Business

UDF CLAIMS BULGARTABAC PRICE IS ABOUT USD 370 M

According to the Union of Democratic Forces the price of Bulgartabac Holding is USD 370 M, which is also the assessment of the holding’s international audit in 2000, it transpired after a meeting of UDF National Executive Council. Ergin Emin, member of th

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 728

TOBACCO HOLDING WANTS PROCEDURE FOR UPPED PRICE FOR BULGARTABAC

A day after the final bids for 80 percent stake in Bulgaria's tobacco giant Bulgartabac were unsealed, Tobacco Holding, placed third among the four bidders, asked the Privatisation Agency for a procedure for increasing the offered price. The Executive Dir

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 603

PHARE ACCESS 2000 RELEASES EUR 1,8 M FOR BULGARIAN PROJECTS

A total of EUR 1, 8 M will be released for Bulgarian projects under PHARE programme ACCESS 2000 in the period July 2002 – November 2003. The program aims to strengthen the Civil Society and prepare for accession the candidate countries in Central and East

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 585

SALE OF 70% STAKE IN VIDACHIM TAKES PLACE TODAY

A 70% stake in Vidin-based chemical plant Vidachim will be transferred to Russe-based company Pristisgroup-Vodno Stopanstvo AD today, after the Supersory Board of the Privatization Agency approved the deal July 18. The company paid one lev for the bankrup

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 598

FIVE BIDS SUBMITTED FOR FORTIFYING DANUBE RIVER BANKS

Five offers for the supervision of works involved in stabilizing the banks of the Danube in Zone V at the village of Brushlen were submitted to the Ministry of Regional Development and Public Works before July 22 deadline. The cost of the project for rein

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 621

NEW REGULATORY BODY WILL APPROVE WATER PRICE HIKES

A new state regulatory body will approve water price hikes only after domestic water utilities certify their operating and investment costs, as well as the parameters of their financial state. This is envisaged by a new strategy for rehabilitation of the

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 480

LARGEST PETROL DISTRIBUTOR PETROL AD SEEKS BUYER FOR VARNA PORT

Bulgaria’s largest petrol distributor Petrol AD is seeking a buyer for Varna port, Mitko Subev, chairman of Petrol AD said. He explained that managing a sea port was not within the core competence of the company.

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 577

SECOND TRANCHE OF IMF LOAN APPROVED

The Executive Board of the International Monetary Fund approved the disbursement of the second USD 35 M tranche under the nine-tranche loan signed late last year. The IMF Board made a positive assessment of Bulgaria' macroeconomic stabilization.

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 453

STATE FUND “AGRICULTURE” UPS FARMER LOANS

State Fund “Agriculture” increased the amount of individual credits for farmers from BGN 70,000 to BGN 100,000. Equipment, other immovable property, grain warehouse receipts can be used as loan collateral if they cover 100 percent of the invoiced value of

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 481

FOREIGN INVESTORS INTERESTED IN VARNA POWER PLANT

Foreign investors have expressed interest in managing the six 210 MW units of the Varna thermal power plant as well as in their post-modernisation lease hire, Energy Minister Milko Kovachev announced. The National Electricity Transmission Company opened a

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 543

CONTRACT FOR SALE OF BIOCHIM TO BE SIGNED FRIDAY

The signing of the contract for the sale of a 99,59 percent stake in Biochim bank will take place on Friday. Bank Austria CEO Gerhard Randa is expected to attend the ceremony.

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 509

TOBACCO CAPITAL PARTNERS WITH HIGHEST OFFER FOR BULGARTABAC

The consortium of Tobacco Capital Partners and Clar Innis B.V.

Business | July 22, 2002, Monday // 00:00 | Viewed: 441

WORLD BANK REPORT BLAMED FOR INTERVENTION IN DOMESTIC POLICY

The World Bank report is full of discrepancies, which show poor knowledge in the separate sectors, Velichka Ranguelova, chair of the Center for Social-Economic Analyses and forecast with Promyana Union, said. According to data presented at the news confer

Business | July 22, 2002, Monday // 00:00 | Viewed: 449

DEBT SAID TO BE EUR 1 BLN DOWN FOR LAST THREE MONTHS

Three moths after the debt deal Bulgaria’s government's debt and the government-secured debt in euros has been reduced by more than EUR 1 BLN, Deputy Finance Minister Katev said. Another quite impressive figure, in the words of Minister Katev, is the fact

Business | July 22, 2002, Monday // 00:00 | Viewed: 406

ALL FOUR BIDDERS FOR BULGARTABAC SUBMITTED FINAL OFFERS

All four bidders for Bulgaria’s tobacco monopoly Bulgartabac - consortium Rosbulgartabac, Tobacco Capital Partners and Clar Innis B.V.

Business | July 22, 2002, Monday // 00:00 | Viewed: 389

RUSSE SHIPYARD LAUNCHED ITS FIFTH CARGO SHIP

A 250-ton motor ship, whose construction started March 26 this year at the Russe Shipyard, set sails July 22. The vessel is the second of all three motor shops, ordered by the German company KROHN&CO.

Business | July 22, 2002, Monday // 00:00 | Viewed: 556

TENDERS FOR FORTIFYING DANUBE RIVER BANKS OPENED

The offers for supervisor of the project for fortifying Danube River banks – zone V will be opened July 22 by a tender committee at the Regional Development and Public Woks Ministry. The project for fortifying the banks of a 1,3 kilometre section of the r

Business | July 22, 2002, Monday // 00:00 | Viewed: 376

SECOND TRANCHE OF IMF LOAN DECIDED TODAY

The Executive Board of the International Monetary Fund meets today to discuss Bulgaria’s progress and decide on the disbursement of the second USD 32 M tranche under the nine-tranche loan signed late last year. It is expected that Bulgaria's performance w

Business | July 22, 2002, Monday // 00:00 | Viewed: 488

GAS PRICES FOR MAJOR CONSUMERS TO BE SLASHED IN 2003

State-owned natural gas supplier Bulgargaz will reduce the price for major industrial consumers by 26,5% next year, Energy Minister Milko Kovachev said at a seminar in the town of Vratsa, quoted by Dnevnik Daily. As a way of compensation Bulgargaz will be

Business | July 22, 2002, Monday // 00:00 | Viewed: 405

BULGARGEOMIN SAID TO OWE OVER BGN 2,2 M IN WAGE ARREARS

Emil Demerdzhiev, head of the committee of the protesting former workers of the fully owned by the state mining and construction company said that the company owes over BGN 2,2 M in wage arrears. In early July the workers renewed their protests by blockin

Business | July 22, 2002, Monday // 00:00 | Viewed: 559

CORPORATE BANK SEEKS TO ACQUIRE CREDIT BANK

The management of Corporate Bank announced they wanted to acquire the insolvent Credit Bank. A letter of Corporate Bank with detailed intentions has already been sent to Credit Bank.

Business | July 22, 2002, Monday // 00:00 | Viewed: 351
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