Bulgarian
Industrial
Association |
BUSINESS INDUSTRY CAPITAL
Tuesday, 17 October 2000,
Issue
275
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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 |
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BULGARIA
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Economic indicators
BNB Exchange Rates
(17.10.2000)
Main Interest Rate
(as of 11.10.2000)
4.01% |
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FINANCIAL
NEWS |
The Investment fund for South-eastern Europe
has a capital of USD 150 million, USD 100 million are granted by the American
agency OPIC and the rest USD 50 million are granted by George Soros, was
stated by Philip Rombaut. The fund searches to invest in share participation
in companies from the region and the maximum amount of the investment is
USD 45 million for each country. The participation of the fund will be
in the limits between USD 5 and 20 million, stated Mr. Rombaut. He added
that the fund may take part in the privatization of companies and realize
green field investments.
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 |
Two offers submitted in the Ministry of Transport
and Communications for privatization of 60 per cent from the capital of
the state-owned shipping company Despred
JSC. The candidate-buyers have to deposit BGN 400 000 and to present
a programme for development of the company for a period of 3 years. Totally
10 companies bought information memoranda for participation in the sale
of Despred
JSC. Among them are Bulgarian
holding company JSC - Sofia, SO
MAT JSC - Sofia, Transstroy M SP Ltd - Bourgas, Zlaten
lev holding - Sofia, Pandora
Ltd - Sofia, Orbit Ltd - Sofia and others. This is the second procedure
for privatization of Despred
JSC. The major share of the company costs BGN 8 million. The company
is included in the list of the cash privatization and the sale will be
realized through negotiations with potential buyers.
Source: BTA |
Bulgarian Stock Exchange - Sofia - 16.10.2000
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COMPANIES |
Plovdiv Regional prosecutor's office initiated a case against
the owner of Kanotrans
Mr. Tonio Ikonomov. The case is for false witness. The prosecutor's office
will require penalty responsibility from Mr. Ikonomov because of untrue
information connected with another case from 1998. Then the owner of Kanotrans
SP Ltd and buyer of the cosmetic company Alen
mak JSC was accused of taking funds out of the plant in amount of USD
1.780 through a leasing contract with the company Capland enterprises LS.
Against the selected by PA owner of Alen
mak JSC, have already initiated another 3 cases.
Source: Standard
By the end of the year the Austrian company OMV will open 25 gas stations
in Bulgaria, in which it invested over USD 30 million. In them will be
engaged about 700 workers and clerks. Just for one year the company opened
in Bulgaria 14 gas stations, 4 of which in Sofia. The Municipal Management
in Vratza and representatives of the company signed a contract for construction
of gas station in the town, in which will be invested USD 1.3 million.
OMV
Bulgaria SP Ltd has already paid for the ground USD 200 000 to private
owners. It is expected the trade complex with the gas station to be finished
by May 2001.
Source: BTA |
BEIS
Rating
Industry
region: Pernik
Top 10 companies by
Net Sales for 1999.
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BULGARIAN
INDUSTRIAL ASSOCIATION NEWS
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From October
16 to 20. 2000 in Apriltzi will hold the third
from the consecution the Management of the quality and requirements of
the standards Bulgarian State Standard EN ISO 9000 courses that is organized
by Bulgarian Industrial Association
and the Swiss organization for supporting the import /SIPPO/. Co-organizator
of the initiative is Industrial Association - Pleven that is a collective
member of BIA. The training in accordance
with the quality system is a part of the programme of BIA
- Clear industry Centre for supporting the Bulgarian business in improvement
of the company management and for development the cooperation between the
representatives of the business spheres from Bulgaria and Switzerland. |
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WORLD
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Index for Stock Exchange
prices as of 17.October,
2000
| Dоw Jones Industrial |
| 10238.80 |
(+46.62) |
| Nasdaq Composite |
| 3290.28 |
(-26.49) |
Stock Exchanges
| Commodity* |
Price |
| LIGHT CRUDE($US/bbl.) |
32.30 |
| BRENT CRUDE ($US/bbl.) |
30.88 |
| HEATING OIL ($US/gal.) |
0.997 |
| NATURAL GAS |
5.48 |
| UNLEADED GAS |
0.928 |
| GOLD ($US/Troy Oz.) |
274.00 |
| SILVER (cents/Troy Oz.) |
492.50 |
| PLATINUM ($US/Troy Oz.) |
567.10 |
| HOGS (cents/lb.) |
52.60 |
| PORK BELLIES (cents/lb.) |
61.47 |
| LIVE CATTLE |
70.35 |
| FEEDER CATTLE |
87.90 |
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*prices as of 16.October, 2000 |
Europe
Mazda, the Japanese carmaker 34 per cent owned by Ford of the US,
plans to shift production from Japan into Europe because of the continued
weakness of the euro. The company, which has almost no production outside
Japan, estimates adverse currency movements have cost it around $1bn over
the past two years. The Hiroshima-based group had said it would decide
whether to expand manufacturing in Europe before the end of this year.
It is understood that from 2003 Mazda will make its 323 and 626 small and
medium sized cars at Ford's plants in Germany or Belgium. Ford, meanwhile,
is considering manufacturing its Focus small car at Mazda's plant in Hiroshima.
This would compensate for the loss of production in Japan and quell possible
labour disputes stemming from job cuts. Analysts estimate 5-10 per cent
of Mazda's total production capacity in Hiroshima of 1.1m vehicles will
be transferred overseas and that up to 50,000 Fords could be made in Japan
for sale domestically and in the rest of Asia.
Source: FT
USA
Looking to strengthen its position in the fast-growing market for
communications chips, Marvell Technology Group Ltd. is expected Tuesday
to acquire Israel's Galileo Technology for $2.7B in stock.The boards of
both companies have approved the deal, which is expected to be made public
Tuesday morning. Marvell, a Sunnyvale, Calif.-based maker of chips for
broadband communications and data storage, will swap 0.674 share for each
share of Israel's Galileo, which makes chips for data networking applications.
The deal values Galileo at $55.10, a 79 percent premium over its closing
price Monday of $30.77. Shares of Marvell closed Monday's trading down
$9 at $81.75.
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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