The EBRD and UniCredit Bulbank announced they will support a modernisation programme and energy efficiency improvements at Bulgaria's Chelopech mine, the largest gold deposit in Europe that is still in production.
The two institutions are providing a loan of USD 66.75 M to the mine operator Chelopech Mining EAD, a wholly-owned subsidiary of Canada's Dundee Precious Metals Inc. Chelopech Mining produces copper-gold-silver concentrate at its mining facilities located approximately 70...
The European Court of Human Rights has ruled in favor of three Bulgarian nationals, who brought a case against Bulgaria, claiming to be successors to shareholders of a brewery in Plovdiv, which was nationalized in 1947.
After eighteen years of court battles, the heirs to shareholders in Bulgaria's earliest commercial brewery "Kamenitza - Frick and Sulzer" enjoy every chance to obtain shares in Kamenitza AD since the Strasbourg court ruling allows them to go to law over the number of shares...
Not a single one of the dozens of doomsday scenarios forecast for Bulgaria's economy and state finances by foreign and Bulgarian observers has materialized, central bank head Ivan Iskrov has declared.
Iskrov, Governor of the Bulgarian National Bank, presented during a seminar in Sofia Friday a ranking of the top 30 bad forecasts for Bulgaria's financial stability that failed materialize in spite of what he described as slander in international media.
"Professional "traders of fear" have...
Borovets, one of the top Bulgarian ski resorts, has announced its prices for the 2010-11 winter season, which have not been raised from last year.
The season in Bulgaria's oldes winter resort will be opened Saturday December 18, when special 50% discounts will be valid.
All-season subscription have even been reduced by 40%, according to Borosport, that manages Borovets facilities. The subscription for adults is EUR 450 (BGN 900), while that for kids is EUR 325.
The one-day card for all...
A delegation from Bulgaria's Northwest, the poorest EU region, has participated in a specially designed investment forum in Bergen, Norway.
The delegation of representatives of local authorities from the "Severozapaden" Region in Bulgaria, including the District Governor of Vidin Plamen Stefanov, and the mayors of the town of Belogradchik and several villages, has met with the Bergen Mayor Gunnar Bakke.
It also took part in an investment forum in Bergen entitled "Bulgaria – New Region for...
Bulgaria will very soon sign an agreement with Turkey and China on the construction of a high-speed railway, which will utilize the transport of Chinese goods to the EU.
This was announced by Bulgaria's Transport Minister Alexander Tsvetkov on the Bulgarian National Television Friday. He explained that the freight trains will have a maximum speed of 250 km/h.
"We will sign a trilateral agreement with Turkey and China, according to which the cargo will pass through the future Bosforus...
The Bulgarian Competition Protection Commission (CPC) has given the green light to the acquisition of leading Bulgarian internet service providers, Megalan Network and Spectrum Net, by M-Tel, the first and biggest mobile operator in the country.
The price of the deal, which was announced in the middle of September, is about EUR 70 M.
M-Tel, which is part of Telecom Austria Group, will acquire 100% of the two Internet providers. However, both companies will continue to work independently...
One of Bulgaria's two major Black Sea ports, Port Burgas, expects to end 2010 with a profit of BGN 2 M.
This would mean an increase of profit by 203% compared with 2009, the port management announced as cited by the Dnevnik daily.
Most of the cargo shipments going through Port Burgas consist of grain, raw materials, scarp, lumber, and equipment and parts of renewable energy plants.
In the recent months, the port started to process again liquid shipments of chemical substances after the...
Bulgarian specialists in the field of geotechnical and tunnel construction have established a specialized association in Sofia.
The new Bulgarian Association for Geotechnical and Tunnel Construction (BAGTC) unites the top Bulgarian experts in the field.
The leading participants in the founding of the new organization include Prof. Bozhidar Bozhinov, honorary chair, and a professor at the Sofia University of Mining and Geology, a major specialists on geotechnical facilities, and Prof....
International credit rating agency Fitch has confirmed the long-term foreign-currency rating of the Bulgarian Development Bank at BBB-.
The rating of the bank is the same with that of the Bulgarian government. It remains with a negative perspective.
Fitch Ratings has also confirmed the short-term foreign currency rating and the individual rating of the Bulgarian development bank.
According to a statement of the Bulgarian Finance Ministry, "the confirmed ratings by Fitch reflect the...
Turkiye Is Bankasi AS, the largest private bank in Turkey, intends to open a branch in Sofia through its subsidiary based in Germany, Isbank GmbH.
This has become clear from a report of the Bulgarian National Bank cited by the Dnevnik Daily, which says that after a notification by the German Financial Supervision Service, Isbank GmbH has started preparations for entering the Bulgarian market.
By using the EU passport of its German subsidiary, the Turkish bank will avoid the procedures...
Bulgaria will launch a direct ferry link with Georgia, Bulgarian Finance Minister Simeon Djankov announced.
This is a step intended to improve the mutual economic relations between the two countries. Another priority is recovering the direct Sofia-Tbilisi flights.
Minister, Djankov is on a two-day visit to the Caucasian country, underlined also the importance of the Nabucco gas pipeline.
"Bulgaria has already ratified the documents necessary in order to launch the Nabucco project....
Bulgaria's PM Boyko Borisov will open Tuesday the rehabilitated road junction near the town of Byala in the Ruse region in northern Bulgaria.
The works were made possible by the BGN 3.5 which were set aside when the State budget 2010 was updated.
Bulgaria's Minister on Regional Development, Rosen Plevneliev, will also be [resent at the opening of the road junction.
The rehabilitation resulted in four lanes, instead of the previous two, an overhaul of the existing pavement,...
Bulgaria and Greece have signed Tuesday a contract for interconnection of their natural gas networks that must be built by 2013, announced Bulgarian Minister of Energy Traicho Traikov.
Speaking after the "Energy without Frontiers" forum held in Sofia, Traikov said that an agreement has been concluded between the Bulgarian Energy Holding and the Greek company IGI Poseidon.
Each of the two companies will have a 50% share of the project, which is estimated at EUR 160 M, 45 of which come from...
Bulgaria and Romania have planned the project for the construction of an inter-system link for the transfer of natural gas in the section Ruse-Giurgiu.
This was stated during the "Energy without frontiers" conference in Sofia on Tuesday.
Bulgarian state owned company "Bulgartransgaz" and Romanian Transgaz are ready with the "road map" for the project and have decided to carry it out faster than previously announced.
Bulgaria sees this inter-system link as an opportunity to diversify...
Russian state nuclear energy company Rosatom has announced it was ready to provide nuclear fuel for Bulgaria's Belene nuclear power plant for the whole period of its exploitation, which is 60 years.
The Rosatom CEO, Sergey Kiriyenko, participated in the conference "Energy without frontiers," organized in Sofia on Tuesday.
He said that Russia could not only provide uranium to Bulgaria, but also purchase it again for recycling.
"I know that Bulgaria is a small country with limited...
The only direct Bulgaria-Russia transport line – the Varna-Port Kavkaz ferry – has seen an increase of freight traffic of 332% in 2010 so far, year-on-year.
This data was presented Monday at the founding session of the Bulgarian-Russian Council for Joint Operation of the Railway Ferry Line between Port Varna and Port Kavkaz, the press service of Bulgaria's state railway company BDZ announced.
The Council has been created in accordance with the Ministries of Transport of Bulgaria and the...
Bulgaria's Finance Minister Simeon Djankov is on a three-day visit to Georgia, the Financial Ministry announced.
On Monday, Djankov is going to participate with a public lecture in a conference entitled "Making a Difference for Entrepreneurs: Reforming Business Regulation in Eastern Europe and Central Asia" in Georgia's capital Tbilisi.
Later, he will meet Georgia's President Mikhail Saakashvili, Prime Minister Nika Giladuri and Finance Minister Kakha Baindurashvili.
Tour operators forecast that Bulgarians will continue to limit the amount of money they spend on vacations through the whole winter season.
According to the forecasts, the number of trips abroad, which has been decreasing since the beginning of 2010, would probably continue the tendency.
The tourism industry in Bulgaria expects that during the upcoming winter season, short vacations would be preferred the most.
Information from the Sofia Airport showed that in 2010 the big tour...
Bulgaria's Competition Protection Commission has approved the request of Austria's biggest banking group, Raiffeisen Zentralbank Austria AG to buy out the Mall Varna shopping and office center in the Black Sea city of Varna.
Raiffeisenbank will thus go ahead with the purchase 100% of Miller Mall Varna One EAD, headquartered in Sofia. RZB is the owner of Raiffeisenbank Bulgaria, which owns Raiffeisen Real Estate.
Raiffeisenbank Austria AG is a holding company of the Raiffeisenbank Group,...