Business Industry Capital
Bulgarian
Industrial
Association |
BUSINESS INDUSTRY CAPITAL
Friday, 15 September 2000,
Issue
254
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Daily on-line issue for financial,
industrial and corporate news
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Bulgaria
Financial news*
Privatization*
Companies
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Bulgarian
Industrial Association
news
Business
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World
USA* Europe |
One year has passed since the first
issue of Business Industry Capital - the daily on-line bulletin for financial,
industrial and corporate news. Currently, the issue is distributed free
in English and in Bulgarian and has more than 4 000 subscribers in Bulgaria
and abroad. One year is not so long period of time, but Business Industry
Capital has succeed to find its place in the information stream of Bulgarian
business life. |
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BULGARIA
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Economic indicators
BNB Exchange Rates
(15.09.2000)
Main Interest Rate
(as of 13.09.2000)
3.81% |
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FINANCIAL
NEWS |
The inflation for this year will be between
7 and 8 per cent and the discussed during the summer parametres with the
Mission of the International Monetary Fund will be efficient. With this
news ended the meeting of the Minister of Finance Mr. Muravey Radev with
the group of Mr. Uha Kakonen. Mr. Radev specified that further corrections
in the prognoses for the inflation depends on the movement of the price
of the petrol and the USD exchange rate. Mr. Kakonen stated that the auction
for Biochim
has to be declared by the end of this month, according to the three-year
agreement. He added that it is expected to the end of the first quarter
of the next year to be signed the contract for the sale of the bank. According
to the Director of the mission the postponement of the deals for BTC
and Biochim
do not affect on the budget because the financing of the current account
for this year is defined.
Source: Pari |
Terms for
privatization offers
For
any additional information about the needed documents, business programmes,
securing of funds, investment consulting
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PRIVATIZATION |
The Plovdiv Regional Prosecutor's Office has
entrusted the Economy Police in town to execute the inspection of the deal
for the sale of 47 per cent from the cosmetics giant Alen
Mak. The chosen byuer is the Varna company Kanotrans
SP Ltd, owned by the credit millionaire Mr. Toniu Ikonomov. The magistrates
are expected to come up with a position on the case, was announced by the
Director the the regional Prosecutor's Office Mr. Dimitar Angelov. Meanwhile,
Mr. Ikonomov appealed against the decision of the Plovdiv District Court
for the stopping of the deal. The inspectors from the State Financial Control,
on the other hand, renewed the inspection of Alen
Mak in the beginning of the week, which was stopped because of the
summer holidays in August. The inspection started by the order of the Deputy
Prime Minister Mr. Petar Zhotev and by the request of the directors of
Alen
Mak JSC and Kanotrans
JSC.
Source: Standard |
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COMPANIES |
Representatives of the Austrian company Central Vexel Bank,
insurers and the judge-executor Mr. Ivailo Tsenkulov entered the Pleven-based
refinery Nova
Plama JSC, escorted by the police. Mr. Tsenkulov asked the police for
support, since the directors of Nova Plama JSC have refused to let the
insurers in the refinery. The insurers must inspect, insure and protect
the property, owned by Rexoil, given by the Court to the creditor Central
Vexel Bank because of unpaid debt by Nova
Plama JSC amounting to USD 8 million.
Source: Standard
Albena
Invest Holding has invested BGN 1.8 million in the enterprises
from its portfolio, was announced by the Executive Director Mrs. Lidia
Shuleva. Their financial state has improved compared to last year, as a
result of which the holding has realized 19 per cent growth of the profit
for the first seven months of the year 2000, compared to the same period
last month. The transporting company Albena
Autotrans has realized a turnover of BGN 2.5 million and 57 per cent
growth of the incomes compared to the same period last year. During
the past few years the company invested BGN 1.5 million in the renewal
of the company’s bus park. The growth of the incomes of the furniture company
Briast
is 50 per cent. In July 1999 it reported a loss of BGN 14 000. This year,
Albena
Invest Holding will invest BGN 300 000 private funds in new machines
and equipment. The company’s program provides for a similar investment
in Dobrudzhanski
Textil, which realized a 20 per cent growth of the incomes for the
period January-July 2000. Last summer the company reported a loss of BGN
40 000. The company Ecoplast with a head office in Albena doubled its profit.
It has only one year of business history.
Source: Pari |
Bulgarian Stock Exchange - Sofia - 14.09.2000
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BEIS
Rating
Industry
region: Dobrich
Top 10 companies by Capital.
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BULGARIAN
INDUSTRIAL ASSOCIATION NEWS
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Bulgarian
Industrial Association (BIA), the Ministry of Economy, Transport, Rheinland-Pfalz
and the Representation of this countryside in Bulgaria organize on October
13.2000 from 14.00 to 17.30 o’clock in Europe hall in hotel Princess
- Sofia cooperation exchange between Bulgarian and German companies.
***
At the 76th international fair in Zagreb,
Croatia
(September 11 - 17. 2000) BIA
in cooperation with the company Fairnet organize the participation of 6
Bulgarian companies - VSK
Kentavar, Sofia, KONIS,
Kujstendil, PRECISE
INTER, Ivaniane, HYDROPNEVMOTECHNIKA,
Kazanluk, ATRA-96, Plovdiv and Zhiti,
Rousse. The participation is organized in accordance with a project
financed by the German comapany for technical cooperation (GTZ).
***
A meeting of the European members of
the International Organisation of Employers (IOE) will take place in Tallinn,
Estonia, in the period 13-16 September. The meeting includes an ILO workshop
for IOE members on employers and the social dialogue. A representative
on behalf of BIA will be Mr. Branimir
Handjiev who will introduce the proposals of the Association within the
Stability Pact on the Balkans.
***
The US Trade and Development Agency
/USTDA/ organizes in Philadelphia a conference in the period September
13 - 15. 2000 on the topic Energetic and transport projects in South-Eastern
Europe. In the conference will take part representatives of international
financial institutions ( European Bank for Reconstruction and Development,
World bank, European Investment Bank and others ), included in the Stability
Pact, of OPIC, Managers of more than 150 American companies, specialized
in the field of the transport and the energetic construction and services
and also 25 American supreme state officials.
On September 15 will take place
an Investment forum at which will be discussed the financial instruments
and the investment opportunities and climate in South-Eastern Europe.
In the frames of the programme
of the forum, the Chief Executive of the Investments and privatization
of BIA, Mr. Kamen Kolev, will reveal to the participants the offered by
BIA
projects for realization in accordance with the Stability Pact and the
investment climate in Bulgaria for attracting foreign investors in the
State.
***
From September
16 to 18. 2000 the Prime Minister of Vietnam
Mr. Fan Van Khai will officially visit Bulgaria accompanied with 36 businessmen.
On September 18 in Parkhotel Moskva there will be bilateral meetings
between the representatives of Bulgaria and Vietnam. There will be representatives
from companies of the following branches: oil industry, agriculture, food-processing,
tourism, bank services and investments.
***
Yesterday (14.09.2000)
in
Bulgarian
Industrial Association (BIA)
took place a meeting of the Chairman of BIA
Mr. Bojidar Danev, experts from the Association and representatives of
Branch organizations - members of BIA with the delegation of the English
section of the European union of the women in the business. |
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WORLD
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Index for Stock Exchange
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Dоw Jones Industrial
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11087.47
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(-94.71)
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Nasdaq Composite
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3913.86
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(+19.97)
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Stock Exchanges
| Commodity* |
Price |
| LIGHT CRUDE ($US/bbl.) |
33.20 |
| BRENT CRUDE ($US/bbl.) |
32.29 |
| HEATING OIL ($US/gal.) |
1.00 |
| NATURAL GAS ($US/mmbtu) |
5.19 |
| UNLEADED GAS ($US/gal.) |
0.940 |
| GOLD ($US/Troy Oz.) |
276.00 |
| SILVER (cents/Troy Oz.) |
495.00 |
| PLATINUM ($US/Troy Oz.) |
586.00 |
| HOGS (cents/lb.) |
54.37 |
| PORK BELLIES (cents/lb.) |
63.95 |
| LIVE CATTLE |
67.65 |
| FEEDER CATTLE |
85.45 |
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*prices as of 14 September,
2000 |
Europe
RTL Group, the pan-European broadcaster, on Wednesday proposed to
strengthen its position insouthern Europe with the acquisition of an additional
6.23 per cent stake in Antena 3, the Spanish television channel, for E155.7m.
As it reported maiden interim results showing a 46 per cent rise in underlying
profits, RTL said the purchase of the stake from the Bank of New York would
lift its interest in Antena 3 to 16.23 per cent. RTL executives said
the deal was evidence that the newly-formed company - created by the merger
of the TV assets of Bertelsmann, Audiofina and Pearson, the owner of the
Financial Times - was not constrained by its complicated and geographically
disparate shareholder base. Didier Bellens, who runs the company from its
headquarters in Luxembourg, said RTL's management was "one team, one voice".
RTL, which in July listed in London to pursue an aggressive European expansion
strategy, said it would increase its free float of 10.3 per cent to 15
per cent within 12 months to qualify for entry to the FTSE 100 in the event
of the "right deal". RTL has expressed interest in buying United News &
Media's 35 per cent stake in Channel 5, the fifth terrestrial broadcaster
valued at close to Ј1bn, but appeared in no hurry.
Source: FT
USA
Ford Motor Co. said Friday it has dropped its bid for South Korea's
troubled Daewoo Motor Co.In a brief statement, the No. 2 automaker
said it would not make a final bid for the company. A deal had been expected
to be completed by the end of this month. "We believe that a proposal was
not possible that would be in the interest of Daewoo and Ford and their
respective shareholders," said Ford Vice Chairman Wayne Booker. Ford, struggling
with the fallout of the Firestone tire recall, earlier this year beat out
a joint bid by rival General Motors (GM: Research, Estimates), the world's
biggest auto maker, and Italy's Fiat SpA, and another by DaimlerChrysler
and Hyundai Motor for the right to conduct exclusive negotiations with
debt-laden Daewoo about taking over its assets. Hyundai is Korea's biggest
automaker, followed by Daewoo. Ford recently conducted due diligence on
unlisted Daewoo.
Source: CNNfn |
*This issue is not responsible
for the reliability of the published information. Such is to be attributed
to the mentioned sources.
For advertisements and more
information please contact:
Bulgaria, Sofia, 16-20 Alabin
Str., tel. (+359 2) 9801091, fax (+359 2) 9814567, mail: bic_office@bia-bg.com
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