Business

PHARMACHIM HOLDING PUBLIC AUCTION TO BE HELD TODAY

The public auction for the sale of a 100% of the capital of Pharmachim Holding and nearly 46% of the capital of the Chemical Pharmaceutical Research Institute is to be held today at the Privatisation Agency. The two companies are sold in a package.

Business | June 3, 2002, Monday // 00:00 | Viewed: 1246

BG SEA FLEET TO APPEAL DECISION OF VARNA SHIPYARD CREDITORS

The Navigation Maritime Bulgare started work on June 3 as the owner of Varna Shipyard. The general meeting of the creditors of the Varna Shipyard held the same day decided all expenses of the company since April 12 to be covered by the new owner, since th

Business | June 3, 2002, Monday // 00:00 | Viewed: 581

VERHEUGEN: COMPROMISE ON N-PLANT 3,4 UNITS WILL BE HARD TO REACH

It will be difficult to reach a compromise with the EU member states if Bulgaria declines to close third and fourth units of the Nuclear Power Plant Kozloduy before 2008 and 2010, EU Enlargement Commissioner Guenter Verheugen said. Asked whether the Europ

Business | June 2, 2002, Sunday // 00:00 | Viewed: 649

SOCIAL MINISTER SAYS GREY ECONOMY EVOLVES INTO BIG THREAT

There is grey economy in all developed countries but in Bulgaria it surpassed all limits, Bulgaria’s Deputy Prime Minister and Social Minister Lidia Shuleva commented. “Obviously we have created the conditions that this grey economy develops so extensivel

Business | June 2, 2002, Sunday // 00:00 | Viewed: 358

EXPERTS DEMAND NEW LAW ON ROSE OIL PRODUCTION TO BE ADOPTED

Experts participating in a roundtable discussion on the problems of the domestic industry for essential oil proposed a new law on rose oil production to be adopted.The area of domestic rose plantations has plummeted from 6,500 ha in early 20th century to

Business | June 2, 2002, Sunday // 00:00 | Viewed: 528

ARMED FORCES MODERNIZATION MIGHT BE COMPLETED EARLIER THAN PLANNED

The term for modernization of the Bulgarian armed forces will be shortened by five years, General Moho Mihov, Head of the General Staff of the Bulgarian Armed Forces forecast in an interview for the Bulgarian News Agency. Mihov’s extended mandate ends on

Business | June 2, 2002, Sunday // 00:00 | Viewed: 412

GERMANY TOPS LIST OF INVESTORS IN BULGARIA IN 2001

In 2001 Bulgaria’s trade exchange with Germany amounted to USD 1592 M (12.9 percent of the total amount of Bulgaria’s foreign trade exchange).

Business | June 1, 2002, Saturday // 00:00 | Viewed: 380

E-COMMERCE LAW TO BE ADOPTED BY END-2002

“E-government” was the main topic at the meeting between Bulgaria’s State Administration Minister Dimitur Kalchev and representatives of the American Chamber of Commerce in Hilton Sofia. The minister promised that e-commerce law will be adopted by the end

Business | June 1, 2002, Saturday // 00:00 | Viewed: 665

DRIVERS WITHOUT INSURANCE TO BE FINED 500 LEVS

The drivers who did not pay the mandatory insurance - "Civil Liability", will pay fines from BGN 100 to BGN 500, read the amendments to the Insurance Act, passed on first reading by the parliamentary budgetary committee. Currently, the fines are much more

Business | June 1, 2002, Saturday // 00:00 | Viewed: 423

WB LOAN TO FUND TEACHERS’ RETRAINING

Nearly 1 million euros of a World Bank loan under the project Modernization of Education in Bulgaria will be re-channelled to finance programs for teachers' qualification and retraining. Education Minister Vladimir Atanassov and officials from the World B

Business | June 1, 2002, Saturday // 00:00 | Viewed: 442

RUSSIA EYES CONSTRUCTION OF N-PLANT BELENE

Russia officially declared its interest in the construction of Bulgaria’s Nuclear Power Plant Belene. That happened during the meeting of Bulgaria’s Energy Minister Milko Kovachev with Russia’s Minister of Atomic Energy Aleksandr Yuryevich Rumyantsev, on

Business | May 31, 2002, Friday // 00:00 | Viewed: 440

LUKOIL SEEKS TO EXPAND IN BULGARIA

Vagit Alekperov, Lukoil president on a visit to Bulgaria declined to confirm or deny a media report that the Russian oil major was about to acquire a major network of filling stations in Bulgaria. Alekperov said that Lukoil will further expand in Bulgaria

Business | May 31, 2002, Friday // 00:00 | Viewed: 404

BANK AUSTRIA TO ACQUIRE BIOCHIM BANK

The Bank Consolidation Company (BCC), the governmental body that manages the privatisation of state banks, chose Bank Austria as an exclusive buyer for the full 99,59 percent state stake in Bulgaria’s fourth largest bank Biochim. “We decided to give to th

Business | May 31, 2002, Friday // 00:00 | Viewed: 382

ENEL ASKS FOR MORE TIME TO STUDY POWER PROJECT

Italy’s energy company Enel Power requested the Bulgarian government to grant it two months more to complete its feasibility study for the construction of the Gorna Power hydropower cascade, Regional Development Minister Kostadin Paskalev said. Paskalev u

Business | May 31, 2002, Friday // 00:00 | Viewed: 506

PORT PROTESTORS PUT AN END TO STRIKE

The government gave up under the pressure of a ten-day strike of 850 workers from the Burgas port. The dockers who protested at port Burgas announced that they put an end to their strike after an agreement was signed between the protesting committee and t

Business | May 30, 2002, Thursday // 00:00 | Viewed: 459

FALL IN EXPORT REGISTERED BY TOBACCO MONOPOLY IN 2002

A fall of 22 percent in the exported production was registered by Bulgaria’s tobacco monopoly Bulgartabac Holding for the first five months of 2002 year-on-year. Revenues were 16,47 percent up for this period in 2002 as revenues from export in 2001 were U

Business | May 30, 2002, Thursday // 00:00 | Viewed: 464

BULGARIA HOPES TO SELL INSURER DZI BY AUGUST

The Privatization Agency launched the second stage of the tender for an eighty percent stake in the State Insurance Institute (DZI). The deadline to place final offers expires on July 1.

Business | May 30, 2002, Thursday // 00:00 | Viewed: 405

ONLY 20 PERCENT OF TELECOM AND BIGGEST INSURER FOR BOURSE SALE

The Privatization Agency decided to limit to 20 percent each, the stakes in Bulgaria’s telecom monopoly the Bulgarian Telecommunications Company and State Insurance Institute (DZI) that will be offered for sale on the Bulgarian Stock Exchange. The news is

Business | May 30, 2002, Thursday // 00:00 | Viewed: 321

INTERNATIONAL ARBITRARY COURT OVERRULED CLAIM AGAINST BULGARIA

The International Court of Arbitration in Paris overruled the claim of the consultancy company Arthur Andersen against Bulgaria for some USD 9 M, Petko Nikolov, chairman of the Supervisory Council with the Privatization Agency announced. The decision of t

Business | May 29, 2002, Wednesday // 00:00 | Viewed: 1661

FIRST QUARTER FOREIGN INVESTMENTS REACHED USD 47 M

Foreign investments in Bulgaria amounted to USD 46,8 M in the period January-March, data of the central bank (Bulgarian National Bank) show. In 2001, foreign investments for the same period were USD 279, 5 M.

Business | May 29, 2002, Wednesday // 00:00 | Viewed: 427

BRITISH AMERICAN TOBACCO CLOSES OPERATIONS IN BULGARIA

The International tobacco group British American Tobacco announced that the company decided to close its subsidiary and reduce to the maximum its operations in Bulgaria by end-June, 2002. The argument for withdrawal, written in an official release for the

Business | May 29, 2002, Wednesday // 00:00 | Viewed: 542
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