Razlog-based Pirinhart plans to launch for sale a new issue of shares. The decision for launching the shares will be adopted at the General Meeting of the company, which will be conducted on September 9. The shareholders will vote for the decision the capital of the company to be raised from BGN 659 335 to BGN 1 459 335. According to the proposal of the Managing Board the money will be used for reconstruction and modernization of the equipment.
Source: Dnevnik

The Sliven-based Packing-house - Bourgas AD will transfer assets evaluated at BGN176,000 to the Milling Complex of Sliven. Thus, the former Bourgas enterprise will support the increase of the Sliven-based mill's capital to BGN3.5MN. Packing-house - Bourgas is a public company and for that reason it cannot directly merge into the mill, whose paper is not traded on the stock exchange. Both companies are within the structure of the former privatisation fund Mel Invest Holding.
Source: Banker 

On August 6 the Board of Directors of BSE suspended temporarily from stock exchange trade BNP Pariba Bulgaria. The reason is that at the moment the bank does not have a broker who has to represent it at the stock exchange sessions. The measure will be canceled when this problem is solved.
Source: Banker

ProCreditBank is establishing a subsidiary leasing company. It will start working by the end of September and its Director will be Mr. Nikolai Todorov. At the moment he manages Business and development department in the bank.
Source: Banker 

UBB, Post bank and First Investment Bank (FIB) will sign the contract for credit of EUR 12 million that will be granted to the wine company Domain Boyar. The sign of the contract has to be executed by August 13. In the consortium UBB will take part with EUR 5 million, Post bank – with EUR 4 million and FIB – with EUR 3 million. The syndicated credit will be guaranteed with extraordinary pledges on companies from Domain Boyar group. The loan has to be paid by 2010 and during the first two years the wine company will pay only the interests.
Source: Banker

USA
Air Canada on Thursday reported improving traffic trends following the Sars crisis, but warned it did not expect any "meaningful recovery" before the third quarter of next year. Canada's biggest airline, which has been operating under bankruptcy protection since April 1, reported a second-quarter net loss of CAD566m (USD406m), against earnings of CAD30m in the same period last year. Operating revenues fell 24 per cent to CAD1.95bn. The impact of Sars, along with the war in Iraq, was felt in all the airline's markets. Consolidated passenger revenues fell 26 per cent to CAD1.6bn. Pacific routes were the worst hit, suffering a 62 per cent decline in traffic. Increased traffic along with cost cutting reduced daily operating losses to CAD400,000 in June from more than CAD5m in April, the company said. Air Canada was hit harder than any other airline outside Asia by the Sars outbreak. The resurgence of the disease in its main hub of Toronto in late May was "devastating, with travellers avoiding Toronto as both a destination and connecting point", Mr Milton said.
Source: FT