Ilinden, Pleven-based machine building company, earned USD 1,3 M in 2001 from the sale of six lines for production of aluminium car parts to major US carmakers. According to Vanyo Petrov, Executive Director of the plant, the Bulgarian-invented lines are u
Navibulgar, Bulgaria’s state-owned maritime shipping company, posted a total of BGN 926,000 net profit for the first half of 2001 on BGN 281,4 M revenue from core operations, Dnevnik Daily wrote, citing figures of the company. The company is on the list o
The Cabinet approved a draft agreement for a EUR 70 M loan from the European Investment Bank for the upgrading of a railway stretch that is part of a pan-European transport corridor linking western Europe with Turkey. An agreement for a EUR 80 M loan from
The Cabinet lifted the ban on investment in Yugoslavia on December 6. The ban was imposed in June 1998 part of the international sanctions against Belgrade for its maltreatment of Kosovo Albanians.
Representatives of the British “Marshal” company show interest in the airbase facilities of 'Balkan,' Standart Daily wrote. The airbase of the national flag carrier is the best equipped one on the Balkans.
The Cabinet approved 2001 financial memorandums on Bulgaria’s transborder cooperation with Greece and Romania for a total of EUR 28 M - EUR 20 M for the projects with Greece released under the PHARE program and EUR 8 M for the joint projects with Romania.
The revenues from privatisation of Bulgarian state enterprises in 2002 will be BGN 748 M according to the privatisation program, approved by Parliament. The biggest revenues are estimated to be from the trade sector – BGN 229,805,000 and from the Bulgaria
The Cabinet approved a draft financial memorandum under the National PHARE 2001 Program for Bulgaria with total budget of EUR 82.823 M.
Bank deposits of up to BGN 10,000 will be guaranteed by the State in case of bank bankruptcy, the amendments to the Law on Bank Deposit Guarantee, adopted by Parliament at second reading on December 6, envisage. Under the amendments each bank will make an
“The decision of the Court to revoke the regulations in the Cabinet’s decree, which envisaged a 10% rise in the heating and electricity prices will result in dozens of millions budgetary losses,” Deputy Prime Minister and Economy Minister Vassilev said. A
Chubu Electric Power Co., one of Japan’s ten top power companies, is holding negotiations with Dobrich municipality representatives on the building of a liquefied natural gas-fired power plant, Dnevnik Daily wrote.
The Protesting Committee of the Trade Union of the Bulgarian Railmen in Bulgaria handed to the management of the Bulgarian State Railways a declaration for effective strike action. The representatives of the union also handed an agreement for minimum tran
The first modernized six-kilometers stretch of a railway line connecting Plovdiv and Burgas has been delivered by the Czech company ZS Brno. The company is the main contractor of the project under the European Union PHARE program, whose cost totals EUR 20
The establishment of a special court that will handle bankruptcy cases was proposed by the Bulgarian International Business Association to the Cabinet. According to the Association members the move will speed up the insolvency procedure.
Enel Hydro, the water unit of Italy’s energy giant Enel, tops the list of possible investors in a joint Bulgarian-Turkish hydro-power project worth USD 280 M, assessment of the National Electricity Company (NEC) shows. Enel Hydro is to sign a contract wit
Finance Minister Velchev said upon his return from Brussels that most probably agreement between the Bulgarian government and the International Monetary Fund (IMF) will be signed by December 13. He explained that he expects the IMF to grant to Bulgaria a
PriceWaterhouseCoopers to audit the Varna shipyard was decided at the General Creditors Assembly of the company. “We’ll find a strategic investor for the shipyard,” Deputy Prime Minister and Economy Minister Nikolay Vassilev said after the meeting of the
A three-year action plan under the National Program for Energy Saving until 2010 will help save BGN 350-400 M in energy resources, State Agency for Energy Efficiency Chairman Droumi Droumev said on December 4. The plan studies the possibilities for introd
“I am the only minister who has a real chance to solve Varna shipyard’s problems. I will do everything posiible and no politician or ill-wisher will stop me,” Deputy Prime Minister and Economy Minister Nikolay Vassilev said at the opening of the General C
The Finance Ministry will coordinate, plan and monitor EU funding use, according to the new concept presented by Michel Barnier, EU Commissioner on regional policy, at his meeting with Kostadin Paskalev, Minister of Regional Development, on December 4 in
Changing the currency denomination structure of Bulgaria’s foreign debt is one of Bulgaria’s major priorities, Deputy Finance Minister Krasimir Katev said on December 4, talking about the management of the foreign debt at the annual meeting of the Associa
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