The Bulgarian Stock Exchange (BSE) is screening opportunities to start trading derivative instruments, bourse managers told reporters at a news conference dedicated to its plans for this year, Dnevnik daily reported. While hopes are that the launch of derivatives might take place already this year, none of the participants would commit to a specific deadline, nor define the type of derivatives under scrutiny or if the market was ready to use this type of securities. read more

The International Spring Fair in Bulgaria’s second largest city of Plovdiv will welcome 650 Bulgarian companies, 12 per cent more companies than last year, and 320 firms from abroad, the general manager of International Fair Plovdiv Ivan Sokolov told a news conference. The exhibition, traditionally focusing on consumer goods and technologies, will for the first time feature firms from Ukraine, Singapore, Norway and San Marino. read more

At a May 8 meeting, the board of directors of the Bulgarian National Bank (BNB) turned down the banking licence request of Financia Bank, 70 per cent owned by Bulgaria’s Alfa Finance Holding, the BNB said in a statement. The entity, currently being registered, is yet to comply with the regulations of the Credit Institutions Act, the statement reads. read more

Bulgaria's Cabinet was considering plans to reform revenue collection by merging all government agencies handling such activities, former finance minister Milen Velchev told Bulgarian National Radio on May 8 2008. "We are not talking about dismantling the customs agency or the national revenue service, which is the main pillar of the tax administration," he said. read more

Average inflation in Bulgaria will remain high this year and there was "a considerable risk" that recent one-off effects would translate into an even more significant and protracted increase in inflation, the European Central Bank (ECB) said in its latest convergence report on May 7 2008. The report is the first issued by the ECB after Bulgaria joined the European Union in January 2007. read more

Pazardjik BT, formerly a part of state-owned Bulgartabac Holding and now owned by Bulgarian firm Chesteam, is the sole eligible bidder for 67 per cent of Bosnian cigarette factory Fabrika Duhana Mostar, SeeNews agency reported, quoting a statement of the Bosnia and Herzegovina privatisation agency. The procedure attracted two offers, the other from an unnamed Canadian company. read more

By the end of the year Serbian Delta Maxi plans to open 10 new supermarkets in Bulgaria, as part of its regional expansion campaign, Serbian broadcaster B92 reported. Delta Maxi bought a majority stake in Bulgarian retail chain Piccadilly last year, at which point its CEO Dragan Filipovic said the company would invest 70 million euro in Bulgaria over the next two years. read more

More than half of the the 69 industrial companies listed on the Bulgarian Stock Exchange have reported year-on-year declines in net profit for the first quarter of 2008, investor.bg reported on May 7. A total of 40 companies reported lower profit, although 42 said their sales revenue went up, pointing out a trend for expenditures growing at a faster pace than revenues. read more

The array of business interests of Bulgarian tourism boss Georgi Gergov expanded into road maintenance with the purchase of Plovdiv-based Putishta AD, Dnevnik daily said on May 7, quoting unnamed sources close to the deal. The road maintenance sector currently is dominated by Bulgaria's richest man Vassil Bozhkov, who owns Putishta Holding and Moststroy, and Trace Group, majority-owned by Nikolai Mihailov. read more

Several companies have already thrown their hats into the ring to be considered as advisers for the establishment of Bulgaria's energy holding, an Economy and Energy Ministry spokesperson told The Sofia Echo on May 7. However, the spokesperson would not disclose how many there were or which companies applied for the position. The ministry announced the tender to choose a consultant that would advise it on setting up the energy holding, which would take over the state stakes in Maritsa Iztok mines, Maritsa Iztok II thermal power plant, state-owned gas distributor Bulgargas, power grid operator National Electricity Company and Kozloduy nuclear power plant on May 6. read more