A Bulgarian exterior designer, Deyan Denkov, is the author of the design concept of Renault's latest concept car, the Renault Frendzy.
Denkov, a native of Yambol in Eastern Bulgaria, has been working for Renault since 2007, according to the Renault website.
"I took inspiration from a wide variety of sources, including unconventionally shaped aircraft such as the Airbus Beluga and the Antonov 224," Denkov explains, as cited by The Daily Telegraph, adding that the Frendzy is both a business...
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...
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...
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...
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...
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...
The current driver for real estate values in Bulgaria, the income levels and domestic demand of the population, are set to result in a stable annual growth rate of 5-6% of real estate prices, Curtis M. Coward, CEO of the Arceland asset management fund told Novinite.com (Sofia News Agency) in an interview.
According to Coward, who is also a member of he Bulgarian Land and Property Owners Association (BULLPOA), that is a reliable, understandable, and credible number for a decade, as opposed to...
Only three companies have remained to bid for the privatization of Bulgaria's state-owned cigarette-making giant Bulgartabac Holding, and only one of them is a strategic investor – British American Tobacco.
In addition to BAT, only two companies registered in Austria – CB Family Office Services and BT Invest – have remained to bid for the purchase of a majority stake in Bulgartabac.
A total of 10 companies bought documents for the tender for the privatization of Bulgartabac Holding...
Some 800 Greek firms have been registered in Bulgaria in the first half of 2011, many of whom are said to have moved north because of the crisis in Greece.
About as many more can be expected to be set up in Bulgaria by the end of 2011, according to a report of the bTV channel, which reminds that the situation is similar with respect to Romanian-owned companies.
Firms from Bulgaria's two EU neighbors Greece and Romania are said to be drawn to moving to Bulgaria not just by the taxes, which...
Bulgarian cities and towns will be visible through Google Street View as Google executives have already notified the Bulgarian authorities of their intention to launch the product for Bulgaria.
Bulgaria's Commission for Protection of Personal Data has been visited by Google officials from offices in Ireland and the Czech Republic several days ago, Commission head Veneta Shopova has announced.
The Google representatives, Simon Miechen from Ireland and Eva Martinikova from the Czech...
The Bulgarian company "Adval" JSC and the German Ed. ZÑŒblin AG held the grand opening of the third largest tunnel in Germany, the "Blessberg" tunnel, on Thursday.
The ceremony was attended by the German Minister of Transport Dr. Peter Rahmsauer, the Prime Minister of Thuringia Christine Lieberknecht, the Chairman of the Board of the German Railways (Deutsche Bahn AG) Dr. Ruediger Grube, the transport minister of Thuringia Christian Carius, the SPD deputy Sabine Doht and the Regional...
Bulgaria has witnessed a 1.2% monthly increase in the production of solid fuels to 2885 000 tons in March 2011, while the production of liquefied petroleum gas (LPG) has gone up by 66.7% to 10 000 tons in the same period.
According to data of the National Statistical Institute (NSI), in March 2011 the production of unleaded gasoline goes up by 112.5% to 153 000 tons on the month, diesel fuel adds 97.8% to 184 000 tons and natural gas rises by 28.1% to 41 million standard cubic meters.
The...
Radisson Blu in Sofia will soon be featuring a renovated commercial zone, announced Colliers International, consultant of the project.
The hotel will offer a variety of prestigious tenants and entertainment opportunities.
The new commercial area will have a total GLA of 1,100 sqm and will offer accessories and health and beauty shops, an expanded Casino, and the much loved Tequila night club, which is to re-open in Radisson Blu.
"I am glad that Colliers secured a variety of prestigious...
Bulgaria's Black Sea resorts expect an even higher number of Romanian tourists in summer 2011, according to hotel managers.
"Figures are already indicating that there will be a substantial growth in the number of Romanian tourists. It is another matter if this boom can compensate for the decrease in the number of tourists from other destinations," Ivan Portnih, CEO of Grand Hotel Varna, is quoted as saying by the Cherno More newspaper.
"The record number of Romanian tourists has its...
Bulgaria and China signed a memorandum on mutual cooperation in the sphere of Information Technologies Friday.
Broadband technologies, e-government, joint research projects and support for business development are among the areas covered by the memorandum, which was signed by the Bulgarian Minister of Transport, Information Technologies and Communications Ivaylo Moskovski, and the Chinese Minister of Industry and Information Technologies, Miao Wei, China Daily reports.
Information...
Romanian and Bulgarian subsidiaries of Greek banks have been funding their parent companies in the local market, analysts at Nomura Research Institute have observed.
According to Joseph Cotterill from the Financial Times there are a lot of ironies here.
"Romanian and Bulgarian subsidiaries of Greek banks are pretty well capitalized but largely that's because their parent institutions supported their subsidiaries under the original Vienna Initiative, in 2009," he writes in an article in...
Bulgaria's anti-monopoly body said on Thursday it has given the green light to the sale of a 49.99% interest in Bulgarian-American Credit Bank.
Allied Irish Banks announced a month ago that it has signed an agreement to sell its 49.99% shareholding in Bulgarian-American Credit Bank AD to Clever Synergies Investment Fund (CSIF).
The deal price was not disclosed.
The deal brought back into the banking sector Bulgarian tycoon Tsvetelina Borislavova, more publicly known as the woman with...
The Canadian EurOmax Resources company has discovered new gold zones near the southwestern Bulgarian town of Trun during its drill program.
Results include 87 meters at 2.14 grams per tonne gold (285 feet at 0.063 oz per ton gold) in diamond drill hole MTC1174, the first hole to test the region's Ruy target, a 600 x 400 meter gold-in-soil anomaly.
"Initial results from our 2011 Drill Program at Trun are very encouraging," Dr. Quinton Hennigh, technical advisor to the company, has...
Bulgaria's Cabinet has formally decided to award a large-scale concession for shale gas exploration to US energy giant Chevron.
The decision was formalized by the Borisov government on Wednesday after at the end of May 2011 Bulgarian Economy, Energy, and Tourism Minister Traicho Traikov announced that US energy giant Chevron landed the shale gas exploration concession with a whopping offer of EUR 30 M, snatching it from British company BNK Petroleum, which remained second in the...
More than 10 000 car enthusiasts visited Bulgaria's 2011 Sofia Motor Show on Saturday, the first day of the event.
An unusually high amount of deals were struck on the first day of the spectacular exhibition, the Dnevnik daily said Monday, citing car dealers who claimed this was a clear sign of the Bulgarian car market's recovery.
The attractive discounts announced by many of the dealers have been pointed out as one of the main reasons for the vast interest.
A lot of deals have been...
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