Business

Holland's Ronson Company, a housing builder that has done several projects in Warsaw and wants to expand in Poland, will make an initial public offering on the Warsaw Stock Exchange soon.

Mittal Steel Co., the world's largest steel producer, is now the sole owner of the Nowa Huta steelworks.

The University of Science and Technology (AGH) in Krakow ? the biggest technical university in Poland ? has a new pavilion worth 7 mln zloty. The new building belongs to the Department of Telecommunications and was opened on Oct. 24 thanks to the financial help of the Ministry of Science and Higher Education.

The state-owned airport group Panstwowe Porty Lotnicze (PPL) will be restructured as a limited company. The matter is to reach the Ministry of Transport as soon as it will be possible.

Property ownership will not be under threat should Poland accept the Charter of Fundamental Rights of the EU. Mark Gray the spokesman for the European Commission stated on Friday Article 51 of the Charter "clearly states that the Charter only binds Member States in those situations, which are regulated by the EU."

Poland has the highest number of retirees in all of the EU. Within the last seven years over 360,000 people have entered the retirement age in Poland. The Social Security Office (ZUS) has had to add a further 1.2 mln pensions to its retirement payout budget within this period.

The EU's need for 20 mln highly qualified employees in the next two decades has been widely reported.

It is estimated Poland's gross domestic product would rise annually by 150 bln zloty, if cash-in-hand workers were to disclose their wages.

Finance Minister Zyta Gilowska says Poland will adopt the euro as its currency in 2012, an announcement that should end European Union irritation over what it viewed as Polish foot-dragging on the conversion.

A Polish subsidiary of the Ukrainian industrial conglomerate Donbas will become the owner of the famed Gdansk Shipyard by the end of the year.