Business

BULGARIA TO ALLOT EUR 24 M FOR THE CONSTRUCTION OF DANUBE BRIDGE 2

Bulgaria will allot from the state budget some EUR 24 M for the construction of Danube Bridge 2. EUR 4 M will be utilized for research studies and the rest of EUR 20 M will fund the construction of the bridge.

Business | May 17, 2002, Friday // 00:00 | Viewed: 330

EVROMETAL WITHDREW CLAIMS AGAINST SHIPYARD TENDER

Pernik-based Evrometal company, which ranked second in the tender for Varna Shipyard and disputed this outcome, withdrew its claim. Two offers were submitted in the April 2 tender for Varna Shipyard – of the state-owned Navigation Maritime Bulgare and Evr

Business | May 17, 2002, Friday // 00:00 | Viewed: 464

SPAIN’S HOTEL CHAIN VINCCI REPORTED TO INVEST IN BULGARIA

Spain’s hotel chain Vincci Hoteles will open hotels in Portugal and Bulgaria by the end of 2003, the Spanish daily Cinco Dias reported. The company is about to invest some EUR 63 M in the opening of four and five-star hotels in 2002 and 2003.

Business | May 17, 2002, Friday // 00:00 | Viewed: 418

MEETING OF FLAG CARRIER CREDITORS POSTPONED

The meeting of the creditors of flag carrier Balkan Airlines was postponed from May 20 to October 29. The creditors were due to approve recovery plan for the airlines.

Business | May 17, 2002, Friday // 00:00 | Viewed: 369

DEADLINE FOR PLACING OFFERS FOR TELECOM EXTENDED

The Privatization Agency extended the term, during which the potential buyers of the Bulgarian Telecommunications Company will be able to place their indicative offers. The deadline was changed from May 27 to June 10.

Business | May 17, 2002, Friday // 00:00 | Viewed: 462

FULL LIBERALIZATION OF TELECOMMUNICATIONS SECTOR AIMED BY NEW POLICY

The Cabinet adopted the actualized policy of the telecommunications sector, under which starting from 2003 the monopoly of the Bulgarian Telecommunications Company will gradually fade away. Thus, the clients will be able to choose on their own the operato

Business | May 16, 2002, Thursday // 00:00 | Viewed: 384

BUDGETARY SURPLUS OF BGN 89 M REPORTED BY FINANCE MINISTRY

Budgetary surplus of some BGN 89, 117,00 as of April 30 were reported by the Finance Ministry. The revenues were BGN 3 974 538 000, while the expenditures were BGN 3 885 420 000.

Business | May 16, 2002, Thursday // 00:00 | Viewed: 342

EBRD NEGOTIATES TO RENEW CONTRACT WITH SOLVAY

The European Bank for Reconstruction and Development (EBRD) and the Solvay headquarters in Belgium negotiate for renewing the bank’s participation in the Devnya-based Solvay Sodi, John Chomel-Doe, the EBRD country director for Bulgaria said. On June 27, 1

Business | May 16, 2002, Thursday // 00:00 | Viewed: 467

GROSS FOREIGN DEBT DOWN USD 218 M IN THE FIRST QUARTER

Gross foreign debt fell by a net USD 217,7 M in the first quarter of this year mainly due to principal payments, preliminary figures from the central bank (BNB) showed. Gross foreign debt stood at USD 10.

Business | May 16, 2002, Thursday // 00:00 | Viewed: 422

BNP PARISBAS - BULGARIA UPS LENDING

BNP Parisbas – Bulgaria announced at its annual news conference that it had made BGN 3 M in pre-tax profit, flat from the previous year. The bank’s loan portfolio rose by 22 percent to BGN 86 M at end-2001.

Business | May 16, 2002, Thursday // 00:00 | Viewed: 523

TELECOM’S MANAGEMENT AND UNIONS REACH COMPROMISE

The unions and the management of the Bulgarian Telecommunications Company signed a new collective bargaining agreement. The agreement aimed to handle the problem with the lay-offs that are necessary so that the company stays competitive when the monopoly

Business | May 16, 2002, Thursday // 00:00 | Viewed: 364

US AMBASSADOR AND DEPUTY PM DISCUSSED BUSINESS CLIMATE IN BULGARIA

Bulgaria’s Deputy Prime Minister and Economy Minister Nikolay Vassilev and the newly appointed US Ambassador to Bulgaria James Pardew discussed the possibilities to improve the business environment in the country at a working breakfast on Wednesday. They

Business | May 16, 2002, Thursday // 00:00 | Viewed: 345

AUSTRIAN COMPANY SELECTED TO ADVERTISE MOBILTEL

Austria’s Demner, Merlicek & Bergmann will be the new advertising agent of Bulgaria’s biggest GSM operator MobilTel, Austria’s daily der Standard reported. The Austrian ad agency was selected after competitive bidding among companies in Bulgaria failed to

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 376

BULGARIAN COMPANY TO ASSEMBLE SIEMENS EQUIPMENT

The Bulgarian company Elia AD builds a plant that will manufacture energy and industrial equipment under technological designs provided by Siemens. The plant is about to be completed in the end of 2002.

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 467

REI IN TALKS FOR TRAIN DELIVERY

REI Holding, which already controls 60 percent of Bulgaria’s domestic railway industry is in talks with the French company Alstom and the Montreal-based Bombardier Inc to contract the companies for delivery of trains or set up a joint venture with them. R

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 523

RUSSIAN BANK BIDS FOR TOBACCO MONOPOLY

Russia’s Commercial Bank Odintsovo announced that it was bidding for Bulgaria’s tobacco monopoly Bulgartbac Holding. The bank is one of the five potential buyers that have placed indicative offers.

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 442

EBRD SEES BULGARIA’S GROWTH SLOWING IN 2002

Bulgaria and Romania are the two countries in Eastern Europe, which will in particular not maintain their expansion due to fiscal restraints and will both see growth of 3.5 percent, down from 4.

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 379

FIRST QUARTER MARKED OVER BGN 220 M REVENUES FROM PRIVATISATION

Some BGN 220 M were the revenues from privatisation deals during the first three months of 2002, Deputy Prime Minister and Economy Minister Nikolay Vassilev announced after his meeting with Jerald Schiff, head of the IMF mission to Bulgaria. The two offic

Business | May 15, 2002, Wednesday // 00:00 | Viewed: 341

IMF APPROVES STATE RAILWAYS DEBT WRITE OFF

“I don’t see a problem with the Cabinet writing off the BGN 127 M debt of the State Railways Company,” Jerald Schiff, head of the IMF mission to Bulgaria said after meeting with Bulgaria’s Transport Minister Plamen Petrov. Transforming the company’s debt

Business | May 14, 2002, Tuesday // 00:00 | Viewed: 389

N-PLANT FIFTH, SIXTH UNITS CAN WORK AT LEAST THIRTY YEARS MORE

Fifth and sixth units of Nuclear Power Plant Kozloduy after their modernization is finalized in the end of 2006, the Bulgarian news agency reported, quoting the Executive Director of Siemens – Bulgaria Petur Mishev. Simens is one of the companies that exe

Business | May 14, 2002, Tuesday // 00:00 | Viewed: 352

CHIMIMPORT BUYS ARMEETS INSURER

The Privatization Agency named Chimimport as buyer of a 91,75% state stake in the insurance company Armeets. Chimimport was the only company that participated in the tender.

Business | May 14, 2002, Tuesday // 00:00 | Viewed: 549
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