-krolewski.com.pl

Simonis Galleryul. Burakowska 9www.simonisgallery.com

State ArchaeologicalMuseum in Warsawul. D∏uga 52 (Arsena∏) www.pma.pl

State Ethnographic Museumul. Kredytowa 1www.ethnomuseum.website.pl

Historical Museum of Warsaw Old Town Square 28-42www.mhw.pl

History Meeting House of Warsaw ul. Karowa 20www.dsh.waw.pl

Warsaw Philharmonic ul. Jasna 5www.filharmonia.pl

Warsaw Rising Museum ul. Grzybowska 79www.1944.pl

Wilanów Palace Museumand Wilanów PosterMuseumul. St Kostki Potockiego 10/16www.milanow-palac.plwww.postermuseum.pl

Zachęta National Art GalleryPl. Ma∏achowskiego 3www.zacheta.art.pl

Museums, galleries and venues in Warsaw

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There’s been much ado in the techworld recently, what with E3 kickingoff the month and the Apple World-wide Developers Conference(WWDC) held last week. Unfortu-nately the word which best describesboth events is “underwhelming.”

We covered E3 last time, so let’stalk about WWDC. If you’re unfamil-iar with it, all you really need to knowis that WWDC is the Cupertino-basedfirm’s annual self-congratulation fest.It is planned by some of the world’smost talented control freaks, executedmore slickly than a seagull in an oilspill and attended by a small horde of

unctuous, segway-humping fanboys. Quintessential Apple, in other

words. WWDC 2012 brought the unveil-

ing of iOS 6, a new iteration ofApple’s mobile operating system.Among other things, version six addsan e-ticket app, an update to person-al-assistant software Siri, better Face-book integration and iOS 6 Maps, anew map and navigation application.That last one is basically Apple’s wayof saying “bite me” to Google Maps(which will disappear from futureApple products).

Other than iOS 6, the firm also

showed off OS X Mountain Lion, itslatest desktop/server operating system,and a couple of MacBook Air and Promodels with updated tech specs.

Yawn.The only thing of real interest was thenew MacBook Pro with Retina dis-play. This 15-inch notebook is almostas svelte as its cousin, the Air, andcomes in two variants (each upgrade-able, for a price) that pack some veryrespectable hardware: a 2.3/2.6 GHzquad-core Intel Core i7 processor, 8GB of memory and 256/512 GB offlash storage with an NVIDIAGeForce GT 650M graphics card.That’s not to mention the 220 pixel-per-inch Retina display, which makestoday’s HD TVs look like a bunch ofugly step-sisters.

The MacBook Pro with Retinadisplay is already on sale, starting at$2,199 and $2,799.

And that waspretty much it fromWWDC 2012. Yes,there were awards,networking oppor-tunities and a rous-ing lunch with “StarTrek: The NextGeneration” alum-nus LeVar Burton,but was it really

enough to warrant a five-day event?Not really, in Techeye’s opinion,though there’s a small horde of unctu-ous, segway-humping fanboys thatwould probably beg to differ.

In any case, we’re not inclined tospend more words on WWDC, solet’s have a quick look at the Vinci TabII (Vincigenius.com). Unlike theaverage Apple product, which isingeniously designed for use by adults,the Vinci Tab II has been designed to“inspire the genius” in children.

The Tab II is available in two mod-els which are mainly distinguished bythe presence or absence of WiFi capa-bility. Both are equipped with batter-ies estimated to last eight hours, Cor-tex A8 1.2 GHz processors and 8 GBof internal storage. The WiFi-capablemodel costs $249 ($50 more than itssibling) and has access to the Android

app market.Hardware is only half of the offer,

though. There’s also Vinci Curricu-lum, a set of developmental apps forkids. These are a bit pricey, to be hon-est, and Techeye hasn’t checked themout in-depth, so we’re not going tovouch for quality.

Also, be aware that the originalVinci Tab had decidedly mixedreviews from consumers, so caveatemptor and all that. On the otherhand, the second-generation Tabseems to have dealt with some of itspredecessor’s bugbears and is a lessexpensive by a third.

Is it on par with, say, Apple’s iPad?No way. But it’s cheaper, kid-friendly,designed to educate and its maker islearning from its mistakes. That’s awelcome sign. ●

JUNE 18-24, 2012 LLAASSTT WWOORRDD www.wbj.pl 23

Apple expresses self-love at humdrum WWDCTech Eye

Ever lunched with a “Star Trek: The Next Generation” alumnus? Let us know: [email protected]

To order a print copy or digital version of the publication, e-mail [email protected]

or call +48 (22) 639 85 67, ext. 208

Warsaw Business Journal’shugely popular investment guide

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WBJ #24 2012

Documents

Transcript of WBJ #24 2012