Business Industry Capital
Bulgarian
Industrial
Association |
BUSINESS INDUSTRY CAPITAL
Monday, 18 August 2003, Issue
991
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Daily on-line issue for financal, industrial
and corporate news
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ISSN 1311-364X |
Bourse
Information Company Capital Market Ltd. |
Bulgaria
Financial news*
Privatization*
Companies
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Bulgarian
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World
USA* Europe |
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BULGARIA
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Economic indicators
BNB Exchange Rates
(18.08.2003)
Main Interest Rate
(as of 25.06.2003)
2.52% |
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FINANCIAL
NEWS |
During June 2003 the citizens of Bulgaria ate
700 g. of bread less and 100 g. meat more as compared to the same period
of 2002, show the data from the National Statistics Institute. There were
no changes in the consumption of meat products - 900 g., cheese-900 g.,
eggs - 12 pieces and sugar - 700 g. There was growth in the consumption
of fruit and milk.
Source: BTA |
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PRIVATIZATION |
The privatization of the minority stake from
the capital of State
Insurance Institute DZI is practically finalized as on Friday on the
market interfered a client of the investment intermediary Eurofinance
JSC, who bough-out 4.77 per cent of the capital of the company at the
price of BGN 55 per share. The financial house gained totally 5 per cent
of the capital of the insurance company. Eurofinance
JSC raised the average price of the session to BGN 54.99 per share,
which could be paid in restitution instruments.
Source: Dnevnik |
Training on the topic:
Optimization of the company
management of labour-production process in the market-orientated economy.
September 29, 2003 - Pleven
More info: www.news.bia-bg.com/refa/
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Bulgarian Stock Exchange - Sofia - 15.08.2003
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COMPANIES |
Balkan
News Corporation, which owns the license for the first private television
station in Bulgaria, has doubled its profit during 2002, show the data
from the financial report of the company. The net profit of the corporation
as of 2002 was BGN 10 190 000 as compared to BGN 4 574 000 during 2001.
The net sale incomes of the company were in amount BGN54 million. The incomes
from advertisement were in amount of BGN 53 577 000.
Source: Capital
One of the leading companies for production of tires in the world Pirelli
will purchase the Romanian factory for wires and cables Kord. The factory
is property of the Bulgarian company EP
Commerce. The interests of Italian company is provokes by the wires
for strengthening of tires, which are produced by the Romanian factory
Source: Dnevnik
Luckoil may become the main shareholder of the basketball team Academic.
The petrol company wants to buy the whole package of shares of the club,
which until now was split between Mr. Valentin Zlatev and Mr. Vladimir
Boyanov. Luckoil’s manager insists on buying Boyanov’s share and states
this as the only condition for the company to continue supporting the team.
Source: Standart
Bourgas-based company Vinkom
received permission from Bank Supervision at the Bulgarian National Bank
to own 19.7 per cent of the capital of Investbank.
Source: Capital
Technopolis
starts building a new hyper-market in Bourgas, was announced by Zlatina
Shivarova – a company representative. BGN five million will be invested
in the undertaking split evenly between construction work and technological
equipment and merchandise. It will be built in the “Slaveykov” residential
area by “Siconco
Building”. The term for completing construction work is 100 days. The
market shall offer 25 thousand of its traditional goods, as well as services
that are not offered in the other stores in the country – a Hi-Fi, video
cameras and home cinema show-rooms. Additional services will include free
transport on the territory of Bourgas, leasing, a service center for quarantee
and post-guarantee period, opportunity for using debit cards. 50 new working
places will be open.
Source: Dnevnik
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BEIS
Rating
Mining of metal ores
Top 10 companies by
Fixed Assets for 2001
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BULGARIAN
INDUSTRIAL ASSOCIATION NEWS
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***
THE SECOND PARTENARIAT EVENT AIMING AT PROMOTING
BUSINESS CO-OPERATION BETWEEN COMPANIES FROM THE E.U., BALKAN & BLACK
SEA COUNTRIES VENUE: HELEXPO - THESSALONIKI, GREECE on
17-18 November 2003. BULGARIAN
INDUSTRIAL ASSOCIATION IS THE NATIONAL COUNSELLOR FOR BULGARIA.
***
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WORLD
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Index for Stock Exchange
prices as of August 15, 2003
Dow Jones Industrial |
9321.69
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(+49.93)
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Nasdaq Composite |
1702.01
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(+1.67)
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Commodity Exchanges
prices as of August 15, 2003
Commodity |
Price |
LIGHT CRUDE ($US/bbl.) |
30.99
|
BRENT CRUDE ($US/bbl.) |
28.81
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HEATING OIL ($US/gal.) |
0.8051
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NATURAL GAS ($US/mmbtu) |
4.848
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UNLEADED GAS ($US/gal.) |
0.9994
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GOLD ($US/Troy Oz.) |
364.70
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SILVER (cents/Troy Oz.) |
4.927
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PLATINUM ($US/Troy Oz.) |
696.50
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HOGS (cents/lb.) |
51.90
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PORK BELLIES (cents/lb.) |
81.70
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LIVE CATTLE (cents/lb.) |
78.05
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Europe
ING, the Dutch financial services group, on Thursday reported
a 15 per cent rise in second-quarter profits, but declined to give a full-year
forecast. Group operating net profit was EUR 1.17bn (USD 1.3bn) compared
with EUR 1.01bn in the same period a year ago. Operating net profit in
banking rose 15 per cent to EUR 405m, while in insurance the figure was
also up 15 per cent at EUR 761m. The result was above analysts' expectations,
largely thanks to a EUR 247m gain in its insurance arm that the group said
reflected the release of provisions related to old reinsurance activities.
Ewald Kist, the chairman, said uncertainty over the impact of interest
rate and share price movements on its insurance operations remained a concern.
"I feel wary of people that predict things too soon," Mr Kist said. "I
see light at the end of the tunnel, but I am not yet ready to make an announcement
in that respect." He also said job cuts in Europe would continue as part
of a gradual process to reduce costs and improve efficiency, although not
on the scale of the 2,100 lay-offs seen in the first half-year. A stock
market rebound lifted insurance results, particularly US life activities,
where lower investment losses - related to corporate bankruptcies - and
cost control also helped. Banking results continued an upward trend from
the first quarter, he said, with expenses trimmed and a lower loan loss
provisions.
Source: FT
USA
The heart of North America's automotive industry was shut down
Thursday evening by cascading power outages that struck the northeastern
United States and southern Canada. Officials in southeastern Michigan said
late Thursday evening that power was returning to some areas, but it could
take much of the weekend before all power was restored. "We have
plants in all the impacted areas and we're still assessing the impact,"
General Motors Corp. spokesman Pat Morrissey told Reuters. Ford Motor
Co. spokesman Ed Lewis said 23 of Ford's 44 plants in North America were
down. Those plants include assembly, stamping, engines and other parts.
Chrysler spokeswoman Debra Nelson said nine of its 13 North American final
vehicle assembly plants had been hit by the outage. She said some of the
plants may not have lost power, but could have shut down as a precaution.
The massive outage hit Michigan, New York, Ohio, New Jersey and parts of
Canada, where much of the domestic auto industry's plants and offices are
concentrated. The headquarters of all three automakers lost power shortly
after 4 p.m. EDT; GM employees had to walk down from their skyscraper by
the Detroit River. "We are sitting here in the dark," Chrysler spokesman
Dave Barnas said from the company's headquarters in Auburn Hills, Mich.
Traffic was also snarled at the Ambassador Bridge, the major freight connection
between Detroit and Ontario, Canada. All three automakers have more
than two months' worth of new vehicles in inventory and on dealer lots,
making shortages unlikely.
Source: CNNfn |
*This issue
is not responsible for the reliability of the published information. Such
is to be attributed to the mentioned sources.
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