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Invest Bulgaria News Directory

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  FEATURED NEWS    
BULGARIA DELAYS EURO ADOPTION BY TWO YEARS AT LEAST

BULGARIA DELAYS EURO ADOPTION BY TWO YEARS AT LEAST
(13/07/2012)

Topics:

Bulgaria's finance minister, who was initially targeting rapid accession to the euro zone, has confirmed the country is in no hurry to adopt the single currency. "We will not make any move toward the switchover in the next two years," Simeon Djankov told reporters in Vienna on Thursday. The statement is in line with the opinion of local analysts, who have tried to tone down the cabinet's enthusiasm for adopting rapidly the common European currency, saying it makes more sense for the...


BULGARIA'S FDI UP FOR THE PERIOD JAN-MAY 2012

BULGARIA'S FDI UP FOR THE PERIOD JAN-MAY 2012
(16/07/2012)

Topics:

Bulgaria has registered an increase in its foreign direct investment in January-May 2012 year-on-year, according to the latest data of the Bulgarian National Bank released on Monday. According to the Bulgarian National Bank's preliminary data, the foreign direct investment in Bulgaria for January - May 2012 increased by EUR 473.8 M (1.2% of GDP), compared to an increase of EUR 72.2 million (0.2% of GDP) for January – May 2011. Bulgaria's attracted Equity Capital (acquisition/disposal of...


BULGARIA'S CURRENCY BOARD IS SUPER STABLE
(12/01/2013)

Topics:

Bulgaria's Currency Board Is Super Stable (Sofia, Jan 12) - "The currency board functioning in Bulgaria is super-stable," the monthly analysis of Raiffeissen Bank Bulgaria reads. The experts have calculated that at the end of November 2012 the currency board's reserves amount to 15.1 billion euro, which is an increase by 2.2 million euro from a month ago. The board's reserves have increased by 1.9 billion euro (14.4%) year-on-year, which is a surplus of about 89% to the minimum...


WALL STREET LEGEND JIM ROGERS MULLS INVESTING IN BULGARIA

WALL STREET LEGEND JIM ROGERS MULLS INVESTING IN BULGARIA
(14/04/2015)

Topics:

Wall Street legend and highly successful international investor, author and commodities expert, Jim Rogers has said he is considering investing in Bulgaria. Bulgaria is among the few countries, in which he is considering investing right now, since they have made the most improvement since his latest trip around the world, the billionaire, currently based in Singapore, said in an interview for Gold Radio Caf?. He joined the broadcast for a brief discussion on his new book "Street Smarts:...


ITALIAN COMPANIES TO JOIN PRIVATIZATION PROJECTS IN BULGARIA – ECONOMY MINISTER

ITALIAN COMPANIES TO JOIN PRIVATIZATION PROJECTS IN BULGARIA – ECONOMY MINISTER
(15/04/2015)

Topics:

Italian companies may be attracted in privatization projects, including for tourist sites, as well as concessions agreements and modernization schemes for airports, and construction and reconstruction of road and railway infrastructure in Bulgaria, according to Minister Bozhidar Lukarski. Speaking Tuesday at the opening of an economic forum titled “Bulgaria and Italy: Together for Achieving Growth”, Lukarski pointed out that the trade and economic cooperation between Bulgaria and Italy was...


WE HOPE INFRASTRUCTURE FOR NON-HAZARDOUS HOUSEHOLD WASTE TREATMENT BE COMPLETED IN 2016: BULGARIA MINISTER

WE HOPE INFRASTRUCTURE FOR NON-HAZARDOUS HOUSEHOLD WASTE TREATMENT BE COMPLETED IN 2016: BULGARIA MINISTER
(15/04/2015)

Topics:

“The opportunities OP Environment provides in the previous and the new programme periods establish prerequisites for a huge volume of work on designing and construction of ecological infrastructure as well as possibilities for the state to tackle challenges,“ said Ivelina Vasileva, Bulgarian Minister of Environment and Water, speaking at an annual conference themed “Strategic infrastructure and investments – Bulgaria and the Western Balkans“, FOCUS News Agency reported. “In the sphere of waste...




MORE STORIES
BULGARIA PLANS TO FIGHT CRISIS WITH CULTURE TOURISM

BULGARIA PLANS TO FIGHT CRISIS WITH CULTURE TOURISM

Topics: Tourism

Bulgaria will advertise its culture and historical heritage with video clips and films, will start issuing licenses to tour guides while the cabinet will invest in the infrastructure of the tourist sites. Bulgarian ministers, archeologists, businessmen and tour operators joined around these ideas Sunday, during a national debate on the culture tourism, organized by the Bulgarian daily "Standart," held in the Arena di Serdika hotel in downtown Sofia. Finance Minister, Simeon Djankov,...


INTERNATIONAL TECHNOLOGY FAIR OPENS IN BULGARIA'S PLOVDIV

INTERNATIONAL TECHNOLOGY FAIR OPENS IN BULGARIA'S PLOVDIV

Topics: Automotive

The International Technology Fair opens Monday in Bulgaria's second largest city of Plovdiv with participants from over 41 countries. The number of companies with displays is estimated at 1 600. The car showroom includes 29 importers with over 40 automobile brands. The Intermin Expo dedicated to the mining industry is a first for the Fair. The conference and debate titled "Stable Development of the Mining Industry in Central and eastern Europe" is held Monday in the Bulgaria Hall at...


BULGARIA'S UNEMPLOYMENT DOWN TO 9,07% IN SEPTEMBER

BULGARIA'S UNEMPLOYMENT DOWN TO 9,07% IN SEPTEMBER

Topics:

The unemployment rate in Bulgaria in September has dropped to 9,07%, announced Labor Minister Totyu Mladenov. According to him, there are currently about 3000 available job positions. He also added that the unemployment is decreasing slowly but steadily in the past seven months. Statistics show that since February unemployment has dropped from 10,26% to about 9%. About 6000-7000 people are expected to be left without jobs after the seasonal employment during the summer is over....


BULGARIA'S BALCHIK BOASTS 30% MORE FOREIGN TOURISTS

BULGARIA'S BALCHIK BOASTS 30% MORE FOREIGN TOURISTS

Topics: Tourism

Bulgaria's northern Black Sea resort welcomed 156 000 foreign tourists in May-August, 2010. This is a 30% increase year-on-year, according to data from the Balchik Municipality showing that the tourists visiting the town in the same period of 2009 were 122 000. The number of night stays in local hotels also grew substantially from 692 000 in the summer of 2009 to 952 000 this summer. The largest number of foreign visitors to Balchik came from Romania, followed by Russia, Germany,...


SERBIA READY TO START BUILDING SOUTH STREAM

SERBIA READY TO START BUILDING SOUTH STREAM

Topics:

Serbia is about ready to start the construction of the South Stream gas transit pipeline, announced the head of the Srbijagas company Dusan Bajatovic. Bajatovic told the Bulgarian National Radio Saturday that Serbia will be the first country in Europe to start building South Stream. He predicted that the Russian-sponsored pipeline will ready in 2015, while also pointing out there were no problems at present on part of Russia's Gazprom or on part of Bulgaria about the route of the...


BULGARIAN SUPREME COURT CONFIRMS SOFIA WASTE PLANT BID

BULGARIAN SUPREME COURT CONFIRMS SOFIA WASTE PLANT BID

Topics: Waste Management

The Bulgarian Supreme Administrative Council (VAS) ruled Friday to give final approval of the order of the Mayor of Sofia, Yordanka Fandakova, for the selection of the winning bidder to build the city's waste processing plant. With this rule the Sofia City Hall can now sign the contract with the consortium between the Bulgarian "Stanilov" company and the German "Heilit", who offered BGN 209 M, and was afterwards attacked with appeals by the rejected competitors. VAS rejected the...


BULGARIA PLANS TO ISSUE BONDS WORTH EUR 1 B IN 2011

BULGARIA PLANS TO ISSUE BONDS WORTH EUR 1 B IN 2011

Topics:

Bulgaria is planning to sell bonds amounting to EUR 1 B on the international market in 2011 to shore up its finances, according to a finance ministry draft paper, cited by local media. Bulgaria aims to have a budget deficit of 2.5% of gross domestic product and a growth of 3.6% in 2011, according to the budget draft. In June, the center-right cabinet revised the state budget increasing its 2010 target for deficit to 4.8% of GDP on a cash basis and 3.9% of GDP under EU accounting rules,...


BULGARIAN SPA HOTEL RANKED AMONG WORLD'S BEST

BULGARIAN SPA HOTEL RANKED AMONG WORLD'S BEST

Topics: Tourism

A Bulgarian hotel, the Grand Hotel & SPA Primoretz Burgas, has been placed among the world's 28 best spa hotels by a Germany-based not-for-profit international association. The European Audit Institute Wellness & SPA e.V., located in Bad Wildingen, Germany, has issued its "Wellness & Spa Europe Certificate" to the Primoretz Hotel. A total of 28 hotels worldwide, of which 10 in Europe, are holders of the Certificate. The Burgas spa hotel has managed to acquire a "Premium" quality...


TNT, SHELL, PHILIPS COME TOGETHER TO PROMOTE GREEN LIFE IN BULGARIA

TNT, SHELL, PHILIPS COME TOGETHER TO PROMOTE GREEN LIFE IN BULGARIA

Topics: Renewable Energy

Three top global Dutch-based companies – TNT, Shell, and Philips – have presented their green initiatives in Sofia in order to promote environmental protection in Bulgaria. The event was dedicated to the world Sustainability Day and was part of the Week of the Netherlands 2010 organized under the patronage of the Embassy of the Kingdom of the Netherlands in Bulgaria. The visitors of the joint event of TNT, Shell and Philips at the Hilton Hotel in Sofia had the opportunities to learn in...


BULGARIAN, GREEK ENERGY HEADS TALK GAS PIPELINE LINK

BULGARIAN, GREEK ENERGY HEADS TALK GAS PIPELINE LINK

Topics:

The Bulgarian and Greek ministers in charge of energy are meeting in Thessaloniki Wednesday in order to coordinate the project for connecting the natural gas pipeline networks of the two countries. The Bulgarian Minister of Economy, Energy, and Tourism Traicho Traikov together with his deputy in charge of energy Mariy Kosev are meeting with Greece's Minister for the Environment, Energy and Climate Change Tina Birbili, the press service of the Economy Ministry announced. The major goal of...


AUGUST TURNOVER IN BULGARIA UP BGN 1 B Y/Y

AUGUST TURNOVER IN BULGARIA UP BGN 1 B Y/Y

Topics:

Turnover in Bulgaria is up BGN 1 B in August 2010, compared to the same month in 2009, data of the National Revenue Agency (NRA) shows. The data comes from the August declarations of businesses registered under the Value Added Tax (VAT), which had a September 14 deadline for submission with NRA. Data further shows the August 2010 price of companies' products without VAT (tax base) has been BGN 1.4 B compared to BGN 13.3 B a year ago. NRA say the improved results stem from their regular...


INDUSTRIAL EXPORT DRIVES BULGARIA'S ECONOMIC BOOST IN 2010 Q3

INDUSTRIAL EXPORT DRIVES BULGARIA'S ECONOMIC BOOST IN 2010 Q3

Topics:

Bulgaria's industrial export is the key factor for the recovery of the economy but its structure is nonetheless a matter of concern, according to a report of the Sofia-based Center for Economic Development. Experts from the CED presented Thursday in Sofia their quarterly report for the condition of the Bulgarian economy. They say that Bulgaria's economy grew by 1% in the third quarter of 2010 year-on-year, and will register a near zero-growth in 2010 altogether. The economy started...


18 BULGARIAN COMPANIES MAKE IT TO TOP 500 IN CEE

18 BULGARIAN COMPANIES MAKE IT TO TOP 500 IN CEE

Topics:

A total of 18 Bulgarian companies are ranked among the biggest 500 in Central and Eastern Europe, according to Coface's annual ranking. The most highly ranked Bulgarian entry, the Bulgarian refinery of Russian oil company Lukoil Neftochim has come in 35th on the list of the 500 largest companies in the region. Lukoil Bulgaria, which trades in the refinery output, is ranked 55th. The state owned Bulgarian National Electricity Company (NEK) is ranked 67th. Manufacturing company Aurubis is...


INTER RAO EYES ENEL'S BULGARIA COAL-FIRED PLANT, WIND PARKS

INTER RAO EYES ENEL'S BULGARIA COAL-FIRED PLANT, WIND PARKS

Topics:

Russia's state power trader Inter RAO wants to acquire not only the majority stake of Italian energy giant Enel in Maritsa East 3, a Bulgarian coal-fired plant, but also its wind parks near the Black Sea coast, according to reports. "We will offer in exchange the Russian government's stake in Russian power producer OGK-5, controlled by Italy's Enel," Boris Kovalchuk, Chairman of Management Board at Inter RAO UES, said, as cited by Moscow-based Komersant newspaper. Italian energy major...


BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES

BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES

Topics:

Bulgaria's Commission for Communications Regulation (KRS) mandated Monday the three mobile operators to reduce their wholesale prices for incoming international cell phone calls. Beginning April 1, 2011, the price will be BGN 0.13 a minute i.e. at the level of the national roaming calls. The changes relate to the price international telecoms must pay to M-Tel, Globul and Vivacom for calls in their networks and would not be felt by the consumers. The KRS economic analysis has shown the...


BULGARIA TO END CONTRACT WITH JAPAN CREDIT RATING AGENCY

BULGARIA TO END CONTRACT WITH JAPAN CREDIT RATING AGENCY

Topics:

Bulgaria's Cabinet has authorized Finance Minister Simeon Djankov to terminate the existing contract with the Japan Credit Rating Agency (JCRA). JCRA has been one of the four international credit rating agencies that Bulgaria's government has had contracts with; at present, Bulgaria has contracts for credit rating services only with Moody's and Standard & Poor's, after in 2010 Djankov moved to terminate the contract with Fitch. The credit rating service agreement between Bulgaria and JCRA...


BULGARIA SAID TO OFFER BEST-VALUE SUMMER TOURISM PACKAGES IN EU

BULGARIA SAID TO OFFER BEST-VALUE SUMMER TOURISM PACKAGES IN EU

Topics: Tourism

Bulgaria offers the best prices for vacations in the EU this summer, according to Blagoy Ragin, head of the Bulgarian Association of Restaurant and Hotel Owners. The Bulgarian tourist business expects at least 10% more foreign tourists in 2011 compared with 2010, Ragin told the Cross news agency. The head of the Restaurant and Hotel Owners' Association stressed that Bulgaria's tourist sector is looking forward to the completion of the Trakiya Highway (expected in 2012) – connecting Sofia...


BULGARIA UPS ITS MINIMUM WAGE TO BGN 270

BULGARIA UPS ITS MINIMUM WAGE TO BGN 270

Topics:

Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137). According to the country's Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector's expenses will be much higher, the Dnevnik daily points out. Some 120 000 Bulgarians officially receive minimum wage in Bulgaria, according to the country's National Statistical Institute. A total of 20 000 of them are on a state...


BULGARIAN PM ENTHUISASTIC ABOUT BELENE NPP IN THE US

BULGARIAN PM ENTHUISASTIC ABOUT BELENE NPP IN THE US

Topics:

Bulgarian PM Boyko Borisov said that Bulgaria is eager to start building its new Belene NPP during talks with US energy envoy for Eurasia Richard Morningstar. The two met on Borisov's official trip to the USA to participate in the Millenium Goals discussion at the UN and discussed Bulgaria's participation in strategic energy projects. Morningstar expressed satisfaction at the level of strategic cooperation and friendly partnership between the USA and Bulgaria. The two discussed matters...


BULGARIA'S ECONOMIC FREEDOM AVERAGE IN EU - STUDY

BULGARIA'S ECONOMIC FREEDOM AVERAGE IN EU - STUDY

Topics:

Economic freedom in Bulgaria ranks 15th among the 27 members of the EU and 36th in the world for 2008, show the results of a Fraser Institute study released Monday. The Economic Freedom of the World 2010 Annual Report summarizes results for 2008 that show global economic freedom marginally decreasing at the onset of the crisis (from 6,74 out of 10 for 2007 to 6,67 for 2008). Bulgaria's result is 7.31 for 2008 and has been marking a steady increase since 1990. The top three EU countries...



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