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

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...


BULGARIA'S BALCHIK BOASTS 30% MORE FOREIGN TOURISTS

BULGARIA'S BALCHIK BOASTS 30% MORE FOREIGN TOURISTS
Source: novinite.com - (26/09/2010)

Topics: Business      Tourism

Bulgaria's northern Black Sea resort welcomed 156 000 foreign tourists in May-August, 2010. This is a 30% increase year-on-year, according to data from the Balchik Municipality showing that the tourists visiting the town in the same period of 2009 were 122 000. The number of night stays in local hotels also grew substantially from 692 000 in the summer of 2009 to 952 000 this summer. The largest number of foreign visitors to Balchik came from Romania, followed by Russia, Germany,...


BULGARIAN SPA HOTEL RANKED AMONG WORLD'S BEST

BULGARIAN SPA HOTEL RANKED AMONG WORLD'S BEST
Source: novinite.com - (22/09/2010)

Topics: Business      Tourism

A Bulgarian hotel, the Grand Hotel & SPA Primoretz Burgas, has been placed among the world's 28 best spa hotels by a Germany-based not-for-profit international association. The European Audit Institute Wellness & SPA e.V., located in Bad Wildingen, Germany, has issued its "Wellness & Spa Europe Certificate" to the Primoretz Hotel. A total of 28 hotels worldwide, of which 10 in Europe, are holders of the Certificate. The Burgas spa hotel has managed to acquire a "Premium" quality...


TNT, SHELL, PHILIPS COME TOGETHER TO PROMOTE GREEN LIFE IN BULGARIA

TNT, SHELL, PHILIPS COME TOGETHER TO PROMOTE GREEN LIFE IN BULGARIA
Source: novinite.com - (22/09/2010)

Topics: Business      Renewable Energy

Three top global Dutch-based companies – TNT, Shell, and Philips – have presented their green initiatives in Sofia in order to promote environmental protection in Bulgaria. The event was dedicated to the world Sustainability Day and was part of the Week of the Netherlands 2010 organized under the patronage of the Embassy of the Kingdom of the Netherlands in Bulgaria. The visitors of the joint event of TNT, Shell and Philips at the Hilton Hotel in Sofia had the opportunities to learn in...


18 BULGARIAN COMPANIES MAKE IT TO TOP 500 IN CEE

18 BULGARIAN COMPANIES MAKE IT TO TOP 500 IN CEE
Source: novinite.com - (22/09/2010)

Topics: Business      

A total of 18 Bulgarian companies are ranked among the biggest 500 in Central and Eastern Europe, according to Coface's annual ranking. The most highly ranked Bulgarian entry, the Bulgarian refinery of Russian oil company Lukoil Neftochim has come in 35th on the list of the 500 largest companies in the region. Lukoil Bulgaria, which trades in the refinery output, is ranked 55th. The state owned Bulgarian National Electricity Company (NEK) is ranked 67th. Manufacturing company Aurubis is...


BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES

BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES
Source: novinite.com - (22/09/2010)

Topics: Business      

Bulgaria's Commission for Communications Regulation (KRS) mandated Monday the three mobile operators to reduce their wholesale prices for incoming international cell phone calls. Beginning April 1, 2011, the price will be BGN 0.13 a minute i.e. at the level of the national roaming calls. The changes relate to the price international telecoms must pay to M-Tel, Globul and Vivacom for calls in their networks and would not be felt by the consumers. The KRS economic analysis has shown the...


BULGARIA SAID TO OFFER BEST-VALUE SUMMER TOURISM PACKAGES IN EU

BULGARIA SAID TO OFFER BEST-VALUE SUMMER TOURISM PACKAGES IN EU
Source: novinite.com - (22/09/2010)

Topics: Business      Tourism

Bulgaria offers the best prices for vacations in the EU this summer, according to Blagoy Ragin, head of the Bulgarian Association of Restaurant and Hotel Owners. The Bulgarian tourist business expects at least 10% more foreign tourists in 2011 compared with 2010, Ragin told the Cross news agency. The head of the Restaurant and Hotel Owners' Association stressed that Bulgaria's tourist sector is looking forward to the completion of the Trakiya Highway (expected in 2012) – connecting Sofia...


CATERPILLAR TO OPEN COMMERCIAL OFFICE IN BULGARIA

CATERPILLAR TO OPEN COMMERCIAL OFFICE IN BULGARIA
Source: novinite.com - (19/09/2010)

Topics: Business      Construction

One of the world's largest manufacturers of construction and mining equipment, engines and turbines, the US company Caterpillar, is going to open a trading office in Bulgaria. This has been agreed during a meeting between Bulgarian Economy Minister Traicho Traikov and two of the Vice Presidents of Caterpillar, Tana Utley and Gregory Folly. Traikov, who is on a several-day visit to Canada and the United States, has had a busy schedule. His meeting with the Caterpillar managers focused...


ECONOMY MINISTER LURES BOEING, MOTOROLA TO BULGARIA

ECONOMY MINISTER LURES BOEING, MOTOROLA TO BULGARIA
Source: novinite.com - (19/09/2010)

Topics: Business      

Bulgaria's Economy Minister, Traicho Traikov, has had important meetings in the USA including with Boeing, Motorola, and the Federal Reserve Bank of Chicago Bank among others. During talks with Boeing's top management, Traikov, who is on a several-day visit to the United States, invited the company to research opportunities for outsourcing in Bulgaria, and for taking part in the privatization of VMZ Sopot, a currently ailing military manufacturing plant which used to be one of Bulgaria's...


SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010

SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010
Source: novinite.com - (18/09/2010)

Topics: Business      Real Estate

The vacancy rate of office space in Sofia is expected to rise up to 26-27% by the end of the year with the opening of new buildings, real estate consultancy Regent's Property Advisors forecasts. Adding a significant amount of new offices to the market, the vacancy rate during the first half of the year reached levels of 22% of total stock, equaling to 253,000 sqm, data of the company shows. The largest share of the empty offices still remains in the suburban areas of the city, but the...


BULGARIA MUSHROOMING MALLS TOP EU LIST

BULGARIA MUSHROOMING MALLS TOP EU LIST
Source: novinite.com - (16/09/2010)

Topics: Business      

Bulgaria ranked first in the European Union in the number of new shopping malls in the first half of the 2010, a report by Cushman and Wakefield consultancy showed. While in most EU member-states the number of malls is on the slide due to the global economic crisis, their construction has accelerated in Bulgaria, marking a nearly 90% increase over one year. A similar trend is also witnessed in other Balkan states - Bosnia&Herzegovina, Romania, Slovenia, Serbia and Croatia - but the growth...


BULGARIAN TEXTILE INDUSTRY UP BY 18-22% FOR 2 MONTHS

BULGARIAN TEXTILE INDUSTRY UP BY 18-22% FOR 2 MONTHS
Source: novinite.com - (16/09/2010)

Topics: Business      Textile

Representatives of the Bulgarian textile industry have stated they have been overwhelmed with orders and they had to turn down some of them due to lack of capacity. The Bulgarian Association of Apparel and Textile Producers and Exporters has forecast a strong season and is expecting revenues, comparable to those of 2008, the Bulgarian National Radio has reported. The VP of the Association, Bertram Rollmann, has stated that the orders in the sector increased by 18-22% for the past two...


RUSSIA'S URAL AIRLINES TO LAUNCH YEKATERINBURG-SOFIA ROUTE

RUSSIA'S URAL AIRLINES TO LAUNCH YEKATERINBURG-SOFIA ROUTE
Source: novinite.com - (15/09/2010)

Topics: Business      

The Russian Ural Airlines has announced it will start executing weekly flights from Yekaterinburg to Sofia from October 1, the Russian news agency ITAR-TASS reported. The Bulgarian Council in the Russian city of Yekaterinburg, Plamen Petkov, has announced that the launch of the route Yekaterinburg-Sofia had a connection with the fact that the number of visas issued by the Bulgarian Embassy from the beginning of the year has increased by 60%. "This is mainly due to the increased tourist...


BULGARIA'S M-TEL ACQUIRES 2 INTERNET COMPANIES

BULGARIA'S M-TEL ACQUIRES 2 INTERNET COMPANIES
Source: novinite.com - (15/09/2010)

Topics: Business      Software and Information Technology

The leading Bulgarian operator Mobiltel has signed pre-arrangements for the acquisition of two Bulgarian cable operators, Megalan Network and Spectrum Net. The price of the merger is about EUR 70 M. The deal is expected to be finalized after approval by the Competition Protection Commission. 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 for a period of about 18 months. "This is...


CLEVES ACQUIRES MAJOR NEW LUXURY APARTMENT PROJECT IN SOFIA

CLEVES ACQUIRES MAJOR NEW LUXURY APARTMENT PROJECT IN SOFIA
Source: novinite.com - (14/09/2010)

Topics: Business      Real Estate

Cleves, the luxury Sofia apartment rental company, has acquired an outstanding new building in the Iztok borough of Sofia with 34 apartments and a Class A suite of offices. The building is part of the Este Home and Spa project developed by Este Properties EOOD. The Cleves deal is valued at EUR 10 M. This is the company's fifth acquisition in Sofia. Cleves already has a Sofia rental portfolio of 57 apartments. Cleves Este – as it will be known – is at 28G Samokov Blvd, Iztok. Newly...


D-LINK TO LAUNCH INTERNET TV BOX IN BULGARIA IN NOVEMBER

D-LINK TO LAUNCH INTERNET TV BOX IN BULGARIA IN NOVEMBER
Source: novinite.com - (14/09/2010)

Topics: Business      Software and Information Technology

Taiwanese hardware maker D-Link announced it has decided to go for an international launch of its Internet TV box in a number of countries, including Bulgaria. Boxee Box allows customers to play what they normally watch on the computer on their TV, tailor the Internet experience to a huge flat screen, do it in full HD, 1080p with 5.1 surround whenever possible, share the stuff with friends and use a simple remote rather than a keyboard and mouse. D-Link said that the Intel based hardware...


EVN STARTS CONSTRUCTION OF NEW ELECTRIC, HEATING PLANT IN BULGARIA

EVN STARTS CONSTRUCTION OF NEW ELECTRIC, HEATING PLANT IN BULGARIA
Source: novinite.com - (13/09/2010)

Topics: Business      

Bulgaria's Prime Minister Boyko Borissov and Lower Austria Chancellor Erwin Proell broke ground Monday for a new co-generation facility in Plovdiv, Southern Bulgaria. The new electric and heating power plant will be constructed by Bulgaria's Austrian-owned power utility EVN EVN Bulgaria near the Plovdiv North Heating Plant. "Bulgaria has to take full advantage of the fact that it is situated on international crossroads to attract investments in infrastructure," stated Borisov...


CHINESE CAR PLANT IN BULGARIA TO ROLL OFF FIRST VEHICLES 2011

CHINESE CAR PLANT IN BULGARIA TO ROLL OFF FIRST VEHICLES 2011
Source: novinite.com - (13/09/2010)

Topics: Business      Automotive

China's vehicle maker, Great Wall Motor Co and Bulgaria's Litex Motors will start production in the plant in the town of Lovech, Northern Bulgaria, in 2011, Litex Motors said. Great Wall Motor Company, one of China's biggest automotive manufacturers, signed a joint venture (JV) deal with Bulgarian diversified holding company Litex Commerce in the presence of Chinese Vice President Xi Jinping and Bulgarian Prime Minister Boyko Borisov on October 15. The plant will have an annual production...


CHINA TYCOON 'EYES' DEAL WITH OGER FOR BULGARIA'S VIVACOM

CHINA TYCOON 'EYES' DEAL WITH OGER FOR BULGARIA'S VIVACOM
Source: novinite.com - (13/09/2010)

Topics: Business      Software and Information Technology

Chinese telecoms and media tycoon Richard Li is considering a deal with Dubai-based Oger Telecom as he tries to retain control of Bulgaria's top fixed-line operator Vivacom, according to reports. Li and Oger have been in a battle over Vivacom for the last few months after it was put for sale by US insurance giant AIG. Chinese billionaire Richard Li, who controls Bulgaria's Vivacom, was ready to invest in the latter in a bid to restructure its debt. PCCW and its chairman's privately-owned...


14 BULGARIAN COMPANIES MAKE IT TO DELOITTE CEE TOP 500 LIST

14 BULGARIAN COMPANIES MAKE IT TO DELOITTE CEE TOP 500 LIST
Source: novinite.com - (10/09/2010)

Topics: Business      

The Bulgarian refinery of Russian oil company Lukoil has come in 47th on the list of 500 largest companies from Central Europe compiled by auditing firm Deloitte. Lukoil Neftochim Burgas leapfrogged Lukoil Bulgaria, which trades in the refinery output, state power utility NEK and Aurubis Bulgaria, the Bulgarian subsidiary of Europe's largest copper smelter Aurubis, which ranked 77, 85 and 139 respectively. There are altogether 14 Bulgarian firms on the Deloitte CEE Top 500 list, including...



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