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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

GREECE’S BLUEHOUSE SNAPS UP ERG CAPITAL PORTFOLIOS

GREECE’S BLUEHOUSE SNAPS UP ERG CAPITAL PORTFOLIOS
(03/09/2010)

Topics: Investments      Real Estate

Bluehouse Capital, the Greek private equity real estate investment management firm with a focus in the property markets of South East Europe, is the investor that will pay EUR 27 million to acquire the four properties of Bulgarian real estate investment trusts (REITs) ERG Capital 1 and 2, sources close to the negotiations told Dnevnik. The Greek company has already signed preliminary accords with the REITs, owned by Bulgarian American Investment Fund (BAIF). On Wednesday, BAIF officially...


BULGARIAN PM VOWS TO BUILD 7 HIGHWAYS IN 2 TERMS

BULGARIAN PM VOWS TO BUILD 7 HIGHWAYS IN 2 TERMS
(03/09/2010)

Topics: Infrastructure      Construction

Bulgaria's Prime Minister Boyko Borisov formally launched the construction of the last section of the Trakiya Highway, the first highway to run from Sofia to the Black Sea coast. "There are 7 highway projects in Bulgaria. We will built three highways by the end of our first term (2013 – editor's note), and four highways in our next term," declared Borisov near Yambol at the groundbreaking ceremony of Lot 4, Trakiya's last section linking the city of Yambol and the town of Karnobat. The PM...


BRUSSELS UPBEAT ECONOMIC FORECAST CHEERS BULGARIA

BRUSSELS UPBEAT ECONOMIC FORECAST CHEERS BULGARIA
(02/09/2010)

Topics: Economy      

The European Commission has expressed optimism about the potential of Bulgaria's economy to rebound as officials figures confirmed that the eurozone economy grew by 1% between April and June. "Bulgaria does not threaten the stability of the European economy and the European Commission is upbeat about its recovery," Amadeu Altafaj, spokesman of the European Union Economic and Monetary Affairs Commissioner Olli Rehn, told the Bulgarian National Radio on Thursday. The statement followed the...


BULGARIA: NO NEED FOR IMF BAILOUT TALKS BY 2012

BULGARIA: NO NEED FOR IMF BAILOUT TALKS BY 2012
(02/09/2010)

Topics: Financial      

Bulgaria's finance minister has assured that the country will have no need to hold talks with the International Monetary Fund over a bailout loan for its ailing economy in the next two years. "There will be no need for a loan not only this year, but the next two years as well," Minister Simeon Djankov said on Thursday. "In terms of its economic policy the Bulgarian government is doing just as fine as the bigger part of the EU member states," he said, adding that he expects to see a return...


ERG CAPITAL FUNDS STIR UP ACTION ON BULGARIAN BOURSE

ERG CAPITAL FUNDS STIR UP ACTION ON BULGARIAN BOURSE
(02/09/2010)

Topics: Financial      

The first day of September spurred drowsy investors on the Bulgarian Stock Exchange (BSE) into action with a bunch of exciting corporate news. ERG Capital 1 and ERG Capital 2, the real estate investment trusts (REITs) of Bulgarian American Credit Bank (BACB), gained 36.92% to BGN 3.56, and 47.17% to BGN 3.90, respectively. But volumes were a slim 500 and 1,000, respectively. BACB itself advanced by 2.95% to BGN 11.20 apiece on expectations of a possible sell-off after current majority...


OVER BGN 2M EU PROJECTS TO GET FIRST-CLASS INVESTOR STATUS

OVER BGN 2M EU PROJECTS TO GET FIRST-CLASS INVESTOR STATUS
(02/09/2010)

Topics: Investments      

EU-financed projects worth more than BGN 2 million should be considered first-class investments, a move that would double the speed of administrative servicing, according to Tomislav Donchev, Bulgaria’s minister in charge of EU funds absorption. Alongside fast-track administrative support, Bulgaria’s first-class investors also get the right to purchase state property with no tender of competition as well as receive government assistance in infrastructure development adjoining their...


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 – 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 Creditex’ 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 MW—180 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...



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