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

WATCHDOG OKS BULGARIAN MALL SALE TO ROCKEFELLER'S EUROPA CAPITAL

WATCHDOG OKS BULGARIAN MALL SALE TO ROCKEFELLER'S EUROPA CAPITAL
Source: novinite.com - (24/07/2011)

Topics: Business      Real Estate

Bulgaria's anti-monopoly body has given the green light to the acquisition of a shopping mall in the capital Sofia by London-based property fund manager Europa Capital, part of US real estate investor Rockefeller Group International. The Commission for Protection of Competition (CPC) approved on Friday the deal for the sale of Mall of Sofia to Dorado 1, which is controlled by Europa Capital, the regulatory body announced. The deal was financed by Hungary's OTP and its Bulgarian unit...


BULGARIA SEES INCREASE IN NUMBER OF RUSSIAN TOURISTS

BULGARIA SEES INCREASE IN NUMBER OF RUSSIAN TOURISTS
Source: novinite.com - (23/07/2011)

Topics: Business      Tourism

An increase in the number of Russian tourists has been registered in Bulgaria over the last two years, according to Marin Neshkov, chair of the tourist chamber of the country's Black Sea capital Varna, has said. Besides Russians, tourists from Germany and the UK constitute major parts from the Balkan country's tourist market, Neshkov has said, as cited by actualno.com. Bulgaria has already achieved its highest possible market share in Germany, the Nordic countries and the UK and could...


BULGARIA SEES FURTHER DROP IN DWELLING PRICES

BULGARIA SEES FURTHER DROP IN DWELLING PRICES
Source: novinite.com - (22/07/2011)

Topics: Business      Real Estate

Bulgaria's dwelling prices have decreased by 6.4% year on year during the second quarter of 2011, according to the country's National Statistical Institute. The dwelling prices have dropped with 1.6% in comparison with the year's first quarter. According to the statistical institute, the average price for a dwelling has been BGN 908.98 per square meter. Dwellings have been most expensive in the Black Sea capital Varna, with an average of BGN 1 508.67 per square meter, followed by Sofia...


OFFSHORE CO ACQUIRES BUYER OF BULGARIA'S BANKRUPT STEEL MILL

OFFSHORE CO ACQUIRES BUYER OF BULGARIA'S BANKRUPT STEEL MILL
Source: novnite.com - (21/07/2011)

Topics: Business      

An offshore company, registered on the British Virgin Islands, has acquired the buyer of Bulgaria's biggest steel mill Kremikovtzi amid many question marks surrounding the deal. "Bessian Management Limited" bought "Eltrade company", owned by 26-year-old Lachezar Varnadzhiev for BGN 20 000, shows a check in the Trade Registry. "Bessian Management Limited" is in its turn controlled by another offshore company – "Bun Sekretarial Limited", based in Cyprus. Bulgaria sold in April the...


BULGARIA TO FINALIZE SHALE GAS CONTRACT WITH CHEVRON IN DAYS

BULGARIA TO FINALIZE SHALE GAS CONTRACT WITH CHEVRON IN DAYS
Source: novinite.com - (20/07/2011)

Topics: Business      

Bulgaria will finalize shale gas exploration talks with US Chevron and seal a contract in the next few days, Energy Minister Traicho Traikov has announced. Traikov participated Tuesday in a discussion on shale gas exploration and production in Bulgaria. The Energy Minister revealed that auctions for new exploration blocks in North Bulgaria were forthcoming. In end-May, US energy giant Chevron won a shale gas drilling permit in Novi Pazar, Northeast Bulgaria, with a EUR 30 M bid....


BULGARIA'S 2010 ARMS EXPORTS AMOUNTED TO EUR 260 M

BULGARIA'S 2010 ARMS EXPORTS AMOUNTED TO EUR 260 M
Source: novinite.com - (20/07/2011)

Topics: Business      

Bulgaria exported arms and munitions worth over EUR 259 M in 2010, according to a Bulgarian government report. The 2010 of the Inter-institution Commission for Export Control and Non-proliferation of Weapons of Mass Destruction of the Bulgarian Economy Ministry was adopted by the Cabinet on Wednesday, and will be presented to the Parliament. It shows that in 2010 the arms commission issued a total of 614 permits, of which 339 were for the exports of arms and transfer of weapons out of...


SOFIA INTERNATIONAL AIRPORT TO GET TO DETERMINE OWN FEES

SOFIA INTERNATIONAL AIRPORT TO GET TO DETERMINE OWN FEES
Source: novinite.com - (20/07/2011)

Topics: Business      Tourism

Draft legislation approved by the Bulgarian Cabinet on Wednesday is going to allow the Sofia International Airport to determine its own airport fees, a measure that could lead to increase of plane ticket prices. Sofia Airport will be determining its fees, and will coordinate them with air companies and land operators using its services, the Cabinet-approved legislation stipulates. At present, the fees of the Bulgarian airports are determined by the Civil Aviation Administration, a...


BULGARIA'S VIVACOM TELCO SELLS REMAINING 50% OF NURTS

BULGARIA'S VIVACOM TELCO SELLS REMAINING 50% OF NURTS
Source: novinite.com - (20/07/2011)

Topics: Business      

Bulgaria's Vivacom telco has sold the last 50% of its transmission company NURTS to Bluesat Partners Ltd for an undisclosed fee. In August 2010, Vivacom sold the other 50% of NURTS to Cyprus-registered Mancelord Limited. Until now, NURTS was a joint venture between the Bulgarian Telecommunications Company, rebranded as Vivacom, and Mancelord Limited. NURTS is a key player in local terrestila analogue signal destribution, covering nearly all of Bulgaria with its network of radio and...


BULGARIA SET FOR BOOM IN ELECTRIC CARS, CONVERTED VEHICLES INDUSTRY

BULGARIA SET FOR BOOM IN ELECTRIC CARS, CONVERTED VEHICLES INDUSTRY
Source: novinite.com - (18/07/2011)

Topics: Business      Automotive

The large-scale industrial conversion of conventional cars into electric vehicles is expected to become Bulgaria's new major industry, a special report of Novinite.com (Sofia News Agency) has found. The development of Bulgaria's electric vehicle industry is expected to experience a boom in 2012, Iliya Levkov, Chair of Bulgaria's Electric Vehicles Industrial Cluster (EVIC), has told Novinite.com (Sofia News Agency) in an exclusive interview. EVIC, a 100% Bulgarian NGO designed to spur...


LUKOIL HIKES BULGARIA'S FUEL PRICES

LUKOIL HIKES BULGARIA'S FUEL PRICES
Source: novinite.com - (17/07/2011)

Topics: Business      

Fuel prices in Bulgaria has reached new highs after Lukoil Bulgaria announced new minor increases. The wholesale price of the most widely use gas fuel A95 has reached BGN 2.52 per liter, up by BGN 0.04, while the diesel has hit BGN 2.51, after an increase of BGN 0.01 per liter. While the latest increase announced Saturday is not substantial, since the beginning of July, Lukoil, which is the major refinery in Bulgaria, has hike prices by 0.15 per liter for gas, and 0.12 per liter for...


LOGWIN STARTS BULGARIAN OFFICE, SEES BULGARIAN ECONOMY 'IN UPSWING'

LOGWIN STARTS BULGARIAN OFFICE, SEES BULGARIAN ECONOMY 'IN UPSWING'
Source: novinite.com - (17/07/2011)

Topics: Business      

Luxembourg-based international logistics service provider Logwin has started a Bulgarian subsidiary with high hopes for the Bulgarian economy, according to a company statement. Logwin formally set up its own national organization in Bulgaria on June 20, when it opened its first location in the country's capital Sofia in the logistics center at Sofia Airport Center, starting national and international transportation from Sofia, warehousing, value-added services as well as air and sea...


400 000 BRITISH TOURISTS EXPECTED TO FLOCK TO BULGARIA 2011

400 000 BRITISH TOURISTS EXPECTED TO FLOCK TO BULGARIA 2011
Source: novinite.com - (16/07/2011)

Topics: Business      Tourism

Some 400 000 British tourists will have visited Bulgaria by the end of 2011, Catherine Barber, current Charge d 'Affairs of Great Britain in the Balkan country' has stated. Bulgaria is not considered a cheap destination among Brits, Barber has assured, denying statements that her compatriots are mainly attracted to the country by its cheap food and alcohol. She said many Brits are interested in Bulgaria's cultural legacy, adding that environmental tourism in Bulgaria is gaining momentum....


BULGARTRANSGAZ CEO APPOINTED HEAD OF NABUCCO BULGARIA

BULGARTRANSGAZ CEO APPOINTED HEAD OF NABUCCO BULGARIA
Source: novinite.com - (15/07/2011)

Topics: Business      

The newly-appointed CEO of state-owned Bulgartransgaz company, a subsidiary of Bulgargaz, Kiril Temelkov will also be in charge of the Bulgarian firm for the realization of the Nabucco gas transit pipeline. Temelkov is going to serve temporarily as the head of Bulgaria's "National Nabucco Company" until a suitable person is found to fill the position within the upcoming weeks, Nabucco Gas Pipeline International GmbH, the Nabucco consortium, announced Friday. "The Nabucco project is met...


BULGARIAN SPA COMPANY SET TO CONQUER CHINESE MARKET

BULGARIAN SPA COMPANY SET TO CONQUER CHINESE MARKET
Source: novinite.com - (15/07/2011)

Topics: Business      

Nola 7, Bulgaria's leading spa company signed a strategic cooperation agreement with its Chinese partner Beijing LSJH, receiving green light to make a major step into the Asian country's market. Thus, Nola 7 will become the first Bulgarian company whose spa and wellness facilities have reached China. "We earned the trust of our partners from Beijing LSJH with our successful projects in more than eight countries in Europe, Asia and Africa," Ivan Tanev, Nola 7's CEO, said during the...


FOREIGNERS FANCY BULGARIA'S CULTURAL, SPA TOURISM

FOREIGNERS FANCY BULGARIA'S CULTURAL, SPA TOURISM
Source: novinite.com - (14/07/2011)

Topics: Business      Tourism

Cultural and spa activities are considered the most attractive forms of tourism among the foreign tourists in Bulgaria, according to a poll conducted by Synesta Consortium. In contrast, Bulgarians most frequently visit relatives or travel to the country during their summer breaks, the poll shows. Foreigners spend between EUR 70 and EUR 90 per day on average in Bulgaria's resorts and usually stay 9-10 days, while locals spend just EUR 19-EUR 25 daily and stay 5-6 days. Many foreigners...


TOTAL RETAIL SPACE IN BULGARIA EXPECTED TO RISE BY 42%

TOTAL RETAIL SPACE IN BULGARIA EXPECTED TO RISE BY 42%
Source: novinite.com - (13/07/2011)

Topics: Business      Real Estate

Compared to 2010, which was characterized with a record supply of new shopping centers, no significant retail schemes have been completed since the beginning of 2011, according to the Q2 report of Forton International. The current shopping center stock stands at almost 560 000 sqm GLA. Pipeline supply remains challenging with over 237 000 sqm of retail space under construction. If all of the projects are completed successfully,the total shopping center stock in the country will...


'LIMITED RETURN' OF BULGARIAN REAL ESTATE MARKET 'ON THE WAY'

'LIMITED RETURN' OF BULGARIAN REAL ESTATE MARKET 'ON THE WAY'
Source: novinite.com - (12/07/2011)

Topics: Business      Real Estate

Data shows Bulgaria's real estate sector is experiencing a limited recovery, according to the "Bulgaria Real Estate Report Q3 2011" of Business Monitor International (BMI). "Bulgaria's real estate sector has experienced a startling downward trend in recent years as the value of property has plummeted led by a dearth of demand. Early data from the first two months of 2011, however, suggest that a limited return is on the way," the report says. It cites data that an average of 1 550...


GERMAN FIRM GEHRLICHER COMPLETES BULGARIAN SOLAR PLANT

GERMAN FIRM GEHRLICHER COMPLETES BULGARIAN SOLAR PLANT
Source: novinite.com - (12/07/2011)

Topics: Business      Renewable Energy

Gehrlicher Solar AG, a German company, has completed its first Bulgarian photovoltaic project, a 1.2 MW project located west of Sofia. The photovoltaic plant in Kosharevo near Breznik is expected to generate around 1.4 million kW/h of energy annually. The 1.2 MW photovoltaic plant will receive a feed-in tariff rate of 35.75 euro cents per kWh, the PV Magazine reported. The German solar company completed construction on the project in June. It is expected to be grid connected...


SOFIA'S REAL ESTATE MARKET BACK ON FEET

SOFIA'S REAL ESTATE MARKET BACK ON FEET
Source: novinite.com - (12/07/2011)

Topics: Business      Real Estate

Bulgarian capital Sofia's real estate market seems to have recovered from the crisis, as it has grown four times more active than in its worst period, according to an analysis prepared by the Bulgarian Address Real Estate company. Prices are stable in Sofia, according to the company, with properties valued under EUR 50 000 the most sought after among buyers. But even though 45% of all buyers are looking for properties below EUR 50 000, deals worth more than EUR 100 000 are not so rare as...


BULGARIA'S PLOVDIV BOASTS INCREASE OF TOURIST VISITS

BULGARIA'S PLOVDIV BOASTS INCREASE OF TOURIST VISITS
Source: novinite.com - (11/07/2011)

Topics: Business      Tourism

The number of Bulgarian and foreign tourists, who have visited Bulgaria's second largest city of Plovdiv, has increased significantly. The data comes from the Tourist Informational Center in downtown Plovdiv, cited by the local daily "Maritsa." In June 2011, there have been 300 more visitors of the Center, seeking information, compared to June 2010. In June 2011, people from 44 different countries have visited Plovdiv, mainly from France, the UK, Germany, and the US. They latter have...



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