After a period of relatively low activity, the Bulgarian capital Sofia is seeing signs of recovery in the office market, according to a survey by Colliers International.
The net absorption for the first half of 2010 has marked a 27% increase compared to the previous six months, the most active companies being mainly from the telecom, outsourcing and IT sectors, shows data of Colliers International.
The vacancy level has reached 21% of the total stock and was higher in Class A than Class B...
The passengers traffic at the Bulgarian Sofia Airport increased by 9,6% in September, year-on-year, reaching a total of 310,000 passengers, officials from the airport have announced.
The increase of international flights passengers was 13%, while the growth of people attending internal flights was 9%.
The total number of arriving and departure flights in September was 4228, which is an 8,2% increase in comparison to the same month in 2009.
A growth by 11,1% was also registered in...
More than 400 businesspeople have given the start of Confindustria Balcani, the Balkan association of Italian companies, at a special ceremony in the Bulgarian capital Sofia.
The ceremony marked the first session ever of Confindustria Balcani, the union of Italian business associations in the Balkan countries, that took place in Sofia on Wednesday.
The brand-new federation brings together Italian entrepreneurs operating in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia,...
The town council of Bulgaria's Black Sea resort Nessebar has effectively saved its UNESCO-recognized Old Town from destruction over the construction of a dolphinarium.
The Nessebar Dolphinarium saga finally ended on Thursday, after the town councilors approved the settlement between the municipality and Festa Holding, a private company which planned to build a dolphinarium on the small Black Sea peninsula harboring the Old Town, an UNESCO World Heritage site.
In a special press statement,...
Russian energy giant Gazprom has practically renewed its threat to replace Bulgaria with Romania as the primary transit hub of the South Stream gas pipeline.
This view is expressed in an article of the Russian business newspaper RBK Daily entitled "Gazprom Threatens Bulgaria Again."
The paper points out that Wednesday's news of Gazprom signing a memorandum of mutual understanding with Romania's company Transgas are a clear sign that Russia could decide to go for picking Romania as a...
The Bulgarian Cabinet has approved draft amendments to extend by 6 months the legal deadline for the campaign to register anew all firms in the country.
Under the Commercial Register Act changes adopted in 2008, all active legal companies in Bulgaria are required to make new registration with the Registry Agency so that inactive and "ghost" firms can be eliminated from the entries.
Less than three months before the deadline about 285 000 firms renewed their registration, in addition to...
An agreement for the avoidance of double taxation between Bulgaria and Brazil is believed to boost the economic ties between the two countries.
This is the conclusion of a meeting of Bulgaria's Honorary Consul in Brazil Joao Vaz, and the Bulgarian Chamber of Commerce and Industry (BCCI).
An agreement for the encouragement and mutual protection of investments is also said to be very important, should the two countries want to expand their economic exchange.
The BCCI thinks Bulgaria's...
Bulgaria's Varna has hosted the first ever annual conference of the Federation of National Associations of Ship Brokers and Agents (FONASBA) to take place in the Black Sea region.
Over 80 ship brokers from 50 countries have come together for the 41st annual conference of FONASBA taking place in the Golden Sands resort near Varna October 11-15, 2010.
"The international ship transport sector is overcoming the crisis. Each day we say signs that the shipping industry is getting beyond the...
China has suggested to Bulgaria to increase the marketing and advertising of its goods in China, in order to boost the consumers' interest.
The suggestion was made Monday by Wan Jifei, the Chair of the China Council for the Promotion of International trade.
He is leading a Chinese delegation, which participates in a joint forum with Bulgarian companies, organized by the Bulgarian Chamber of Commerce and Industry (BTPP).
According to Jifei, Bulgarian producers should participate in...
In August, the construction production in Bulgaria is up in comparison to previous month, but is still down on annual basis, statistics show.
According to preliminary data from the National Statistics Institute (NSI), the production in the construction sector increased by 1,6% in August, in comparison to July.
However, the sector registered a decrease of 11,6%, year-on-year.
The August the volume of retail trade, except cars and motorcycles trade, dropped down by 0,3% from the previous...
The number of new cars sold on the Bulgarian in the first nine months of 2010 declined by almost 40% year-on-year.
According to the Association of Car Producers and Importers, a total of 13 189 new cars were sold in Bulgaria in January-September compared with 20 729 in the first three quarters of 2009.
Toyota was the most popular brand on the Bulgarian market of new cars in that period with 1 450 sales, followed by Ford 1 262, Volkswagen 1 172, Peugeot 1 032, Dacia 912, Citroen ...
The Bulgarian Chamber of Commerce and Industry (BCCI) has announced the organizing of a Bulgarian business delegation to the USA.
The delegation is expected to go to the US in the second or third week of November 2010.
The Bulgarian businessmen will be on a week-long visit to Cleveland, OH, and one more destination in the US to be selected from Chicago, IL, or Washington, DC.
The delegation is organized as part of the partnership between the BCCI and the Greater Cleveland Partnership,...
Most commercial real estate markets around the world, including Eastern Europe, have passed the bottom and are now on the rise, according to Colliers International Global Investor Sentiment Survey for the third quarter of this year.
A total of 90% of the survey participants said they planned to expand their current level of real estate holdings within a year or as a minimum maintain them at current levels.
The Global Property Clock equates market cycles to specific times, with 12 o'clock...
Romania's income from foreign tourism is four times smaller than Bulgaria's, Romanian newspaper Ziarul Financiar reports.
In 2009, Romania's revenues from tourism amounted to EUR 882 M, according to the Romanian Statistical Institute. In comparison, Bulgaria's income from foreign tourists was EUR 3.72 B, Hungary made EUR 5.63 B, the Czech Republic EUR 6.5 B, Croatia EUR 8.8 B.
The number of foreign tourists who visited Romania in 2009 is five times smaller than the number attracted by...
The Bulgarian government has formally approved a 5-year concession for oil and gas prospecting in a 400 sq.km. area in northeast Bulgaria for North American company Park Place Energy Corp.
Park Place Energy Corp. is registered in the US state of Nevada and based in Calgary and Vancouver, Canada. The area it won to study is said to be very promising.
The company specializes in the extraction of shale gas, a novel and still largely unexplored procedure to capture gas trapped in earth...
Russia's state power trader Inter RAO has been tipped as the most likely buyer of a majority stake in Bulgaria's Maritsa East 3 coal-fired power plant, controlled by Italy's Enel SpA, according to reports.
Inter RAO may be the leading candidate among five bidders interested in Maritza, Italian daily Il Messaggero reported, without citing sources.
According to the report Enel, advised by Deutsche Bank AG, aims to pocked EUR 600 M from the sale and talks are at advanced stage.
Greek merchants and businessmen are flocking to Bulgarian language classes, the Bulgarian National Radio, BNR, reports Saturday.
People from northern Greece are learning Bulgarian and the Cyrillic alphabet in a heated competition with hotel and restaurant owners in Bulgaria's southern resorts to attract more customers.
Bulgarian and Turkish language classes are the latest hit in the Greek border area where fluency in these languages and computer literacy are basic prerequisites for...
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...
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 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...