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Invest Bulgaria News Directory
Bulgarian Business News
(362 Bulgarian Business News Stories Found)

BULGARIAN ECONOMY PERFORMS BETTER THAN EXPECTED IN 2010 Q3

BULGARIAN ECONOMY PERFORMS BETTER THAN EXPECTED IN 2010 Q3
Source: novinite.com - (09/12/2010)

Topics: Business      

Bulgaria's economy registered slightly better results in the third quarter of 2010 that the initial data sets of the National Statistical Institute (NSI) indicated last month. Thus, final NSI data showed on Thursday that in the third quarter Bulgaria's GDP grew by 0.7% compared with the second quarter, and by 0.5% compared with the same quarter of 2009. (The initial forecasts were for 0.3% and 0.2% respectively.) In July-September 2010, Bulgaria's GDP amounted to BGN 19.4 B (BGN 2 581.2...


GREEKS INCREASE INTEREST IN BULGARIAN BUSINESSES

GREEKS INCREASE INTEREST IN BULGARIAN BUSINESSES
Source: novinite.com - (09/12/2010)

Topics: Business      

The regional office of the real estate company "Foros" in the southwestern Bulgarian city of Blagoevgrad has registered an increased interest by Greek clients in the last few months of 2010. "In the last months we have more than five request per month. Before, we had one client every three months," said Georgi Georgiev, manager of the Blagoevgrad office of Foros. He said that the interest comes mostly from Greek businessmen, aged 30 to 50, who already have or want to start their own...


BULGARIAN CABINET EXTENDS DEADLINE FOR DISCOUNTED ARREARS

BULGARIAN CABINET EXTENDS DEADLINE FOR DISCOUNTED ARREARS
Source: novinite.com - (08/12/2010)

Topics: Business      

The Bulgarian government voted Wednesday an extension of the deadline the state has to refund discounted arrears to businesses to December 17, amidst an ever-growing amount of state dues to the private sector. The previous deadline was set for November 30, but the Bulgarian Development Bank managed to pay just BGN 237 M out of BGN 289 M total of claims. In the spring of 2010, the center-right GERB cabinet adopted a decision proposing to companies to receive their arrears for 2009 and 2010...


EVN TO SIGN CONTRACT FOR BULGARIAN HYDRO POWER PLANT IN 2011 Q1

EVN TO SIGN CONTRACT FOR BULGARIAN HYDRO POWER PLANT IN 2011 Q1
Source: novinite.com - (08/12/2010)

Topics: Business      

Austrian company EVN is expected to purchase a 70% stake in the Bulgarian hydro power plant project "Gorna Arda" from Turkish company Ceylan in the first quarter of 2011. This has been announced by Joerg Solgelner, Regional Manager of EVN Bulgaria, as cited by the Pari Daily. EVN and Ceylan are currently in negotiations for the buyout. According to Solgelner, there are still important questions with respect to the Gorda Arda ("Upper Arda") project that have to be settled before a contract...


REZIDOR OPENS FIRST PARK INN HOTEL IN BULGARIA, NO 100 IN CHAIN

REZIDOR OPENS FIRST PARK INN HOTEL IN BULGARIA, NO 100 IN CHAIN
Source: novinite.com - (08/12/2010)

Topics: Business      

The Rezidor Hotel Group officially launched Tuesday evening Park Inn Sofia, the very first Park Inn property in Bulgaria, which happened to be the hundredth in the chain. "Eastern Europe is an important development region for Park Inn by Radisson, and we look forward to positioning Park Inn Sofia on the market and to actively search for further business opportunities in Bulgaria," Rezidor's Area Vice President J?rg Schiffmann told journalists from local media after giving them a...


BULGARIA REDIRECTS ALL TRAFFIC TO GREECE THROUGH SECONDARY ROUTE

BULGARIA REDIRECTS ALL TRAFFIC TO GREECE THROUGH SECONDARY ROUTE
Source: novinite.com - (07/12/2010)

Topics: Business      

Bulgaria's Interior Ministry has urged all drivers to use the Ilinden-Exochi crossing when traveling to and from Greece after the rising Struma River damaged the E-79, the main road connecting the two countries. The torrential rains in Southwest Bulgaria over the weekend led the Struma River to rise by five meters in the Kresna Gorge, some 120 km south of Sofia, causing a landslide that undermined the road, which collapsed into the river; a truck with its driver bringing gravel for the...


BULGARIA, MOROCCO INK INDUSTRIAL COOPERATION AGREEMENT

BULGARIA, MOROCCO INK INDUSTRIAL COOPERATION AGREEMENT
Source: novinite.com - (07/12/2010)

Topics: Business      

Morocco and Bulgaria signed an agreement aimed at strengthening bilateral industrial cooperation at the institutional level and in terms of research and innovation Monday. According to this agreement, the two countries will encourage industrial cooperation initiatives by promoting cooperation between productive sectors. They also undertake to promote joint projects in the area of innovation, industrial research and transfer of technology. On Monday, Bulgaria's Parliamentary Speaker...


BULGARIA, CHINA INK MEMORANDUM ON HIGH-SPEED RAILWAY

BULGARIA, CHINA INK MEMORANDUM ON HIGH-SPEED RAILWAY
Source: novinite.com - (07/12/2010)

Topics: Business      

Bulgaria's Transport Minister Alexander Tsvetkov and China's Minister of Railways Liu Zhijun have signed a memorandum for bilateral cooperation in railway transport. The document was signed Tuesday in the presence of Zhang Dejiang, Vice-Premier of the People's Republic of China, right before the opening of the 7th World Congress on High Speed Rail. The memorandum defines the spheres of cooperation, which include the transit through Bulgaria on Eurasian transport corridors, modernization...


BULGARIA GOVT FIRST PRIVATIZATION EFFORT KICKS OFF DEC 14

BULGARIA GOVT FIRST PRIVATIZATION EFFORT KICKS OFF DEC 14
Source: novinite.com - (07/12/2010)

Topics: Business      

The privatization tender, through which the state will seek to boost public revenues by some BGN 80 M, will take place 14-27 December, the Sofia stock exchange announced. The government will offer for privatization through the Sofia stock exchange a package of small state companies or stakes in such firms as part of its efforts to rake in revenues. This will be the first attempt at privatization for the center-right government of Boyko Borisov since the beginning of its term last...


PM: EU FUNDING FOR STRUMA HIGHWAY TO HELP AGAINST FLOODS

PM: EU FUNDING FOR STRUMA HIGHWAY TO HELP AGAINST FLOODS
Source: novinite.com - (06/12/2010)

Topics: Business      

The construction of the Struma Highway will solve the problem with floods along the Struma River in Southwest Bulgaria, Prime Minister Boyko Borisov said. Commenting on the floods caused over the weekend by the rising of the Struma River, which springs from the Vitosha Mountain near Sofia and flows through Southwest Bulgaria and Northern Greece into the Aegean Sea, Borisov declared the resolve of his Cabinet to reinvigorate the efforts to construct the Struma Highway, at the same time...


BULGARIAN PHARMACEUTICAL GIANT SOPHARMA INVESTS BGN 70 M IN NEW FACTORY

BULGARIAN PHARMACEUTICAL GIANT SOPHARMA INVESTS BGN 70 M IN NEW FACTORY
Source: novinite.com - (06/12/2010)

Topics: Business      

One of the largest Bulgarian pharmaceutical companies, Sopharma, has announced a massive investment into a new production plant. On December 9, 2010, the company will break the ground for its new factory, in which it will invest BGN 70 M. The new facility will be producing up to 4 billion pills per year of over 100 different types of medicines, and will employ 420 people once it is completed. The CEO of Sopharma Ognyan Donev will break the ground for the construction together with...


SOFIA INTERNATIONAL AIRPORT EXPECTS BGN 14 M PROFIT IN 2010

SOFIA INTERNATIONAL AIRPORT EXPECTS BGN 14 M PROFIT IN 2010
Source: novinite.com - (06/12/2010)

Topics: Business      

Sofia Airport, the largest of Bulgaria's four international airports, expects to end 2010 with a net profit of BGN 14 M, according to its Operations Director Nikolay Kabakchiev. The number of passengers that the airport served in 2010 is expected to be 6% larger than in 2009, Kabakchiev told BTA in an interview. He has pointed out that in November 2010, Sofia Airport introduced its first four online check-in terminals. The airport will move to make all payments for parking services at...


EBRD PROVIDES EUR 150 M CREDIT LINE TO NBG BULGARIAN BRANCH

EBRD PROVIDES EUR 150 M CREDIT LINE TO NBG BULGARIAN BRANCH
Source: novinite.com - (06/12/2010)

Topics: Business      

The European Bank for Reconstruction and Development has provided a credit line of EUR 150 M to the United Bulgarian Bank, a subsidiary of the National Bank of Greece. The credit line is intended to boost crediting for the business sector; the Romanian and Serbian subsidiaries of the National Bank of Greece – Banca Romaneasca and Vojvodjanska Banka. Each of them is getting a credit line of EUR 100 M from the EBRD. "The support for the banks and the real economy in Bulgaria, Romania, and...


SOFIA AIRPORT REGISTERS 6% PASSENGER INCREASE

SOFIA AIRPORT REGISTERS 6% PASSENGER INCREASE
Source: novinite.com - (06/12/2010)

Topics: Business      

The airport of Bulgaria's capital Sofia has serviced 6% more passengers in 2010, compared to the previous year, according to the airport Director, Nikolay Kabakchiev. The number of serviced airplanes in 2010 has reached 47 000 – up 3% compared to 2009. 3 324 000 passengers have used the airport this year. Kabakchiev further explained the airport management is applying all possible legal measures to solve the problem with taxi cabs whose drivers cheat customers by charging them too much...


EBRD, UNICREDIT BULBANK SUPPORT BULGARIA'S CHELOPECH MINE

EBRD, UNICREDIT BULBANK SUPPORT BULGARIA'S CHELOPECH MINE
Source: novinite.com - (05/12/2010)

Topics: Business      

The EBRD and UniCredit Bulbank announced they will support a modernisation programme and energy efficiency improvements at Bulgaria's Chelopech mine, the largest gold deposit in Europe that is still in production. The two institutions are providing a loan of USD 66.75 M to the mine operator Chelopech Mining EAD, a wholly-owned subsidiary of Canada's Dundee Precious Metals Inc. Chelopech Mining produces copper-gold-silver concentrate at its mining facilities located approximately 70...


HEIRS EYE SHARES IN BULGARIA'S KAMENITZA BREWERY AFTER WIN IN STRASBOURG

HEIRS EYE SHARES IN BULGARIA'S KAMENITZA BREWERY AFTER WIN IN STRASBOURG
Source: novinite.com - (05/12/2010)

Topics: Business      

The European Court of Human Rights has ruled in favor of three Bulgarian nationals, who brought a case against Bulgaria, claiming to be successors to shareholders of a brewery in Plovdiv, which was nationalized in 1947. After eighteen years of court battles, the heirs to shareholders in Bulgaria's earliest commercial brewery "Kamenitza - Frick and Sulzer" enjoy every chance to obtain shares in Kamenitza AD since the Strasbourg court ruling allows them to go to law over the number of shares...


NORWAY'S BERGEN CONSIDERS BULGARIA'S NORTHWEST FOR INVESTMENTS

NORWAY'S BERGEN CONSIDERS BULGARIA'S NORTHWEST FOR INVESTMENTS
Source: novinite.com - (03/12/2010)

Topics: Business      

A delegation from Bulgaria's Northwest, the poorest EU region, has participated in a specially designed investment forum in Bergen, Norway. The delegation of representatives of local authorities from the "Severozapaden" Region in Bulgaria, including the District Governor of Vidin Plamen Stefanov, and the mayors of the town of Belogradchik and several villages, has met with the Bergen Mayor Gunnar Bakke. It also took part in an investment forum in Bergen entitled "Bulgaria – New Region for...


BULGARIA TO INK DEAL WITH TURKEY, CHINA FOR HIGH-SPEED RAILWAY

BULGARIA TO INK DEAL WITH TURKEY, CHINA FOR HIGH-SPEED RAILWAY
Source: novinite.com - (03/12/2010)

Topics: Business      

Bulgaria will very soon sign an agreement with Turkey and China on the construction of a high-speed railway, which will utilize the transport of Chinese goods to the EU. This was announced by Bulgaria's Transport Minister Alexander Tsvetkov on the Bulgarian National Television Friday. He explained that the freight trains will have a maximum speed of 250 km/h. "We will sign a trilateral agreement with Turkey and China, according to which the cargo will pass through the future Bosforus...


PROFIT OF BULGARIAN PORT BURGAS MEAGER BUT RISING

PROFIT OF BULGARIAN PORT BURGAS MEAGER BUT RISING
Source: novinite.com - (02/12/2010)

Topics: Business      

One of Bulgaria's two major Black Sea ports, Port Burgas, expects to end 2010 with a profit of BGN 2 M. This would mean an increase of profit by 203% compared with 2009, the port management announced as cited by the Dnevnik daily. Most of the cargo shipments going through Port Burgas consist of grain, raw materials, scarp, lumber, and equipment and parts of renewable energy plants. In the recent months, the port started to process again liquid shipments of chemical substances after the...


BULGARIA'S WATCHDOG OKS M-TEL ACQUISITION OF 2 MAJOR ISPS

BULGARIA'S WATCHDOG OKS M-TEL ACQUISITION OF 2 MAJOR ISPS
Source: novinite.com - (02/12/2010)

Topics: Business      

The Bulgarian Competition Protection Commission (CPC) has given the green light to the acquisition of leading Bulgarian internet service providers, Megalan Network and Spectrum Net, by M-Tel, the first and biggest mobile operator in the country. The price of the deal, which was announced in the middle of September, is about EUR 70 M. M-Tel, which is part of Telecom Austria Group, will acquire 100% of the two Internet providers. However, both companies will continue to work independently...



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