Business

Plans for Bulgaria's New Air Carrier Attacked

The largest syndicate in indebted flag carrier Balkan, Podkrepa, voiced firm opposition to the Balkan's liquidation and government's intention to set up another carrier. The new carrier is due to take on Balkan flights October 30.

Business | September 13, 2002, Friday // 00:00 | Viewed: 404

Industrial Sales in Bulgaria Perk Up 6,3% in July M/M

Industrial sales increased by 6,3% in July over the previous month, data from the National Statistical Institute show. Increase year on year reached 7,3%.

Business | September 13, 2002, Friday // 00:00 | Viewed: 320

Steve Forbes: Investors Have No Info on Bulgaria

Bulgaria's main problem is that international business has almost no information on Bulgaria, its business climate and the conditions it offers, US publishing magnate Steve Forbes said at his meeting with President Parvanov Thursday. The idea of listing B

Business | September 13, 2002, Friday // 00:00 | Viewed: 326

IMF Mission Due in Bulgaria Mid-September

A mission of the International Monetary Fund led by Jerald Schiff will arrive in Bulgaria in mid-September 2002 to examine the parameters of the government's draft budget for 2003. Tax policy changes planned by the government and the implementation of 200

Business | September 13, 2002, Friday // 00:00 | Viewed: 318

Swap of Bulgarian Brady Bonds Presented Soon

The Finance Ministry is ready to present the new Brady bonds swap to investors next week, given that Parliament ratifies the swap management contracts with the banks JP Morgan and Salomon Smith Barney over the coming days. This was announced by Finance Mi

Business | September 13, 2002, Friday // 00:00 | Viewed: 409

Top Industrialists Praise Bulgaria's Macro-Economic Performance

The European Round Table of Industrialists (ERT) is pleased with Bulgaria's economic growth, financial stability and political progress. This was announced at the opening of the fourth annual meeting of ERT with the Bulgarian Cabinet at Sheraton Sofia Hot

Business | September 12, 2002, Thursday // 00:00 | Viewed: 400

Complaints Against Bulgaria's Tobacco Monopoly Go to Law

The three complaints against the privatization of Bulgaria's tobacco monopoly Bulgartabac will be reviewed by the Supreme Administrative Court on October 3, 2002. The Privatisation Agency (PA) filed the complaints of participants in the privatisation proc

Business | September 12, 2002, Thursday // 00:00 | Viewed: 460

U.S. AES Confirms Commitment to Bulgaria's Maritsa East 1

Negotiations with potential partners on Maritsa East 1 thermal power plant project are currently underway, US power company AES announced September 12. The company pointed out that leading foreign companies in the energy sector have shown interest in the

Business | September 12, 2002, Thursday // 00:00 | Viewed: 355

Fund Appoints Banks' Receivers in Bulgaria

Insolvent banks' receivers will be appointed by the Bank Guarantee Fund and not by the court, parliament decided in passing on second reading the Bank Insolvency Act. A day earlier the MPs authorized the Bulgarian National Bank only to open bankruptcy pro

Business | September 12, 2002, Thursday // 00:00 | Viewed: 394

Privatisation Defended as Crucial for Bulgaria

Any opposition to the privatisation process means drawing Bulgaria some ten, twenty years back, Deputy Prime Minister and Economy Minister Vassilev said. The minister's comment comes one day after leftist Coalition for Bulgaria voiced firm opposition to t

Business | September 12, 2002, Thursday // 00:00 | Viewed: 364

Bulgaria's Central Bank Only to Open Bank Bankruptcy Procedures

Bulgarian National Bank only will be authorized to open bankruptcy procedures against banks, the parliament decided, passing the amendments in the Bank Failure Act on second reading on Wednesday. The Cabinet hopes the act will be completely ready before t

Business | September 12, 2002, Thursday // 00:00 | Viewed: 386

Deutsche Bank will Seek to Restore Bulgartabac's Positions

Deutsche Bank will seek to restore Bulgartabac's traditionally good positions in the region, Tessen von Heydebreck, member of Deutsche Bank Board of Directors, said after his meeting with Prime Minister Saxe-Coburg, Deputy Prime Minister and Economy Minis

Business | September 12, 2002, Thursday // 00:00 | Viewed: 453

Consumer Prices Mark Deflation of 0,7% in August m/m

The CPI recorded a deflation of 0,7 percent in August m/m, the National Statistical Institute announced. Experts attribute the deflation to the drop in food and fuel prices.

Business | September 12, 2002, Thursday // 00:00 | Viewed: 373

Complaints against Bulgaria's Tobacco Monopoly Go To Court

The Privatization Agency (PA) filed the complaints of participants in the privatisation procedure of Bulgartabac Holding in the Supreme Administrative Court on September 11. Two of the participants in the sale of 80% stake in Bulgaria's tobacco monopoly -

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 395

Three Investors Interested in Bulgaria's Flag Carrier

Three strategic investors have shown interest in buying indebted flag carrier Balkan airlines. The spokesman of the company, Viktor Melamed announced that for private national channel bTV The liquidation of Balkan airlines is the most probable alternativ

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 371

Bulgarian Honey Threatened by EU Ban

The EU is about to ban Bulgaria's export of honey as most quantities fail to meet the union's standards. This will badly affect some fifty thousands enterpreneurs who turned to that profitable occupation after Bulgaria's market liberalization.

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 366

Bill Gates invited to Bulgaria by President

President Parvanov invited Microsoft's Chairman and Chief Software Architect Bill Gates to visit Bulgaria on the occasion of the hundredth anniversary of the birth of John Atanassov, the inventor of the computer. The Bulgarian president met with Peter Hay

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 505

BNP Paribas Contract on Power Utilities Sale in Bulgaria Approved

The Supervisory Council of the Privatization Agency approved on Tuesday the advisory contract with a BNP Paribas-led consortium for the sale of Bulgaria's seven local electricity distribution companies. The seven distributors are profit making companies w

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 360

Cash for Bulgaria's Forests Granted by Japan and World Bank

An accord that will grant Bulgaria USD 564,270 of aid from the Japanese government will be signed Wednesday by Agriculture Minister Dikme and the World Bank's Country Manager to Bulgaria, Oscar de Bruyn Kops. The cash goes for backing the project "Bulgari

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 326

Cost of European Corridor VIII Set at EUR 2,2 BLN

A total of EUR 2,2 BLN is the estimated cost of pan-European Transport Corridor VIII according to calculations of the Italian side. A memorandum of understanding on the development of Corridor VIII was signed by the transport ministers of Bulgaria, Italy,

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 516

Moscow, Sofia Seek to Enhance Cooperation via Joint Projects

The implementation of joint Bulgarian-Russian projects in industry and technologies, as well as ways to enhance cooperation at regional level were discussed at a meeting between Bulgarian Deputy Prime Minister and Economy Minister Vassilev and Russian Ind

Business | September 11, 2002, Wednesday // 00:00 | Viewed: 400
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