state of play: 08/10/2018

STATE OF PLAY ECONOMY: Who Earned the Most This Week, Pomaska on Plastics, FOR on How Technology Creates New Markets, Kantar for ORLEN: 87% Encouraged by Products Being Polish

Łukasz Mężyk

Agnieszka Pomaska for 300. After Reading This Text, You Will Examine Every Package Meticulously
  • Substances harmful to our health can be found in a wide variety of products we encounter daily. These include cleaning agents, toys, furniture, and, importantly, food packaging. This time, I want to draw your attention specifically to food packaging, both because we interact with it every day and because it's the easiest habit to change.
  • So, pick up any plastic packaging and check the number inside the characteristic recycling triangle ♻.
  • If this is the first time you're hearing about this today, it doesn't mean the problem is insignificant. This situation reminds me of the lack of awareness regarding the harmfulness of smoking, not so long ago. Just a few decades ago, people smoked everywhere: on planes, in restaurants, TV studios, and even during parliamentary committee meetings. Today, everyone knows smoking is harmful, and quitting smoking is more fashionable than publicly displaying a cigarette. While breaking free from plastic in our daily lives might be much more challenging, it doesn't mean we can't slightly reduce its production and use. For the benefit of the environment and ourselves.
  • MORE - ON 300POLITYKA
Agnieszka Pomaska saw on the "Stan Gry" author's Instagram a scooter laden with shopping bags and wrote that she hoped they were at least for cleaning up after dogs. This sparked a discussion that resulted in this text. The Civic Platform MP has for years been fascinated by new urban politics and promoting respect for public space.
ORLEN Increases the Presence of Polish Products at its Stations. According to a Kantar Study for PKN, Over 70% of Poles Consciously Choose Goods Produced by Small, Family-Run Businesses Supporting Local Development
  • Polish products are now available at over 50% of ORLEN stations. PKN aims to support Polish fruit growers and plans to increase purchases of juices from Polish producers by 150%. Juices are already stocked at 80% of ORLEN's own stations.
  • - We see enormous potential for developing retail sales towards products from Polish manufacturers. Therefore, we are constantly seeking opportunities to expand our offering in this area. In the context of the current difficult situation of Polish fruit growers, increasing the availability and sales of juices from Polish fruits is an obvious choice for us and a manifestation of modern economic patriotism. The initiatives launched are beneficial from a business perspective, but they also set the best, commendable social trends – says Daniel Obajtek, President of the Management Board of PKN ORLEN.
  • Kantar research shows that 87% of respondents (including drivers) are encouraged to buy by information about the domestic origin of products.
  • Furthermore, 80% of survey participants believe Polish products are better and more ecological. The scale of production also significantly influences consumer decisions.
  • Over 70% of Poles consciously choose goods produced by small, family-run businesses supporting local development.
  • According to 75% of respondents, large, national corporations should play an active role in supporting small businesses in Poland.
PKN Orlen has two new members of its management board starting today. One is Arwen Arwich – formerly head of the Legal Department at the Chancellery of the Prime Minister, a lawyer with international and banking experience – and Michał Róg, former Vice-President of Telefonika, who will be responsible for wholesale trade. More - on 300POLITYKA. Digital Technologies Create New Markets and Change the Functioning of Existing Ones - FOR Report  
  • Search costs are not only incurred when looking for the cheapest store or the most suitable product, but also in many other areas of our lives, including searching for a job or a life partner.
  • Both Pracuj.pl, a job offers platform founded in 2000, and LinkedIn, a professional social network operating since 2003, currently have about 2 million users in Poland and in 2016 were ranked 44th and 68th respectively among the most visited websites.
  • They have also significantly improved the functioning of the labor market. Globally, McKinsey estimates that online platforms connecting employees could increase global GDP by 2% by 2025. The growing importance of online searches is also evidenced by the fact that one-third of marriages in the USA are now between people who met online. Interestingly, couples who met this way are better matched, and their marriages are slightly more durable.
  • The low search costs, reputation mechanisms, and economies of scale associated with the development of online platforms have enabled the development of the sharing economy, i.e., the distributed use of otherwise unused resources (Koopman, Mitchell, and Thierer, 2015). Thanks to them, when going away for a longer period, we can rent out our apartment without major worries, so it doesn't stand empty, or when traveling, we can take an additional passenger in exchange for fuel cost reimbursement.
  • More - in the FOR report.
Who Earned the Most This Week? Pekao S.A. Shareholders
  • The Management Board of Pekao S.A., at the request of President Krupiński, withdrew from further negotiations with Alior Bank.
  • Investors reacted more than positively to Pekao's withdrawal from the merger with Alior. Additionally, the stock market reacted very positively to the bank's results: opening 200,000 new accounts and acquiring PLN 1 billion in deposits, an increase in consolidated net profit (+7.3%), and commercial banking revenue (increased by 9%).
  • Given that Pekao's stock price surged by a total of 10 percentage points, its shareholders earned the most this week, especially the largest ones who led the repolonization – the Polish Development Fund (PFR) and PZU.
  • PFR earned PLN 400 million, and PZU approximately PLN 800 million.
FUN FACT: The Tour de Pologne Route Coincides with Tauron's Operational Area
  • This year, the route of the cycling Champions League coincided with the operational area of the TAURON Group – the official sponsor of the race.
  • On the 100th anniversary of Poland regaining its independence, the Tour de Pologne celebrated its 90th anniversary, and the best cyclists competed in it for the 75th time. The winner was a Pole, Michał Kwiatkowski.
  • Mobile TAURON homes were present at the finish lines in Krakow, Katowice, Zabrze, and Bielsko-Biała. In this unique setup, visitors could learn interesting facts about ecological heating systems. Advisors offered guidance on switching to ecological heating, compared the operating costs of various household appliances, and TAURON experts advised on choosing a heating system that suits the needs of residents and their financial capabilities.
FUN FACT FOR EURO-GOERS: Drought Has Thinned Belgian Potato Yields, POLITICO Reports This Could Affect Belgian Fries Supply!
  • In Brussels, it's the height of the slow news season (but not potato season) to the extent that the lead story on European POLITICO is the problem of drought, which has thinned potato yields and caused alarm among Belgian fry suppliers!
  • More on POLITICO EUROPE.
INTRIGUING: THE ECONOMIST - TAXES MUST BE ADAPTED TO THE 21ST CENTURY The Economist's cover story on how current tax systems are relics - link. STRATEGIST: ARE CORPORATIONS TOMORROW'S CHARITIES?
  • John Wood quit a high-level position at Microsoft to save the world – this is how his Ozy.com article begins. He is the chief innovator in the global non-profit movement. In 20 years, he has raised half a billion dollars for charitable causes. He discusses how corporations should support the charities of tomorrow.
  • Article on OZY.

Łukasz Mężyk