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Invest Bulgaria News Directory

(1394 Stories Found)

BULGARIA OPENS REPAIRED SECTION OF DANUBE BRIDGE 1

BULGARIA OPENS REPAIRED SECTION OF DANUBE BRIDGE 1
Source: novinite.com - (03/09/2011)

Topics: Infrastructure      Construction

The repaired Bulgarian section of Danube Bridge 1 between the city Ruse and Romania's Giurgiu was opened Saturday by Prime Minister, Boyko Borisov. The bridge is the only one existing on the Danube to connect Bulgaria and Romania, for which the Bulgarian government has allocated BGN 1.7 M. Borisov was accompanied at the ceremony by Regional Minister, Rosen Plevneliev, Transport Minister, Ivaylo Moskovski, and Culture Minister, Vezhdi Rashidov. "Our Danube capital Ruse needed these...


IKEA TO ATTRACT 1.5 M VISITORS DURING 1ST YEAR IN BULGARIA

IKEA TO ATTRACT 1.5 M VISITORS DURING 1ST YEAR IN BULGARIA
Source: novinite.com - (02/09/2011)

Topics: Investments      

The first Bulgarian store of the Swedish furniture giant IKEA aims at attracting over 1.5 million visitors during the first year after its opening. The information was announced by the Greek Fourlis company, which has the IKEA franchise rights for Bulgaria. The first IKEA store is located on the capital Sofia's beltway and is scheduled to open on September 29th. The free furniture catalogue is being distributed starting Friday to households in the city in 750 000 copies. The prices...


BULGARIA SEALS SALE OF BULGARTABAC TO RUSSIAN BANK VTB

BULGARIA SEALS SALE OF BULGARTABAC TO RUSSIAN BANK VTB
Source: novinite.com - (02/09/2011)

Topics: Economy      

The Supervisory Council of Bulgaria's Privatization Agency has given the final go-ahead for the sale of state cigarette-maker Bulgartabac to BT Invest, a firm wholly owned by Russia's government bank VTB. After five-hour debates on Friday, the Supervisory Council of the Privatization and Post-privatization Control Agency approved the sale of Bulgartabac to VTB for EUR 100.1 M with 6 votes in favor and one vote against. The news was broken Friday night by the Council chair Yuliya Nenkova....


RUSSIA 'FREEZES' BURGAS-ALEXANDROUPOLIS OIL PIPELINE OVER BULGARIA'S 'OBSTRUCTIONS'

RUSSIA 'FREEZES' BURGAS-ALEXANDROUPOLIS OIL PIPELINE OVER BULGARIA'S 'OBSTRUCTIONS'
Source: novinite.com - (02/09/2011)

Topics: Infrastructure      Construction

Russian oil pipeline monopoly Transneft will freeze the construction of the troubled Burgas-Alexandroupolis project, which has been largely obstructed by Bulgaria's government in the past 2 years. Transneft will not abandon the Burgas–Alexandroupolis oil pipeline project - despite its partner Bulgaria's failure to provide financing - but will freeze the construction this fall, Transneft Vice President Mikhail Barkov said on Friday night, as quoted by RIA Novosti. "We are not giving up...


NEW SOFIA SUBWAY LINE TO BE LAUNCHED IN MAY 2012

NEW SOFIA SUBWAY LINE TO BE LAUNCHED IN MAY 2012
Source: novinite.com - (01/09/2011)

Topics: Infrastructure      

The subway line from the Mladost 3 district to the main thoroughfare of the Bulgarian capital Sofia – Tsarigradsko Shosse Boulevard will be open for use by May 2012. The news was announced Thursday by Mayor, Yordanka Fandakova, who said that simultaneously with the launch of the line, the buffer parking with 1 300 spots will also open. The line from Mladost 1 district through Mladost 3 district to Tsarigradsko Shose is going to be 2.6-km long and it is expected that it would greatly...


BULGARIAN PM BREAKS GROUND OF 2ND ROAD TO GREECE

BULGARIAN PM BREAKS GROUND OF 2ND ROAD TO GREECE
Source: novinite.com - (01/09/2011)

Topics: Infrastructure      Construction

Bulgaria's Prime Minister, Boyko Borisov, in the company of three members of his cabinet, broke ground Thursday of the second stage of the road to Greece through the Makaza mountain pass. The road segment is between Kardzhali and Podkova. It is 34-km-long of which 27 km are new construction and the rest are being rehabilitated. The road construction includes the building of 8 new bridges, one overpass, two underpasses, and 7 junctions. The investment amount is estimated at BGN 32 M...


BULGARIAN FINMIN: PRESIDENT IS CLUELESS ABOUT ECONOMY

BULGARIAN FINMIN: PRESIDENT IS CLUELESS ABOUT ECONOMY
Source: novinite.com - (01/09/2011)

Topics: Economy      

Bulgarian President, Georgi Parvanov, has shown many times that he is clueless when it comes to economy and his experts have no clue either. The statement was made Tuesday by Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, in the aftermath of Parvanov's televised words that Bulgarian retirees are paying the social price of the economic crisis. "I will have to visit the hometown of Pernik of our Communist President (Parvanov is the former leader of the Bulgarian...


BULGARIAN FINMIN REJECTS IDEA OF BUDGET 2011 UPDATE

BULGARIAN FINMIN REJECTS IDEA OF BUDGET 2011 UPDATE
Source: novinite.com - (31/08/2011)

Topics: Economy      

The State budget will not in any way need to be updated, Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, declared Wednesday. In an interview for the Bulgarian National Radio, BNR, Djankov said there is enough money in the budget and this is not the right moment to make updates at the time when most of the finances of European countries are shacking. The Minister's comments came on the heels of reports that during the regular meeting of the cabinet last week, Prime...


AVERAGE BULGARIAN HOUSEHOLD'S INCOME UP 4% Q2 2011 Y/Y

AVERAGE BULGARIAN HOUSEHOLD'S INCOME UP 4% Q2 2011 Y/Y
Source: novinite.com - (31/08/2011)

Topics: Economy      

The average quarterly total income per household member during the second quarter of 2011 was BGN 940. This is 3.8% more compared to the same quarter of 2010. The data was released Wednesday by the Bulgarian National Statistics Institute, NSI. The main part of this income (82.5%) came from wages, salaries and pensions with wages and salaries continuing to be the main source of household income. During the second quarter of 2011 they were BGN 494 per capita or by 8.4% more compared...


RUSSIA'S STATE BANK VTB APPROVED AS BUYER OF BULGARIA TOBACCO MONOPOLY

RUSSIA'S STATE BANK VTB APPROVED AS BUYER OF BULGARIA TOBACCO MONOPOLY
Source: novinite.com - (31/08/2011)

Topics: Economy      

The Governing Board of Bulgaria's Privatization Agency approved Wednesday the sale of the State-owned tobacco monopoly Bulgartabac Holding to the Austria-registered BT Invest, owned by Russian state bank VTB. On Monday, the buyer offered EUR 101.1 M for the Holding. The offer further binds the Austrian-registered company to buy 5 000 metric tons of Bulgarian tobacco a year in the next 5 years. The company has also slated BGN 7 M in its investment program for 2012 and 2013. The contract...


NEW ROADS TO LINK BULGARIA'S RUSE TO SOFIA-VARNA HIGHWAY BY 2020

NEW ROADS TO LINK BULGARIA'S RUSE TO SOFIA-VARNA HIGHWAY BY 2020
Source: novinite.com - (31/08/2011)

Topics:       

Two brand new "high-speed" roads will link the Bulgarian Danube city of Ruse with the future Hemus Highway connecting Sofia and Varna through Northern Bulgaria, Ruse's District Governor Plamen Stoilov announced. Stoilov gave a report Wednesday on his activities in his first two years in office. Back in July 2011, Bulgaria's Road Infrastructure Agency formally said several of the so called "high-speed roads" would be added to the list of highways under construction as priority...


BULGARIAN GOVT: ECONOMY RECOVERS, STATE FINANCES STABILIZE IN H1 2011

BULGARIAN GOVT: ECONOMY RECOVERS, STATE FINANCES STABILIZE IN H1 2011
Source: novinite.com - (31/08/2011)

Topics: Economy      

Bulgaria's Cabinet has adopted the report for the consolidated state fiscal program for the first half of 2011, stressing the stabilization of the country's macroeconomic indicators. "The stabilization and gradual recovery of the Bulgarian economy which started in the second half of 2010 are continuing in the first half of this year," the announcement of the Borisov Cabinet. It contains latest data from the Finance Ministry showing that in the first quarter Bulgaria's economy grew by 3.4%...


BULGARIAN ENERGY WATCHDOG: POWER UTILITIES MIGHT BE RESTRUCTURED

BULGARIAN ENERGY WATCHDOG: POWER UTILITIES MIGHT BE RESTRUCTURED
Source: novinite.com - (30/08/2011)

Topics: Economy      

Electrical power utilities operating in Bulgaria might need to go through a restructuring, according to Angel Semerdzhiev, the head of the Bulgarian state energy regulator. Discussions for restructuring aim at a complete transparency of the three companies' costs for external services such as consulting, said Semerdzhiev. End of 2010, the State Commission for Energy and Water Regulation, fined CEZ, E.ON and EVN with penalties totaling close to BGN 3 M for violations of outsourcing...


BULGARIA TO START BUILDING LONG-AWAITED SECTION OF DANUBE-AEGEAN ROAD

BULGARIA TO START BUILDING LONG-AWAITED SECTION OF DANUBE-AEGEAN ROAD
Source: novinite.com - (30/08/2011)

Topics: Infrastructure      Construction

Bulgaria's government will launch September 1, 2011, the long-anticipated construction of a key section of the road from the Danube city of Ruse on the Romanian border to the Makaza Pass on the Greece border. The section in question is the road between the southern Bulgarian city of Kardzhali in the Eastern Rhodope Mountain, and the village of Podkova, which is located just 15 km north of the Makaza Pass on the Bulgarian-Greek border, at an altitude of 331 m, in the Kirkovo...


BULGARIAN BLACK SEA RESORT ALBENA SEES 6% MORE TOURISTS IN 2011

BULGARIAN BLACK SEA RESORT ALBENA SEES 6% MORE TOURISTS IN 2011
Source: novinite.com - (29/08/2011)

Topics: Business      Waste Management

One of the top Bulgarian Black Sea resorts, Albena, has seen an increase of 6% in the number of tourists during the 2011 summer season, year-on-year, a company representative said. The revenue will also be up but its increase will be smaller than the increase in the tourist numbers because of the cheaper offers in June, Albena's deputy marketing head Yovka Strashilova told BTA. In her words, the greatest increase in terms of foreign tourist numbers by source country came from Germany with...


ALPHA BANK, EUROBANK EFG MERGER CREATES BIGGEST BANK IN GREECE, 3RD BIGGEST IN BULGARIA

ALPHA BANK, EUROBANK EFG MERGER CREATES BIGGEST BANK IN GREECE, 3RD BIGGEST IN BULGARIA
Source: novinite.com - (29/08/2011)

Topics: Economy      

Two of Greece's major banks – Alpha Bank and Eurobank EFG – have formally announced their planned merger, which will create the largest bank in Greece, and the third largest bank in Bulgaria. "The Boards of Directors of Alpha Bank and Eurobank EFG announce that they have reached agreement on a combination of Alpha Bank and Eurobank EFG by way of a merger," the two banks said in a joint statement Monday, adding, "Consolidation of two highly complementary private sector banks with substantial...


BULGARIAN GOVT PLANS TO PRIVATIZE STATE RAILWAY FREIGHT SERVICE

BULGARIAN GOVT PLANS TO PRIVATIZE STATE RAILWAY FREIGHT SERVICE
Source: novinite.com - (28/08/2011)

Topics: Economy      

Bulgaria's Cabinet could complete the privatization of the "Freight Services" unit of state railways operator BDZ Holding within six months, according to Transport Minister Ivaylo Moskovski. Moskovski told BNR Sunday that the plan for reforms of the vastly troubled state railway company coordinated with the World Bank called for the splitting of BDZ "Passenger Services" from BDZ "Freight Services." "The privatization of the freight railway services unit itself will be carried out by the...


BULGARIA'S 2011 INCOME FROM FOREIGN TOURISTS TO REACH EUR 2.7 B

BULGARIA'S 2011 INCOME FROM FOREIGN TOURISTS TO REACH EUR 2.7 B
Source: novinite.com - (28/08/2011)

Topics: Business      Tourism

Bulgaria's total 2011 income from foreign tourists will reach EUR 2,7 B, according to estimates from the National Tourism Board, an NGO. Thus, in 2011, Bulgaria's income from foreign tourists will grow by 4.5%, while the total number of foreign tourists who visited the country will be 14% greater. Earlier estimates put their total number at over 6 million. At the same time, the total income from Bulgarian tourists will reach BGN 1.5 B, or about EUR 770 M, the Board has estimated, as cited...


LUKOIL BULGARIA CEO FIRM IN REBUFFING TAX VIOLATIONS CLAIMS

LUKOIL BULGARIA CEO FIRM IN REBUFFING TAX VIOLATIONS CLAIMS
Source: novinite.com - (27/08/2011)

Topics: Economy      

The CEO of Lukoil Bulgaria, Valentin Zlatev, remains unwavering the company has not committed any tax or Customs law violations. "Lukoil does not have even one citation for tax and Customs violations," Zlatev is quoted saying. He was adamant that Lukoil never stopped fulfilling the requirements of Order 3 for the installment of electronic measuring devices to be connected to the National Revenue Agency, NRA, and the Customs Agency. Zlatev made the statement during a press conference in...


BULGARIA RANKED 1ST IN EUROPE BY LOW CONSTRUCTION COST

BULGARIA RANKED 1ST IN EUROPE BY LOW CONSTRUCTION COST
Source: novinite.com - (27/08/2011)

Topics: Real Estate      Real Estate

Building construction in Bulgaria is the cheapest in Europe, according to a comparative analysis of the EC Harris company, specializing in construction consulting. The Bulgarian Trud (Labor) daily writes Saturday, citing the analysis, that expenses for construction in Bulgaria are anywhere between 38% and 66% from those in Southeastern UK, which was used as basis. The study takes into account the price of construction material and labor expenses. Values in Bulgaria vary since buildings...



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All News Pieces: 1385



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