Business

HUNGARY’ MATAV REPORTED TO BE INTERESTED IN TELECOM

Hungary’s telecommunications company MATAV, majority owned by Deutsche Telecom, has shown interest in the financial performance of the Bulgarian Telecommunications Company, Dnevnik Daily reported. In a separate development, the president of Russia’s finan

Business | May 14, 2002, Tuesday // 00:00 | Viewed: 453

SHERATON SOFIA HOTEL WITH NEW OWNERS

Four companies bought a total of 67,5% equity in Sheraton Sofia Hotel Balkan from majority owner South Korea’s Daewoo Group, brokers announced. More than 320, 000 shares were traded on the Bulgarian Stock Exchange reached a record – high price of BGN 146

Business | May 14, 2002, Tuesday // 00:00 | Viewed: 983

DEFLATION OF 0,1 PERCENT IN APRIL

Deflation of some 0,1 percent was marked in April, the National Statistical Institute announced. The accumulated inflation since the beginning of 2002 is 5,1%.

Business | May 13, 2002, Monday // 00:00 | Viewed: 429

IMF APPROVED PROPOSED BY CABINET THREE-YEAR TAX POLICY

Finance Minister Velchev and Jerald Schiff, IMF mission to Bulgaria head met on May 13 to review the implementation of the commitments the government has undertaken under its agreement with IMF. Velchev presented to Schiff the draft of the three-year tax

Business | May 13, 2002, Monday // 00:00 | Viewed: 385

PARTICIPANTS AT INT'N'L PLOVDIV FAIR HIT RECORD HIGH

More than 1,200 companies from 44 countries participate in the 22d International Plovdiv Fair of consumer goods and technologies, which opened on May 13 with a ceremony, attended by Deputy Prime Minister and Economy Minister Nikolay Vassilev.” The fair il

Business | May 13, 2002, Monday // 00:00 | Viewed: 395

GREEK OTE REPORTEDLY PLANS TO BID FOR TELECOM MONOPOLY

Greece’s OTE, owner of Bulgaria’s second GSM operator Globul, will submit an indicative offer for the privatization of the Bulgarian Telecommunications Company (BTC) this week, Pari Daily reported. The Greek telecom has already bought an information memor

Business | May 13, 2002, Monday // 00:00 | Viewed: 355

PHARE FUNDING TO BE SOUGHT FOR CROSS BORDER PROJECT WITH GREECE

Funding under PHARE program for the construction of a road from Rudozem to the Greek border, equaling EUR 200 M, will be sought by Bulgaria, a regional development official said, quoted by Dnevnik Daily. The construction of the road is part of a joint cro

Business | May 13, 2002, Monday // 00:00 | Viewed: 442

US WILL BE TOP INVESTOR IN BULGARIA IN FIVE YEARS, DEPUTY PM SAYS

The managers of investment funds and banks in the United States, with which Bulgaria’s Deputy Prime Minister and Economy Minister Nikolay Vassilev had meetings in US, assessed highly the recent reforms, conducted by the government to reduce the country’s

Business | May 12, 2002, Sunday // 00:00 | Viewed: 424

LEADING TURKISH TEXTILE COMPANY STEPPED ON THE BULGARIAN MARKET

The Turkish company Zorlu Holding Textile Group, one of the world leaders in the production of home textile opened its first shop Linens in Sofia. “This shop is the 40th in the chain Linens and the fourth that is not on the territory of Turkey.

Business | May 12, 2002, Sunday // 00:00 | Viewed: 668

FINANCE MINISTER EXPECTS GREEN LIGHT FOR SECOND TRANCHE OF IMF LOAN

Finance Minister Milen Velchev said that he expected the mission of the International Monetary Fund, which arrived in Bulgaria last week to acknowledge the good implementation of the governmental program. He added that he hadn’t yet met with the experts f

Business | May 12, 2002, Sunday // 00:00 | Viewed: 458

FOREIGN INVESTORS INTERESTED IN THE ENERGY SECTOR

“In the coming several years there is a possibility some USD 3 BLN to be invested in Bulgaria’s energy sector," Energy Minister Milko Kovachev said. He added that the United States is expected to invest some USD 1,5 BLN in concrete projects and some USD 5

Business | May 12, 2002, Sunday // 00:00 | Viewed: 392

BULGARIAN LEV OPENS FLAT VS EURO AND DOLLAR

Bulgaria's lev opened at 1.9522/1.

Business | May 12, 2002, Sunday // 00:00 | Viewed: 426

DEPUTY PM SAYS AMERICAN INVESTMENTS WILL REACH USD 2 BLN IN FIVE YEARS

The American investments in Bulgaria will reach USD 2 BLN in five years, Deputy Prime Minister and Economy Minister Nikolay Vassilev, who is on a visit to the United States, said. Currently the United States are the sixth investor in Bulgaria are concerne

Business | May 11, 2002, Saturday // 00:00 | Viewed: 390

CIGARETTE PRICES NOT EXPECTED TO GO UP IN 2003, FINANCE MINISTER SAYS

“In 2003, we do not plan increase in the prices of the cigarettes. The excise duty for the cigarette duties is envisaged to go up by 4 % “ Finance Minister Velchev said.

Business | May 11, 2002, Saturday // 00:00 | Viewed: 456

DEPUTY MINISTER PROMOTES BULGARIA TO BUSINESS CIRCLES IN KUWAIT

During his visit to Kuwait, Deputy Economy Minister Milen Keremedchiev met with representatives of local banking and business circles. Keremedchiev arrived on a five-day visit to Kuwait on May 7.

Business | May 11, 2002, Saturday // 00:00 | Viewed: 496

THREE BIDDERS WITH OFFERS FOR BULGARIA’S BIGGEST INSURER

Three bidders have placed indicative offers for Bulgaria’s biggest insurer State Insurance Institute (DZI), the chairman of the supervisory board of the privatization agency Petko Nikolov announced. However, he declined to name the bidders.

Business | May 11, 2002, Saturday // 00:00 | Viewed: 448

FLAG CARRIER LEASED TWO BOEINGS FROM LUFTHANSA

Flag carrier Balkan Airlines signed a lease contract with Lufthansa for a ten-month hiring of two Boeings 737-300s, the receiver of the company Olga Milenkova announced, quoted by Dnevnik daily. The two planes will be in Bulgaria by June 6.

Business | May 11, 2002, Saturday // 00:00 | Viewed: 351

WORLD BANK LOANS USD 750 M TO BULGARIA

The Board of Directors of the World Bank reviewed late on May 9 the Country Assistance Strategy (CAS) for Bulgaria. The CAS will serve as the roadmap for the World Bank Group assistance program to Bulgaria for the coming three years.

Business | May 11, 2002, Saturday // 00:00 | Viewed: 572

IMF MISSION HEAD CONCERNED ABOUT DELAY IN CERTAIN COMMITMENTS

Upon his arrival in Sofia, Jerald Schiff, IMF mission head for Bulgaria, said that he was worried with the delay in the governmental commitment to prepare a schedule for new energy prices. Another concern that he expressed was that Parliament had not so f

Business | May 10, 2002, Friday // 00:00 | Viewed: 385

STATE SAVINGS BANK WITH HIGHER NET PROFIT, WILL UP CAPITAL

Bulgaria's State Savings (DSK) Bank announced on May 10 that its net profit rose by more than 30 % in 2001. The bank also announced that it had decided to increase the bank's capital.

Business | May 10, 2002, Friday // 00:00 | Viewed: 454

UNEMPLOYMENT SLIGHTLY DOWN YEAR ON YEAR

In March, 2001, some 640, 000 (19,5 %) of the active population were unemployed, data of the National Statistics Institute shows. Unemployment went down with 2,1% compared to March last year.

Business | May 10, 2002, Friday // 00:00 | Viewed: 339
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