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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

BULGARIA TO END CONTRACT WITH JAPAN CREDIT RATING AGENCY

BULGARIA TO END CONTRACT WITH JAPAN CREDIT RATING AGENCY
(22/09/2010)

Topics: Financial      

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 UPS ITS MINIMUM WAGE TO BGN 270

BULGARIA UPS ITS MINIMUM WAGE TO BGN 270
(22/09/2010)

Topics: Financial      

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 SPA HOTEL RANKED AMONG WORLD'S BEST

BULGARIAN SPA HOTEL RANKED AMONG WORLD'S BEST
(22/09/2010)

Topics: Business      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...


BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES

BULGARIAN WATCHDOG LOWERS INTERNATIONAL ROAMING PRICES
(22/09/2010)

Topics: Business      

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...


BULGARIAN, GREEK ENERGY HEADS TALK GAS PIPELINE LINK

BULGARIAN, GREEK ENERGY HEADS TALK GAS PIPELINE LINK
(22/09/2010)

Topics: Infrastructure      

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...


INDUSTRIAL EXPORT DRIVES BULGARIA'S ECONOMIC BOOST IN 2010 Q3

INDUSTRIAL EXPORT DRIVES BULGARIA'S ECONOMIC BOOST IN 2010 Q3
(22/09/2010)

Topics: Economy      

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...


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

INTER RAO EYES ENEL'S BULGARIA COAL-FIRED PLANT, WIND PARKS
(22/09/2010)

Topics: Economy      

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...


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

TNT, SHELL, PHILIPS COME TOGETHER TO PROMOTE GREEN LIFE IN BULGARIA
(22/09/2010)

Topics: Business      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 PM ENTHUISASTIC ABOUT BELENE NPP IN THE US

BULGARIAN PM ENTHUISASTIC ABOUT BELENE NPP IN THE US
(21/09/2010)

Topics: Economy      

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
(20/09/2010)

Topics: Macroeconomic Data      

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...


BULGARIA, ROMANIA KICK OFF CROSS-BORDER TOURISM PROJECT

BULGARIA, ROMANIA KICK OFF CROSS-BORDER TOURISM PROJECT
(20/09/2010)

Topics: Economy      Tourism

A cross-border project to improve and popularize tourist opportunities in north-east Bulgaria / south-east Romania is starting, reported local authorities at General Toshevo. The project is worth EUR 1.5 M and is joint between General Toshevo in Bulgaria and Negru Voda in Romania. Both towns are in comparatively remote areas of the neighboring countries in the historic Dobrudzha region. The project aims at developing a joint tourist potential for the two municipalities in improving...


BULGARIAN STATE TO INVEST EUR 2.5 B IN CONSTRUCTION 2011

BULGARIAN STATE TO INVEST EUR 2.5 B IN CONSTRUCTION 2011
(20/09/2010)

Topics: Investments      Construction

Bulgaria's construction sector will have about BGN 5 B (EUR 2,5 M) from the state on public procurement projects during 2011, according to Minister of Regional Development Rosen Plevneliev. This is the combined amount of funds from the Ministries of Transport, of Environment, of Regional Development, as well as from local authorities and EU operative programmes, stated Plevneliev at the opening of the new acaemic year in the University of Architecture in Sofia. Plevneliev once again...


CATERPILLAR TO OPEN COMMERCIAL OFFICE IN BULGARIA

CATERPILLAR TO OPEN COMMERCIAL OFFICE IN BULGARIA
(19/09/2010)

Topics: Business      Construction

One of the world's largest manufacturers of construction and mining equipment, engines and turbines, the US company Caterpillar, is going to open a trading office in Bulgaria. This has been agreed during a meeting between Bulgarian Economy Minister Traicho Traikov and two of the Vice Presidents of Caterpillar, Tana Utley and Gregory Folly. Traikov, who is on a several-day visit to Canada and the United States, has had a busy schedule. His meeting with the Caterpillar managers focused...


ECONOMY MINISTER LURES BOEING, MOTOROLA TO BULGARIA

ECONOMY MINISTER LURES BOEING, MOTOROLA TO BULGARIA
(19/09/2010)

Topics: Business      

Bulgaria's Economy Minister, Traicho Traikov, has had important meetings in the USA including with Boeing, Motorola, and the Federal Reserve Bank of Chicago Bank among others. During talks with Boeing's top management, Traikov, who is on a several-day visit to the United States, invited the company to research opportunities for outsourcing in Bulgaria, and for taking part in the privatization of VMZ Sopot, a currently ailing military manufacturing plant which used to be one of Bulgaria's...


MINISTER EAGER TO HAVE US REVIVE BULGARIA'S DEFENSE INDUSTRY

MINISTER EAGER TO HAVE US REVIVE BULGARIA'S DEFENSE INDUSTRY
(19/09/2010)

Topics: Investments      

Defense Minister Anyu Angelov has expressed strong support for his colleague, Economy Minister Traikov, who invited US companies to consider investments in Bulgarian military plants. Earlier on Sunday, it was announced that Traikov, who is in the US, had invited Boeing to study the opportunities for the privatization of the ailing Bulgarian military industrial giant VMZ Sopot. He also invited Motorola to establish a partnership with the Bulgarian government in the field of...


SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010

SOFIA OFFICE MARKET VACANCY RATE TO HIT 25% END-2010
(18/09/2010)

Topics: Business      Real Estate

The vacancy rate of office space in Sofia is expected to rise up to 26-27% by the end of the year with the opening of new buildings, real estate consultancy Regent's Property Advisors forecasts. Adding a significant amount of new offices to the market, the vacancy rate during the first half of the year reached levels of 22% of total stock, equaling to 253,000 sqm, data of the company shows. The largest share of the empty offices still remains in the suburban areas of the city, but the...


9 BANKS IN BULGARIA TO REFINANCE LOANS FOR AGRICULTURE MACHINERY

9 BANKS IN BULGARIA TO REFINANCE LOANS FOR AGRICULTURE MACHINERY
(16/09/2010)

Topics: Economy      Agriculture

Nine commercial banks will participate in a scheme for refinancing of credits for the purchase of agricultural machinery, which will begin operating from September 20, the Bulgarian Agriculture Fund announced. The Agriculture Fund has signed contracts with DSK Bank, United Bulgarian Bank, First Investment Bank, Raiffeisen Bank, MKB Unionbank, Tokuda Bank, UniCredit Bulbank, Central Cooperative Bank and Teximbank. The fund has envisioned BGN 40 M for farmers who have applied for free...


BULGARIA CONFIRMS TO EYE INVESTOR FOR STOCK EXCHANGE

BULGARIA CONFIRMS TO EYE INVESTOR FOR STOCK EXCHANGE
(16/09/2010)

Topics: Investments      

The increase of the Bulgarian government's share in the country's only stock exchange will lead to the sale of its majority stake to an industry investor, the bourse's executive director has admitted, confirming recent speculations. Bulgaria raised the state's stake in the Balkan country's stock exchange as it prepares to sell its majority to an industry investor and offer the rest to the public, said Ivan Takev, the bourse's executive director, said in an interview for Bloomberg...


BULGARIA MUSHROOMING MALLS TOP EU LIST

BULGARIA MUSHROOMING MALLS TOP EU LIST
(16/09/2010)

Topics: Business      

Bulgaria ranked first in the European Union in the number of new shopping malls in the first half of the 2010, a report by Cushman and Wakefield consultancy showed. While in most EU member-states the number of malls is on the slide due to the global economic crisis, their construction has accelerated in Bulgaria, marking a nearly 90% increase over one year. A similar trend is also witnessed in other Balkan states - Bosnia&Herzegovina, Romania, Slovenia, Serbia and Croatia - but the growth...


BULGARIAN ECONOMY MINISTER WOOS INVESTORS IN CANADA

BULGARIAN ECONOMY MINISTER WOOS INVESTORS IN CANADA
(16/09/2010)

Topics: Investments      

Bulgarian Minister of Economy and Energy Traicho Traikov is on official visit to Canada, where he took part in the 21st World Energy Congress in Montreal. Traikov met both Canadian senior state officials and high-ranking business representatives in the fields of energy, engineering and electronic industry, and transport from a number of countries. Among the top topics discussed was the Belene NPP project, which was discussed among others with Areva Group's CEO Anne Lauveregeon. Talks...



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