Business

GROSS DOMESTIC PRODUCT WENT UP 4 PERCENT IN 2001

Gross Domestic Product went up 4% in 2001, preliminary data of the National Statistical Institute show. GDP stood at USD 13,55 BLN with USD 1705 per head.

Business | April 26, 2002, Friday // 00:00 | Viewed: 512

CEYLAN MAY HINDER ITALY’S INVESTOR IN GORDA ARDA

Turkey’s Ceylan warned it may hinder the participation of Italy’s potential investor Enel Power in Gorna Arda Hydropower Company April 26. The official announcement of the company says that only Ceylan can name successor in the construction of the cascade

Business | April 26, 2002, Friday // 00:00 | Viewed: 705

HOSPITALS CHECKED FOR GREEK VIRUS INFECTIONS

The Health care Ministry ordered urgent checks to be made in the hospitals for cases of infections with the unidentified virus that hit Greece. All patients who were hospitalised with symptoms similar to those in Greece, will be tested for the unknown vir

Business | April 26, 2002, Friday // 00:00 | Viewed: 575

TURKEY'S CEYLAN WILL NOT NAME SUCCESSOR IN GORNA ARDA

Turkey’s Ceylan has not been authorized to name a potential successor in its joint venture with Bulgaria’s National Electricity Transmission Company, Energy Minister Milko Kovachev said. The decision on including a strategic investor in the joint venture

Business | April 26, 2002, Friday // 00:00 | Viewed: 628

LEFTIST OPPOSITION APPROACHED COURT ON CROWN AGENTS

MPs of Coalition for Bulgaria and the five independent MPs who left the group of Simeon II National Movement some time ago referred to the Constitutional Court some of the texts of the contract with British company Crown Agents, contracted by the governme

Business | April 25, 2002, Thursday // 00:00 | Viewed: 455

DEADLINE FOR UNSOLD TOBACCO OFFERS EXTENDED

The deadline for submitting offers for the purchase of 12,000 tons of unsold tobacco is to be extended till end-April, that’s by three more working days, Georgi Popov, Managing Director of Bulgartabac Holding, said. The sale price is set at USD 20 M and t

Business | April 25, 2002, Thursday // 00:00 | Viewed: 506

EBRD AGREEMENT RATIFIED BY PARLIAMENT

A guarantee agreement with the European Bank for Reconstruction and Development was ratified by Parliament under a credit agreement for a EUR 41 M loan between the National Electricity Transmission Company and the bank. The loan is to finance the project

Business | April 25, 2002, Thursday // 00:00 | Viewed: 401

SAPARD-FUNDED PROJECTS EXPECTED TO INCREASE END-YEAR

The range of projects funded by SAPARD, the European Commission special accession program for agriculture rural development, will expand till end-year, Deputy Agriculture Minister Andriyana Tosheva said. An intermediary evaluation on the implementation of

Business | April 25, 2002, Thursday // 00:00 | Viewed: 374

BELARUS SUGGESTS OPEN ECONOMIC SPACE REGULATIONS

Bulgaria and Belarus may consider the introduction of "open economic space" regulations as is the case between Belarus and Russia, Belarus Ambassador Alyaksandr Pyatrov said at a a roundtable “Belarus: Promising trade partner" organized by the Bulgarian C

Business | April 25, 2002, Thursday // 00:00 | Viewed: 509

BUREAUCRACY, UNCLEAR LAWS HINDER GERMAN INVESTMENTS

Red-tape, corruption, numerous licensing and authorization requirements and fuzzy points in key economic laws are some of the obstacles German investors in Bulgaria face, which were enumerated at the working meeting of the Roland Berger consulting firm wi

Business | April 25, 2002, Thursday // 00:00 | Viewed: 419

BANK CONSOLIDATION COMPANY MAY GET 75% IN STATE SAVINGS BANK

Under the sell-off plan of the State Savings Bank the Cabinet is expected to transfer 75 percent, it owns in the State Savings Bank to the Bank Consolidation Company (BCC), the government body that manages the privatisation of state banks. The operation i

Business | April 25, 2002, Thursday // 00:00 | Viewed: 470

NO CASES OF GREEK VIRUS INFECTIONS SO FAR

No cases of infections with the unidentified virus that hit Greece and claimed the lives of five persons there have been registered in Bulgaria, Health Minister Bozhidar Phinkov said. The Health care Ministry asked for more information about the mysteriou

Business | April 25, 2002, Thursday // 00:00 | Viewed: 560

BULGARIA SHAKEN BY QUAKE 130 KM SOUTHWEST OF SOFIA

An earthquake with an epicentre some 130 km southwest of Sofia outside Bulgarian territory was felt in Bulgaria at 1:52 pm April 24. The quake lasted more than one minute, followed by another three tremors later on, measuring 4,3; 4,4 and 4,5 on the Richt

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 459

TWO MORE COMPANIES SAID TO SEEK LICENSES FOR RAILWAYS TRANSPORT

LUKoil Neftochim – Burgas and Kremikovtzi steel maker has requested that consultations with the Transport Ministry be held on the conditions of getting a license for private cargo railway carrier, Georgi Nikolov, Executive Director of the Railway Administ

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 441

N-PLANT UNITS SAFETY ASSESSED POSITIVELY AT VIENNA

No disapproving remarks on the safety of the first four units at Nuclear Power plant Kozloduy have been made at the Vienna meeting of countries, which signed the Convention on Nuclear Safety, Emil Vapirev, head of the Committee for the Use of Atomic Energ

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 369

TELECOMMUNICATION SECTOR TO BE DISCUSSED AT INT'N'L VIDEOCONFERENCES

A videoconference Sofia – Athens, due to open April 24, 2002, will mark the beginning of a series of international videoconferences in the telecommunication sector, organized by the Institute of Researches of Eastern Aegean. Prospects for development of t

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 402

EC EXPECTS SLOWER ECONOMIC GROWTH IN EU CANDIDATE STATES IN 2002

The European Commission said it expected slower economic growth for the ten EU candidate ex-communist countries in 2002 due to the effects of last year's slowdown in the global economy. However, in its annual spring forecast, the Commission said the regio

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 442

EXCISE DUTY STAMPS FOR LIQUOR AND TOBACCO EXPORTS REMOVED

Excise duty stamps for liquor and tobacco products for export will not be obligatory, amendments to the Tax Procedure Code, passed by Parliament envisage. Tobacco products for sale in duty-free shops will be sold only with a "for duty free only" stamp rat

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 432

POST BANK TO PAY 8,8% DIVIDEND

Bulgarian Post Bank will distribute its 2001 net profit of BGN 4,5 M as dividend equal to 8,8% of the shares’ par value, the bank's shareholders decided April 23. The bank paid its 2000 net profit as dividend equal to 3,87% of the shares’ face value.

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 480

IMF APPROVES BULGARIA’S AGREEMENT IMPLEMENTATION

The implementation of the two-year agreement between the IMF and Bulgaria and the corruption combat in particular were positively assessed at the meeting of IMF Managing Director Horst Koehle and Prime Minister Simeon Saxe-Coburg, who is on an official vi

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 540

ZEEVI HOLDING MAY JOIN FLAG CARRIER’S LIST OF CREDITORS

The Sofia City Court decided on April 23 to proceed with the case of the Zeevi Holding subsidiaries ZBI and Balkan Airline Holdings (BAH). They claim they are owed BGN 49 M by the insolvent carrier.

Business | April 24, 2002, Wednesday // 00:00 | Viewed: 480
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria