Business

PROJECTS FOR GOVERNMENT-SECURED EXTERNAL LOANS APPROVED

The Cabinet approved the projects which will be financed next year by government-secured external loans at its meeting August 1. The first project is for restoring the forest sector in Bulgaria, the other is on setting up a National Revenue Agency, which

Business | August 1, 2002, Thursday // 00:00 | Viewed: 398

METALLURGICAL WORKERS THREATEN TO GO ON HUNGER STRIKE

Workers at Eliseyna metallurgic plant are to go on a hunger strike Monday as a protest against unpaid remunerations. So far the workers expressed their demands by stopping the traffic on Sofia-Mezdra railway but with no result.

Business | August 1, 2002, Thursday // 00:00 | Viewed: 394

PHARMACHIM ACQUISITION DEAL APPROVED

The Fair Competition Commission approved on Wednesday the acquisition of a 100 % stake in drug maker Pharmachim Holding and of a 45,9 percent stake in the holding’s research unit by domestic pharmaceuticals maker Sopharma. The all-cash deal values at EUR

Business | August 1, 2002, Thursday // 00:00 | Viewed: 534

DECISION ON ONE-OFF IMPROVEMENT IN BULGARTABAC BIDS TAKEN SOON

The Privatization Agency (PA) will decide by the end of next week whether to ask the four bidders for an 80% stake in the Bulgarian tobacco monopoly Bulgartabac for a one-off improvement in their offers, PA Executive Director Apostol Apostolov said, quote

Business | August 1, 2002, Thursday // 00:00 | Viewed: 349

PIRINSKO PIVO BREWERY INCREASES MARKET SHARE TO 12%

Blagoevgrad-based beer maker Pririnsko Pivo boosted in market share from 3-4% in 1998 to 12% in 2002, Dnevnik Daily reported. Some BGN 5 M have been invested in the brewery after it was acquired in 1997 by the Zlaten Lev privatisation fund to boost annual

Business | August 1, 2002, Thursday // 00:00 | Viewed: 458

DRAFT CONTRACT FOR SALE OF INSURER DZI SIGNED

Draft contract for the sale of 80% stake in the State Insurance Institute DZI was signed by representatives of the Privatization Agency (PA) and the sole bidder for the state insurer Contract Sofia July 31, Pari Daily reported. For the deal to materialize

Business | August 1, 2002, Thursday // 00:00 | Viewed: 392

TELECOM MONOPOLY REMAINS VALID IN 2003 UNDER BILL

The monopoly of the Bulgarian Telecommunications Company over fixed telephone network and leased lines, which expires officially December, 31 2002 will be also valid the year after that, under Telecommunications Bill, which is being prepared by the Transp

Business | August 1, 2002, Thursday // 00:00 | Viewed: 372

CONSUMER ATTITUDE ABOUT STATE OF ECONOMY DETERIORATES

Consumer confidence in the current state of the Bulgarian economy declines with one point each three months since October last year, the National Statistical Institute announced. In July 2002, it reached a level of minus eighteen percent.

Business | August 1, 2002, Thursday // 00:00 | Viewed: 459

ADDITIONAL FUNDING OF BGN 34 M FOR ROAD EXECUTIVE AGENCY SUGGESTED

A proposal for the disbursement of additional funding of BGN 34,3 M to Road Executive Agency will be moved to the Cabinet on August 1 by Deputy Prime Minister Paskalev and Finance Minister Velchev. The money has been secured through expenditure cuts in th

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 334

PROTESTS AT BULGARTABAC AGAINST PRIVATIZATION PROCEDURE START NEXT WEEK

Symbolic protests begin on August 5th in all 22 subsidiaries of Bulgartabac Holding, Kosta Bozhinov, leader of the tobacco syndicate with the Confederation of Independent Trade Unions in Bulgaria (CITUB) said after a four-hour meeting of the trade union.

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 335

PRIVATIZATION DEAL OF OSOGOVO MINE TO BE INVESTIGATED

The Privatization deal of Kyustendil-based Osogovo mine will be investigated, after which a decision for approaching the Prosecutor’s Office will be made, Deputy Prime Minister and Economy Minister Nikolay Vassilev said. Miners from the lead and zinc mine

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 609

METHOD FOR SELECTING INVESTOR FOR VARNA SHIPYARD KNOWN SOON

The method for selecting a strategic investor for Varna Shipyard will be known next week, Pari Daily reported, citing Slaveyko Staykov, chairman of the board of directors of the Bulgaria Sea Fleet, the owner of the shipyard. The rules for the candidates a

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 441

UBB, ROSEXIMBANK LAUNCH JOINT DEBIT CARD SYSTEM

United Bulgarian Bank (UBB) and Roseximbank will team up for a new debit card system, Dnevnik Daily reported. The new system for card payments is expected to take one fourth of the market monopoly of the Bulgarian Organization for Payments Initiated by Ca

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 633

TWO BULGARTABAC BIDDERS WANT TO IMPROVE THEIR OFFERS

The Privatization Agency announced that so far two of bidders for eighty percent stake in tobacco giant Bulgartabac Holding have filed requests for improvement of their offers. These bidders are Tobacco Holding, placed third among the four bidders and con

Business | July 31, 2002, Wednesday // 00:00 | Viewed: 339

CONSORTIUM METATABAK WON'T WITHDRAW BULGARTABAC OFFER

Consortium Metatabak, placed second among the four bidders for Bulgartabac, won't withdraw from the Bulgartabac privatization procedure at this stage, Garedin Gevondyan, president of “Soiuzcontract Tabac” stated. He said that after giving testimonies at t

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 457

ECONOMY MINISTER EXPECTS BULGARTABAC TO BE SOLD BY END-AUGUST

Deputy Prime Minister and Economy Minister Nikolay Vassilev expects the contract for the sale of eighty percent stake in tobacco giant Bulgartabac Holding to be signed by the end of August. He said that after the regular weekly meeting of the parliamentar

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 378

FOREIGN DEBT SET AT EUR 8,6 BLN END-MAY

Bulgaria’s government debt stood at EUR 8,622 BLN at the end of May, the Finance Ministry announced. This time the ministry presented the foreign debt data both in US dollars and euros.

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 586

PROTESTS AGAINST FUTURE LAY-OFFS ORGANIZED AT BULGARTABAC

“We are organizing a strike in all units Bulgaratbac Holding,” Kosta Bozhinov, leader of the tobacco syndicate with the Confederation of Independent Trade Unions in Bulgaria (CITUB) said. In his opinion in all units of the tobacco monopoly, the workers w

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 450

OUTDATED FLEET POSES THREAT TO EU TALKS ON TRANSPORT CHAPTER

The beat-up fleet of Navigation Maritime Bulgare could derail accession talks with the EU on the transport policy acquis communautaire chapter, Maritime Administration Agency Executive Director Kostova said, quoted by Dnevnik Daily. Bulgaria’s merchant ma

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 431

SHUMEN-BASED BREWERY REPORTED SALES GROWTH IN 2001

Bulgaria’s oldest brewery Shumensko Pivo beer brewery reported a steady growth of sales in 2001. The Shumen-based company raised its sales in 2001 to 7 million litres over the previous year.

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 468

FIVE COMPANIES CONTEST DISTRIBUTION OF BGN 35,5 M FOR VARNA SHIPYARD

Five companies have contested the distribution of the BGN 35,5 M paid by the Navigation Maritime Bulgare for Varna Shipyard. On proposal of the receivers in bankruptcy, the sum is to be distributed between the Bank Consolidation Company (BCC) and the Cent

Business | July 30, 2002, Tuesday // 00:00 | Viewed: 616
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria