Gazprom to Inject USD 50 M in Bulgaria for Two Years
Russian giant Gazprom will invest in Bulgaria USD 24 M over the next year followed by USD 27 M over 2004. The company wants the amount pumped into Greece to increase three times.
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JICA Project Helps Set Forth Bulgarian Industry Goals
A protocol for the results from a Bulgarian-Japanese project on industrial policy was signed by Deputy Economy Minister Sofia Kassidova and Joshiaki Nishimura, project manager, September 20. The results were praised for their usefulness in setting forth t
Half of Last Four Years Deals in Bulgaria Go to Prosecutor
Information for about half of the deals inked over the last four years has been referred to the Prosecutor's Office and the National Service for Combating Organized Crime, Deputy Prime Minister and Economy Minister Nikolay Vassilev said September 20. In c
Hyundai to Start Joint Venture in Bulgaria
The Korean car maker Hyunadai has approached the Dobrich-based farming machinery producer MetalArgo AD as a prospective partner in a local joint venture. The contact has been made through the Hyundai branch in Turkey.
Purchase of Contracted Tobacco Guaranteed in Bulgaria
The contracted quantities of tobacco will be bought out regardless of Bulgartabac owner, no matter whether it is state-owned or privatised, Tobacco Fund Executive Director Oktay Ahmedov said in Plovdiv. Ahmedov opened in the Second Balkan Conference on "Q
Sofia Mulls Relieved Licensing Procedures
A bill that aims to reduce administrative burden for businesses is being drafted. If passed, it will ease the procedures for licensing of new enterprises.
Jobless Rate in Bulgaria Drops for Fourth Month in Row
The rate of jobless people in Bulgaria marked a fall for the fourth time in a row in August and slipped to 17,5%. Some 650,018 people without work stand for that figure, which is 3,311 less than the same month of last year, the Employment Agency announced
New Bulgarian Airline Recommended
A new company should be set up to replace the indebted flag carrier Balkan, Bulgaria's Finance Minister said. This plan of the government faces firm opposition from Balkan employees.
Money-Laundering Combat in Bulgaria Takes after Europe
The Financial Intelligence Agency (FIA) is to enter all financial operations that process cash payments over BGN 30,000 in its register. This is envisaged by amendments in the anti-money laundering law that will be tabled by Bulgaria's government in the P
EBRD Acquired 15 % Stake in Bulgaria's Unionbank
The European Bank for Reconstruction and Development (EBRD) acquired 15% stake in Unionbank after buying more than 2, 3 million shares with nominal value of BGN 1. Unionbank is the fifth bank, in which EBRD buys shares.
Bulgaria's New Financial Group Contracts Top PR Company
The new financial group DZI-Roseximbank chose M3 Communications Group, Inc. (www.
Turkey's Linens Company Offers Leasing Schemes in Bulgaria
Linens, the international chain for luxurious textile fabrics, introduced leasing schemes for corporate clients such as hoteliers and restaurateurs. Payments may be rescheduled from three to six months with the initial deposit set at 30-50% of the purchas
Bulgaria's Anti-trust Body to Rule on New Financial Group
Bulgaria's Commission for Fair Competition was approached to assess by the planned coordination of businesses run by insurer DZI and Roseximbank. Rossximbank's owner Emil Kyulev who recently acquired 80 percent stake in DZI, approached the anti-trust body
World Bank Commends Bulgaria's New Telecom Bill
The deadline for full access to the network of the Bulgarian Telecommunications Company (BTC) as of 2004, proposed in the new telecommunications bill, meets the European standards and practices. The comment of World Bank experts was voiced by Senior WB Ad
Debt Swap Given Green Light by Bulgarian President
President Parvanov signed the decree for promulgation of the exchange of Brady bonds for US dollar denominated eurobonds September 19. The decree is already signed, despite some serious reservations and recommendations, President Parvanov said before leav
Home Ownership in Bulgaria Rivals EU
No less than 88% of the Bulgarian families own the home they live in, a survey of Alpha Research polling agency shows. Some 13 % of the Bulgarians own many homes, while 5% have a country home as well.
IMF Rates Bulgaria's 2002 Budget Utilization Excellent
In my opinion Bulgaria's utilization of 2002 budget is excellent, Jerald Schiff, who leads IMF mission in Bulgaria said after his meeting with Finance Minister Velchev. The utilization of the 2002 budget and the 2003 draft budget, which will be moved to C
8-mo Customs Revenues Totaled BGN 1.7 B
Customs revenues for the first eight months of this year totalled more than BGN 1.7 B.
Swap Agreement Ratified by Bulgarian Parliament
Parliament ratified the dealer manager agreement between Bulgaria and JP Morgan Securities Inc., JP Morgan Europe Limited and Salomon Smith Barney for the second exchange of Bulgarian Brady bonds for dollar-denominated Eurobonds.
BNP Paribas to Consult Power Utilities Sale in Bulgaria
The Privatisation Agency signed the advisory contract with a BNP Paribas-led consortium for the sale of Bulgaria's seven local electricity distribution companies. The preliminary report of the consultant is due in three months.
Talks with Bulgaria's Tobacco Monopoly Winner Suspended
Negotiations between the Privatisation Agency and Tobacco Capital Partners (TCP) will be suspended till finalizing the lawsuit, initiated by the three failed also-rans in Bulgartabac Holding privatisation. The news comes a day after the Supreme Administra
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