DEADLINE FOR OFFERS FOR BIOCHIMBANK EXTENDED TILL MAY
The Bank Consolidation Company has extended the deadline for submitting privatization offers for state-owned Biochimbank. The candidates should complete due diligence at the bank by April 19.
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GOVERNMENT TO GUARANTEE EUR 41.1 M LOAN FOR NATIONAL ELECTRIC COMPANY
The Cabinet approved a guarantee agreement with the European Bank for Reconstruction and Development (EBRD) for a loan, amounting to EUR 41,1 M extended to the National Electric Company. The agreement is tabled in Parliament for ratification.
FOREIGN DEBT MANAGEMENT CONTRACTS TABLED IN PARLIAMENT
The Government approved and tabled in Parliament a placement contract and lead management contract with J.P.
EBRD IN TALKS WITH CABINET ON PURCHASE OF MINORITY STAKES IN TELECOM
The European Bank for Reconstruction and Development(EBRD) said on March 7 it was in talks with Bulgaria's government on the possible purchase of a minority stake in state telecom the Bulgarian Telecommunications Company before its planned sell-off to ass
CANON EUROPE LAUNCHED NEW MARKETING STRATEGY
Canon Europe launched its inspirational brand platform “You Can”, designed to engender a feeling of creative empowerment throughout its organization and across all markets. During the first real-time press conference at Hilton Sofia a connection was estab
AUTHORITIES TO DECIDE SOON HOW TO PRIVATISE TOBACCO MONOPOLY, TELECOM
The Ministry of Economy and the Privatization Agency will decide how to start the privatisation procedure of the Bulgarian Telecommunications Company and Bulgartabac Holding, Economy Minister and Deputy Prime Minister Nikolay Vassilev said before the regu
PARLIAMENT APPROVED BULGARIA’S TOBACCO MONOPOLY SELL-OFF PLAN
Parliament approved the privatisation strategy of the Bulgarian tobacco monopoly Bulgartabac Holding with the nine amendments, proposed by the Movement for Rights and Freedom on March 6. The political organization demanded that the requirements for the po
NEWLY APPOINTED DEPUTY FINANCE MINISTER PROMISES BETTER COMMUNICATION
The newly appointed deputy finance minister Gati al-Jiburi declared that he was convinced that with dialogue and discussions among all interested sides, he will manage to find the right decisions and reach budget and revenues stability. His predecessor At
STATE SAVING BANK MORTGAGE BONDS TO BE ISSUED SOON
State Saving Bank will launch within days a planned issue of two-year BGN 8 M coupon mortgage bonds with a par value of BGN 100, Ognyan Yordanov, the Bank’s Executive Director said. The thirty-day subscription period might start before the end of the week
US STEEL SANCTIONS NOT TO AFFECT BULGARIA
The dispute about the protective import customs duties introduced by US will not affect the Bulgarian steel producers, Dimitur Kuzmanov, deputy CEO of Bulgaria’ s steel maker Kremikovtzi said. For the time being Kremikovtzi does not export steel to the US
BULGARIA'S FLAG CARRIER DEMANDS HEMUS AIR TO BE DECLARED BANKRUPT
Hemus Air to be declared bankrupt for a debt to Balkan Airlines amounting to USD 300,000, Bulgaria's flag carrier's receivers Olga Milenkova and Hristo Mollov insisted. On Tuesday they filed a claim to the Sofia City Court seeking the airline's insolvency
VETO ON PRIVATIZATION ACT TO DELAY KEY PRIVATIZATION DEALS
The veto on the Act on privatisation and post-privatization control on behalf of the President will delay the sale of the Bulgarian Telecommunications Company (BTC) and will lead to a reduction in the Telecom price, Transport Minister Plamen Petrov comme
HUNGARY MAY INVEST IN TELECOM AND INFRASTRUCTURE PROJECTS
Hungary is interested in investing in Bulgaria, primarily in infrastructure and telecommunication projects, Hungarian Foreign Minister Janos Martonyi said at his meeting with Foreign Minister Passy. Bilateral political and economic relations, Euroatlantic
PRESIDENT VETOED NEW PRIVATIZATION AND POST-PRIVATIZATION CONTROL ACT
President Parvanov sent back to Parliament for further consideration the new act on privatization and post privatisation control, adopted on February 21, 2002. This is the first veto imposed by the President since taking office in January 2002.
BULGARIAN PLANT MAY PRODUCE TV MONITORS FOR SAMSUNG
Veliko Turnovo-based electronic equipment producer Bitova Elektronika may set up a joint venture with Samsung Electronics to produce TV monitors and display panels, the plant’s Executive Director Ognyan Kostadinov told Deputy Prime Minister and Economy Mi
HEWLETT-PACKARD READY TO BUILD E-VOTE SYSTEM IN BULGARIA
Hewlett-Packard is ready to invest in the development of electronic referendum voting system in Bulgaria, Peter Testen, HP’s Vice President said after a meeting with Bulgaria’s President Parvanov. “The idea is to bring the President closer to the citizens
MOBILTEL THREATENS TO TAKE AWAY BAD DEBTORS’ PASSPORTS
Bulgaria’s first GSM operator MobilTel announced that it will ask the Interior Ministry to seize the passports of its subscribers who have outstanding debts t the company in order to prevent them to leave the country. Bulgarian legislation reads that auth
EADS CONSORTIUM DEMANDS NEW POLITICAL DECISION ON MIG-29
We expect the Cabinet to announce its political decision on the companies, which are to carry out the upgrade and overhaul of the Bulgarian MiG-29 fighter aircraft in several days, Ingo Bergman, EADS Regional Sales Deputy Manager, said. If there are signs
REAL–TIME VIDEOCONFERENCING OFFERED AT HILTON SOFIA
The first in Bulgaria Center for real-time videoconferencing was opened March 5 by Armin Zerunyan, General Manager of Hilton Sofia. The Center, situated in the foyer of the hotel, offers the opportunity to make a connection with any place around the world
FOREIGN BUSINESSMEN INTEREST IN BULGARIA ROUNDTABLE INCREASED
The third Roundtable with the Government of Bulgaria shows a considerable increase in the interest on the foreign business community in Bulgaria, Iren Komitova, organizer of the forum, announced.
EARTHQUAKE 290 KM SOUTHEAST OF SOFIA REGISTERED
An earthquake measuring about 4.5 points on the Richter scale was registered at 7.
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