Business

TELECOM SALE EXPECTED TO BE HARD DUE TO GLOBAL SECTOR SLUMP

“It is hard to sell the Bulgarian Telecommunications Company now, given the current global telecom sector slump” the director of the company Boyko Dimitrachkov said. According to him, the international situation in the sector is complicated since during t

Business | March 24, 2002, Sunday // 00:00 | Viewed: 419

STAMBOLIISKI PAPER MILL BOUGHT CELHART ASSETS

The Stamboliiski paper mill bought the assets of CELHART, the kraft paper and sack manufacturer after the assets were sold by the company’s creditors for USD 24,12 M, VAT not included. The paper mill is fully owned by “Elana”.

Business | March 23, 2002, Saturday // 00:00 | Viewed: 1051

SWITZERLAND TO FUND PROGRAM FOR BETTER HYGIENE AT HOSPITALS

Switzerland will extend 2.7 million Swiss francs to finance a programme for improving the hygiene at Bulgarian hospitals.

Business | March 23, 2002, Saturday // 00:00 | Viewed: 392

NEW OWNERS WILL INVEST BGN 300 M MORE IN MOBILTEL

The shares of the biggest Bulgarian GSM operator - MobilTel have finally been transferred to their Austrian owners, Deputy Prime Minister Nikolay Vassilev said upon his arrival from Austria. Vassilev met the new owners of M-Tel, who said that would invest

Business | March 23, 2002, Saturday // 00:00 | Viewed: 506

TELECOM TENDER EXPECTED TO OPEN APRIL 1

The tender for the sale of the Bulgarian Telecommunications Company will open on April 1, Transport Minister Plamen Petrov projected. The documents for the two-stage competition atre currently being prepared by the working group on the Telecom privatizati

Business | March 23, 2002, Saturday // 00:00 | Viewed: 529

EBRD IN TALKS TO FUND SECOND GSM OPERATOR GLOBUL

The European Bank for Reconstruction and Development (EBRD) said on Friday it was in talks with OTE Telecoms to provide up to EUR 100 M to back the expansion of the Greek company's Bulgarian unit, Globul, Reuters reported. However, the bank said it was n

Business | March 22, 2002, Friday // 00:00 | Viewed: 498

PM:RELAXED CONDITIONS FOR FOREIGN INVESTMENTS WILL BE INTRODUCED

By the end of the year there will be “impressive relaxed conditions” for foreign investments in Bulgaria, Prime Minister Saxe-Coburg told businessmen in Vienna during the last day of his visit to Austria. This statement of his was prompted by a question o

Business | March 22, 2002, Friday // 00:00 | Viewed: 575

BULGARIA'S DEBT REDUCED BY USD 80 M AFTER SWAP

The Brady bond swap reduced the net present value of Bulgaria's debt by USD 80 M, and the face value of the debt by USD 270 M, Finance Minister Velchev announced. Finance Minister Milen Velchev said on Friday the swap of Bulgarian Brady bonds for Eurobond

Business | March 22, 2002, Friday // 00:00 | Viewed: 631

TELECOM EMPLOYEES PROTEST, WANT 5% PAY RISE

The employees of the Bulgarian Telecommunications Company (BTC) demanded 5% salaries increase in a special declaration, addressed to the Transport Ministry. Many employees from Sofia, Pleven, Stara Zagora and other towns, protested today in front of the c

Business | March 22, 2002, Friday // 00:00 | Viewed: 448

ORDERS FOR OVER BGN 2 B RECEIVED FOR THE FOREIGN DEBT DEAL

Orders from investors, amounting to over BGN 2 B, have been received in the Finance Ministry, Finance Minister Milen Velchev told the Bulgarian National radio. The concrete results from the swap will be known after 1.

Business | March 22, 2002, Friday // 00:00 | Viewed: 444

BRADY-EURO BOND SWAP RESULTS TO BE KNOWN TODAY

The opposition’s decision to contest in the Constitutional Court the act which ratifies the contracts on foreign debt restructuring did not reflect negatively on the investors in Europe, Finance Minister Milen Velchev said upon his arrival from London, wh

Business | March 22, 2002, Friday // 00:00 | Viewed: 756

GERMAN-RUSSIAN MAPS - SUBCONTRACTOR IN MIG-29 UPGRADE

German-Russian company MAPS (MiG Aircraft Product Support GmbH) was selected by the Defense Ministry as a subcontractor in the project on upgrading Bulgaria’s MiG-29 fighter aircraft. The company did not participate in the tender for upgrading Bulgaria’s

Business | March 22, 2002, Friday // 00:00 | Viewed: 716

ITALY’S SALGIT MAY BUILD HIGHWAY STRETCHES

Italian consortium Salgit may be awarded a concession for building two highway stretches in Bulgaria, Deputy Regional Development Minister Ivan Saev said. The proposals on the highway construction, part of pan-European road network, linking Western Europe

Business | March 22, 2002, Friday // 00:00 | Viewed: 575

STATE-OWNED STAKE IN BALKANCAR COMPANIES UP BY BGN 4,2 M

The Cabinet decided to increase the state-owned stake in the daughter companies of Balkancar Holding by BGN 4,2 M, Kaloyan Ninov, Deputy Economy Minister, announced. The money will be earmarked from the budget and most of them will be back in the budget w

Business | March 21, 2002, Thursday // 00:00 | Viewed: 392

OTE SEEKS TO EXPAND ON BG MOBILE MARKET

OTE Telecoms, Greece's largest company, said it was in talks to raise fresh funds to expand its wholly-owned Bulgarian Globul GSM network and denied reports it planned to sell a stake in the company, Reuters reported. "Both OTE and Globul negotiate on the

Business | March 21, 2002, Thursday // 00:00 | Viewed: 724

DISCLOSURE OF SHORTHAND REPORT TO BE INVESTIGATED

Justice Minister Anton Stankov will propose investigation to be conducted on the disclosure of a shorthand report in Bulgaria’s daily “Trud” from a closed meeting of the Council of Ministers. The report is connected with the controversial contract with Br

Business | March 21, 2002, Thursday // 00:00 | Viewed: 516

PARLIAMENT GAVE GREEN LIGHT TO TELECOM SALE

Parliament ratified the sell-off plan of the Bulgarian Telecommunications Company on March 21. The privatization strategy was approved with 103 votes in favor, 89 votes against and one abstention.

Business | March 21, 2002, Thursday // 00:00 | Viewed: 517

INTEREST IN NEW BOND DEALS INCREASES

Investors looked over a menu of new sovereign bond deals being offered by Bulgaria, Uruguay and Chile, while emerging market debt prices slumped March 20, Reuters reported. After rising more than 6.

Business | March 21, 2002, Thursday // 00:00 | Viewed: 505

IT SECTOR REVENUES ON THE RISE IN 2002

Banks and big businesses will remain the main sources of revenue for the Information Technology sector in 2002, Dnevnik Daily reported, citing analysis of Bulgarian-registered CBN Company. Sales to small private banks are expected to shrink due to tax hik

Business | March 21, 2002, Thursday // 00:00 | Viewed: 458

SUBSCRIPTION FOR DEBT SWAP LAUNCHED

The Bulgarian foreign debt swap auction was launched at 1100 GMT March 21. The whole procedure of accepting orders lasts eight hours, the results will be known on Saturday the latest.

Business | March 21, 2002, Thursday // 00:00 | Viewed: 509

UK CHARLEMAGNE CAPITAL FUND EYES TELECOM

British-based fund Charlemagne Capital may take part in a planned privatisation of Bulgaria's state telecom Bulgarian Telecommunication Company (BTC) in a consortium with a telecom company, Reuters reported, citing a source from the fund. Charlemagne Capi

Business | March 20, 2002, Wednesday // 00:00 | Viewed: 487
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