NEW BLAGOEVGRAD BT CEO APPOINTED
The Board of Bulgartabac Holding appointed Hristo Lachev as the new executive director of its most profitable subsidiary, the Blagoevgrad BT AD tobacco factory. Lachev was selected among 16 applicants.
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STRATEGIC DANUBIAN PORT ‘LOM’TO BE DEVELOPED
“The Phare program provides EUR 600,000 for a strategic plan for the development of the Danubian port of Lom (Northwestern Bulgaria),” Transport Minister Plamen Petrov announced. The project is drafted by Hamburg Port Consulting in partnership with a Fren
NEW INVESTOR SOUGHT FOR VEGETABLE OIL REFINERY
“The Economy Ministry will be looking for an investor for the Borgas-based Kambana 1899 vegetable oil refinery, which is undergoing a bankruptcy procedure,“ Deputy Prime Minister and Economy Minister NikolayVassilev announced. Netherlands-based Helian Com
BG-JORDAN COMMITTEE TALK ON COOPERATION IN AMMAN
The third session of the Bulgarian - Jordan committee on economic and technical cooperation takes place in Amman. The session started on November 4 and will continue till November 6.
US COMPANY TO REHABILITATE THERMAL POWER PLANT
The American company Entergy will launch a rehabilitation project for the Maritsa East 3 Thermal Power Plant before the end of the first quarter of 2002. “The company is holding negotiations on the project's funding with ten commercial banks,” Tom Ray, En
CREDITANSTALT BANK TO CONSULT ON BULGARTABAC
The Privatization Agency signed a contract with the Austrian Creditanstalt Investment Bank of Vienna. The bank will act as a consultant on the privatization of Bulgartabac Holding Group..
MINISTER:BULGARIA WITH IMF AGREEMENT BY 2002
“Bulgaria and the International Monetary Fund (IMF) will reach a final agreement by the year's end, “Finance Minister Milen Velchev said in the Bulgarian Parliament during debates on this issue. Velchev quoted conclusions of the IMF made in March that pro
INTEREST TOWARDS BULGARIAN PRODUCTION ABROAD
Thirty Bulgarian companies attracted considerable interest at international fairs in Poland, Germany and the Czech Republic that took place from August to October. Five Bulgarian companies took part in the largest specialized food fair of the CEFTA countr
GERMANY TO FINANCE SMALL BUSINESS IN BULGARIA
Germany set up a Bureau for the Assistance of Small and Medium Business in Southeastern Europe. The Bureau will provide financing for small projects within the countries of the region.
COURT OVERRULED CASCADE’S PRIVATIZATION CLOSURE
“With two decisions from October 31, the Higher Administrative Court overruled the decision of the Privatization Agency to close the privatization procedure for “Sandanska Bistritsa” cascade,” the Chairman of the Board of Directors of the Czech Hydro Ener
EXPERTS: N-PLANT UNITS 3,4 MAY OPERATE AFTER 2006
Associate Professor Dr. Vesselin Bliznakov, Deputy Floor Leader of the Simeon II National Movement Parliamentary Group, Chairman of the National Assembly Committee on Energy and President of the Bulgarian Nuclear Society, and Milko Kovachev, President of
SKIING COMPLEX TO BE CONSTRUCTED NEAR BANSKO
At its regular meeting on November 1 the Cabinet apporoved Yulem Stockholding Company to receive the concession contract for part of Pirin National Park in Southwestern Bulgaria. According to Hristo Bozhinov, Director of the Environment Ministry's Nationa
IMF WANTS MORE INFO ON BULGARIAN DEBT OPERATIONS
The reports in the Bulgarian media for the USD 60 M Bulgarian Brady bonds buy-back are likely to make the International Monetary Fund (IMF) more vigilant towards all processes in Bulgaria. “It is extremely important for us to have all the information on t
AMENDMENTS TO THE ROAD ACT ENTERED PARLIAMENT
Freight forwarders as well as carriers that perform road transport operations at their own expense will be exempt from a licensing requirement in case that a Bill to Amend and Supplement the Carriage by Road Act passes in Parliament. The bill was approved
AIR TRAFFIC CONTROL ILLEGALLY CREDITED BALKAN
Bulgarian Air Traffic Control (ATC) has granted Balkan Airlines illegal credits by a special fund. It has also guaranteed debts to contractors for a total of USD 4,9 M, data from the auditing report of the State Internal Financial Control Agency show.
BULGARIA TO ISSUE 255 M EUROBONDS SOON
“Bulgaria will issue its first Eurobonds within days," Krassimir Katev, Bulgarian Deputy Finance Minister said. The maturity of the 255 M Finance Minister, and Krassimir Katev are to participate in Bulgarian Eurobonds roadshow before investors in Milan, L
SPECIAL SPORTS FACILITIES TO BE BUILT IN SMOLYAN
A project is being prepared for building sports facilities in Smolyan. “These facilities are to be used for adjustment before the 2004 Olympic Games in Greece,” Smolyan Mayor Dancho Kiryakov announced.
TAX THREATENS THE VOLUNTARY PENSION FUNDS
The 20% once-off tax on the accumulated sums from contributions to the voluntary pension funds will reflect negatively on the whole sector, experts from all Bulgarian pension funds believe. According to them the move planned by the Government will lead to
FIRST MICRO CREDITS TO BE EXTENDED BY CHRISTMAS
The Bulgarian Government plans to grant the first micro credits by the Christmas holidays. That was announced by the Social Minister Lidia Shuleva after the Cabinet approved the guarantee schema for micro crediting from BGN 5,000 to BGN 15,000.
EX FINANCE MINISTER CRITICIZES 2002 BUDGET BILL
Former Finance Minister Muravey Radev, who is now Deputy Leader of the Union of Democratic Forces, criticized the 2002 draft budget. The budget bill along with five bills of amendments to the tax laws - on Corporate Income Taxation, on Local Taxes and Fee
BULGARIA MAY EXTRACT GAS FROM GALATA GASFIELD
“In July 2003 Bulgaria will probably start using natural gas extracted from the Galata gasfield, “ Gatti al-Djebouri, Vice President of the State Energy and Energy Resources Agency said. Galata gasfield is located on the Black Sea shelf, 23 km away from
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