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Invest Bulgaria News Directory

(1394 Stories Found)

IRISH ISLAND RENEWABLE ENERGY TO BUILD WIND PARK IN BULGARIA

IRISH ISLAND RENEWABLE ENERGY TO BUILD WIND PARK IN BULGARIA
Source: novinite.com - (03/06/2011)

Topics: Investments      Renewable Energy

Irish company Island Renewable Energy will build a wind park in the Northern Bulgarian Suhindol municipality. The project, which may be launched after, wind measurements and a feasibility study, involves a 90-megawatt wind farm with 30 wind turbines valued at EUR 130 M. The investment is to be made by Island Bulgaria Ltd., a subsidiary of the Irish company. The new wind power park will cover an area 50 decares and is expected to be operational in 2014. Its construction will secure...


BULGARIA TO BEGIN EXPLORATORY WORK ON SOUTH STREAM

BULGARIA TO BEGIN EXPLORATORY WORK ON SOUTH STREAM
Source: novinite.com - (02/06/2011)

Topics: Infrastructure      

Bulgaria will launch exploratory work in the Black Sea to set the route of the future South Stream gas pipeline, announced Foreign Minister Nikolay Mladenov after a meeting in Moscow with his Russian counterpart Sergey Lavrov. "Naturally, we discussed major strategic projects like South Stream", Mladenov declared, adding that he had filed a document to the Bulgarian Council of Ministers permitting the start of exploration activities in Bulgaria's Black Sea region. The South Stream gas...


BULGARIA TO INVEST BGN 100 M IN EXTENDING LIFE OF KOZLODUY NUCLEAR REACTORS

BULGARIA TO INVEST BGN 100 M IN EXTENDING LIFE OF KOZLODUY NUCLEAR REACTORS
Source: novinite.com - (02/06/2011)

Topics: Investments      

Bulgaria will need to invest over BGN 100 M in the extension of the life of the two operational 1000-MW reactors of the Kozloduy nuclear power plant, according to its CEO Kostadin Dimitrov. Speaking at the Bulatom energy forum in Varna Thursday, Dimitrov said the technical surveying of the two reactors will last 18-24 months. It is expected to provide answers on how to go about extending the life of Units 5 and 6 of the only Bulgarian NPP, whose 440-MW Units 1-4 were shut down in 2002-2006...


BULGARIA'S BANKING SYSTEM STABLE, CORPORATE LENDING ON THE RISE

BULGARIA'S BANKING SYSTEM STABLE, CORPORATE LENDING ON THE RISE
Source: novinite.com - (01/06/2011)

Topics: Financial      

Data on Bulgaria's banking system as of April 30, 2011, has indicated no negative change in its financial stability, according to the latest report of the Bulgarian National Bank (BNB). April has marked the highest monthly growth of corporate lending in Bulgaria since the beginning of 2011. BNB data shows that the liquid asset ratio, as calculated under BNB Ordinance 11, preserved its high level at 23.70%. "The liquidity position of individual credit institutions remained adequate....


BULGARIA REGISTERS NOTABLE INCREASE BIODIESEL CONSUMPTION IN 2010

BULGARIA REGISTERS NOTABLE INCREASE BIODIESEL CONSUMPTION IN 2010
Source: novinite.com - (01/06/2011)

Topics: Business      Automotive

Biodiesel consumption in Bulgaria registered a staggering increase in 2010 amounting to 38 911, 13 tons, according to preliminary information from the Ministry of Economy, Energy and Tourism. Biodiesel consumption in the previous two years came in at 4260 tons and 6566 tons, respectively, following a report prepared by Traicho Traikov, Minister of Economy, Energy and Tourism, on the implementation of national indicative targets for the use of biofuels and other renewable fuels in the...


BULGARIA REGISTERS BUDGET SURPLUS IN APRIL THANKS TO CENTRAL BANK CONTRIBUTION

BULGARIA REGISTERS BUDGET SURPLUS IN APRIL THANKS TO CENTRAL BANK CONTRIBUTION
Source: novinite.com - (01/06/2011)

Topics: Financial      

Bulgaria registered a monthly surplus of BGN 190.5 M in April 2011, the second month in a row with a positive balance, the Finance Ministry announced. The April surplus appears to have resulted from the contribution of BGN 200.9 M of the Bulgarian National Bank (BNB) to the state budget, which is a leftover from BNB's 2010 surplus. Meanwhile, Bulgaria's fiscal reserve appears to have been depleted further. In March 2011, Bulgaria's budget registered a surplus of only BGN 8 M. In the...


BULGARIA'S 2020 ENERGY STRATEGY FOCUSES ON EFFICIENCY, RENEWABLES

BULGARIA'S 2020 ENERGY STRATEGY FOCUSES ON EFFICIENCY, RENEWABLES
Source: novinite.com - (01/06/2011)

Topics: Economy      

The Bulgarian Parliament has adopted the country's much-anticipated Energy Strategy by 2020, which emphasizes energy efficiency and renewable energy sources. The document was approved with 79 votes in favor and 27 votes against, without any abstentions, with only 106 out of 240 MPs in attendance despite its importance. The document lists the following priorities: guaranteeing the security of energy supplies, the introduction of new and the development of existing mechanisms for boosting...


BULGARIAN CIGARETTE COMPANY TABLES EUR 1 M PROFIT Q1

BULGARIAN CIGARETTE COMPANY TABLES EUR 1 M PROFIT Q1
Source: novinite.com - (31/05/2011)

Topics: Economy      

Bulgarian state cigarette producer Bulgartabac registered a net profit of BGN 2.17 M for the first quarter of 2011. For the same period in 2010, Bulgartabac had a net loss of BGN 2.3 M. The main reason behind the better performance this year is a 64% growth of revenue from cigarette sales, as well as 41% growth of revenue from export. Beginning of May the Bulgarian government announced a privatization bid for Bulgartabac, having stated it is looking for a strategic investor. This comes...


BULGARIAN NUCLEAR PLANT STRESS-TEST TO COST BGN 12 M

BULGARIAN NUCLEAR PLANT STRESS-TEST TO COST BGN 12 M
Source: novinite.com - (31/05/2011)

Topics: Politics      

The stress-test of the Bulgarian Kozloduy Nuclear Power Plant, NPP, required by the European Union, will cost anywhere between BGN 10 and 12 M. The information was reported by the company's CEO, Kostadin Dimitrov, during a public debate on electric power prices, held Monday at the State Commission for Energy and Water Regulation (DKEVR). According to the CEO, DKEVR failed to acknowledge some of the important expenses of the NPP when determining the new prices of electricity, effective...


SOFIA CITY HALL STARTS CONSTRUCTION OF NEW SPORTS FACILITY

SOFIA CITY HALL STARTS CONSTRUCTION OF NEW SPORTS FACILITY
Source: novinite.com - (30/05/2011)

Topics: Sports      Construction

The Sofia City Hall is making plans to have, for the first time in many years, a brand new park in the Vazrazhdane (Revival) district. The park, on 23 decares, will also boast a full sports complex, Mayor, Iordanka Fandakova, announced at a press conference to present projects for new sports facilities in the city. The new park will have five fields – a large one - 36x66 meters, and four smaller ones – 20x40 meters, two tennis courts, a field for beach football and volleyball, a field for...


MINISTER: BULGARIA HAS NO PLANS TO GIVE UP NUCLEAR POWER

MINISTER: BULGARIA HAS NO PLANS TO GIVE UP NUCLEAR POWER
Source: novinite.com - (30/05/2011)

Topics: Economy      

Bulgaria has no intention to give up nuclear energy, stated Bulgarian Minister of Economy and Energy Traicho Traikov Monday. Traikov was commenting the decision of the German government announced today to phase out all nuclear reactors by 2022 and to discontinue the production of electricity from fission. "Bulgaria will give up nuclear energy only when it gets populated by Germans," ironically commented the Bulgarian minister. Traikov mentioned that Bulgaria is committed to building a...


SHALE GAS PROVOKES DOUBTS, CONTROVERSY IN BULGARIA

SHALE GAS PROVOKES DOUBTS, CONTROVERSY IN BULGARIA
Source: novinite.com - (30/05/2011)

Topics: Economy      

The news that US company Chevron hopes to find major shale gas deposits in northeastern Bulgaria have raised the doubts of some experts and the concerns of environmentalists. Saturday it was announced that Chevron has landed a Bulgarian shale gas exploration concession with a whopping offer of EUR 30 M. According to the estimates of the bidders, the deposit near Novi Pazar contains between 300 billion and 1 trillion cubic meters of shale gas. The deal was strongly welcomed by Bulgarian...


BULGARIAN ENERGY MINISTER HINTS AT NEW NPP CONTRACT WITH RUSSIA

BULGARIAN ENERGY MINISTER HINTS AT NEW NPP CONTRACT WITH RUSSIA
Source: novinite.com - (28/05/2011)

Topics: Economy      

Bulgaria's Economy and Energy Minister, Traicho Traikov, announced the country is to, most likely, present to Russia a new project for contract for the Nuclear Power Plant, NPP, in the Danube town of Belene. "After consultants examined the current contract, they said that this is not an agreement for an NPP supposed to function based on market rules. This is a contract between two countries that have agreed they will build an NPP with secured financing, and it is obvious money will flow...


EVN TAKEOVER OF MAJOR BULGARIAN HYDRO POWER PLANT EXPECTED 'IN DAYS'

EVN TAKEOVER OF MAJOR BULGARIAN HYDRO POWER PLANT EXPECTED 'IN DAYS'
Source: novinite.com - (28/05/2011)

Topics: Economy      

Austrian company EVN is expected to purchase a 70% stake in the Bulgarian hydro power plant project "Gorna Arda" from Turkish company Ceylan "within days", according to Bulgarian Economy Minister Traicho Traikov. Traikov spoke Saturday at a news conference in Sofia dedicated to the energy policy of Borisov Cabinet. In December 2010, there were reports that the much anticipated deal with the vastly troubled Bulgarian hydro power project on the Arda river in the south would be sealed in the...


PRIVATIZATION OF BULGARIA'S NATIONAL PALACE OF CULTURE BANNED

PRIVATIZATION OF BULGARIA'S NATIONAL PALACE OF CULTURE BANNED
Source: novinite.com - (27/05/2011)

Topics: Economy      Real Estate

Any privatization of Bulgaria's National Palace of Culture (NDK), a giant cultural and congress center in downtown Sofia, will be abolished, the country's Finance Minister, Simeon Djankov said Friday. Djankov told the Bulgarian Parliament Friday that he has come up with a proposal on banning NDK's potential privatization, which is included in the new amendments to the country's privatization law. The center's functions will not be changed, he added. Instead, it will be modernized and made...


DOUBLE TREE BY HILTON WELCOMES SUMMER 2011 GUESTS ON BULGARIA'S COAST

DOUBLE TREE BY HILTON WELCOMES SUMMER 2011 GUESTS ON BULGARIA'S COAST
Source: novinite.com - (27/05/2011)

Topics: Investments      Tourism

The smell of chocolate chip cookies, a staple of the DoubleTree by Hilton, is already greeting the guests at the brand latest destination - the DoubleTree by Hilton Varna – Golden Sands on Bulgaria's Black Sea coast. Situated between the ancient, protected forests of Golden Sands National Park and the beautiful Black Sea beaches of the popular Golden Sands Resort, the hotel officially launched the spring and summer season with key business and civic leaders. "DoubleTree by Hilton is truly...


BULGARIAN GOVT, WESTINGHOUSE MOVE CLOSER TO COOPERATION

BULGARIAN GOVT, WESTINGHOUSE MOVE CLOSER TO COOPERATION
Source: novinite.com - (27/05/2011)

Topics: Investments      

Bulgarian Prime Minister Boyko Borisov has met with Westinghouse President for EMEA Anders Jackson and VP for Southern Europe Jose Gutierrez. Friday's meeting in Sofia is the latest in a series of meetings between the Bulgarian government and the US energy giant, and is the most high-profile one. It was also attended by Bulgarian Minister of Economy, Energy, and Tourism Traicho Traikov and US Ambassador to Bulgaria James Warlick. Its talks focused on discussing the results of...


BULGARIA'S RAILWAYS CONTRACT TURKEY'S TUVASAS FOR 30 SLEEPING CARS

BULGARIA'S RAILWAYS CONTRACT TURKEY'S TUVASAS FOR 30 SLEEPING CARS
Source: novinite.com - (27/05/2011)

Topics: Infrastructure      

The Bulgarian State Railways BDZ will order the construction of 30 sleeping cars to Turkey's state owned manufacturer Tuvasas after BDZ lost a court battle trying to cancel the order. The CEO of the debt-ridden Bulgarian state railways Pencho Popov and the technical director of the company Georgi Panchev visited the production facilities of Tuvasas in Turkey's Adapazari. During their meeting with the management of the Turkish state railways plant, the order for the 30 sleeping cars has...


BULGARIAN FINANCE MINISTER'S 'FISCAL STABILITY' BRAINCHILD ENTERS PARLIAMENT

BULGARIAN FINANCE MINISTER'S 'FISCAL STABILITY' BRAINCHILD ENTERS PARLIAMENT
Source: novinite.com - (27/05/2011)

Topics: Financial      

Bulgaria's Finance Minister Simeon Djankov submitted to parliament on Friday a plan, known as the "Financial Stability Pact", which proposes constitutional amendments in a bid to ensure the stability of state finances. The Parliament is expected to set up a special commission to discuss the legal amendments needed before the proposals are put to the vote, Djankov told reporters. "I have been assured by quite a lot lawmakers that the constitutional changes can be approved by the fall," he...


BULGARIA RANKED CHEAPEST SUMMER HOLIDAY DESTINATION

BULGARIA RANKED CHEAPEST SUMMER HOLIDAY DESTINATION
Source: novinite.com - (26/05/2011)

Topics: Economy      Tourism

Bulgaria is the cheapest summer holiday destination according to a survey of the German automotive union ADAC. The survey covers 50 resorts in 10 European countries and includes various costs, such as sun protection creams (a price range of EUR 4.80- EUR 25 at the French Atlantic coast), beach chaise longues (EUR 2 in Croatia, EUR 20 in Italian resort Cesenatico), etc. According to ADAC data, Bulgaria charges the cheapest for a consumer basket of 34 products and services for a family with...



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All News Pieces: 1385



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