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Invest Bulgaria News Directory

(1394 Stories Found)

BULGARIA OPENS 31 KM OF MARITSA HIGHWAY

BULGARIA OPENS 31 KM OF MARITSA HIGHWAY
Source: novinite.com - (02/10/2010)

Topics: Infrastructure      Construction

Bulgarian Prime Minister, Boyko Borisov, officially opened Saturday a 31-km section of the Maritsa Highway between the towns of Harmanly and Lyubimets. The new road junction near Novo Selo, providing direct connection with the highway to Greece, also opened Saturday. The cost of construction works is estimated at BNG 36 M and it is financed by the State budget. The contractors are "Patni Stroeshi" (Road Construction), Plovdiv and "Moststroy" (Bridge Construction), part of the "Holding...


BULGARIA MULLS CONCESSION FOR CONTAINER TERMINALS IN VARNA, BURGAS PORTS

BULGARIA MULLS CONCESSION FOR CONTAINER TERMINALS IN VARNA, BURGAS PORTS
Source: novinite.com - (02/10/2010)

Topics: Economy      

The new container terminals at the country's two key Black Sea ports of Varna and Burgas will be granted on concession, officials have announced. "We plan to hold contests to grant the two terminals on concession once construction works are launched. In this way the state can avoid paying back the loan from the Japanese banks, which the previous government negotiated," Deputy Transport Minister Kamen Kichev told journalists on Saturday. The current center-right government and the...


BULGARIA GDP FORECAST TO GROW 0.3% IN 2010, 3.8% IN 2011

BULGARIA GDP FORECAST TO GROW 0.3% IN 2010, 3.8% IN 2011
Source: novinite.com - (02/10/2010)

Topics: Macroeconomic Data      

Bulgaria's economy will grow 0,3% after a 5,1% contraction in 2009 as investments dwindled and consumption shrank, a local think-tank estimated. The country will manage to achieve a growth of 3.8% in 2011 thanks to a rise in exports, according to the Agency for Economic Analyses and Forecasts. Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft. The country is planning to sell bonds amounting to EUR 1 B on...


BULGARIAN INTERIOR RECEIVES BGN 50 M BOOST IN BUDGET 2011

BULGARIAN INTERIOR RECEIVES BGN 50 M BOOST IN BUDGET 2011
Source: novinite.com - (02/10/2010)

Topics: Financial      

The funds allotted to the Interior Ministry in budget 2011 are 5% more compared to 2010, Bulgaria's Interior Minister, Tsvetan Tsvetanov, announced Saturday. The BGN 50 M will be used for salaries and improving work conditions. Tsvetanov reminded the Ministry owes about BGN 30 M as compensations to its employees, and needs really BGN 1 B more in order to function under normal conditions, but promised to make everything possible to fit within the budget frame. The Minister opened...


BULGARIA BIDS SUCCESSFULLY TO SELL KALASHNIKOVS TO INDIA

BULGARIA BIDS SUCCESSFULLY TO SELL KALASHNIKOVS TO INDIA
Source: novinite.com - (02/10/2010)

Topics: Economy      

Bulgaria has won a bid to sell large quantities of the "Arsenal" automatic gun to India, Deputy Defense Minister, Valentin Radev, informs. Radev spoke Friday at the Zmeevo training grounds during the official ceremony dedicated to the 40th anniversary of the military facility. The automatic gun is the Bulgarian modification of the Russian Kalashnikov, deemed better in comparison by many weapons experts. It is manufactured by the "Arsenal' company in the town of...


AUSTERITY MEASURES SEND ROMANIAN COMPANIES TO BULGARIAAUSTERITY MEASURES SEND ROMANIAN COMPANIES TO BULGARIA

AUSTERITY MEASURES SEND ROMANIAN COMPANIES TO BULGARIAAUSTERITY MEASURES SEND ROMANIAN COMPANIES TO BULGARIA
Source: novinite.com - (02/10/2010)

Topics: Business      

Thousands of Romanian companies are moving their business to neighboring Bulgaria, the Bulgarian National Radio, BNR, informs Saturday. The reasons cited are the spending cuts and austerity measures imposed in Romania, lower taxes and better conditions for the business in Bulgaria. In Bulgaria revenue and profit taxes are 10% compared to 16% in Romania. The Value Added Tax (VAT) is also lower. Bucharest recently had to up VAT as a condition to obtain a EUR 2 B loan from the EU and the...


BULGARIAN CUSTOMS BOAST OUTSTANDING RESULTS IN SEPT

BULGARIAN CUSTOMS BOAST OUTSTANDING RESULTS IN SEPT
Source: novinite.com - (01/10/2010)

Topics: Economy      

Bulgaria's Customs Agency said it raised 101.2% of the revenues that it planed to collect in September 2010. The Agency brought a total of BGN 619 M to the state budget, which is BGN 52 M, or 9%, more than in September 2009. The income from VAT on imports was BGN 236 M, 23% up (BGN 45 M) year-on-year; from customs duties – BGN 15 M, 21% increase compared with September 2009; from excise taxes – BGN 368 M, an increase of 1%. In September 2010, the Customs registered the largest revenues...


BULGARIA FINMIN: 2.5% DEFICIT IS BUDGET 2011 BIGGEST SUCCESS

BULGARIA FINMIN: 2.5% DEFICIT IS BUDGET 2011 BIGGEST SUCCESS
Source: novinite.com - (01/10/2010)

Topics: Macroeconomic Data      

Bulgaria will manage to bring its budget deficit below the European Union limit of 3% of economic production without a hike in taxes and social securities, which is the biggest success of budget 2011, according to the finance minister. "Bulgaria is pulling out of the crisis in macroeconomic terms and our expectations are that the revenues in the budget will stabilize," Simeon Djankov told reporters as he handed on Friday the budget draft for next year to parliamentary speaker Tsetska...


BULGARIA BUDGET DRAFT 2011 ENTERS PARLIAMENT

BULGARIA BUDGET DRAFT 2011 ENTERS PARLIAMENT
Source: novinite.com - (01/10/2010)

Topics: Macroeconomic Data      

Bulgaria's Finance Minister Simeon Djankov will hand on Friday the budget draft for next year to parliamentary speaker Tsetska Tsacheva. Bulgaria is planning to sell bonds amounting to EUR 1 B on the international market in 2011 to shore up its finances, according to a finance ministry draft paper. Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft. In budget 2011, financing is going up the most in the...


BULGARIA, SLOVAKIA INK ECONOMIC AGREEMENT

BULGARIA, SLOVAKIA INK ECONOMIC AGREEMENT
Source: novinite.com - (01/10/2010)

Topics: Economy      

Bulgaria and Slovakia signed an economic cooperation agreement in Sofia Friday. The document deals with the bilateral ties in trade, investments, energy, IT, telecommunications, small and medium-sized enterprises, consumer protection, agriculture, and food industry. The economic cooperation agreement concluded the first ever session of the Bulgarian-Slovak Consultative Commission for Economic Cooperation, which lasted two days. The document was signed by the Bulgarian Deputy Economy...


BULGARIA APPROVES LIDL TAKEOVER OF PLUS DISCOUNT STORES

BULGARIA APPROVES LIDL TAKEOVER OF PLUS DISCOUNT STORES
Source: novinite.com - (01/10/2010)

Topics: Business      

Bulgaria's Competition Protection Commission has allowed German supermarket chain Lidl to acquire the Bulgarian stores of another German discount chain, Plus. Thus, the watchdog has given green light to Lidl Bulgaria GmbH's acquisition of Plus Bulgaria Trade KD, Tengelmann Real Estate International Bulgaria KD, Bulgaria Trade EOOD, and Real Estate International EOOD. The Commission has decreed the immediate execution of its decision. In June 2010, the European Commission referred the...


SOFIA AIRPORT LAUNCHES 2 NEW ROUTES

SOFIA AIRPORT LAUNCHES 2 NEW ROUTES
Source: novinite.com - (30/09/2010)

Topics: Business      

Sofia Airport has announced it will launch two new routes on Friday. One of the routes will be conducted by the Russian Ural Airlines, which will start executing weekly flights from the Bulgarian capital to the Russian city of Yekaterinburg. The second route will connect Sofia to the second airport in Istanbul, Sabiha Gokcen, located on the Asian side of the city. The route will be conducted by the Turkish low cost Pegasus Airlines. The new airplanes Airbus 320 of Ural Airlines will...


BULGARIA, TURKEY TO JOIN FORCES FOR EU FUNDING OF GAS GRIDS

BULGARIA, TURKEY TO JOIN FORCES FOR EU FUNDING OF GAS GRIDS
Source: novinite.com - (30/09/2010)

Topics: Infrastructure      

Bulgarian Energy Minister Traicho Traikov has met with his Turkish counterpart, Taner Yildiz, during the second edition of the two-day "Black Sea Energy and Economy Forum" in Istanbul. The Black Sea forum is organized by the US Atlantic Council. It is an initiative to bring together business leaders and policy-makers to discuss strategies regarding Eurasia, Black Sea, the Caspian and Central Asia. "My Turkish counterpart and I discussed the main topics of our energy cooperation. One of...


MELROSE LANDS YET ANOTHER CONCESSION CONTRACT IN BULGARIA

MELROSE LANDS YET ANOTHER CONCESSION CONTRACT IN BULGARIA
Source: novinite.com - (30/09/2010)

Topics: Business      

Edinburgh- based oil and gas explorer Melrose Resources has landed a seven-year concession contract to extract natural gas from the Kaliakra field in Bulgaria, the government announced. The new field spreads over 19 sq km and the company is required to extract 255 million m3 of gas between 2011 and 2015. Revenues over the seven-year period are expected to exceed USD 73 M. Bulgaria's government granted in August a ten-year concession for the extraction of natural gas to the UK company...


ROMANIA WANTS TO EXPORT ELECTRICITY TO BULGARIA

ROMANIA WANTS TO EXPORT ELECTRICITY TO BULGARIA
Source: novinite.com - (30/09/2010)

Topics: Economy      

Romania could export more electricity to Bulgaria, according to Adrian Baiscusi, general manager of Romanian power grid operator Transelectrica (TEL). Baicusi has stated, as cited by Act Media, that as a result of Turkey joining the European electricity network (UCTE) in September, Romania should have opportunities to export energy to the south. "For the period to come, the exchange with the neighbors will be intensified, as Turkey got into the syncronisation with UCTE and will import...


BULGARIA GDP GROWS 0.5% IN Q2, SPELLS END OF RECESSION

BULGARIA GDP GROWS 0.5% IN Q2, SPELLS END OF RECESSION
Source: novinite.com - (30/09/2010)

Topics: Economy      

Bulgaria's seasonally adjusted gross domestic product marked an increase of 0.5% in the second quarter compared to the first three months of the year thanks to a rise in exports, pulling the country out of recession, the prime minister announced on Thursday. Boyko Borisov spoke at the 96th Conference of the heads of statistical offices of the European Union Member States, which the Bulgarian capital hosts. The official data he cited is based on the revised methods for GDP under the EU...


BULGARIAN PM ASKS RUSSIANS TO BUILD BELENE NPP FOR EUR 7 B

BULGARIAN PM ASKS RUSSIANS TO BUILD BELENE NPP FOR EUR 7 B
Source: novinite.com - (30/09/2010)

Topics: Construction      

Bulgaria's Prime Minister Boyko Borisov hinted he has asked Russian company Atomstroyexport to build the Belene Nuclear Power Plant for not more than EUR 7 B. Borisov has confirmed a recent statement of Sergey Kirienko, the CEO of the Russian state company Rosatom, which is the parent company of Atomstroyexport, that the construction of Bulgaria's second NPP at Belene should be resumed soon thanks to an agreement with the Bulgarian government. The statements by Borisov and Kirienko have...


BULGARIA, MOROCCO INK MARITIME TRADE AGREEMENT

BULGARIA, MOROCCO INK MARITIME TRADE AGREEMENT
Source: novinite.com - (30/09/2010)

Topics: Economy      

Representatives of Bulgaria and Morocco have signed a bilateral sea trade agreement that has been hailed an important step by the government in Sofia. The deal was signed in Rabat by Bulgaria's Deputy Transport Minister Kamen Kichev and Ahmed Reda Chami, Morocco's Minister of Industry, Commerce and New Technologies. The agreement was approved within the 9th session of the Bulgarian-Moroccan Joint Economic Commission. It allows maritime traders and ship companies from Bulgaria and...


ITALIAN COMPANIES TO INVEST UP TO EUR 3 B IN BULGARIA BY 2020

ITALIAN COMPANIES TO INVEST UP TO EUR 3 B IN BULGARIA BY 2020
Source: novinite.com - (29/09/2010)

Topics: Investments      

Foreign direct investments by Italian companies in Bulgaria will amount to EUR 1-3 B in the next ten years, according to estimates of Confindustria Bulgaria, the Italian business association in Bulgaria. This figure was revealed Wednesday by Massimo Bartocci, the head of Confindustria Bulgaria, at a special news conference, which announced that the General Assembly of Confindustria Balcani, the union of Italian business associations in the Balkan countries, will take place in Sofia on...


BULGARIA TO INTRODUCE FLAT 9% VAT IN TOURISM APRIL 2011

BULGARIA TO INTRODUCE FLAT 9% VAT IN TOURISM APRIL 2011
Source: novinite.com - (27/09/2010)

Topics: Macroeconomic Data      Tourism

Bulgaria's government will introduce a flat 9% value-added tax (VAT) in the tourism sector, not 14% as initially planned, as of the beginning of April next year, a deputy economy minister has announced. The move comes in response to the demand of the European Union that Bulgaria should harmonize tourism VAT, which currently stands at 7% for organized groups and 20% for individual tourism. "The new tax had to be introduced at the beginning of 2011, but it is not a good thing to mess up the...



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