Business

STATE TO SUBSIDIZE QUALITY MILK IN 2002

State subsidies for high-quality milk will stay in 2002, the Bulgarian Agriculture and Forests Ministry announced. On November 7, the Bulgarian Independent Association of Dairy Producers warned that on November 20 they will organize protests against the l

Business | November 12, 2001, Monday // 00:00 | Viewed: 703

BULGARIAN EUROBOND ISSUE BOUGHT FOR TEN MINUTES

Bulgarian Finance Minister upon his return from the road show, during which he promoted the first Bulgarian Eurobonds issue announced that the eurobonds were sold for ten minutes. The issue has a 5-year term of validity and matures on March 1, 2007.

Business | November 12, 2001, Monday // 00:00 | Viewed: 632

BULGARIAN-ISRAELI COMPANY PLANS TO BUILD AIRPORT

The Bulgarian-Israeli company “Dora International” plans to invest USD 2 BLN in the building of an international cargo airport and a modern business zone near the village of Krumovo. That was announced by Naim Sason, one of the company’s owners, after his

Business | November 11, 2001, Sunday // 00:00 | Viewed: 761

PROPANE BUTANE PRICES UP BY 29,5%

“LUKoil Neftochim” announced an increase in the propane butane manufacturing price by BGN 180 per ton at midnight on November 10. Thus the wholesale price goes up to BGN 790 per ton without Value Added Tax (VAT), and BGN 948 per ton VAT included.

Business | November 11, 2001, Sunday // 00:00 | Viewed: 2397

WARRANTORS NEEDED FOR CREDITS UP TO BGN 7500

Credits of up to BGN 7500 will be granted only with two warrantors under the microcrediting project, Lidia Shuleva, Deputy Prime Minister and Social Minister announced on November 10 at a seminar in Velingrad. The project envisages microcredits in the ran

Business | November 10, 2001, Saturday // 00:00 | Viewed: 632

GLOBALSOFT.COM SOLD ITS STAKES IN TWO IT LEADERS

The Cyprus based company LK GlobalSoft.com sold its stakes in the leading Bulgarian IT companies Express Consult and Comsyst to the companies' managers.

Business | November 10, 2001, Saturday // 00:00 | Viewed: 727

BULGARIAN EUROBONDS TO BE WITH FIVE-YEAR MATURITY

The last offers for Bulgarian Eurobonds were received in the afternoon on November 9, Finance minister Milen Velchev said on November 10 on the Bulgarian National Radio. He declined to announce the volume of the issue.

Business | November 10, 2001, Saturday // 00:00 | Viewed: 678

TOURISM SLOWDOWN EXPECTED IN BULGARIA

There is a huge possibility that the majority of the foreign tourists who have booked ski-holidays at the resorts of Pamporovo and Borovets will cancel the reservations, hotel-keepers predicted. After the attacks of September 11, many people are afraid to

Business | November 10, 2001, Saturday // 00:00 | Viewed: 703

BALKAN AIRLINES RECEIVERS PREPARE RECOVERY PLAN

A recovery plan for Balkan Airline is to prepared, that will be implemented a month after the promulgation of the company creditors’ list in the State Gazette, Olga Milenkova and Hristo Mollov, Balkan Airlines’ new receivers, said at a press conference on

Business | November 10, 2001, Saturday // 00:00 | Viewed: 769

BULGARIA TO TAKE PART IN WORLD TRAVEL MARKET

A Bulgarian delegation will participate in the World Travel Market (WTM), that is to be held in Earls Court, London from November 12 to November 15. The country’s national stand at the WTM covers 80 sq m.

Business | November 10, 2001, Saturday // 00:00 | Viewed: 788

INDUSTRIAL ENTERPRISES SALES UP FOR FIRST 3QS

Industrial enterprises sales have increased by 2,7% for the first nine months of 2001 compared to the same period last year, data of the National Statistical Institute show. Sales in the manufacturing industry are up by 2.

Business | November 10, 2001, Saturday // 00:00 | Viewed: 640

INT'N'L AUDITING STANDARDS TO BE INTRODUCED 2003

The Act on Independent Financial Audit was adopted at second reading by Parliament. The International Standards on Auditing will be introduced in Bulgaria on July 1, 2003.

Business | November 9, 2001, Friday // 00:00 | Viewed: 754

BULGARIA TO SUPPLY ELECTRICITY TO MONTENEGRO

Bulgaria’s National Electricity Transmission Company (NETC) will supply 2,5 M kWh per day to Montenegro, which suffers from a power crisis, Slobodan Dakovic, General Director of Montenegro’s Electricity Company, said at a news conference. He pointed out

Business | November 9, 2001, Friday // 00:00 | Viewed: 665

GAS DISTRIBUTORS AGAINST EXCISE DUTY INTRODUCTION

Bulgarian gas distributors blocked Sofia-Kulata motorway for an hour on November 8 in protest against the introduction of excise duties on propane butane. The excise duties introduction is part of the process of aligning Bulgarian legislation with that of

Business | November 9, 2001, Friday // 00:00 | Viewed: 586

TURKEY MAY NEGOTIATE CEYLAN’S WITHDRAWAL

Negotiations between Turkey and Ceylan Holding should be held on Ceylan’s withdrawal from the construction works of Bulgaria’s Gorna Arda hydropower project and from the joint venture with Bulgaria’s National Electricity Transmission Company (NETC). The d

Business | November 9, 2001, Friday // 00:00 | Viewed: 681

GERMAN EXPERTS TO COOPERATE WITH ECONOMY MINISTRY

25 German experts will assist the Bulgarian Economy Ministry to improve the investment climate, encourage business and align the Economy Ministry's administration standards with the European ones. “PHARE Program finances the two-year project for partnersh

Business | November 9, 2001, Friday // 00:00 | Viewed: 649

STANDARD & POOR'S UPGRADED SOFIA'S CREDIT RATING

The Standard & Poor’s rating agency upgraded Sofia’s foreign currency long-term rating of unsecured debt from (B+) to (BB-). Sofia’s local currency long-term rating of unsecured debt was raised from (BB-) to (BB).

Business | November 9, 2001, Friday // 00:00 | Viewed: 678

ROAD SHOW OF EUROBONDS ISSUE SUCCESSFUL

The presentation of the first Bulgarian Eurobond issue in Athens, Milan and Frankfurt was received with great interest by senior financial circles in Greece, the Finance Ministry announced. The increased interest showed and the heightened attention paid t

Business | November 9, 2001, Friday // 00:00 | Viewed: 632

PARLIAMENT RATIFIES EUROBOND ISSUE AGREEMENTS

The Bulgarian Parliament ratified on November 8 a Fiscal and Payment Agency Agreement between Bulgaria and Chase Manhattan Bank of London and Chase Manhattan Bank Luxembourg S.A.

Business | November 8, 2001, Thursday // 00:00 | Viewed: 652

CONTRACT WITH DEUTSCHE BANK ON TELECOM SIGNED

The Privatization Agency (PA)signed a consultancy contract for the Bulgarian Telecommunications Company privatization with Deutsche bank. The contract was signed on November 8.

Business | November 8, 2001, Thursday // 00:00 | Viewed: 545

DEM 2 BLN TO BE EXCHANGED FOR EUROS IN BULGARIA

German currency in circulation in Bugaria amount to DEM 2 BLN, Ulrich Wegener, Governing Board Advisor in Deutsche Bundesbank, announced at a press conference, citing estimates of the bank. Four Bulgarian banks - United Bulgarian Bank, Bulbank, Commercial

Business | November 8, 2001, Thursday // 00:00 | Viewed: 578
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria