Business

MINERALBANK BANKRUPTCY CASE POSTPONED AGAIN

Socia District Court postponed yet one more time the case on siphoning Mineralbank because the witnesses did not turn up in court. The four witnesses, who were summoned to court, failed to give statements, since they were out of the country.

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 516

NEW SELL-OFF PROCEDURE FOR INCOMS-TELECOM OPENED

The Privatization Agency announced on April 2 a tender for Incoms-Telecom Holding. An announcement for that was published in the State Gazette.

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 439

US CONSORTIUM TO INVEST IN FARM INDUSTRY

A consortium of John Deere and Valmont Industries, US-based farm equipment manufacturers, plan to invest in farm irrigation projects in Bulgaria, Todor Todorov, head of the state-owned Irrigation Systems, said. Talks with the two leading world producers h

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 530

BULGARTABAC TO HALT CIGARETTE PRODUCTION IN RUSSIAN FACTORY

The contract between Bulgaria’s tobacco giant Bulgartabac Holding and a factory in the Russian city of Podolsk on the production of Bulgarian brands of cigarettes has been declared void, the company’s CEO Georgi Popov said, quoted by Dnevnik Daily. Accord

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 562

NAVIGATION MARITIME BULGARE WON VARNA SHIPYARD TENDER

Bids for Bulgaria’s Varna shipyard reached 84 percent of the company’s evaluation, which amounted to USD 18 M. That means that in case that there are no violations of the tender that took place on April 2 the shipyard will be sold for USD 15,12 M to Navig

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 479

HEBROSBANK OWNER INTERESTED IN TELECOM SELL-OFF

iRegent Group Limited, majority owner of Hebrosbank is interested in the privatisation of the Bulgarian Telecommunications Company (BTC), Gautam Vir, CEO of HebrosBank said. A company within the group in a consortium with telecommunications firms will par

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 476

FLAG CARRIER DEBTS INCREASING

A revision of the list of the creditors of Bulgaria’s flag carrier Balkan airlines had revealed debts of BGN 291.538 M as of March 2001, almost double the amount previously announced, receiver Mollov announced April 2.

Business | April 3, 2002, Wednesday // 00:00 | Viewed: 529

TWO COMPANIES SAID TO BID IN VARNA SHIPYARD TENDER

Two serious investors are expected to bid in Varna shipyard tender, Deputy Prime Minister and Ecomony Minister Nikolay Vassilev said at a press conference in the town of Turgovishte, where he is on a visit. He said that according to the information he has

Business | April 2, 2002, Tuesday // 00:00 | Viewed: 612

INDONESIAN-US GROUP TO BID FOR VARNA SHIPYARD

An Indonesian-American consortium is expected to bid in today’s tender for Varna Shipyard’s assets, sources from the company said, quoted by Dnevnik Daily. Indonesian Ratra Group, which holds a 70% stake in the consortium, is to pay the deposit.

Business | April 2, 2002, Tuesday // 00:00 | Viewed: 514

COCA COLA BULGARIA TARGETS INCREASED MARKET SHARE

Coca Cola Bulgaria, part of the world’s biggest soft drink group, plans to expand its operations on the Bulgarian market by launching new Fanta soft drink at March-beginning. The sales of the new wild berry-flavored product exceeded the company’s expectat

Business | April 2, 2002, Tuesday // 00:00 | Viewed: 1716

SUNNY BEACH HOLDING POSTS RECORD PROFIT FOR 2001

Sunny Beach Holding posted a record profit of BGN 527,000, or BGN 1.35 per share for 2001.

Business | April 2, 2002, Tuesday // 00:00 | Viewed: 625

FLAG CARRIER STARTS LAY-OFFS THIS MONTH

Bulgaria’s flag carrier Balkan Airlines will lay off 500 employees in April, the company's spokesperson announced. This is envisaged in the rehabilitation program of the carrier and is also one of the requirements of the creditors, tabled in Court last we

Business | April 1, 2002, Monday // 00:00 | Viewed: 834

NATIONAL BUREAU GREEN CARD ENDS BULSTRAD MONOPOLY

The National Bureau Green Card is to be officially opened today, terminating the monopoly of Bulstrad on automobile insurance for travelling abroad, called Green Card. The Bureau was established in July 2001 by eleven insurance companies– Alianz Bulgaria,

Business | April 1, 2002, Monday // 00:00 | Viewed: 580

DEADLINE FOR SALE OF STATE SAVINGS BANK SET AT END-JUNE, 2003

Bulgaria’s State Saving Bank DSK should be sold by June 30, 2003, Nelly Kordovska, Executive Director of the Bank Consolidation Company said. The Bank Consolidation Company (BCC), the government body that manages the privatisation of state banks, adopted

Business | April 1, 2002, Monday // 00:00 | Viewed: 501

EU REQUIREMENT ON PLANES TO AFFECT PARTLY HEMUS AIR

During summer 2002 the flights of only three of all 19 planes of Bulgarian airlines Hemus Air are to be affected by European Union new requirements, Dimitur Pavlov, Executive Director of Hemus Air, said. His statement was prompted by the announcement that

Business | April 1, 2002, Monday // 00:00 | Viewed: 511

BIDS FOR VARNA SHIPYARD NOT SUBMITTED, DAILY REPORTS

No bids have been submitted for Bulgaria’s Varna shipyard, a check of Bulgaria’s Pari daily showed, the daily reported on April 1. The deadline for submitting the bids expires at 12pm on April 2.

Business | April 1, 2002, Monday // 00:00 | Viewed: 422

BULGARIAN PLANT MAY REPAIR BELL HELICOPTERS

US Bell Helicopters, a division of Textron Inc., plans to licence Sofia-based Letets plant for repair works that would enable the plant to draw orders from neighbouring countries in SE Europe.

Business | April 1, 2002, Monday // 00:00 | Viewed: 781

FOREIGN COMPANIES OWE BULGARIA USD 50 M

Sanctions, imposed by the Privatization Agency (PA) on 49 foreign buyers, who didn't execute the signed contracts, amount to USD 42.8 M and BGN 20.

Business | April 1, 2002, Monday // 00:00 | Viewed: 491

POLICE CHECKS ON SOFTWARE LICENSES CONTINUE

During ongoing police checks of software licenses, unlicensed software worth USD 50,000 has been seized at a Sofia private company. Representatives of the company failed to present licenses for using the numerous copies of Windows 98 SE, Windows ME, MS Of

Business | April 1, 2002, Monday // 00:00 | Viewed: 472

SOFIX INDEX DOWN DESPITE SOPHARMA AND SUNNY BEACH RISE

Sofix index went down from 119,91 points at the end of last week to 118,86 points when the market closed. The rise in Sopharma and Sunny Beach shares was not enough to compensate the fall with LUKoil Neftochim refinery and Blagoevgrad BT cigarette factory

Business | March 31, 2002, Sunday // 00:00 | Viewed: 665

ABOUT 40% OF PRIVATIZATION CONTRACTS WITH ANNEXES

A total of 379 annexes to privatization contracts have been signed by the Privatization Agency (PA), Petko Nikolov, chairman of the surveillance council of the Agency announced. PA has concluded 954 contracts in the period from 1993 till March 22 this yea

Business | March 31, 2002, Sunday // 00:00 | Viewed: 510
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