Business

PROJECT ON INTERNATIONAL DEALS OVER THE INTERNET STARTED

The first stage of the Balcard project for smartcards cross-border transactions over the Internet started, said Alexander Matrozov, Managing Director of BORICA Ltd. (Bank Organization for Payments Initiated by Cards), the national card system operator.

Business | February 26, 2002, Tuesday // 00:00 | Viewed: 467

IMF CONSIDERS GOLDEN SHARE OBSTACLE TO MONOPOLIST SELL-OFFS

Bulgaria's decision to keep golden shares in telecom and tobacco monopolies after privatisation may discourage investors and further hinder the already difficult sales, the IMF and analysts said, quoted by Reuters. The government plans to sell up to 65 %

Business | February 26, 2002, Tuesday // 00:00 | Viewed: 330

LARGEST CABLE OPERATOR WILL OFFER WORLDGATE INTERACTIVE TV SERVICE

WorldGate, leading provider of interactive entertainment solutions for the cable television industry, announced that Evrotur Sat TV, Bulgaria’s largest cable operator, has selected WorldGate's interactive products as value-added service offerings for all

Business | February 26, 2002, Tuesday // 00:00 | Viewed: 493

BULGARIA APPLIES FOR MORE PHARE FUNDING

Bulgaria’s projects under PHARE for 2002 exceed almost two times the estimates of the European experts based on the implementation of projects in previous years, Deputy Economy Minister Sofia Kasidova said. According to European experts Bulgaria lacks the

Business | February 26, 2002, Tuesday // 00:00 | Viewed: 418

FERTILIZER PRODUCER DOUBLES CARBAMIDE PRODUCTION

Vratsa-based fertilizer plant Chimco doubled its carbamide output for domestic consumption, the management said. Running at 50% of its production capacity, the company produces 600 tonnes of carbamide every day.

Business | February 26, 2002, Tuesday // 00:00 | Viewed: 569

FLAG CARRIER FINALIZED SALE OF FOUR HEATHROW SLOTS

National carrier Balkan Airlines finalized the sale of four of the slots at London Heathrow Airport, receiver Hristo Mollov announced. The slots will become property of British Airways against 3,150,000 pounds.

Business | February 25, 2002, Monday // 00:00 | Viewed: 806

WORLD BANK AIMS TO BOOST CUSTOMS EFFICIENCY

The World Bank will suggest that the Cabinet work out a program for subsidizing the poorest electricity consumers, and not the producers, it transpired after the meeting of President Parvanov and Andrew Vorkink, World Bank Director for Bulgaria, Romania a

Business | February 25, 2002, Monday // 00:00 | Viewed: 671

DEBT ACCORD EXPECTED TO MELT ICE WITH RUSSIA

"We've managed to close down a page in Bulgarian-Russian relations, which the previous governments did not do for seven years. This is the first step in melting the ice between the two countries," Bulgaria’s Deputy Finance Minister Katev said, commenting

Business | February 25, 2002, Monday // 00:00 | Viewed: 576

CABINET TO WRITE OFF BGN 128 M DEBT OF RAILWAY COMPANY

Bulgaria's government will write off a BGN 127.5 M debt owed to the state by indebted state railway company, a senior Transport Ministry official said February 25, quoted by Reuters.

Business | February 25, 2002, Monday // 00:00 | Viewed: 504

CASE ON BALKANBANK LEAKAGE POSTPONED AGAIN

Veliko Turnovo District Court postponed the hearing of the case on Balkanbank leakage of funds February 25 and rescheduled it for March 28. The third postponement of the case followed the Court’s decision on irregularities in summoning Roseximbank represe

Business | February 25, 2002, Monday // 00:00 | Viewed: 564

FOREIGN INVESTORS EYE DEBT-RIDDEN VIDACHIM

Italian and Russian investors have shown interest in acquiring bankrupt rubber producer Vidachim, given that the state writes off the company’s debt, Privatization Agency announced. Italy’s Marangoni and Russia’s Tetraneft are two of the investors, the na

Business | February 25, 2002, Monday // 00:00 | Viewed: 383

BANK ASSETS UP BGN 120 M

Bank Assets in January rose to BGN 120 M, Central Bank data show. The total assets of the banking system amounted to BGN 12,340 BLN end-January in 2001.

Business | February 25, 2002, Monday // 00:00 | Viewed: 627

ELECTRICITY TRANSMISSION COMPANY TO SEEK POWER EXPORTS INTERMEDIARIES

The National Electricity Transmission Company (NEC) may call an international tender for intermediaries in power exports, Dnevnik Daily reported, citing representatives of the company. The tenders will be opened this year given that production capacity is

Business | February 25, 2002, Monday // 00:00 | Viewed: 623

SWISS-BASED COMPANY BUYS MANGANESE CONCESSION HOLDER

Swiss-based Olberg Holding acquired 100% of the shares of Evromangan AD company that holds a 25-year concession for the idled Oborishte manganese mine. The buyer plans to buy new equipment, rehabilitate the facilities, restart production and raise output

Business | February 25, 2002, Monday // 00:00 | Viewed: 1192

HEAD OF IMF MISSION TO BULGARIA: TAX BURDEN SHOULD BE REDUCED

“Generally, I am for reducing the tax burden,” Piritta Sorsa, Head of the Bulgarian mission of the International Monetary Fund (IMF) said in an interview for Standart Daily, pointing out that it should always be made sure that the budget revenues will suf

Business | February 24, 2002, Sunday // 00:00 | Viewed: 488

PRIVATIZATION AGENCY TO SELL 80% OF ELISSEINA COPPER SMELTER

The Privatization Agency will offer for sale 80% of indebted state-owned copper smelter Eliseina, which has been idle for months already. The sale is to be made via competitive bidding.

Business | February 24, 2002, Sunday // 00:00 | Viewed: 704

BULGARIA’S BANKING SYSTEM WELL CAPITALIZED, NATIONAL BANK REPORT SHOWS

Bulgaria’s banking system is well capitalized, a Bulgarian National Bank report for the first half of 2001 shows. During the first six months of the year, the trend for banks to preserve a high capital adequacy ratio was kept; the indicator was 32,1% comp

Business | February 24, 2002, Sunday // 00:00 | Viewed: 590

ECONOMIC GROWTH COUNCIL TO BE ESTABLISHED IN BULGARIA

The civil union for trade initiative will organize the establishment of an Economic Growth Council, Borislav Borissov, chairman of the managing council with the union announced. The purpose of the union will be to create mechanisms for economic developmen

Business | February 24, 2002, Sunday // 00:00 | Viewed: 386

TELECOM’S SELL-OFF PLAN TO BE TABLED IN COUNCIL OF MINISTERS THIS WEEK

The strategy for the privatization of the Bulgarian Telecommunications Company (BTC) will be tabled in the Council of Ministers during this week, Ilia Vassilev, deputy executive director of the Privatization Agency announced. On February 15, at a closed m

Business | February 24, 2002, Sunday // 00:00 | Viewed: 456

BULGARIAN LEV/EURO EASES ON EURO INVESTMENT

Bulgaria's lev eased against the euro late on Friday as banks continued to buy the single currency to profit from higher yeilding euro deposits, traders said as quoted by Reuters. The lev ended at 1.

Business | February 24, 2002, Sunday // 00:00 | Viewed: 628

BULGARIA’S BIGGEST GSM OPERATOR MOBILTEL AWARDED WORLD QUALITY AWARD

Bulgaria’s biggest GSM operator MobilTel won “World quality award XXI century” of the World Marketing Organization, the company announced. Companies who have extraordinary results in the quality of their products and services, in spite of the difficulties

Business | February 23, 2002, Saturday // 00:00 | Viewed: 487
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