Bulgarian
Industrial
Association |
BUSINESS INDUSTRY CAPITAL
Wednesday, 20 August 2003, Issue
993
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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
Industrial Association
news
Business
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World
USA* Europe |
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BULGARIA
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Economic indicators
BNB Exchange Rates
(20.08.2003)
Main Interest Rate
(as of 25.06.2003)
2.52% |
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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 |
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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/
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Bulgarian Stock Exchange - Sofia - 19.08.2003
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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
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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 |
9412.45
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(+90.76)
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Nasdaq Composite |
1739.49
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(+37.48)
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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
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PLATINUM ($US/Troy Oz.) |
697.00
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HOGS (cents/lb.) |
52.575
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PORK BELLIES (cents/lb.) |
81.55
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LIVE CATTLE (cents/lb.) |
78.50
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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.
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