International Monetary Fund approved the grant of the last tranche of USD 39 million to Bulgaria in accordance with the two-year agreement. The Board of the Fund approved the fourth review of the agreement. Bulgaria has so far received on it USD 281 million. In March is expected to arrive a mission of the fund that will negotiate for signing of a new protective agreement.
Source: Standard 

The awards Financial Product of 2003, divided in 6 categories, were granted during the financial exhibition Banks, Investment, Money, held in Plovdiv. Post bank won the prize Credits and Financing for its residential credit My Home. Elana Eurofund won the prize Investment Credits and Deposit Gathering. The award in the group Best Electronic Financial product was granted to Elana Tracer by Elana Trading JSC. PIC Doverie won the prize for additional pension insurance, as well as the biggest prize.
Source: Pari 

The US company AES, which will be building the new 680 mW capacity in TPP Maritza Iztok 1 should sign a new contract with NEC by the end of March, Mr. Konstantin Shushulov – Chairman of the State Energy Regulation Commission announced. The previous deadline was the end of January. Currently AES holds 88 per cent from Maritza Iztok 1, and 12 per cent are owned by the offshore company 3S Mauricius. The project is to the value of EUR 1 billion and its starting is postponed for the fourth consecutive year..
Source: Pari 

Four furnaces of the cement plant in Devnia are stopped because of a break-down, was reported from the Regional administration in Varna. The workers are removing the break-down. Civil protection department did not take any activities because the substances at the break-down were not poisonous and do not pollute the environment.
Source: Standard 

The Council of Ministers gave no permission to Svishtov-based company Sviloza to purchase a plot near the city of Svilengrad because there was risk related to the economic factor in the deal. According to the report of the police the purchase may threatened the national security. Sviloza JSC was privatized during 1999 by MEBO Sviloza – 2000 and A.R.U.S Limited – USA. The company was registered in the off-sore state of Delaware.
Source: Standard  

The Italian company Alenia Maccaroni, which delivered the radar system of the Air Traffic Management Department, has asked for extension until February 15 to end the tests of the system. According to unofficial sources, Minister of Transport Mr. Nikolay Vassilev has agreed to that. In the end of 2003, Mr. Vassilev fixed ordered the Italian company to end the tests by the end of January, otherwise, hi said, the contract with the Air Traffic Management Department might be broken.
Source: Pari

USA
Cisco Systems, the world's largest maker of equipment that directs internet traffic, has reported a 27% fall in second-quarter profits.  Sales, however, rose during the period and company President and Chief Executive John Chambers voiced optimism that "the global economy is improving". Cisco shares fell during after-hours trading in New York as the results were worse than some analysts had forecast.   That may hurt rivals as investors see the company as an industry benchmark. Net income during the three months ending 24 January was USD 724m (577m euros), compared with USD 991m the previous year.   The drop was mainly down to a USD 567m accounting charge that relates to an earlier acquisition. Sales painted a happier picture, climbing 15% to USD 5.4bn, the highest level in three years. They gained 5.8% from the previous quarter. Analysts said that the increase in revenues might point to a pick up in corporate spending that would bode well for the US economic recovery. Cisco makes the routers, switches and other data networking products are used to direct traffic through the internet.   Its customers include corporations, educational institutions, and governments.
Source: BBC