THREE INDICATIVE OFFERS PLACED FOR BIOCHIMBANK
Three indicative offers were placed for Biochimbank, Bulgaria’s fourth largest bank. The deadline for submitting offers for the bank, expired on May 20.
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KREMIKOVTSI STEEL PLANT STARTS PAYING OUT DEBT TO STATE RAILWAYS
Kremikovtzi steel plant starts paying out its debt to the state railways company as of May 20 by paying EUR 10,000 a day, the plant announced. Kremikovtzi owes to the railways company some BGN 10,000 M.
AMERICAN COMPANY TO INVEST IN JEWELLERY FACTORY
The municipality of Pazardzhik signed an agreement for cooperation with an American company for the construction of a factory for golden jewellery. Some 2,000 people will be hired in the new factory that will be built in the outskirts of Pazardzhik.
EBRD INVESTED EUR 100 M FOR FOUR MONTHS IN BULGARIA
For four months from January to April 2002, the European Bank for Reconstruction and Development (EBRD) invested in Bulgaria about EUR 100 M. The bank has never invested such an amount in less than a year before, Bulgaria's Finance Minister Milen Velchev
GREECE WITH CONDITION FOR BULGARIA'S STAKE IN BALKAN OIL PIPELINE
Greece said that it agreed to Bulgaria's demand for an equal share of participation in the construction of the trans-Balkan oil pipeline Burgas –Alexandroupolis. However, Athens said it would like the participation stake of each country to be re-negoatiat
OVERGAS TO CONSTRUCT GAS NETWORK IN PLOVDIV
Overgas Holding AD will take over the construction, operation and maintenace of the gas distribution network for households in Bulgaria's second biggest city of Plovdiv. The company will invest in the project more than USD 15 M, Plovdiv Mayor Ivan Chomako
BULGARIA LIKELY TO JOIN EU SOON, HEAD OF IMF MISSION CLAIMS
There are no reasons why Bulgaria should not become a member of the European Union in the short term, Jerald Schiff, head of the IMF mission to Bulgaria, said. Voicing the opinion of the IMF he said that the budget must remain within the framework discuss
US TO INVESTIGATE MONEY LAUNDERING ON THEIR TERRITORY
The United States are poised to take part in investigating money laundering crimes of Bulgarians on the territory of the country, representatives of the US Justice Ministry assured Justice Minister Anton Stankov. Both sides were unanimous that decisive me
BULGARIAN POSTS MONOPOLY EXTENDED, NO EXPIRY DATE SET
Bulgarian Posts monopoly over the sector of universal post service will be extended, the Cabinet decided end-week, when its updated sector policy on posts. Under the current law the BG Posts monopoly expires at the beginning of 2003.
EBRD PLEDGED SUPPORT FOR REFORMS AND PRIVATE SECTOR
The European Bank for Reconstruction and Development (EBRD) will continue to support actively the structural reforms and the private sector in Bulgaria, it transpired after the meeting of the Bulgarian delegation for the annual meeting of the bank with Je
IMF WITH QUALIFIED SUPPORT FOR INCREASED BUDGET SALARIES
The International Monetary Fund will not take a stand against increase in budget salaries, provided that the Cabinet has the necessary reserves for that and the move is agreed with the social partners. This transpired at the meeting of Jerald Schiff, head
RAIFFEISENBANK BULGARIA POSTED NEARLY BGN 2 M OF PROFIT
Raiffeisenbank Bulgaria posted BGN 1,83 M of profit, approved at the annual general shareholders’ meeting May 17 in Vienna. The shareholders of Raiffeisenbank Bulgaria, Raiffeisenbank Central bank and
NEFTOCHIM CHECK RELATED TO TAX EVASION INVESTIGATION IN TORINO
Representatives of the Italian prosecution and officers from the Special Investigation Service conducted a check May 16-17 of documents at LUKoil Neftochim-Burgas, related to the refinery’s environment project. According to the Italian Prosecutor Paolo St
DEADLINE FOR FINALIZING BANK SELL-OFFS SET AT 2003
Bulgaria hopes to complete in July the sell-off of Bulgaria’s fourth largest bank Biochim and by March 2003 – that of State Savings Bank DSK, an official from the Bank Consolidation Company, announced. Biochim and DSK are the only two state-owned banks ou
WAYS OF PICKING UP ECONOMIC RELATIONS WITH CHINA SOUGHT
Comprehensive policy should be developed to attract Chinese investments, President Parvanov said at his meeting with a Chinese delegation led by Li Ruihuan, Chairman of the People's Political Consultative Council. The Head of State underlined that Bulgari
STATE ADMINISTRATION LICENSED TO USE LOCALIZED MICROSOFT PRODUCTS
The General Director of Microsoft Bulgaria Teordor Milev officially presented the State Administration Minister Dimitur Kalchev with license that enables the state administration to use the Bulgarian version of MS Windows and MS office XP. In late March,
AUSTRIAN COMPANY ACQUIRES NIKOPOL BOARD MILL
The Austrian carton board maker Mayr-Melnhof announced on Friday it had acquired the Nikopol board mill in Bulgaria. The Bulgarian company is with a current annual capacity of some 70,000 tons of recycled fibre-based board.
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.
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
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.
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.
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