Export subsidies for BGN 3 million will grant the State during this year. The funds are granted on 4 directions, mainly for the Arabian markets. The subsidies are pointed to sensitive agricultural products that are realized on competitive markets. The Minister signed the thousand contract on SAPARD programme with Shumen-based company Boni holding. The contract amounts to BGN 970,4 thous. for construction of a fodder work-shop.
Source: Novinar 

The state will be issuing bank crediting guarantees to companies, participating in projects for the modernization of the Bulgarian army, Mr. Nikolay Svinarov – Minister of Defense, announced during the Bulgarian – Czech forum. He added the proposal would be coordinated with the IMF, because the fund had fixed a limit for the loan guarantees. Mr. Svinarov said he hoped the IMF would give its agreement by the middle of the year. Companies from USA, Germany, Italy and Spain were ready to finance projects in the defense field, if the state issues guarantees for loans on them. Bulgarian companies may take part in the projects as subcontractors.
Source: Pari

Privatization Agency will become a trade company, 100 per cent owned by the Council of Ministers, according to the amendments in the Law on Privatization and Post-privatization Control. These amendments were presented yesterday by the Deputy Prime Minister Ms. Lidya Shuleva to the political council of NMSS. Ms. Shuleva announced the changes would be submitted and reviewed within the next two weeks. The amendments are aimed at expanding PA’s marketing and making it attractive to buyers of higher quality.
Source: Standard 

Lemi Trafo SP Ltd. – Pernik bought through open tender Auto Moto Club – Pernik, Iztok district, which is an isolated part of Vointech SP Ltd. – Sofia. The initial tender price was BGN 59 000. Formula – 2 SP Ltd. – Karnobat became owner of Complex Base and automobile range for drivers’ training – Karnobat, which are isolated parts of Vointech SP Ltd. The initial tender price ws BGN 120 000.
Source: Pari 

Allianz Bulgaria paid taxes in the amount of BGN 6.5 million in 2003, the company announced. It was nominated as one of Bulgaria’s biggest tax payers in the competition, organized by State Tax Directorate. The company insists the authorities to change the insurers’ taxing method.
Source: Standard 

As of March Mr. Martin Zaimov will no longer be Chairman of Bulgarian Post Bank and Executive Director, according to a statement by the bank’s Supervisory Board.
Source: Focus agency 

The Bulgarian-Portuguese company Belsuin Ltd., which as of June 23, 2003 is the owner of the pig-breeding farm in Septemvrici village, plans to close the production cycle. The company plans to install no-residue technologies, which will be used for the production of bio-gas, announced the Manager of the company Mr. Konstantin Tachev. According to the preliminary calculations of German experts, which prepare the project in the farm may be produced 300 kilowatts of electricity per hour.
Source: Dnevnik

Energoproekt has a new Supervisory and Managing Board. From the former Supervisory Board is left only Mr. Miladin Minchev. Members of the Managing Board will be the former Director of the Energetics Committee Mr. Nikita Shevarshidze who is Executive Director. Other members of the Managing Board are the former member of the Board of Directors of NEC Mr. Milcho Golemehov, Ms. Krassimira Velinova, Ms. Milena Ivanova, Ms. Ilina Kostadinova and Mr. Nikola Stoilov. In 2002 78 per cent from the shares of the company for science research, trade and engineering activity were sold to Razgrad-based company Novi energiini iztochnitzi for BGN 3.4 million.
Source: Dnevnik

Varnensko pivo JSC will be called now Ledenika&ММ JSC, decided the shareholders of the company at the general meeting. Ledenika-Mezdra and Varnensko pivo are now property of Bulbrew. Competition Protection Commission gave permission to the two companies on November 20, 2003. The market share of the new company will be at least 24 per cent, just like in 2003.
Source: Pari

Mr. Stilian Stoyanov is the new syndic of Mikroprotzesorni sistemi Pravetz after Sofia District Court ordered to be dismissed the former syndic Mr. Vesselin Rashkov.
Source: Pari 

USA
Monsanto Co. on Tuesday said it expected earnings per share to grow by 10 percent in 2005 and 2006, driven by its corn business and next generation of biotechnology products. Monsanto's chairman, president and chief executive officer, Hugh Grant, confirmed the company expects 2004 earnings per share in the range of USD 1.40 to 1.50, with about 45 percent earned in the first half of the year. Wall Street analysts on average expect earnings of USD 1.56 per share, according to Reuters Research, a unit of Reuters Group Plc. Before an accounting change, Monsanto expects 2004 earnings per share of 55 cents to 65 cents.
Source: Reuters