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Invest Bulgaria News Directory

(1394 Stories Found)

BUSINESS CLIMATE IMPROVES BY 2.7% IN BULGARIA FEBRUARY 2010

BUSINESS CLIMATE IMPROVES BY 2.7% IN BULGARIA FEBRUARY 2010
Source: novinite.com - (28/02/2011)

Topics: Economy      

In February 2011 the total business climate indicator has increased by 2.7% in comparison with the previous month, but is still 8.3% below its long-term average value, the National Statistical Institute has informed. The composite indicator of business climate in industry has increased by 4.1 percentage points in comparison with January and it is only 2.5 percentage points below its long-term average value. The inquiry registers increased managers' optimism about the expected business...


TEXAS SCIENCE INSTITUTE: BULGARIA HAS BRIGHT FUTURE IN HITECH

TEXAS SCIENCE INSTITUTE: BULGARIA HAS BRIGHT FUTURE IN HITECH
Source: novinite.com - (26/02/2011)

Topics:       

Bulgaria has a great potential in the development of high technologies and should consistently pursue it, according to Texas Institue of Science CEO Laslo Olah. Olah spoke to BGNES within his working visit to Sofia, hosted by the Bulgarian Academy of Science. The Texas Institue of Science CEO and President commented that lamentably the climate in Bulgaria does not favor innovation and development, despite the country's high capacities in research. "A good system is one that allows...


RUSSIA REITERATES WARNINGS FOR BULGARIA OVER BURGAS-ALEXANDROUPOLIS

RUSSIA REITERATES WARNINGS FOR BULGARIA OVER BURGAS-ALEXANDROUPOLIS
Source: novinite.com - (25/02/2011)

Topics: Business      Renewable Energy

Russia is reiterating talk of suing Bulgaria over foiling the project to build the Burgas-Alexandroupolis oil pipeline, according to Russian Energy Minister, Sergey Shmatko. The Russian news agency RIA Novosti is citing Shmatko saying Russia is still interested in the project over its economic feasibility, but is prepared to withdraw after receiving compensations. The statement comes about a week after Moscow warned it will scrap the pipeline and then recanted the announcement. "We...


BELGIAN RETAILER SEEKS DEAL WITH BALKAN-WIDE SUPERMARKETS

BELGIAN RETAILER SEEKS DEAL WITH BALKAN-WIDE SUPERMARKETS
Source: novinite.com - (24/02/2011)

Topics:       

Belgian retailer Delhaize is expected to acquire 50% of Serbian conglomerate Delta Holding, which owns the chain Piccadilly, operating in Bulgaria. Financial Times reported Thursday that the final agreement will be announced by early March, but Delhaize is expected to take a 50% stake of the Serbian supermarket network, which have annual earnings of more than EUR 1 B on a turnover of EUR 2.7 B. The deal would make Delhaize the first big western European retailer to break into a regional...


BULGARIA APPROVES JOINT INVESTMENT VENTURE WITH QATAR

BULGARIA APPROVES JOINT INVESTMENT VENTURE WITH QATAR
Source: novinite.com - (24/02/2011)

Topics:       

Bulgaria's Parliament has approved the setting up of a joint venture between the Bulgarian "National Company Industrial Zones" and the Qatar Investment Authority. The future joint venture of the state entities of Bulgaria and Qatar will have a capital of at least USD 500 M, with all of the money being provided by the Qatar Investment Authority. The funds will be invested in Bulgarian agriculture, real estate, tourism, finance, and other attractive investment opportunities. The document...


BULGARIA PROPERTIES 13TH MOST ATTRACTIVE TO BRITISH BUYERS

BULGARIA PROPERTIES 13TH MOST ATTRACTIVE TO BRITISH BUYERS
Source: novinite.com - (23/02/2011)

Topics: Real Estate      Real Estate

Bulgaria has made it to the thirteenth spot in a new ranking of property markets, which remain popular for foreign mortgages among Britons. The Bulgarian market has attracted 1.3% of the searches for properties abroad at the site of Rightmove Overseas in January, while their number increased by 40,5% over December. Britons continue to be attracted most by the idea of taking out a foreign mortgage for a property in Spain, the ranking shows. Australia, New Zealand and Canada have...


BULGARIA WRITES OFF 77% OF ZIMBABWE'S DEBT

BULGARIA WRITES OFF 77% OF ZIMBABWE'S DEBT
Source: novinite.com - (23/02/2011)

Topics: Financial      

Bulgaria's government decided on Wednesday to waive USD 6.3 M or 77% of Zimbabwean debt, which has not been serviced in the past 20 years. The remainder of Zimbabwe's debt – a total of USD1.886 M will be paid in four installments within one year, the Sofia-based cabinet said. Should the Zimbabwean government fail to fulfill its obligation under the agreement, it will be obliged to pay the debt in full in one installment in the framework of sixty days. Zimbabwe's USD 8.2 M debt piled up...


BULGARIA, CHINA'S JIANGSU TO INK ECONOMIC COOPERATION MEMORANDUM

BULGARIA, CHINA'S JIANGSU TO INK ECONOMIC COOPERATION MEMORANDUM
Source: novinite.com - (23/02/2011)

Topics: Business      

The Bulgarian government has accepted a draft memorandum on economic cooperation with east China's Jiangsu province. Exchanging information on investment policies, opportunities for establishing joint industrial projects and joint ventures, and opening offices and branches will be the key activities Bulgaria and Jiangsu would promote from now on, according to the memorandum. Jiangsu is one of the most economically vibrant Chinese provinces, home to many of the world's leading exporters of...


BULGARIAN FINMIN FOCUSES ON 'FINANCIAL STABILITY PACT', LEAVES EURO BID ASIDE

BULGARIAN FINMIN FOCUSES ON 'FINANCIAL STABILITY PACT', LEAVES EURO BID ASIDE
Source: novinite.com - (22/02/2011)

Topics: Financial      

Bulgaria's Finance Minister Simeon Djankov plans to dedicate all of his efforts to the passing of Constitution amendment guaranteeing stable state finances, known as the "Financial Stability Pact." The measures termed "Financial Stability Pact" were first announced by Djankov on February 8 at a lecture at the New Bulgarian University in Sofia following the US tradition in which crucial policy speeches are delivered at academic institutions. On Tuesday, Djankov and his two deputies...


BULGARIAN SUMMER RESORT ALBENA EXPECTS 20% MORE GERMANS

BULGARIAN SUMMER RESORT ALBENA EXPECTS 20% MORE GERMANS
Source: novinite.com - (22/02/2011)

Topics: Business      Tourism

The Bulgarian Black Sea resort Albena is expecting a 20% increase of German tourists this summer, in comparison to last year. Yovka Strashilova, Deputy Director in the Sales Department in the resort, said that last year the number of German tourists in Albena were 16% more than the previous year. She has explained the increased interest with the advertising campaign, organized for the second consecutive year by Albena Jsc in cooperation with tour operators. In her opinion, the lower...


HUNGARY'S ELMIB TO BUILD EUR 30 M SOLAR PARK IN BULGARIA

HUNGARY'S ELMIB TO BUILD EUR 30 M SOLAR PARK IN BULGARIA
Source: novinite.com - (22/02/2011)

Topics: Business      Renewable Energy

The investment will be handled by Elmib Bulgaria, the Bulgarian subsidiary of Hungary's Elmib, announced Elmib CEO Peter Reicher, the Budapest Business Journal reported citing the Vilaggazdasag business daily. Reicher told the newspaper that the company expects to complete the 15 MW solar park in the Eastern Bulgarian town of Sungurlare within a year and a half. Once up and running, the electricity produced by the solar park will be fed into the Bulgarian national grid, thus saving 11 400...


EC SLATES EUR 250 M FOR SOFIA METRO

EC SLATES EUR 250 M FOR SOFIA METRO
Source: novinite.com - (22/02/2011)

Topics: Infrastructure      

The European Commission is slating funds from the EU operational program Transport in the amount of EUR 250 M for the metro construction in the Bulgarian capital Sofia. The contract was signed Tuesday between the Deputy Transport Minister, Ivaylo Moskovski and the Head of the municipal company "Metropolitan," Stoyan Bratoev. The funds will be used for the construction of the so-called stage II which includes a segment of the second subway line – from the Obelya district to the Nadezhda...


BULGARIA, SERBIA INK ECONOMIC COOPERATION PROTOCOL

BULGARIA, SERBIA INK ECONOMIC COOPERATION PROTOCOL
Source: novinite.com - (22/02/2011)

Topics: Business      

A bilateral protocol on economic cooperation was signed between Bulgaria and Serbia on Tuesday. The document was inked by Bulgaria's Minister of Transport and IT Alexander Tsvetkov and Serbia 's Minister of Trade and Services Slobodan Milosavljevic. The collaboration between partner institutions from the two countries on export growth, the cooperation between small- and medium sized companies and trade chambers, as well as organizing business forums have been pointed out as its key...


GREEN ECONOMY FORUM TO OPEN IN SOFIA

GREEN ECONOMY FORUM TO OPEN IN SOFIA
Source: novinite.com - (22/02/2011)

Topics: Economy      

A forum dedicated to the importance of green economy for Bulgaria will be organized on Tuesday in the capital Sofia. International experts, Bulgarian politicians, business representatives, representatives from the Bulgarian Environment Ministry, the World Bank and Innovation Norway will participate in the event. It will be opened by Tove Skarstein, Norwegian Ambassador in Bulgaria. Topics such as the importance of "green" development and the policies which may accelerate the stable...


TRANSATLANTIC PETROLEUM BUYS DIRECT PETROLEUM BULGARIA

TRANSATLANTIC PETROLEUM BUYS DIRECT PETROLEUM BULGARIA
Source: novinite.com - (21/02/2011)

Topics: Business      Renewable Energy

Texas-based company TransAtlantic Petroleum has closed deals on the acquisition of 100% of Direct Petroleum Bulgaria EOOD, Direct Petroleum Morocco Inc., and Anschutz Morocco Corporation. The deal with Direct Petroleum Exploration, Inc. was closed on February 18, 2011, TransAtlantic Petroleum said in a statement on Monday. It issued 8 924 478 of its common shares to Direct Petroleum, and paid USD 2 M in cash consideration at closing in addition to USD 492 000 in cash...


SERBIA CONFIRMS INTEREST IN INVESTING IN BULGARIA'S BELENE NUCLEAR PLANT

SERBIA CONFIRMS INTEREST IN INVESTING IN BULGARIA'S BELENE NUCLEAR PLANT
Source: novinite.com - (21/02/2011)

Topics: Business      Renewable Energy

Serbian Prime Minister Mirko Cvetkovic has confirmed his country's continued interest in acquiring a share of Bulgaria's future second nuclear power plant "Belene". The economic aspects of Cvetkovic's visit in Sofia on Monday were overshadowed by the incident over the weekend in which Serbian authorities obstructed the remembrance of Bulgarian national hero Vasil Levski by the Bulgarian minority in Serbia. Bulgarian PM Borisov and Cvetkovic, however, did focus their talks on certain...


IDEAL STANDARD COMPLETES MERGER OF BULGARIAN SUBSIDIARIES

IDEAL STANDARD COMPLETES MERGER OF BULGARIAN SUBSIDIARIES
Source: novinite.com - (21/02/2011)

Topics:       

The two affiliates of Ideal Standard International that operate in the Bulgarian town of Sevlievo were formally merged in one company, officials have announced. The merger between Ideal Standard Bulgaria and Ideal Standard Vidima was completed on January 31, 2011, company executives announced at a news conference in Sofia. The merger was originally supposed to be finalized a day earlier; the merging did not affect the production operations of the two plants. Thus, as of February 1, 2011,...


BULGARIAN HOTEL REVENUES UP 4% Q4 2010 Y/Y

BULGARIAN HOTEL REVENUES UP 4% Q4 2010 Y/Y
Source: novinite.com - (21/02/2011)

Topics: Business      Tourism

The number of overnight stays of Bulgarians in hotels and mountain cabins is down by 0.2% or 2 300 during the last quarter of 2010, compared to the last quarter of 2009. The data was released Monday by the National Statistics Institute, NSI. The number of stays of foreigners is, however, up by 22% or 5 100 during the same period. Greeks have the largest share with 21% of all foreign visitors' hotel accommodations. Almost all of the foreign visitors (over 99%) have chosen to stay in...


SAUDI ARABIA BUSINESS KEEN ON DIRECT BULGARIA FLIGHTS

SAUDI ARABIA BUSINESS KEEN ON DIRECT BULGARIA FLIGHTS
Source: novinite.com - (21/02/2011)

Topics: Business      

The Saudi Arabian business wants direct flights to Bulgaria to be launched, Dr. Fahad Al-Sultan , Secretary General for the Council of Saudi Chambers of Commerce and Industry, said Monday. Al-Sultan met with Bugaria's Economy and Energy Minister Traicho Traikov during the International Energy Forum (IEF) gathering in the Saudi capital, Riyadh. Besides the official Bulgarian delegation headed by Traikov, representatives from the Bulgarian Chamber of Commerce and Industry were present at the...


BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE

BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE
Source: novinite.com - (20/02/2011)

Topics: Real Estate      Real Estate

Residential property prices in Bulgaria have stabilized around the level from last year, while the volume of transactions has begun to increase. According to the Bulgarian National Radio (BNR), the market is driven by buyers who spend between EUR 45 000 and EUR 65 000 for property, real estate agents said. Russians are the main players on the Bulgarian property market, BNR informed. Last year, real estate prices dropped by 25-30% and these are the levels around which the market will...



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