American companies are showing increased interest in various energy projects in Bulgaria and are researching their investment options, the new Bulgarian Ambassador to the USA, Elena Poptodorova told Novinite.com (Sofia News Agency) in an exclusive interview.
Her Excellency, who just started her second term as Bulgaria’s Ambassador in Washington, DC, after serving at the same position in 2002-2008, has pointed out that nuclear energy, renewable energy, and shale gas extraction are being...
Bulgaria is the only country in Europe and Middle Asia with a positive outlook of sovereign credit rating, Moody's rating agency has announced.
Moody's Investor Service published Friday the August edition of the European Sovereign Outlook, which explains the perspectives on sovereign ratings in Europe.
According to the report, Bulgaria's assessment reflects the view of the agency that the country has a potential to reach a higher level of creditworthiness on the scale of investment...
Bulgaria’s energy production from renewable sources by the end of 2010 will be 3 times more than the one in 2009, according to Plamen Dechev from the State Commission for Energy and Water Regulation (DKEVR)
In 2009, Bulgaria produced 800 thousand MGWH from green sources while for the first six months of 2010, this production has already reached 1 million MGWH. According to the expert, in the next few years the share of renewable sources in energy production can reach 17% to...
The main part of the construction of the second Danube bridge between Bulgaria and Romania will be completed by the end of 2011, the Bulgarian Minister of EU Funds has announced.
Minister Tomislav Donchev visited the construction site of the bridge in the Bulgarian city of Vidin on Thursday where he stated that only finishing things will be left for the beginning of 2012.
The 2km Danube bridge, which is a key element of a European transport corridor connecting the German city of Dresden...
The default bank loans in Bulgaria have reached 16% by the end of July, according to data from Bulgaria’s Central Bank, BNB.
The total amount of the so-called bad loans is estimated at BGN 6.2 B and went up by BGN 334 in the month of July, compared to BGN 198 M June, 2010. The record of BGN 424 M, however, was registered in April, 2010.
According to the data, corporate default loans top the list (17%), followed by consumer loans (16%) and mortgages (14%).
The total amount of loans in...
The Ministry of Regional Development and Public Works paid off the amount of BGN 208 mln out of a total of BGN 285 mln which it owes to construction companies for assigned and carried out activities last year. “Out of the remaining BGN 77 mln, about BGN 24 mln are designated for the water mirror in the town of Kardzhali,” said Regional Minister Rosen Plevneliev for the BTV channel yesterday. He explained that the money for the site in Kardzhali will not be paid until the Prosecutor’s...
The demand for land in the Dobrich region considerably exceeds selling offers this summer but the reason is not only the relatively high price of wheat, the Regional Association of Real Estate Agencies (RAREA) claims, BTA (Bulgarian Telegraph Agency) reported.
“At least three potential buyers bid for a land plot,” said Nelly Vassileva, manager of a real estate agency. According to her, agriculture in the region has not been affected by the economic crisis, landowners get pretty good...
The Japanese company Toshiba is planning to invest in construction of solar power plants in the USA and countries in Europe, including Bulgaria.
The company has annouocned it is expecting an income of USD 1,8 B from these investments by March 2016.
Toshiba will begin implementing its investment plan with the construction of a 10 MW solar power plant in Bulgaria, which is expected to begin working in the next financial year.
The plant will be located near the Bulgarian city of Yambol...
In June 2010 compared with May 2010, the EU industrial new orders index rose by 2,4%, according to estimates released by Eurostat, the statistical office of the European Union.
In the Eurozone, new orders increased by 2.5% in June 2010 while in May the index increased by 4.1%.
Excluding ships, railway and aerospace equipment, for which changes tend to be more volatile, industrial new orders grew by 1.6% in the Eurozone and by 1.8% in the E.
In June 2010, compared with June 2009,...
Construction permits issued in Bulgaria in the second quarter of 2010 are up compared to the first quarter, but down on annual basis.
The data was published by the National Statistics Institute (NSI) Monday.
1 441 residential permits have been issued between April and June 2010 for a total of 3 933 apartments. Compared to January – March, 2010, this is an increase of 46% and 41% respectively. On annual basis, compared to the second quarter of 2009 there is a respective reduction of 21%...
The construction of a new plant for the production of biofuels will begin by the end of 2010 in Bulgaria's southern city of Kardzhali.
The information was provided by Yves Crits, CEO of the Belgium company 4Energy Invest, which specializes in renewable energy by creating and managing a portfolio of small to middle-sized locally embedded projects that transform biomass into energy.
Crits is in Kardzhali on the invitation of the Member of the European Parliament, Vladko Panayotov. The CEO...
The German-Bulgarian company SRS Bulgaria will invest close to BGN 500 M to create a wind power park nearby the town of General Toshevo in northeastern Bulgaria.
The investment of the company, registered in the northern Bulgarian city of Pleven, will span over three years 2010-2012 and will open 20 new workplaces.
The project involves constructing and exploitation of a wind power station with 60 generators with 150-180 MW power.
The power generators will be placed nearby General...
Fitch confirmed its credit rating for Bulgaria and characterized the situation in the country as “stable”, announced the Bulgarian Ministry of Finance Thursday.
Fitch Ratings themselves report that Bulgaria's rating stays at F3 for short-term foreign currency, BBB- for long-term foreign currency, and BBB for long-term local currency.
The outlook for the long-term rating of Bulgaria nevertheless also stays "Negative."
Among the main causes Fitch sees for the stability in Bulgaria's...
Sofia, Bucharest and Warsaw are the three most expensive capitals in Europe when measured by the ratio of how much the average resident earns versus the cost of housing, a survey shows.
The average yearly salary in Poland, Romania and Bulgaria is only sufficient to buy a mere one or two square meters in the respective centers of each of the three countries’ capital cities, according to data of the Polish real estate company Home Broker.
With the average yearly salary, a Bulgarian...
"Two buildings of 17 and 24 floors could be built in front of the Bonsist hall close to the University for National and World Economy," said yesterday Architect Boriana Shivacheva from the Civil Association Beli Brezi. She explained that the Detailed Spatial Development Plan (DSDP) of the district of Studentski Grad, adopted last month by the Sofia Municipal Council was a prerequisite for the realization of such works. Shivacheva explained that it was possible that a bulding of 20 floors be...
The opening of new fields in Bulgaria will boost production by 7,500 barrels of oil equivalent per day, Melrose Resources said, as interim pre-tax profits at the Edinburgh-based oil and gas group jumped by more than a third.
Melrose, which has operations in Egypt, Bulgaria, Romania and Turkey, said it produced an average of 40,000 boe/d in the first half of this year, driven by its offshore Egyptian assets.
The group expects to receive a boost when the first of two Bulgarian fields begins...
Czech electric power utility CEZ announced a BGN 0.5 M investment in infrastructure in the resort village Ribaritsa in the Stara Planina mountains in central Bulgaria.
Ribaritsa, close to the town of Teteven, is a favored place for holidays for well-to-do Bulgarians and offers peace and freshness with its old-timey streets and houses and the green Stara Planina hills around it. It also gives many opportunities for hiking in the higher Stara Planina.
The Ribaritsa investment aimed at...
Bulgaria registered once again an inflation of 0.4% on monthly basis in July, after a relatively short period of stability, data published Thursday by the National Statistics Institute (NSI) reveals.
The annual inflation is up 2.4% and was 1.4% in June, 2010.
The higher prices were triggered by cost increase of fuels, electric power, water and gas.
Inflation is up 1.9% since the beginning of the year – January – July, 2010.
If EU standards are used, inflation is even higher –...
A record amount of new commercial space was opened in Bulgaria in the second quarter of 2010, according to a report of Forton International, a property advisory company.
A total of 163 000 square meters of new commercial space was inaugurated in April-June 2010, Forton says, currently estimating the total commercial space in the country at 485 000 square meters.
The new commercial space was mostly the result of the opening of new commercial complexes and shopping malls in Sofia, Varna,...
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