Financial news

The scheme for payment of the first three days of sick leaves as an anti-crisis measure has been revised, National Social Security Institute (NSSI) head Hristina Mitreva said. The first day will not be paid to employees. The second and third day will be covered 80% by employers. From the forth day on the compensation will be paid by the NSSI. The benefits will be 80% of the insurance income. The amendment to the Social Security Code will be approved by the cabinet next week. The 60th measure in the government's anti-crisis plan was included without the agreement of the social partners. Initially employers had to pay 100% and 60% of the remuneration on the first and second day. The third day had to be unpaid and then the NSSI had to join in.

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Concessions

Several companies, including French ones, were interested in acquiring Sofia's water utility company Sofiiska Voda, French ambassador to Bulgaria Etienne de Poncins told on April 13 2010.  "There is a confirmed interest for the transfer of Sofiiska Voda's concession," he said during a seminar on public-private partnerships in the water utilities sector in France. According to Sofiiska Voda chief executive Ivan Ivanov, financial offers had been tabled for the Bulgarian company, which is a subsidiary of the British United Utitlies. Earlier in April, Bulgarian daily said that United Utilities was considering offers for Sofiiska Voda, having already sold its stakes in Northern Gas Networks Holdings Ltd and Manila Water Company.

Companies

The Ministry of Regional Development and Public Works has paid yet another BGN 5 million to 40 construction companies, to which it owes an estimated BGN 100, 000 to BGN 1 million in debts. The Ministry’s overall indebtedness to the construction sector runs up to BGN 200 million, of which nearly BGN 127 million has been paid so far. The remainder will be channelled through the Bulgarian Development Bank (BDB), as the government has decided a couple of days ago.

Men dressed in black nearly frightened to death senior people who queued to pay their electricity bills. SANS agents dressed in suits and wearing dark glassed attacked the customer's offices of EVN power distribution company in eight Bulgarian towns. The agents surprisingly raided the offices of the company in the towns of Stara Zagora, Bourgas, Kardzhali, Haskovo, Yambol, Sliven, Krumovgrad and Zagore, reported the director of EVN Bulgaria Joerg Zolfelner. The agents asked for documents proving the made by EVN investments. "The files must be presented within 24 hours," the agents insisted. "It is very strange why the agents searched for documents in the customer's offices of the company," Mr Zolfelner commented.

Bulgaria's State-owned Information Services company will no longer have monopoly on the IT services for the Finance Ministry, according to the public tender results announced Tuesday. The Information Services, whose last contract is from 2007, will only implement Lot 4 of the public order while 3 consortiums will serve the other 3. The winners of the other three lots are the consortiums that filed the best offers. Lot 1 was won by Siemens, Kontrax and Paraflow for BGN 11.73 mln. Stone CNSys won lot 2 with a BGN 10.437 mln bid. Lot 3 will cost BGN 7.245 mln and will be implemented by the VCA consortium.

BGN 1,1 million has been allocated for improving the working conditions in the railway sector in 2009, Bulgarian State Railways (BDZ) Executive Director Pencho Popov announced. Pencho Popov and Milcho Lambrev, director of the National Railway Infrastructure Company (NRIC), accepted the recommendations made by the European social partners in the railway transport – Community of European Railways and European Transport Workers’ Federation. The recommendations include a package of measures streamlining railway workers’ competitiveness, recommendations for better representation and integration of women into the railway sector, as well as a package of measures dealing with the feeling of insecurity in the public transport.

Terra Communications JSC - Sofia will serve the Blue parking zone in Pazardzhik through sms. Four companies submitted tender bids in the procedure announced by the municipal administration. The mayor of Pazardzhik Todor Popov said that three companies - Mobile Parking Consortium – Sofia, Association Datamax JSC and Epay JSC, DZZD Consortium Parking Plus Pazardzhik - Bourgas, did not cover the requirements and only Terra Communications received invitation for participation in the negotiations. The company has proposed to the municipality free hardware and software required for the construction and operation of the Automated System for SMS payment. Terra Communications will receive between 2 and 7.5 percent of the price per sms.

Europe

Two former Northern Rock directors have been fined by the Financial Services Authority (FSA) and banned from working for a regulated financial firm again. The City regulator fined former deputy chief executive David Baker £504,000 for misreporting mortgage arrears data. Former credit director Richard Barclay was fined £140,000 for failing to ensure accurate financial information. The FSA said the two had admitted their misconduct and received reduced fines as a result of their co-operation. David Baker was Northern Rock's deputy chief executive between 2004 and 2008, and was responsible for the bank's reporting of financial information. 

America

Wal-Mart Stores, the world's largest retailer with thousands of big box stores around the world, is looking to make those stores more environmentally friendly. Speaking at Fortune's Brainstorm Green conference, Wal-Mart Chairman Lee Scott said Monday that the retailer was eyeing stores made of materials that easily revert back to the earth. Scott didn't elaborate on the plan. A Wal-Mart spokesman said the company is also looking to use more recycled materials in the construction process. The company has been criticized for its buildings in the past, especially for its tendency to build stores and then move out of them once they get too small. The empty buildings can become a headache for communities.

Asia

An ongoing dispute over EU import duties on Chinese-made leather shoes is set to enter the next stage, with Beijing readying itself to call for a formal WTO investigation into the practice when the organisation meets on 20 April. Renewed in December 2009 for a further 15 months, the EU says the import charges are a justifiable means of protecting European shoe producers from Chinese imports sold at below cost price. The tariffs also apply to some Vietnamese shoes.Beijing retorts that the practice is little more than old-fashioned protectionism, and has won the support of a number of European importers of Chinese-made shoes such as Timberland and Adidas.

Museum of History in Teteven

The Museum of History in the town of Teteven (central north Bulgaria) is located on the central square and offers visitors a rich collection of historical and ethnographic exhibits. In 1932, the voluntary committee Georgi Benkovski initiated the construction of House-monument in appreciation of the memory of the Teteven citizens died for the national liberty. The first museum collection was displayed there. After a reconstruction and expansion in 1974, a new exposition was opened, showing the history of the town staring from high antiquity until the Liberation from Ottoman yoke. The Museum exhibition includes three departments: Archeology, Ethnography and National Revival. The first one shows instruments dating from the late Paleolithic and the Neolithic period – finds that reveal the material and spiritual culture of the Thracians. The second one shows the crafts typical for the Teteven region. The National Revival department exhibits pictures, documents and personal belongings that reveal the participation of the local people in the National Liberation struggles.

On that day:  G. S. Rakovski National Defence Academy Official Holiday Nicopolis ad Istrum