Lukoil's derogation set to stay
The Lukoil-Neftohim refinery in Burgas has promised to pay more than 500 million levs in taxes, in return for which the state will keep its exemption from the European ban on the import of Russian crude oil, announced the co-chairman of the DPS parliamentary group and Magnitsky-sanctioned MP, Delyan Peevski.
GERB had requested that the derogation be cancelled last week, and DPS had supported the idea. According to Peevski, the Prime Minister Nikolay Denkov, the co-chairmen of the WCC- CB group Kiril Petkov and Atanas Atanasov were present at today's meeting, and Finance Minister Asen Vassilev participated online.
Lukoil has a history of avoiding paying taxes, especially through its enterprises in Switzerland and the Netherlands.
Sofia blames Vienna again over veto
Vienna is refusing to allow Bulgaria into Schengen because of the nationalist-populist rhetoric of certain political parties, according to former prime minister and WCC chairman Kiril Petkov.
The coming weeks will see a series of meetings to decide whether Austria and the Netherlands will waive the veto they have imposed on Bulgaria and Romania's admission. Austria, in particular, has cited the entrance of illegal immigrants from both countries and has said that reform is required before Schengen is expanded.
Petkov also insisted that the veto results in higher food and fuel prices in Austria, triggered by Bulgarian transit and export.
FIB fails green bond
First Investment Bank )FIB) has failed to generate interest on the huge green bond issue for 300 million euros it announced more than a month ago. This became clear first from the withdrawal on October 19 of the preliminary rating by Fitch for the upcoming issue with the explanation that the operation of issuing the subordinated instruments will not continue as planned. The following day the bank itself disclosed this to its stock investors. In it, FIB states that it maintains its intention to place the issue, but is postponing it due to the state of the markets.
"Due to the sharply deteriorated geopolitical environment and the record increases in yields on international debt issues and following the recommendation of the leading managers of the issue - Citigroup Global Markets Limited, Landesbank Baden-Württemberg and Raiffeisen Bank International AG, First Investment Bank has decided to temporarily postpone its placement," FIB explained to Kapital.
Lukoil's derogation set to stay
The Lukoil-Neftohim refinery in Burgas has promised to pay more than 500 million levs in taxes, in return for which the state will keep its exemption from the European ban on the import of Russian crude oil, announced the co-chairman of the DPS parliamentary group and Magnitsky-sanctioned MP, Delyan Peevski.
