Batova River Manganese Mine Ltd. received a permit from the Regional Inspection of Environment and Waters – Varna to build a gallery for research extraction in the region of Obrochishte near Albena. The company, however, is not allowed to implement industrial extraction.
Source: Pari 

Minister of Transport Nikolay Vassilev said that after the sale of 30 per cent from the capital of Bulgarian River Navigation he would propose to the minority shareholders to select at least one representative in the company’s Board of Directors, who shall protect their interests. The privatization of the company started at the stock exchange through public offering of its shares. The current price is BGN 87 per share, that is why only 400 shares were sold on Monday. Representatives of the investment mediator said they were ready to reduce the price. The shares should be sold at the exchange no later than March 29.
Source: Monitor 

The Deputy Director of Sofarma Mr. Decho Dechev is appointed for Director of the Health services office. The new Director of the National services office Mr. Ivan Bukarev selected him. As a Deputy Director in Sofarma Mr. Dechev was responsible for the domestic market of the pharmaceutical company.
Source: Monitor 

A decision for issue of bonds by BGN 20 million or their equivalent in other currency is expected to be discussed at the forthcoming general meeting of Eurobank that will take place on March 23. If it is approved, the papers will be personal, paperless, interest bearing and free transferred. The term of the issue will be within 7 years. There is an opportunity the bonds to be distributed in more than one issue. A priority in the development of Eurobank is the crediting of the small and medium-sized business and the development of Transcard credit cards.
Source: Pari

Metropolitan SP JSC opened a procedure for selection of an executor of the railway road of the first subway diameter from Sofia’s underground. This is the section between Dragan Tzankov Blvd. and Interpred, which should be put into exploitation by 2005, Mr. Stoyan Bratoev, Director of the Metropolitan said. He added he expected big interest in the procurement. So far, four different executors have built the underground’s railway. The guarantee for participation in the tender is BGN 25 000, and the term for submission of offers expires on March 23.
Source: Dnevnik

Universal Investment Bank JSC, UNIBank JSC for short is the new name of Balkan Bank Scopie. The new owners of the Macedonian credit institution, in which the majority stake of 60 per cent of the capital is held by Mr. Tzeko Minev and Mr. Ivailo Mutafchiev, have changed the name at the Annual general Meeting of the bank, which took place on February 5.
Source: Pari

One of the most popular breweries in Bulgaria – Bolyarka VT, started producing soft drinks under a license agreement with the German company Sinalco International GmbH&CoKG, the brewery’s Executive Director Mr. Anton Nenov said on Tuesday. The negotiations between the two companies ended on September 10 last year. Bolyarka VT is the exclusive distributor of the Sinalco soft drinks in Bulgaria. The first amounts of these drinks were produced on December 17 last year and were sold mainly in the region of Veliko Turnovo, Sliven and Gabrovo. So far, Sinalco’s products are offered in 50 countries, but the company is planning to expand its presence to 55 countries by the year 2005, Mr. Martin Konert, General Manager said.
Source: Dnevnik 

The meat-processing company Rodopa Shumen 1884 invested over BGN 3 million in order to renew its autopark, announced the Executive Director of the company Mr. George Nikolov. He specified that with the funds, a part of which are grant on SAPARD programme, were bought 20 new cargo automobiles. They will service the export activity of the company. The necessity of Rodopa Shumen 1884 of modern transport equipment is dictated by the high per centage of the production for export.
Source: Dnevnik 

USA
Omnicom Group, the world's largest advertising conglomerate, on Tuesday posted a higher quarterly profit as an advertising industry recovery picked up speed.  Omnicom, home to ad agencies including BBDO Worldwide and DDB Worldwide, said fourth-quarter net profit rose to USD 221.3 million, or USD 1.17 per share, from USD 201.5 million, or USD 1.08 per share a year earlier. Revenue grew to USD 2.5 billion in the quarter from USD 2.12 billion a year earlier. Of that, U.S. revenue rose 15 percent to USD 1.3 billion, while international revenue increased 22 percent to USD 1.18 billion.   Analysts polled by Reuters Research, a unit of Reuters Group Plc, had on average forecast fourth-quarter earnings per share of USD 1.18 on revenue of USD 2.4 billion.
Source: Reuters