The necessary capital for full license of the investment brokers has to increase up to BGN 1.5 million in the end of 2005, became clear after the meeting of Financial Supervision Commission. The requirement will become efficient after the adoption of the decree for the capital adequacy and liquidity of the investment brokers. There will be adopted three limits for licensing and they are in accordance with the directives of EU to some extent. In the middle of 2004 the necessary capital for full license will be BGN 500 000, said the Chairman of the Commission Mr. Apostol Apostolov.
Source: Dnevnik

Trakya Papir, Pazardjik reported a growth of 10 per cent in its sales and a growth of over 10 per cent in the manufacture and realization of production as for the first six months of the year, announced the Executive Director of the company Mr. Atanas Kaludov. Mr. Kaludov explained that the planned production capacity of 300 tons of pasteboard daily was already reached. In the beginning of the year was finalized the fifth stage of the technical renovation of the Trakya Papir.
Source: Dnevnik

Sofia City Court registered an increase of the capital of insurance company Bulgarski imoti JSC from BGN 3 million to BGN 6 million. The increase was realized through issue of new 3 million ordinary personal shares with a right of vote from A class. Each of the shares is with a face value of BGN 1.
Source: Pari

The Deputy Prime Minister and Minister of Transport and Communications Mr. Nikolay Vasilev dismissed the Executive Director of Navigation Maritime Bulgare Mr. Geno Genov. Mr. Genov was dismissed from the Board of Directors as well. The motif for the dismissing were the insufficient financial results of the company. Mr. Vasilev appointed Mr. Rosen Kostrurkov of as an Executive Director.
Source: Pari 

The Austrian company for furniture and joinery Kapo will open a factory near Plovdiv. The plot was already bought. The construction will be initiated during the next year. The Director of the company Mr. Carl Poltzhofer explained that Bulgaria was elected for location of the factory because of the lower salaries and social expenditures in the country.
Source: Standard  

Thailand businessmen want to invest in Zlatni piasatzi, became clear at the meeting of the advisor in the Embassy of Thailand Kingdom in Bucharest Mr. Bejala Tubtong with the Deputy Mayor of Varna Mr. Boris Kornovski.
Source: Standard 

USA
Gillette has filed a lawsuit to try to prevent rival Shick from launching its four-bladed razor next month, providing another twist in the increasingly intense war of the shavers. The company is accusing Schick, a division of Energizer, of patent infringement in the design of Quattro. Gillette says the product uses the same design to stack the blades in the cartridge as Gillette's Mach3 three-bladed razor. Gillette's "progressive blade geometry" positions blades to extend gradually closer to the beard. "Energizer/Schick must immediately change its technology," said company spokesman Eric Kraus. "[The company] has deliberately violated a Gillette technology patent. It's hard to imagine that progressive blade geometry was included in the Quattro product by accident." A spokeswoman for St Louis-based Energizer said on Tuesday the company's attorneys had not seen the lawsuit, so it had no immediate comment. Concern is growing that a revitalised Schick poses a grave threat to Gillette. Schick's new razor for women, Intuition, which came on market earlier this year, has been doing well. Last week, Gillette warned investors that competition from Quattro could sha ve earnings by 2-4 cents per share this year and 5-7 cents per share next year. "Gillette owes it to shareholders to protect their assets," said Bill Steele, analyst with Banc of America Securities. "It would be naive to say the company is not worried about Quattro." While lawsuits between consumer goods companies are common, they usually revolve around disputes over advertising claims. Patent suits in this sector are unusual. Gillette is seeking unspecified monetary damages as well as a court order to prevent Quattro from coming to market.
Source: FT