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Business Industry Capital  
Bulgarian
Industrial
Association
BUSINESS INDUSTRY CAPITAL
Wednesday, 20 August 2003, Issue 993
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 
(20.08.2003)
EUR/BGN  
1,95583
GBP/BGN   2.78093
USD/BGN 1,74815
CHF/BGN   1.26558
Main Interest Rate
 (as of 25.06.2003)
2.52%
FINANCIAL NEWS
The gross amount of the foreign debt as of the end of June 2003 is USD 11.951 billion, which is growth of 969 million as of the end of 2002. The amount of the foreign debt in EUR is EUR 10.427 billion. The foreign debts of the private sector are in amount of USD 3.158 billion. They have grown with USD 545.4 million during the fist six months of the year. The payments of the foreign debt during the period January-June were in amount of USD 645.9 million.
Source: Standart 
List of 1084 state-owned companies offered for privatization with non-cash
payment instruments (bonds) ‘2003
PRIVATIZATION
All documents for the sale of 65 per cent of the capital of Bulgarian Telecommunication Company (BTC) are ready. Within the next few days they will be applied for approval at the Supervisory Board of the Privatization Agency. The documentary includes the present contract with Viva Ventures with the amended parametres, shareholders and guarantee agreement, the statute of BTC, management contract.
Source: Standart 

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 - 19.08.2003

Total turnover in BGN: 102 411.81
Traded companies: 33
Official markets: 11 537.57
Free market: 87 868.24
Privatization deals: 640.00
Biggest change:
Orel invest Holding (PF) (Sofia ) -11.76 %
Synergon Holding (Sofia ) 6.78 %

 
 
General Meetings Today

Agrotrade(Sortovi semena 98) (Pleven)
Aquarex-V (Sofia)
Bulgarian-Iraqi Consortium (Sofia)
Florina-Bulgaria (Sofia)
Gas Supply-Haskovo (Haskovo)
Kremikovtzi-Rudodobiv (Sofia)
Polihart (Plovdiv)
Polihart - 98 (Plovdiv)
Sevt (Kazanluk)
Sortovi semena-Pleven (Pleven)
Vassilevi Bros. (Sofia)
Vinprom service 98 (Sofia)
COMPANIES
The territory of Heavy Machine Building Works-Russe JSC may become a separate municipality, announced the Executive Director of the factory Mr. Rumen Koev. An initiative committee established by the managers of Kovashko-presov zavod JSC, Russe, Polisan JSC, Rousse and Metalengineering JSC proposed the region to become a separate administrative unit.
Source: Monitor

Bulgargas will accumulate a part of the finances, the company need for the investment programme by a bond issue, announced the Deputy Minister of Energetics Mr. Ilko Kotzev. The details for the bond issue will be announced after the election of an agency, which shall estimate the credit rating of the Bulgarian gaz Monopoly.
Source: Sega

Varna airport and Bourgas airport have purchased the assets of the bankrupted Balkan Airlines, which are located on the territory of both airports. The assets include the technical and the catering equipment and are a part of the property of Balkan Airlines, which are sold by the syndics.
Source: Pari

Dandy Precious, Barbados, a division of the Canadian Dandy Precious Metals has exercised the option for the buyout of the Bulgarian assets of the British company Navan Mining, which include the gold-copper mine in Chelopech and the golden deposits near Krumovgrad. The option expired on August 15. Dandy Precious decided to exercise it and paid totally USD 26.5 million.
Source: Dnevnik 
 

Thomas Cook will invest BGN 30 million in the construction of a holiday village on the Southern Seaside, announced the representative of the German tour-operator and Executive Director of Elit Tour Ltd. Mr. Hristo Kolev. The village will be built on a territory of 22 dca. During this year Thomas Cook invested over EUR 10 million in Bulgaria as investment credits against tourist services.
Source: Dnevnik 

Two new hypermarkets Billa Bulgaria will be opened in Sofia during the next year, was reported from the company. Thus the stores from the Austrian chain in Sofia will become six.
Source: Dnevnik

BEIS Rating
Other service activities
Top 10 companies by
Fixed Assets for 2001
1
Jet (Smolyan )
1 893 000
2
Parkings and garages (Sofia )
1 877 000
3
R.F&T (Sofia )
901 000
4
Svezhest-Sofia (Sofia )
882 000
5
Sakralen park-Vladaya (Sofia )
567  000
6
Zdravko Linkin-Teolino (Plovdiv )
561 000
7
Svezhest-Gabrovo (Gabrovo )
532 000
8
Bagra (Varna )
355 000
9
Karma-International (Sofia )
294 000
10 Higia (Kyustendil )
212 000

 
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
9412.45
(+90.76)
Nasdaq Composite
1739.49
(+37.48)

Commodity Exchanges
prices as of August 15, 2003


Commodity Price
LIGHT CRUDE ($US/bbl.)
30.89
BRENT CRUDE ($US/bbl.)
28.66
HEATING OIL ($US/gal.)
0.7985
NATURAL GAS ($US/mmbtu)
4.895
UNLEADED GAS ($US/gal.)
0.894
GOLD ($US/Troy Oz.)
359.90
SILVER (cents/Troy Oz.)
4.927
PLATINUM ($US/Troy Oz.)
697.00
HOGS (cents/lb.)
52.575
PORK BELLIES (cents/lb.)
81.55
LIVE CATTLE (cents/lb.)
78.50
Europe
OMV, Austria's national oil and gas company, achieved better than expected profits on improved oil refining margins and higher oil and gas output. The company, which completed its long-term refinancing and made two of its biggest acquisitions during the period, saw a 65 per cent jump in operating profit for the first half of the year. Earnings before interest tax for the first six months were EUR 322m (USD 359.1m) from EUR 195m a year ago. Net profit for the first half was up 66 per cent to EUR 195m euros on sales of EUR 3.47bn, up 5 per cent from last time. Higher earnings in the refining and marketing segment was also a key factor in the strong results, the company said. But the effect of higher oil prices was offset by the strong euro against the dollar. Earlier this year, the group took over 313 filling stations in Germany, Hungary and Slovakia, plus a 45 per cent stake in the Bayernoil refinery, and purchased the upstream oil and gas assets from Germany's Tui for EUR 300m. The company said that its market share in the Danube region grew to 12 per cent, making it the region's leading player. Wolfgang Ruttenstorfer, chief executive, said: "We have delivered on our strategic goals through selected acquisitions and developed lea ding positions in our key markets from which we can deliver organic growth going forward." 
Source: FT

USA
Unions locked in talks with Goodyear Tire & Rubber on Monday signalled that there was likely to be no immediate resolution to marathon talks between the two sides after saying the most recent proposal from the tyremaker "requires more time" to be analysed. The development comes as investors are increasingly anxious about the talks, which have dragged on since March. On Monday, a leading Wall Street analyst cast doubt on Goodyear's efforts to push through a turnround plan for its lossmaking North American operations. John Casesa, auto analyst at Merrill Lynch, said he feared the plan "might not be sufficiently aggressive". Goodyear needs a new labour agreement with unions covering 16,000 employees at 14 plants not only because the previous pact has expired, but also because it wants to secure union agreement on plant closures as it tries to restore its North American unit to profitability. The United Steelworkers of America told its members that it was studying a proposal that Goodyear had tabled on Sunday afternoon.  "Due to the company's financial condition, these negotiations involve more complex issues than either side has experienced in the past. This requires more time and focused attention to the details in these proposals," the union said. Mr Casesa said Goodyear's efforts were complicated by an operating environment that appeared "to be weaker in several areas than management had expected". 
Source: FT


*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) 9801086, fax (+359 2) 9814567, mail: bic_office@bia-bg.com


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