Another patronage – Mitigating the impact of the Economic Crisis in Europe by legal regulations
We are excited to inform you that Business & Law takes patronage over the International Conference organized by ELSA Cracow. The conference theme will be “Mitigating the impact of the Economic Crisis in Europe by legal regulations”. The conference will be held from 26th-27th of April 2013 in Auditorium Maximum – Didactic and Congress Centre of the Jagiellonian University, Cracow, Poland. The main goal of this conference is to review key issues related to […] read more
Doing Business in Egypt after the January Revolution: Capital Market and Investment Laws
Egypt underwent many economic and legal reforms that resulted in remarkable economic growth at the turn of the century. Due to widespread corruption, however, this economic growth mostly benefited the small clique of powerful officials and businessmen. Unsatisfied Egyptians then took their demands for a better life to the streets, culminating in the January Revolution. Although there were other political motivations to the Revolution, socioeconomic stances were at its heart. The Revolution is expected […] read more
POLAND – A HUB FOR CHINESE EXPANSION IN EUROPE?
GENERAL OVERVIEW According to the World Bank’s data the People’s Republic of China (further “China” or “PRC”) is currently the second world’s largest economy (GDP ranking) with economic ambitions exceeding the Asian region. PRC already expands its influence in Africa and Latin America by concluding numerous trade agreements. And what about Europe? From the Chinese point of view the economic crisis that preoccupies Europe seems an opportunity rather than an obstacle. Now, the question […] read more
Banks’ merger – Santander takes over Kredyt Bank
I have repeatedly referred, in the Polish neswpapers, to the fascinating topic of mergers and acquisitions (M&As) of banks in Poland. Again, I raised the issue at the Business & Law Blog at the end of 2011, where I pointed out that there were four banks in Poland listed for sale by their majority shareholders (Bank Millennium SA, Kredyt Bank SA, DnB Nord SA and Dexia Kommunalkredit Bank Poland SA). One of these banks was […] read more
Omnibus accounts – Poland is looking to make its capital market more accessible to foreign investors
With the beginning of the year, significant changes came into force in Poland concerning the law related to the trading in financial instruments. The introduction of omnibus accounts opened up the Polish capital market for foreign investors and brokerage houses. The reform reorganized the system of registration of financial instruments. For example, the potential foreign investor will now be able to enter into an agreement with the Polish authorized entity to run the omnibus […] read more
Banking, Competition and Merger Policy: Challenges Following the Recent Financial Crisis
In 2008 the world witnessed one of the most devastating financial crises in recent history. Its force swept away several of the most powerful US investment banks, bankrupted mighty US and EU commercial banks and dried up banks’ capital worldwide (Beck et al., 2010; Johnson and Kwak, 2010). The financial crisis brought severe economic recession, dumping national and global growth and causing cumulative banking losses in excess of a trillion Euros (Vives, 2010). The cost […] read more
Artur Kluz cited in FINANCE The Executive Magazine for Emerging Europe (Frankfurter Allgemeine Zeitung)
It is a great pleasure for Business&Law Blog to announce that Mr. Artur Kluz was cited the article titled – Active Zone published by FINANCE The Executive Magazine for Emerging Europe (Frankfurter Allgemeine Zeitung). The article reaches the issue of bankig sector in emerging Europe. The link to the article is www.finance-ee.com or, the PDF directly, http://www.finance-ee.com/pdf/Finance-EE-04-2011-CoverStory.pdf .
Banks in Poland for sale
Polish banks were not hit hard by the financial crisis. However, the same cannot be said about the parent companies of Polish banks. Mostly because of financial difficulties – parent institutions of Polish banks are willing to sale banks in Poland. At least three banks operating in Poland are on sale according to newspapers. Banking sector in Poland has already undergone some major changes with Santander’s takeover of Bank Zachodni WBK and Raiffeisen Bank’s […] read more