Business

EUROBANK TO PAY 12% DIVIDEND

Bulgarian private Eurobank is to pay dividend equal to 12% of the face value of the bank’s shares, the bank’s shareholders decided at their meeting. Around 75% of last year’s net profit of BGN 2,372 M will be distributed in the first dividend payment of t

Business | April 9, 2002, Tuesday // 00:00 | Viewed: 348

SEA FLEET PAID BGN 35,5 M FOR VARNA SHIPYARD

The Navigation Maritime Bulgare transferred a total of BGN 35,5 M for acquiring the assets of Varna Shipyard. The credit has been released by Raiffeisenbank, Transport Ministry press atache Sonya Momchilova announced.

Business | April 8, 2002, Monday // 00:00 | Viewed: 506

FERTILIZER PLANT RENEWED PRODUCTION, CUTS CARBAMIDE PRICE

Chimko Vratsa Fertilizer plant renewed production of carbamide on Monday. The plant reduced the price of carbamide for the domestic market due to the increased interest of the agrarian producers.

Business | April 8, 2002, Monday // 00:00 | Viewed: 743

BELENE N-PLANT CONSTRUCTION SAID TO TAKE SEVEN YEARS

It will take about six or seven years for the N-plant to start operating after a political decision for resuming the construction of a second nuclear power plant at Belene is taken, Petur Simeonov, director of Nuclear Power Plant Belene department with th

Business | April 8, 2002, Monday // 00:00 | Viewed: 440

TRANSPORT MINISTRY GRANTS EUR 1 B FOR INFRASTRUCTURE

The Ministry of Transport and Communications has ensured over EUR 1 BLN for the implementation of big infrastructure projects in Bulgaria thanks to which 16,000 new jobs will be created. New jobs are expected to be opened in the related industries, too, T

Business | April 8, 2002, Monday // 00:00 | Viewed: 392

NAVIGATION MARITIME BULGARE MAY FAIL TO PAY FOR VARNA SHIPYARD

The Navigation Maritime Bulgare may fail to pay BGN 35,5 M for the assets of insolvent Varna Shipyard by the end of the day under the conditions of a tender won last week, Dnevnik Daily reported, citing sources from the Navigation Maritime Bulgare. Local

Business | April 8, 2002, Monday // 00:00 | Viewed: 671

GLAVBOLGARSTROY TO BUILD APARTMENT BLOCKS IN TURKEY

Private construction company Glavbolgarstroy will build apartment blocks in Turkey’s town of Adapazari struck by a strong earthquake in 1999, the company executive director Evgeni Marinov said, sited by Dnevnik Daily. The company won the housing construct

Business | April 8, 2002, Monday // 00:00 | Viewed: 511

U.S ENTER ROW OVER BG AIRFIELDS NATO UPGRADE

The US embassy in Sofia backed the selection of US ITT and Canada’s Intelcan Technosystems to upgrade Bulgaria’s Graf Ignatievo and Krumovo military airfields to NATO standards, Dnevnik Daily reported, citing sources from the Defense Ministry. In the note

Business | April 8, 2002, Monday // 00:00 | Viewed: 438

TALKS FOR FUTURE OF N-PLANT BELENE ARE BEING HELD

“We have been holding talks for three months already with Canadian, Russian, American and European investors for the future of the Nuclear Power Plant Belene,” Energy Minister Milko Kovachev said. “We envisage that the price of the electricity once the N-

Business | April 7, 2002, Sunday // 00:00 | Viewed: 479

FOREIGN BUSINESSMEN RELUCTANT TO INVEST DUE TO BUREAUCRACY

“The biggest problem that foreign investors face in Bulgaria is bureaucracy, as well as the frequent changes in some laws and the fact that other laws are not clear,” Nikolay Marinov, head of the Foreign Investments Agency said. Foreign businessmen are re

Business | April 7, 2002, Sunday // 00:00 | Viewed: 413

OFFERS FOR BULGARIA’S BIGGEST INSURER WILL BE ACCEPTED BY APRIL 15

The Privatization Agency will accept offers from the potential buyers of Bulgaria’s State Insurance Institute DZI till the end of the working day on April 15. Afterwards a decision will be taken which of the candidates will be allowed to the second stage

Business | April 7, 2002, Sunday // 00:00 | Viewed: 437

TRANSPORT MINISTER: RESCUE OF FLAG CARRIER IS A HARD TASK

“If it is true that the debts of flag carrier Balkan Airlines are not BGN 165 M but BGN 293 M, in spite of all the efforts that we make it will be very hard to save the airlines from bankruptcy, “ Bulgaria’s Transport Minister Plamen Petrov said. He added

Business | April 7, 2002, Sunday // 00:00 | Viewed: 445

FERTILIZER PLANT CHIMCO REOPENS PRODUCTION

Chimko Vratsa Fertilizer plant will starts production of carbamide and ammonia on Monday, the management of the plant announced. The plant will work till mid-May in order to provide for the necessary quantity of carbamide for the agricultural sector.

Business | April 6, 2002, Saturday // 00:00 | Viewed: 469

INVESTMENTS DURING 2001 LAST QUARTER HIT RECORD HIGH

During the last quarter of 2001, foreign investments in Bulgaria reached USD 194.4 M, up from USD 114 M in the third quarter and USD 100 M in the second quarter, Deputy Prime Minister and Economy Minister Nikolay Vassilev said.

Business | April 6, 2002, Saturday // 00:00 | Viewed: 436

CREDITORS:FLAG CARRIER DEBT AMOUNTS TO USD 181 M

The debt of the Bulgaria’s flag carrier Balkan Airlines amounts to BGN 181 M, Standart Daily reported after the meeting of the creditors of the carrier. Initially, the debt was reported to be BGN 165 M, which have increased by BGN 16 M due to accumulated

Business | April 6, 2002, Saturday // 00:00 | Viewed: 507

TRADE AGREEMENTS WITH SUDAN SIGNED

Bulgaria and Sudan signed two agreements during the visit of a Bulgarian delegation, led by the newly appointed Deputy Economy Minister Milen Keremedchiev. A trade agreement granting each state most-favoured-nation status and an agreement on reciprocal in

Business | April 5, 2002, Friday // 00:00 | Viewed: 1972

SUBSIDIARY OF BANK AUSTRIA CREDITANSTALT OPENED

Bank Austria Creditanstalt Group, which is responsible for the Central and East European markets within HVB Group, has opened a subsidiary bank in Bulgaria. Until now HVB Group had a branch in Sofia and representative offices in the river Danube city of R

Business | April 5, 2002, Friday // 00:00 | Viewed: 511

EVROMETAL STILL INTERESTED IN VARNA SHIPYARD

Evrometal, which failed to win Varna Shipyard tender, announced it is still interested in the company and at the beginning of next week at the earliest will announce its decision on appealing against the tender result. The company still has not withdrawn

Business | April 5, 2002, Friday // 00:00 | Viewed: 557

MONOPOLY ON NUCLEAR ENERGY PRODUCTION REMOVED

The state monopoly on building up and exploitation of nuclear units for generating electric power will be removed, a bill on the use of the nuclear energy for peaceful purposes, approved by the Cabinet envisages. According to Emil Vapirev, chairman of the

Business | April 5, 2002, Friday // 00:00 | Viewed: 510

SG EXPRESSBANK TO PAY 17% DIVIDEND

SG Expressbank will pay a 17% dividend for the first time after it was acquired by the French Societe General three years ago. The number of clients reached 194,000 in 2001.

Business | April 5, 2002, Friday // 00:00 | Viewed: 547

EX-IMF DIRECTOR RECOMMENDS TAX REFORMS

Stanley Fischer, former IMF first deputy managing director and current managing deputy chairman of Citigroup, officially accepted the invitation of Prime Minister Saxe-Coburg to be economic adviser of the government. Tax rates could be slashed in case Bu

Business | April 5, 2002, Friday // 00:00 | Viewed: 493
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