Tobacco Monopoly Sale will be All-Cash deal
The privatization of Bulgaria's tobacco monopoly Bulgartabac Holding will be an all-cash deal. There will be no option for payment under debt-to-equity deals struck with Spain and Italy.
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Wind Power Plants to Be Built in Bulgaria's Black Sea Towns
Foreign energy enterprises seek to expand with alternative energy plants in the Black Sea towns of Shabla, Balchik and Kavarna - all of them in the Dobrich district. German company already contracted the construction of wind energy facility in the distric
Economy Minister Meets Bulgarian Business Leaders Today
Bulgaria's Economy Minister Nikolay Vassilev will meet today with the Bulgarian Forum of Business Leaders. They will discuss ways to make local economic environment more attractive to foreign investors.
Three Complaints Filed Against Bulgaria's Tobacco Monopoly Sale
Three complaints have been filed in the Privatisation Agency by participants in the privatisation procedure for 80% stake in Bulgaria's tobacco monopoly Bulgartabac Holding. Metatabak and Tobacco Holding filed their complaints on September 5.
New Brady Swap Hoped to Cut Bulgaria's Debt by USD 238 M
A second exchange of Bulgarian Brady bonds for dollar-denominated Eurobonds with a maximum worth of USD 800 M is mulled by the Bulgarian government. The expected reduction of the face value of Bulgaria's debt is 87 million dollars, which, together with th
Bulgaria May Become SE Europe Energy Center
Southeast Europe countries are expected to adopt November 15 a joint declaration of intent on Bulgaria's proposal to become a regional energy centre. Vladimir Filipov, Southeast Europe Stability Pact national coordinator for Bulgaria announced that after
Offers for Bulgaria's N-plant Units 1,2 Closure Opened
The offers for management group of the projects of Kozloduy Units 1,2 decommissioning were opened September 9. Austrian-French, Belgian and Spanish consortia took part in the tender.
Russia, Bulgaria Mull Gas Barter Scheme
A scheme for paying part of Russian gas supplies to Bulgaria in goods and construction services will be discussed by Deputy Minister of Regional Development and Public Works Georgiev and Gazprom representatives. The meeting, scheduled for September 12, wi
Bulgarian Urea Maker Posts Record High 2001 Loss
Vratsa-based chemical plant Chimco reported a record-high 2001 loss of BGN 21,7 M, up BGN 9 M over the previous year. This was announced at the general shareholders' meeting September 7.
European Corridor VIII Accord Expected to be Signed
The memorandum for the construction of European transport Corridor VIII is expected to be signed today in Bari, Italy. The Bulgarian side will be represented by Transport Minister Plamen Petrov.
Top Industrialists Lobby for Bulgaria's Early EU Accession
"I think Bulgaria is now very much on track to join the EU at the latest in 2007. ERT will continue to put pressure on the EU in favour of Bulgaria's early accession," Piet Steel, European Round Table Associate of Baron Daniel Janssen said in an interview
Ray Holding Willing to Manage Bulgarian Railway Lines
The Bulgarian financial-industrial group Ray Holding has filed in the Transport Ministry a demand to be granted concessions for maintaining and exploitation over seven secondary railway lines. The demand is related to the intention of the ministry to clos
Dutch Agency Injects EUR 450,000 in Bulgarian Agriculture
EUR 450,000 aid will be granted by the Dutch Cadastre Agency to Bulgarian Agriculture Ministry. The money is provided for enlarging agricultural estates in Bulgaria where almost all farmers grow their crops on very small pieces of land.
Foreign Markets for Bulgaria‘s Businesses Sought in Johannesburg
The meetings that President Parvanov had at the World Summit in Johannesburg have been carefully selected to lobby for Bulgaria's business expansion abroad. In South Africa he met the presidents of Venezuela, Brasilia, Nigeria, Kazakhstan, Turkey and Mong
Economy Minister Brings Good News from Brussels
The European Commission's annual report on Bulgaria's EU progress is likely to be very positive Economy Minister Nikolay Vassilev said upon his return from a visit to Brussels. Still, it is not yet clear if the report, expected on November 16, will acknow
Less Money for State Administration Envisaged
Ruling Simeon II Natinal Movement (SIINM) will cut the funding of state administration with up to 20 percent, SIINM Secretary Vesselin Bliznakov said. The saved money will be allocated for the education, culture and healthcare sectors.
Promahon and Kulata Connected With Information System
Bulgarian and Greek customs will exchange information through new electronic system that will be launched in November. The director of Bulgaria's Customs Agency Assen Assenov and his Greek counterpart Vasilios Manolopoulus agreed the facility Friday at th
Bulgaria Excels in Seized Drugs
Bulgaria ranks second in quantity of seized drugs among the members of the Balkaninfo system. That was announced by Assen Assenov, director of Customs agency.
Tractebel Invited to Invest in Bulgaria
Deputy Prime Minister and Economy Minister Nikolay Vasilev invited Belgium's energy giant Tractebel to invest in Bulgaria's energy sector. Vassilev is in Brussels for consultations on the annual report of the European Commission on Bulgaria.
Transit of Natgas to Greece Might Increase
Domestic natural gas supplier Bulgargaz could pump bigger quantities of the fuel to Greece if the capacity of transit infrastructure is increased, Energy Minister Milko Kovachev said. He left on a trip to Greece.
Bulgarian National Bank Branches to be Transformed
Bulgarian National Bank (BNB) branches in Burgas and Russe will be transformed into BNB representative offices with no cash activities, the Board of Directors of the Central Bank decided September 5. It was announced that the regional branch in Vratsa wil
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