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Business Industry Capital  
Bulgarian
Industrial
Association
BUSINESS INDUSTRY CAPITAL
Monday, 18 August 2003, Issue 991
Daily on-line issue for financal, industrial and corporate news
ISSN 1311-364X Bourse Information Company Capital Market Ltd.
Bulgaria
Financial news* Privatization*
Companies
Bulgarian Industrial Association
news
 Business *
World
USA* Europe
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BULGARIA
Economic indicators 
BNB Exchange Rates 
(18.08.2003)
EUR/BGN  
1,95583
GBP/BGN   2,77915
USD/BGN 1,73898
CHF/BGN   1,26689
Main Interest Rate
 (as of 25.06.2003)
2.52%
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 
List of 1084 state-owned companies offered for privatization with non-cash
payment instruments (bonds) ‘2003
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/

 
 
Bulgarian Stock Exchange - Sofia - 15.08.2003

Total turnover in BGN: 260 958.49
Traded companies: 38
Official markets: 26 045.44
Free market: 165 518.22
Privatization deals: 10 990 437.15
Biggest change:
Badeshtnost (Chirpan ) 100.00 %
Pamporovo (Smolyan ) -10.00 %

 
 
General Meetings Today

Agromachinaimpex-Shumen
Agrotechnica-Troyan (Troyan)
Ahrida (Ya.H. & Co. - Ahrida)
Beta-1 (Sofia)
Brilliant - Tarnovgrad (Modern Fashion-Tarnovgrad-AMT)
Bryast-D (Dobrich)
Dunav-Silistra (Silistra)
Elprom-Trafo-SN (Kyustendil)
Energoinvest Holding (PF) (Sofia)
Jacquard (Dobrich)
Knezim (Knezha)
Montana Vininvest (Montana)
Poligroup holding (Bourgas)
Porter (Sofia)
Tehnoprogres-98 (Pleven)

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 
 

BEIS Rating
Mining of metal ores
Top 10 companies by
Fixed Assets for 2001
1
Asarel-Medet (Panagyurishte )
132 644 000
2
Elatsite-Med (Etropole )
83 097 000
3
Navan Chelopech
22 003 000
4
Osogovo (Kyustendil )
15 619 000
5
Bimak (Tchelopech )
11 520 000
6
Gorubso-Madan (Madan )
9 449 000
7
Gorubso - ROF (Roudozem )
6 597 000
8
Gorubso-Lucky (Luki )
5 120 000
9
Gorubso-Kardzhali (Kurdzhali )
3 857 000
10 Bourgas Copper Mines
3 335 000

 
List of state-owned companies offered for privatisation on first
 centralised public auction - 23.06-4.07.2003

 
 
New service!
Industry reports

Development and Production of:

Liquid Fuels in Bulgaria
***
Tailoring Products in Bulgaria
***
Knitwear in Bulgaria
***
Textile Products in Bulgaria
***
Wood-processing products in Bulgaria
***
Manufacture of paste products
***
Dairy Products in Bulgaria
***
 Sales of ceramic tiles in Bulgaria
***
Processing of fruit and vegetables
*** 
Sales of wine in Bulgaria


 
ISO certificated Bulgarian companies
BULGARIAN INDUSTRIAL ASSOCIATION NEWS
BUSINESS ON INTERNET

BIA Market place
Business offers
worldwide offers for buying and selling of commodities;
Used Equipment Offers Real estate
***
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.
***
WORLD
Index for Stock Exchange
prices as of August 15, 2003

Dow Jones Industrial
9321.69
(+49.93)
Nasdaq Composite
1702.01 
(+1.67)

Commodity Exchanges
prices as of August 15, 2003



 
 
Commodity Price
LIGHT CRUDE ($US/bbl.)
30.99
BRENT CRUDE ($US/bbl.)
28.81
HEATING OIL ($US/gal.)
0.8051
NATURAL GAS ($US/mmbtu)
4.848
UNLEADED GAS ($US/gal.)
0.9994
GOLD ($US/Troy Oz.)
364.70
SILVER (cents/Troy Oz.)
4.927
PLATINUM ($US/Troy Oz.)
696.50
HOGS (cents/lb.)
51.90
PORK BELLIES (cents/lb.)
81.70
LIVE CATTLE (cents/lb.)
78.05
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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