Headlines (Octomber 03 2003):
Business news

The Agency for Foreign Investments (AFI) announced that the direct investments in Bulgaria for the first six months are 526.9 million USD, which is a 50% growth compared to the same period of 2002. The investments covered 53.6% of the deficit of the current account compared to 91.3% for the same period of the previous year. According to the National Statistic Institute the direct net foreign investments in non-financial organizations from January to June this year were 326.2 million USD. 245.8 million of them were invested in the second quarter of the year.

World Bank's representatives will arrive in Bulgaria to review the fulfillment of the agreements undertaken by the government in accordance with the Second Program Loan for restructuring (PAL II). The vice Premier Plamen Panaiotov will meet Nil Parisen and Albert Martinezq members of the World Bank's mission. The constant representative of the World Bank in Bulgaria Oscar de Braun Kops will also attend the meeting.

The clients of the additional insurance funds are 2 019 369 people. Their number has increased with 214 900 people for the last six months. 41.73% of them are insured in the Professional Insurance Company (POC) "Doverie", 27.85% of them in POC "Alianz Bulgaria" and 11.74% of them in POC "Saglasie".

The director of the commission for transportation and telecommunications by the government Iordan Mirchev announced that National Railroad Company will introduce a new train for container transportation on the line Sofia-Thessalonica. The train will carry trucks twice a week in order to facilitate the traffic and reduce the traffic jams in the border crossing point Culata-Promahon.

Emil Culev is the new owner of 100% of the capital of Contract-Sofia-buyer of "DZI". His only partner in the company-"Denis Overseas Ltd." left the company.

Today the Spanish Minister for Foreign Affairs and the vice Premier and Minister of Transportation and Telecumunications Nicolai Vassilev signed an Agreement for international transportation of people and goods by trucks. This new agreement replaces the old one ratified in 1978.

The German company Siemens is thinking over the possibilities to expand its activity in Bulgaria in the field of electrical industry. According to our ministry Hainrih Fon Pierer chairman of the Board of Directors of Siemens announced that on a meeting with the Minister of Energy and Energy Resources Mitko Kovachev. According to Pierer Bulgarian electrical engineers might take part in the development of software products for the medical and telecommunication equipment of Siemens.

947 million kWh amounting to 75 million BGL are the damages from stealing and more than 1 million BGL are the damages from violations of the energy distribution system for the period January-July 2003. This is what the data of the seven energy distribution companies shows, according to the Ministry of Energy and Energy Resources. The damages to the NEC from stealing of cables and equipment for the same period amount to 194 441 BGL.

Siemens expressed its willingness to participate in the modernization of the equipment of the hospitals in the country. This was announced on a meeting between the vice Premier Lidia Shuleva and the president of Siemens- Hainrih Fon Pierer. On the meeting they discussed the opportunities for Siemens to investment in local companies by offering of know-how and equipment.

11 pilot projects with total value of near 380 000 BGL will be sponsored in a joint project of the Ministry of Agriculture and the Program for development of the UN - "Stable development of the rural regions". The approved projects are on the territory of 11 municipalities in the region of Pernik, Montana, Blagoevgrad, Kardjaly and Haskovo.

Municipality Plovdiv will ask for a budget of 127 000 000 BGL. The make outs and the financial applications are alredy signed by Ivan Chomacov mare of the city and will be introduced in the Ministry of Finance for approval. The project budget has funds for the beginning of the construction of a plant for recycling of hard daily wastes totally amounting to 37 million BGL. The municipality plans to attract foreign investments for the reconstruction of the city streets.

Petrich Illia Levkov, Chairman of the Bulgarian Industrial Association meat, in Sofia, with representatives of the Ministry of Energy and Energy Resources and with Georgy Minkov CEO of "Energy Distribution - Sofia". The issue of the meeting is the discussion of the relations between "Energy Distribution" and the big consumers. One of the new elements is guaranteed protection for the consumer by arranging intermediate payments from preliminary deposits, with additional bonus for the big and honest payers. The next meeting on which the new contract for the whole country will be signed will take place in Petrich.

The Minister of Transportation and Communications Nicolai Vassilev said that the National Railroad Company may become the biggest metallurgist in the country. The company may ask for declaring "Kremikovtzi" bankrupt, if the plant fails to pay its debts for transportation on time. Each non-performance of the 2003 contact between "Kremikovtzi" and the "National Railroad Company" is guaranteed by penalties.

The press-office of the Ministry of Transportation and Communications announced that Italy will fulfill the Bulgarian appeal to increase the number of universal permits for EURO 2 category vehicles with 2500 numbers. For the 2004th the Italian government will offer Bulgaria 14 000 permits. On 1.09 2003 "Alitalia" made its first flight on the destination Rome-Sofia and backwards with 50 passengers in the one direction and with more than 100 in the other.

"Overgas" started the payments of the first interests over its bonds emission. The annual interest for the holders of the bonds is 10%. "Overgas" has transferred to the holders of the papers more than 1 million BGL. Representatives of "Overgas" announced that each physical person that does not possess bank accounts can receive their money from any of the branches of UBB. The contractual lawn issued by the company on November the 8th last year is for 20 million BGL.

Computer Associates announced two new licensed programs on the Bulgarian market, concerning BrightStor ARCserve package for archiving and recovering of data. 1. Till September the 1st BrightStor ARCserve Backup v.9 is going to be sold on a special price without the requirement for minimal number of points according to the rules of CA Open License Program. 2. All leagal users of Veritas, Legato, and others can upgrade to BrightStor™ ARCserve® Backup v.9 on special upgrade prices.