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INVEST BULGARIA INVESTMENT NEWS:     •       Topic:   (1384 stories found)

PART OF THE LOCAL TAXES COULD BE INVESTED IN THE RESORTS

PART OF THE LOCAL TAXES COULD BE INVESTED IN THE RESORTS
(02/09/2010)

Topics: Investments      Tourism

Part of the deductions of the business sector for local taxes should be granted for investments in the Bulgarian resorts - this is one of the proposals for amendments to the legislation drawn by the Union of Owners of Sunny Beach (UOSB) and the Bulgarian Hotel and Restaurant Association. According to Elena Ivanova, UOSB Chairwoman, in the first place, certain criteria should be prepared and they should determine which resorts are national resorts. Currently, they are defined as settlements of...


UK JKX SPUDS BULGARIAN WELLS

UK JKX SPUDS BULGARIAN WELLS
(02/09/2010)

Topics: Business      

Britain's JKX Oil & Gas, the operator of the B1-Golitza license in Bulgaria, began on Thursday a two-well drill program in the country to test targets with an estimated resource of up to 60 billion cubic feet (Bcf). The Staro Oryahovo South R-1 well will be drilled to test a submarine fan target of Eocene age in the Kamchia Basin, south west of Varna, Bulgaria. Drilling is planned to complete by the end of September when the rig will move to the Shkorpilovtci South West R2 location, 5km...


BULGARIA GIVES GO-AHEAD TO TRAKIYA HIGHWAY LAST SECTION

BULGARIA GIVES GO-AHEAD TO TRAKIYA HIGHWAY LAST SECTION
(02/09/2010)

Topics: Infrastructure      Construction

Bulgaria's prime minister will launch the construction works of the last section of Trakiya highway, linking the city of Yambol and the town of Karnobat, with a groundbreaking ceremony on Friday. The Bulgarian Road Infrastructure picked "Holding Roads" as winner in the tender for building of the 49km section of Trakiya Highway, also known as Lot 4. The offer of the Bulgarian company is BGN 174,705,600 M, VAT excluded. Bulgaria's tie-in "Unified Highway Trace" won the tender for the...


BULGARIAN BOURSE UP, FOREIGN MARKETS BATH IN BLOOD RED

BULGARIAN BOURSE UP, FOREIGN MARKETS BATH IN BLOOD RED
(01/09/2010)

Topics: Financial      

The Bulgarian Stock Exchange (BSE) turned green on Wednesday amid a slight uptick in trading activity. Meanwhile, global markets remained bloody red, not buying promises by both lawmakers and financiers they would do whatever is necessary to shore up economic recovery. In Sofia, the broader BG40 index was the best performer with a 1.21% rise to 111.95 points as the others inched up by some 0.5%. The main contributors were liquid stocks such as Synergon holding and Corporate Commercial...


GDF SUEZ GEARS FOR SALE OF BULGARIAN ELECTRICITY IN REGION

GDF SUEZ GEARS FOR SALE OF BULGARIAN ELECTRICITY IN REGION
(01/09/2010)

Topics: Business      

The Romanian unit of energy company GDF Suez has submitted an application for a licence to enter the Bulgarian power market, the State Energy and Water Regulatory Commission (SEWRC) said on Tuesday. The company explained the timing has to do with the pick-up the market is experiencing at the moment, noting that it plans to sell electricity oversees and not in Bulgaria. Plans call for purchasing power from Bulgarian generators and sell it on in Romania, Greece and Turkey. In a report...


LATEST COIN COMMEMORATING 125 YEARS OF BULGARIAN UNIFICATION REVEALED

LATEST COIN COMMEMORATING 125 YEARS OF BULGARIAN UNIFICATION REVEALED
(01/09/2010)

Topics: Financial      

The mintage of the coin is 5000 pieces. The coin surprised collectors with it sporting a gold plated design, while previous announcements did not hint that such will be available. The interesting fact here is this will be the lowest ever mintage for a Bulgarian gold plated coin. The coin has an interesting, original and different design. We expect a serious interest in it by Bulgarian commemorative coin collectors. The obverse of the coin features the logo of the Bulgarian National Bank...


RESERVE GREENHOUSE GAS QUOTAS TO BE AWARDED TO BRIKEL TPP.  HRISTO KOVACHKI HAS COMMITTED HIMSELF TO INVESTING ?38 MLN IN NEW FGD PLANTS

RESERVE GREENHOUSE GAS QUOTAS TO BE AWARDED TO BRIKEL TPP. HRISTO KOVACHKI HAS COMMITTED HIMSELF TO INVESTING ?38 MLN IN NEW FGD PLANTS
(01/09/2010)

Topics: Business      

Bulgaria will inquire with the European Commission whether it would be possible to provide free quotas of greenhouse gas emissions from the State reserve for new market entrants to Brikel TPP (Thermoelectric Power Plant ) in order to enable the company to continue operating. The issue was discussed at a meeting attended by Traicho Traikov, Minister of Economy, Energy and Tourism, Nona Karadjova, Minister of Environment and Water, trade unions and the businessman Hristo Kovachki...


WESTERN BULGARIA AND THE ENERGY SECTOR ARE MOST ATTRACTIVE FOR INVESTMENTS

WESTERN BULGARIA AND THE ENERGY SECTOR ARE MOST ATTRACTIVE FOR INVESTMENTS
(01/09/2010)

Topics: Investments      

Western Bulgaria and the energy sector are most attractive for investments, shows an analysis of InvestNet.bg ľ the Bulgarian investment and business network. Information activities and telecommunications are also attractive to businesses and the health care sector is next in the ranking. A pilot study for the third quarter of 2010, shows that the investment activity in the country is unlikely to improve before the end of the year. Entrepreneurs described the high unemployment, the...


BULGARIA'S KEY CHIMIMPORT GROUP MARKS MARGINAL UP IN PROFITS

BULGARIA'S KEY CHIMIMPORT GROUP MARKS MARGINAL UP IN PROFITS
(31/08/2010)

Topics: Business      

The Bulgarian Chimimport Holding group has registered a 3% growth in net profits for the first half of 2010 notwithstanding greatly decreased revenue for the period. Chimimport has registered a 20% drop in income due to shrinking in its non-financial activities, especially in transportation, which has shrunk 14%. In the transportation sector, Chimimport holds Bulgaria Air, Hemus Air and Air Ban. Revenue from interest and insurance on the other hand has grown, mostly from Armeec...


BULGARIA OFFICE PURCHASE COSTS AS MUCH AS LEASE

BULGARIA OFFICE PURCHASE COSTS AS MUCH AS LEASE
(30/08/2010)

Topics: Business      Real Estate

There is no difference in the expenses made for buying an office by a mortgage in Bulgaria and leasing it, according to non-banking financial institution Creditex, part of the Bulgarian unit of Dutch-based TBI Financial Services. The company anticipates pick-up in the Bulgarian business property market due to changes in the ratio between selling prices and rents. Around 16 percent of Creditexĺ loan portfolio covers investment properties. While lease prices are lower than in 2008 and loan...


BULGARIAN TOBACCO COMPANY REGISTERS HUGE PROFIT INCREASE

BULGARIAN TOBACCO COMPANY REGISTERS HUGE PROFIT INCREASE
(30/08/2010)

Topics: Business      Agriculture

Bulgartabac, Bulgaria's state tobacco company, has registered a 165.93% increase in net profit for the first half of 2010 in comparison with the same period last year. Bulgartabac's financial statements attribute that to considerable increase in exports and optimization of costs. Net profits for the first half of 2010 amount to BGN 7.5 M, with more than five-sixths of the production going for exports. Exports have increased 56% in volume and about 80% in terms of revenue. Sales for...


ECONOMY MINISTER BACKS BULGARIA'S FORMULA 1 PROJECT

ECONOMY MINISTER BACKS BULGARIA'S FORMULA 1 PROJECT
(30/08/2010)

Topics: Investments      Construction

Bulgaria's Economy and Energy Minister, Traicho Traikov, fully backed the cabinet's plans to build a Formula 1 racing track near Sofia. In a Wednesday interview for the TV channel Nova Televizia, Traikov stated great results are only brought by great goals, referring to the Formula 1 project. On August 30, the Minister and the Chair of the Abu Dhabi state company Emirates Associated Business Group (EABG), Mohammed Abdul Jalil al Blouki, signed an economic cooperation memorandum providing...


GERMAN-BULGARIAN FIRM TO BUILD 180 MW WIND FARM

GERMAN-BULGARIAN FIRM TO BUILD 180 MW WIND FARM
(30/08/2010)

Topics: Investments      Renewable Energy

German-Bulgarian company SRS-Bulgaria EOOD will plunk BGN 483.7 million in the construction of wind power plant near General Toshevo, in the east of the southeast European country. The 60-turbine Spasovo wind farm, with a nameplate capacity of 150 MWŚ180 MW, will stomach BGN 6.5 million in 2010 and a further BGN 292.6 million and BGN 186 million in the following two years, respectively. The project will create 20 jobs. Construction works are scheduled for completion in...


METAL AND ENERGY TRANSPORTERS RAISE INFLATION BY 9%

METAL AND ENERGY TRANSPORTERS RAISE INFLATION BY 9%
(30/08/2010)

Topics: Economy      

The National Statistical Institute (NSI) registered inflation in the manufacturing industry of 9 % on an annual basis in July. This is the largest increase in the index since the beginning of 2009 when NSI implemented a new methodology for its calculations. The main reasons for the jump in the index are the rise of 15.1% in the extractive industry, the growth of 12.5% in manufacture and the distribution of electric and heat power, as well as the 6.9% increase in the processing industry. For...


TRACE GROUP BOOKS BGN 3.4 MILLION PROFIT

TRACE GROUP BOOKS BGN 3.4 MILLION PROFIT
(30/08/2010)

Topics: Business      Construction

Bulgarian construction company Trace Group Hold unveiled double turnover and a profit of BGN 3.4 million for the first six months of the year, turning from a year-ago loss of BGN 2.3 million. Turnover between January and June 2010 added up to BGN 93.4 million. Operating expenses surged by 87% to BGN 90.4 million. In its earnings report, the group did not specify the projects that fuelled the increase in revenue. Its most recent contracts include the Trakiya motorway section linking Stara...


WORLD BANK PRESIDENT ROBERT ZOELLICK PRAISES BULGARIA TO BRUSSELS

WORLD BANK PRESIDENT ROBERT ZOELLICK PRAISES BULGARIA TO BRUSSELS
(30/08/2010)

Topics: Politics      

"I was really impressed by the speed at which Prime Minister Boyko Borissov and his Government are implementing reforms. The Prime Minister of Bulgaria is trying to improve the effectiveness of the judiciary and his team is focused on achieving real and tangible results of the economic reform in the country." This is stated in a special letter of World Bank President, Robert Zoellick, to the President of the European Commission, Jose Manuel Barroso, reports Focus News. In the letter, the Head...


PETER ANDRONOV, CHIEF EXECUTIVE DIRECTOR OF CIBANK: BAD AND RESTRUCTURED LOANS IN BULGARIA ARE BELOW 12%

PETER ANDRONOV, CHIEF EXECUTIVE DIRECTOR OF CIBANK: BAD AND RESTRUCTURED LOANS IN BULGARIA ARE BELOW 12%
(29/08/2010)

Topics: Financial      

Mr. Andronov, BNB (Bulgarian National Bank) statistics reported that bad loans had marked a dramatic jump to BGN 6.2 bn, or nearly 16% of the total volume of loans in July. What caused this increase? - I have no idea why the figure 15.94% has been circulated. Obviously, it was calculated by some financial reporter and widely copied by other media. Indeed, if BNB monetary statistics is read properly, it proves that it allots a share of below 12% to bad loans and restructured loans pursuant to...


WESTERN INVESTOR WILLING TO INVEST A TOTAL OF ?10 BN IN THE PORT OF BURGAS

WESTERN INVESTOR WILLING TO INVEST A TOTAL OF ?10 BN IN THE PORT OF BURGAS
(29/08/2010)

Topics: Investments      

A very large Western investor has expressed interest in one of the terminals of the Port of Burgas and is willing to invest a total of ?10 bn, became clear yesterday after the meeting on the development of the ports in Varna and Burgas, Ruse and Lom. It was attended by Prime Minister Boyko Borissov, Deputy PM and Minister of Finance Simeon Djankov, Minister of Economy, Energy and Tourism Traycho Traykov, as well as by Deputy Minister of Transport Kamen Kichev, experts and MPs. The future of...


BULGARIAN HOTELS UP FOR SALE OVER UNPAID MORTGAGE DEBTS

BULGARIAN HOTELS UP FOR SALE OVER UNPAID MORTGAGE DEBTS
(28/08/2010)

Topics: Real Estate      Tourism

Unpaid mortgage has forced the sale of a hotel at the coastal complex Chaika, near the town of Varna, and its owners are looking for buyers, who will fork out a whopping BGN 2.5 M. A check in the registry for public sales of the Bulgarian chamber of private enforcement agents shows that this is the most expensive property, whose sale has been prompted by unpaid mortgage. ôAlen Makö hotel is owned by a Sofia-based company and spreads over 8474 square meters, including a pool and a bar. The...


BULGARIAN STOCK MARKET CATCHES WHIFF OF OPTIMISM

BULGARIAN STOCK MARKET CATCHES WHIFF OF OPTIMISM
(27/08/2010)

Topics: Financial      

Investor interest in the Bulgarian Stock Exchange (BSE) returned slowly and feebly on Thursday when the benchmark index SOFIX finished almost 1% higher at 387.18 points after six negative sessions. The other indices also made it to positive territory, with Dnevnik 20 of the biggest and most liquid stocks gaining 0.69% to 55.36 points and the broader BG40 adding 1.4% to 110.88 points. Growth was fuelled by state-owned tobacco monopoly Bulgartabac Holding, which rallied by almost 8%, and...



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