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Invest Bulgaria News Directory

(1394 Stories Found)

BULGARIA OPENS BIDS FOR STRUMA HIGHWAY LOT 1

BULGARIA OPENS BIDS FOR STRUMA HIGHWAY LOT 1
Source: novinite.com - (07/07/2011)

Topics: Infrastructure      Construction

The bids, which were submitted for a section of the future Struma Highway, connecting Sofia to the border with Greece, will be opened on Thursday, the road infrastructure agency announced. A record number of bidders – 19 – applied with offers to build Lot 1 of the Struma Highway – including companies from Bulgaria, Italy, Spain, Turkey, Germany, and Greece. Regional Development Minister Rosen Plevneliev told journalists a month ago that the builder of Lot 1 will be selected by August, and...


BULGARIA'S INDUSTRIAL SECTOR KEEPS GROWING

BULGARIA'S INDUSTRIAL SECTOR KEEPS GROWING
Source: novinite.com - (07/07/2011)

Topics: Economy      

Bulgaria's industrial production increased by 7.8% in May 2011 year-on-year, according to fresh data from the National Statistical Institute. Bulgaria's extraction industry grew by 20.8% in May 2011 compared with May of last year, while the energy sector grew by 12.7%, and the processing industry (manufacturing) – by 5.9%. Compared with April 2011, the industrial production in Bulgaria is down 0.5%. The decrease, however, is primarily due to a decline in the energy output by 6%, while the...


BULGARIA SETS UP MEGA-STRUCTURE FOR 3 NEGLECTED HIGHWAYS

BULGARIA SETS UP MEGA-STRUCTURE FOR 3 NEGLECTED HIGHWAYS
Source: novinite.com - (07/07/2011)

Topics: Infrastructure      

Bulgaria's Parliament has approved at second reading the founding of a State Company "Strategic Infrastructure Projects", a mega-structure to be in charge of the construction of three largely neglected highway projects. The new body created with adopted amendments to the Roads Act will seek to accelerate the construction of "strategic infrastructure projects", namely the Struma Highway (running from Sofia to the border with Greece; expected completion date - 2014), the Hemus Highway (running...


SISECAM TO INVEST USD 60 M MORE IN ITS GLASS PLANTS IN BULGARIA

SISECAM TO INVEST USD 60 M MORE IN ITS GLASS PLANTS IN BULGARIA
Source: novinite.com - (07/07/2011)

Topics: Investments      

Sisecam, Invest, USD, 60, M, More, Glass, Plants,Turkish industrial giant Sisecam is going to invest USD 60 M more in its production facility for household glass in Bulgaria's Targovishte through its subsidiary, Trakiya Glass Bulgaria. The new investment will expand the existing household glass production line launched in 2005, and will add a second production line in Sisecam's glass factories in Targovishte, which taken together are the largest glass plant in the Balkans. A total of 200...


BULGARIA SERIOUSLY BENT ON GIVING UP RUSSIAN GAS

BULGARIA SERIOUSLY BENT ON GIVING UP RUSSIAN GAS
Source: novinite.com - (07/07/2011)

Topics: Economy      

Bulgaria is making definite steps to achieve a fourfold reduction in the amount of natural gas it is buying from Russia, according to an extensive publication by Russian paper Kommersant. Looking at boosting its own gas production, but also at diversifying imports, Bulgaria hopes to achieve a reduction from the 2 B cubic meters of gas it buys from Russia per annum, to some 500 M cub.m in 2-3 years. Bulgarian Minister of Economy and Energy has already declared Bulgaria's intention to give...


GOVT TRIES TO ASSUAGE FEARS OVER BULGARIAN POSTS SALE

GOVT TRIES TO ASSUAGE FEARS OVER BULGARIAN POSTS SALE
Source: novinite.com - (06/07/2011)

Topics: Economy      

No final decision has been taken for the privatization of the postal service state-owned company "Bulgarian Posts EAD", the transport minister has said amid vehement protests from employees, trade unions and opposition leaders. "The company will be taken off the list of firms, whose privatization is banned, just so that we can have that option available as well," Minister Ivaylo Moskovski said. The amendments to the privatization law were tabled and adopted on the last day of June by the...


BULGARIA'S WINE EXPORT MARKETS SHIFT FROM WEST TO EAST IN 2011 Q1

BULGARIA'S WINE EXPORT MARKETS SHIFT FROM WEST TO EAST IN 2011 Q1
Source: novinite.com - (06/07/2011)

Topics: Business      Food and Beverage

Bulgaria's wine exports registered a 6.6% increase in the first quarter of 2011 year-on-year, according to the Bulgarian Executive Agency on Vine and Wine. In the first three months of 2011, Bulgaria exported a total of 10.375 million liters of wine, about 638 000 liters more than the 9.737 million liters in the first quarter of 2010. The data of the Executive Agency on Vine and Wine indicate a slight shift in Bulgaria's wine export markets from Western Europe to Russia and the...


BULGARIAN GOVT GRANTS 5 RAILWAY LINES 'NATIONAL SIGNIFICANCE' STATUS

BULGARIAN GOVT GRANTS 5 RAILWAY LINES 'NATIONAL SIGNIFICANCE' STATUS
Source: novinite.com - (06/07/2011)

Topics: Infrastructure      

Five railway lines, all of them going through Sofia, have been declared to be of "national significance" by the Bulgarian government. Three of the five railway lines in question are part of the so called Pan-European Transport Corridor No. 4 (from Central Europe to Greece and Turkey via Vidin and Sofia); namely, Sofia-Vidin (the port on the Danube in Northwestern Bulgaria), Sofia-Pernik-Radomir in Western Bulgaria and Radomir-Kulata (on the border with Greece). The other two priority...


SOCIETE GENERALE EXPRESSBANK GRAB'S BULGARIA'S '2010 BANK OF THE YEAR' PRIZE

SOCIETE GENERALE EXPRESSBANK GRAB'S BULGARIA'S '2010 BANK OF THE YEAR' PRIZE
Source: novinite.com - (06/07/2011)

Topics: Business      

Societe Generale Expressbank is the winner in this year's contest for Bulgaria's "Bank of the Year", the Bank of the Year Association has announced. Bulgaria's 14th annual Bank of the Year awards – first started in 1992 – were revealed at a news conference in Sofia on Wednesday in seven different categories, including the big "Bank of the Year" prize snatched by Societe Generale Expressbank. UniCredit Bulbank, which landed the big prize last year, is now the winner in the "Client's Bank"...


BULGARIAN GOVT MOVES TO SET UP NEW BLACK SEA RESORTS AIRPORT NEAR BALCHIK

BULGARIAN GOVT MOVES TO SET UP NEW BLACK SEA RESORTS AIRPORT NEAR BALCHIK
Source: novinite.com - (06/07/2011)

Topics: Infrastructure      Tourism

Bulgaria's Cabinet has voted to turn the defunct military airport near the Black Sea town of Balchik into an active civilian airport serving the nearby sea resorts. The Borisov government decided Wednesday to transfer the ownership of the Balchik Airport from the Defense Ministry to the Transport Ministry, acting in accordance that Prime Minister Boyko Borisov made in a nearby town, Kavarna, in early June 2011. The Balchik Airport is located very close to the top resorts on Bulgaria's...


BNB GOVERNOR CONFIDENT ABOUT BULGARIAN ECONOMY, BANKING SYSTEM

BNB GOVERNOR CONFIDENT ABOUT BULGARIAN ECONOMY, BANKING SYSTEM
Source: novinite.com - (06/07/2011)

Topics: Financial      

Bulgarian National Bank Governor Ivan Iskrov has expressed confidence about the stability of Bulgaria's banking system and the prospects for Bulgaria's economy despite the sovereign debt crisis in Greece. Speaking at a round table taking place on the sidelines of the "Bank of the Year" ceremony, he emphasized that Bulgaria's capital adequacy stood at 15.36%, or three times over the EU minimum requirements. According to Iskrov, Bulgaria's banking system includes no bad banks, which means...


NEW CEO OF BULGARIAN STATE RAILWAYS BDZ OVERWHELMED, OVERAMBITIOUS

NEW CEO OF BULGARIAN STATE RAILWAYS BDZ OVERWHELMED, OVERAMBITIOUS
Source: novinite.com - (06/07/2011)

Topics: Economy      

The newly-appointed CEO of the vastly-troubled Bulgarian State Railways BDZ Yordan Nedev has declared his intention to break even in 2012, not in 2014, as his predecessor intended. Nedev, a financier who was appointed to replace Pencho Popov as CEO of the state-owned BDZ Holding in a surprise move by new Transport Minister Ivaylo Moskovski, spoke for the first time in public at a round table on the reforms in BDZ in Sofia on Wednesday. "I feel as if I am at war," Nedev stated. "We are...


BULGARIAN ANTITRUST WATCHDOG SLAPS FINES OVER MARITSA EAST 2 TPP ECO UPGRADE

BULGARIAN ANTITRUST WATCHDOG SLAPS FINES OVER MARITSA EAST 2 TPP ECO UPGRADE
Source: novinite.com - (06/07/2011)

Topics: Economy      

Bulgaria's Commission on Protection of Competition (CPC) has fined three companies which participated in the construction of desulphurization installations at the state-owned thermal power plant Maritsa East 2. Consortium Idreco-Insigma, Zhejiang Zheda Insigma Group Co., Ltd, and Idreco Invest have been fined with BGN 50 000 each, according to CPC's announcement. Consortium Idreco-Insigma won the public procuirement contract for building the desulphurisation equipment with financing from...


BULGARIAN FINMIN: WE'LL GET RICHER THAN ROMANIA IN NO TIME!

BULGARIAN FINMIN: WE'LL GET RICHER THAN ROMANIA IN NO TIME!
Source: novinite.com - (05/07/2011)

Topics: Economy      

The average incomes of Bulgarians will surpass those of Romanians in two years, Bulgaria's Finance Minister Simeon Djankov vowed on Tuesday. Djankov announced his ambitious plan speaking before the private bTV channel. He pointed out the Bulgarian GDP per capita expressed in Purchasing Power Standards is 43% of the EU average, while Romania's is just 2% higher, according to Eurostat. In 2009, Bulgaria's GDP per capita expressed in PPS was a mere 37% of the EU average. According to the...


NUMBER OF ROMANIAN, GREEK COMPANIES IN BULGARIA GROWS TREMENDOUSLY

NUMBER OF ROMANIAN, GREEK COMPANIES IN BULGARIA GROWS TREMENDOUSLY
Source: novinite.com - (05/07/2011)

Topics: Business      

The number of fully Romanian-owned companies who set up their headquarters in Bulgaria has increased eightfold over the past 5 years, according to Bulgaria's National Revenue Agency. Thus, over 272 Romanian firms submitted corporate tax declarations to the Bulgarian tax authorities in 2010 compared with only 33 Romanian-owned companies in 2006, a year before Bulgaria and Romania joined the EU, the press office of the Bulgarian National Revenue Agency announced Tuesday. The largest number...


SWISS-BASED ENGINEERING GIANT ABB REACHES 1 000 EMPLOYEES IN BULGARIA

SWISS-BASED ENGINEERING GIANT ABB REACHES 1 000 EMPLOYEES IN BULGARIA
Source: novinite.com - (05/07/2011)

Topics: Business      

The Bulgarian subsidiary of Swiss-based engineering manufacturer ABB Group has marked the employment of its 1000th employee in Bulgaria, the company announced in a statement. ABB Bulgaria has managed to accomplish the doubling the number of its employees within two years, thus securing jobs to a significant number of people, even in regions with a high unemployment rate. The company statement stresses its slogan "A better world begins with you". Global engineering giant ABB has been...


BULGARIA'S 1ST IKEA STORE TO HIRE 130 PART-TIME WORKERS

BULGARIA'S 1ST IKEA STORE TO HIRE 130 PART-TIME WORKERS
Source: novinite.com - (05/07/2011)

Topics: Business      

Several months before the opening of the first IKEA store in Bulgaria expected in the fall of 2011, the Fourlis Group, IKEA's franchisee for Bulgaria through its subsidiary House Market, announced the opening of 130 part-time jobs. IKEA's store in Sofia is seeking service and administrative employees that can work shifts of 4 to 6 hours a day, the company said in a statement, stressing that its new demand of flexible labor will boost the labor market in the Bulgarian market and will create...


TOSHIBA INCHES TOWARDS MASSIVE BULGARIAN INVESTMENT WITH CARBON CAPTURE STUDY

TOSHIBA INCHES TOWARDS MASSIVE BULGARIAN INVESTMENT WITH CARBON CAPTURE STUDY
Source: novinite.com - (05/07/2011)

Topics: Investments      

Toshiba is going to perform a feasibility study for the construction of a coal-fired thermal power plant in Bulgaria that will feature carbon capture and storage facilities (CCS), the Japanese company has announced, apparently moving closer to a potential massive energy investment. Toshiba Corp will inspect if a TPP with a carbon capture and storage facility could be built in the Maritsa East complex in southeast Bulgaria, which features a large-scale lignite coal mining complex and three...


BULGARIA SET TO BENEFIT BIG FROM NEWLY-FOUND NATURAL GAS DEPOSIT

BULGARIA SET TO BENEFIT BIG FROM NEWLY-FOUND NATURAL GAS DEPOSIT
Source: novinite.com - (05/07/2011)

Topics: Economy      

A newly-discovered natural gas deposit near Lovech in Northern Bulgaria contains 10 billion cubic meters of gas, Bulgaria's Minister of Economy, Energy, and Tourism announced. Traikov said that Bulgaria will soon be able to extract about 1 billion cubic meters of natural gas per year, or about one-third of its annual consumption. He spoke Tuesday night without providing details about the deposit near Lovech but he apparently referred to an area around the village of Deventsi in central...


BULGARIAN SYNDICATES OUTRAGED BY GOVT PLANS TO PRIVATIZE POSTS

BULGARIAN SYNDICATES OUTRAGED BY GOVT PLANS TO PRIVATIZE POSTS
Source: novinite.com - (04/07/2011)

Topics: Economy      

Bulgarian trade unions have reacted harshly against recent indications on part of the government that it plans to privatize, fully or partially, Bulgarian Posts EAD, Bulgaria's state postal operator. After on last week, the Economy Committee of the Bulgarian Parliament approved a bill providing that Bulgaria's postal service state-owned company "Bulgarian Posts EAD" will be taken off the list of companies banned from being privatized, together with three other companies, on Monday,...



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