Business

CABINET MULLS RECOVERY PLAN FOR FLAG CARRIER

The government mulls a Swissair type recovery plan for Bulgaria’s flag carrier Balkan Airlines, Dnevnik daily reported, quoting a source from the government. The idea includes setting up of a new air carrier, which will replace the insolvent Balkan Airlin

Business | July 26, 2002, Friday // 00:00 | Viewed: 468

OVER 1 M TONS OF OIL STOCKS TO BE STORED TILL 2012 UNDER BILL

Bulgaria must have stored up a total of 1,1 million tonnes of oil and oil products stock till 2012, under a bill on the obligatory amounts of oil and oil products stocks, adopted by Cabinet July 25. Following the bill Bulgaria’s stock of oil and oil produ

Business | July 25, 2002, Thursday // 00:00 | Viewed: 358

REGULATION ON ELECTRICITY PRICES AMENDED IN LINE WITH COURT’S RULING

The Cabinet adopted amendments and supplements to the regulation on calculating prices and tariffs of electricity, heating and natural gas in accordance with last week’s ruling of the Supreme Administrative Court. Through its decision the Cabinet explains

Business | July 25, 2002, Thursday // 00:00 | Viewed: 377

EBRD APPROVES LOAN FOR MARITSA EAST 3 THERMAL POWER PLANT

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved a loan of EUR 112,1 M for the rehabilitation of Maritsa East 3 thermal power plant July 23. The total cost of US Entergy project is USD 470 M.

Business | July 25, 2002, Thursday // 00:00 | Viewed: 401

AGRICULTURE MINISTER ASSESSES BULGARTABAC BIDS IN DAYS

Agriculture Minister Dikme will present his assessment of the offers for Bulgartabac within ten days, it transpired before the regular meeting of the Cabinet. Minister Dikme declined to comment the offers before reading them through, but he is positive ab

Business | July 25, 2002, Thursday // 00:00 | Viewed: 344

CONSTRUCTION OF RUSSE WINTER MOORING DOCK BEGINS

Transport Minister Plamen Petrov and Belgium`s ambassador Edmond de Wilde open officially today the construction of a shelter for winter anchorage of vessels at Russe, on the Danube. The construction of the shelter will not be completed before 2005 but th

Business | July 25, 2002, Thursday // 00:00 | Viewed: 419

LAND MARKET IN BULGARIA STILL UNDERPRICED

A market study by the agricultural information system SAPI covering the period of 1998-2001 shows that a total of 89,805 ha of land changed hands in 51,084 separate transactions. Most of the owners offer for sale fragmented plots, which are not suitable f

Business | July 25, 2002, Thursday // 00:00 | Viewed: 963

NO DONORS FOR STRUMA HIGHWAY DUE TO LOW TRAFFIC ESTIMATES

The project for construction of Struma highway failed to attract donors due to the low traffic estimates, head of the Road Executive Agency Pavel Dikovski said, quoted by Dnevnik Daily. Struma highway (Sofia-Kulata) is part of the transport corridor 4 and

Business | July 25, 2002, Thursday // 00:00 | Viewed: 523

INVESTORS MIGHT RUN BURGAS PORT UNDER A CONCESSION CONTRACT

Investors are willing to run the loss-making Burgas port under a concession contract, Transport Minister Plamen Petrov said. The cargo traffic handled by the port is small.

Business | July 25, 2002, Thursday // 00:00 | Viewed: 426

FINANCE MINISTER OPTIMIST ABOUT AMOUNT OF FOREIGN INVESTMENTS THIS YEAR

The foreign investments planned for this year of some one billion dollars can be realized by the end of December, Finance Minister Milen Velchev said in an interview for the Bulgarian News Agency. He recalled that only investments from the privatization o

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 416

CLOSING LOSS-INCURRING RAILWAY DESTINATIONS SUGGESTED

The Transport Ministry will move a proposal for closing the most loss-incurring destinations for passenger transport of the State Railways Company, Transport Minister Plamen Petrov announced. The decision for closing these activities is needed for fixing

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 401

BRITISH BUSINESSMEN WILL STUDY OPPORTUNITIES FOR INVESTMENTS

British businessmen will visit Bulgaria in October to study the opportunities for investing in Bulgaria, Great Britain’s Ambassador to Bulgaria H.E.

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 396

INVESTOR IN FLAG CARRIER TO BE KNOWN BY OCTOBER

Transport Minister Plamen Petrov said he expected a qualified company to be attracted as investor in flag carrier Balkan Airlines by October this year. He explained that for one year his ministry has managed to deal with the different interests involved i

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 363

CHIMCO FERTILIZER PLANT WILL EXPORT CARBAMIDE TO ITALY

Chimko fertilizer plant will produce 6,000 tonnes of carbamide for Italy. The plant has been contracted by the Italian company Indagro.

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 451

DANKNER GROUP PLANS TO BUILD STUDENT DORMITORIES

CEOs of the Israeli investment holding Dankner Group met with Regional Development Minister Georgi Georgiev to discuss their plans to build student dormitories in Sofia, Varna, Blagoevgrad and Plovdiv as well as in other university towns. The company is r

Business | July 24, 2002, Wednesday // 00:00 | Viewed: 470

DEPUTY PM ASSURES RUSSIA WON’T CLOSE MARKET FOR BULGARIAN CIGARETTES

“It is not serious to talk about closure of the Russian market for Bulgarian-made cigarettes, “ Deputy Prime Minister and Economy Minister said during a visit to Vidin. He was asked to comment publications in the Russian press that Russia will close its m

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 367

METATABAK MAY EXIT BULGARTABAC SALE PROCEDURE

Representatives of consortium Metatabak, placed second among the four bidders for Bulgartabac, said they may appeal the procedure for the sale of the tobacco giant Bulgartabac Holding. In their words more than 20 violations of the procedure have been foun

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 653

UDF CLAIMS BULGARTABAC PRICE IS ABOUT USD 370 M

According to the Union of Democratic Forces the price of Bulgartabac Holding is USD 370 M, which is also the assessment of the holding’s international audit in 2000, it transpired after a meeting of UDF National Executive Council. Ergin Emin, member of th

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 728

TOBACCO HOLDING WANTS PROCEDURE FOR UPPED PRICE FOR BULGARTABAC

A day after the final bids for 80 percent stake in Bulgaria's tobacco giant Bulgartabac were unsealed, Tobacco Holding, placed third among the four bidders, asked the Privatisation Agency for a procedure for increasing the offered price. The Executive Dir

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 603

PHARE ACCESS 2000 RELEASES EUR 1,8 M FOR BULGARIAN PROJECTS

A total of EUR 1, 8 M will be released for Bulgarian projects under PHARE programme ACCESS 2000 in the period July 2002 – November 2003. The program aims to strengthen the Civil Society and prepare for accession the candidate countries in Central and East

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 585

SALE OF 70% STAKE IN VIDACHIM TAKES PLACE TODAY

A 70% stake in Vidin-based chemical plant Vidachim will be transferred to Russe-based company Pristisgroup-Vodno Stopanstvo AD today, after the Supersory Board of the Privatization Agency approved the deal July 18. The company paid one lev for the bankrup

Business | July 23, 2002, Tuesday // 00:00 | Viewed: 598
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