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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

SOFIA'S OFFICE SPACE MARKET SEES OVERSUPPLY IN H1 2011

SOFIA'S OFFICE SPACE MARKET SEES OVERSUPPLY IN H1 2011
(01/08/2011)

Topics: Business      Real Estate

Several years will be needed for the new office space in the Bulgarian capital Sofia to be absorbed by the market, according to a report of Colliers International. The total area of "modern office space" in Sofia has reached 1.378 million square meters in the first half of 2011, a growth of 5% year-on-year, with many new buildings completed in the outskirts of the city, reveals the report of Colliers International, a real estate consultancy. About 65% (898 000 square meters) of the office...


UK COMPANY VOUCHES TO BUILD NEW SOFIA PRISON

UK COMPANY VOUCHES TO BUILD NEW SOFIA PRISON
(01/08/2011)

Topics: Investments      Construction

The British company Farans Construction Ltd has sent a letter to the Bulgarian cabinet, stating it is willing to build a new prison in Sofia. The company, based in Ireland, cited by the Bulgarian daily 24 Chassa (24 Hours), informs it can build two prison complexes for 2 000 inmates in 30 months. The company has experience if the construction of prisons, public buildings and bridges. The Bulgarian Justice Ministry announced, as early as November 2009, it was looking for a land plot and...


STATE OF ART SPORTS ARENA OPENS IN SOFIA

STATE OF ART SPORTS ARENA OPENS IN SOFIA
(30/07/2011)

Topics: Sports      

Bulgaria's Prime Minister, Boyko Borisov, officially opened Saturday the brand-new Sofia sports facility "Armeets Arena. The Mayor of Sofia, Yordanka Fandakova, and the Minister of Sports and Youth, Svilen Neykov, also attended the ceremony. They all watched the first ever sports competition to be held in the hall – a friendly game between the men national volleyball teams of Bulgaria and Serbia. On Friday, the organizers of the opening ceremony took journalists on a 52-meter-high...


'FATHER' OF BULGARIA'S CURRENCY PEG BACKS FINMIN IN EURO DELAY

'FATHER' OF BULGARIA'S CURRENCY PEG BACKS FINMIN IN EURO DELAY
(30/07/2011)

Topics: Financial      

Steve Hanke, the architect of Bulgaria's currency regime and one of the opponents of its Eurozone aspirations says the reason for the good state of the Bulgarian economy is the disciplining role of the currency board. Hanke spoke Saturday in an interview for the Bulgarian National Radio, BNR, agreeing with statements of the Bulgarian Deputy Prime Minister and Finance Minister, Simeon Djankov, that at this stage Bulgaria will refrain from applying for Eurozone membership. Djankov announced...


BULGARIAN PM BACKS LUKOIL LICENSE SUSPENSION, SAYS MINISTERS SHOULD SECURE FUEL

BULGARIAN PM BACKS LUKOIL LICENSE SUSPENSION, SAYS MINISTERS SHOULD SECURE FUEL
(29/07/2011)

Topics: Business      

Bulgarian Prime Minister Boyko Borisov has dubbed the revoked licenses of the two tax warehouses of Lukoil "a test" for the ministers". "Now we shall see if they were right in claiming that imported fuel is cheaper and the Burgas-based Neftochim refinery is not vital given that it fails to observe the law", Borisov said in a phone interview for the morning broadcast of private TV channel bTV. Deputy Prime Minister and Finance Minister Simeon Djankov and Traicho Traikov, Minister of...


RUSSIA LIFTS BAN ON VEGETABLE IMPORTS FROM BULGARIA

RUSSIA LIFTS BAN ON VEGETABLE IMPORTS FROM BULGARIA
(29/07/2011)

Topics: Business      Agriculture

Russia has lifted the ban on vegetable imports from Bulgaria, which was imposed over the deadly E. coli outbreak, the consumer safety service announced. All shipments, entering the country, will be let in if they are proven safe by a Bulgarian laboratory, Rospotrebnadzor agency said on its website. Russia prohibited all fresh-vegetable imports from the 27- nation European Union on June 2 after the outbreak in May. It previously canceled the ban on vegetables from Belgium, Greece, Denmark,...


BULGARIA MPS DEBATE CONSTITUTION CHANGES OVER PROPOSED FISCAL PACT

BULGARIA MPS DEBATE CONSTITUTION CHANGES OVER PROPOSED FISCAL PACT
(28/07/2011)

Topics: Financial      

The Bulgarian parliament will debate at first reading on Thursday constitutional amendments, proposed by Finance Minister Simeon Djankov, which will pave the way for the introduction of the so-called Financial Stability Pact. Upon submitting the draft constitutional amendments to parliament at the end of May, Minister Djankov said he hoped the Pact could be adopted by the fall of 2011. The three main pillars of Djankov's Financial Stability Pact to be solidified via constitutional...


BULGARIA'S BUSINESS CLIMATE UP 0.7% IN JULY 2011

BULGARIA'S BUSINESS CLIMATE UP 0.7% IN JULY 2011
(28/07/2011)

Topics: Business      

In July 2011, the total business climate indicator In Bulgaria increases by 0.7%, compared to its level from the previous month, the National Statistical Institute, NSI, has informed Thursday. Improvement is observed in the industry, construction and retail trade sectors, while in the service sector there is deterioration. The long-term average level of the indicator is by 9.9% higher. The composite indicator "business climate in industry" increases by 1.1 percentage points compared to...


BULGARIAN TOWN PLANS RECREATIONAL PARK IN LEDENIKA CAVE

BULGARIAN TOWN PLANS RECREATIONAL PARK IN LEDENIKA CAVE
(27/07/2011)

Topics: Business      Tourism

The Bulgarian city of Vratsa announced Tuesday the project of constructing a BGN 5.3 M recreational part in the Ledenika Cave. The project is funded by the Regional Development Operational Programme within the framework of a strategy for developing tourist attractions in the region. The recreational park will consist of separate thematic units, with light and music themes within the different halls of the cave. Shows will include images projected in the cave lake, a volcano simulation,...


TRIPS OF BULGARIANS ABROAD INCH UP 3.8% IN JUNE 2011

TRIPS OF BULGARIANS ABROAD INCH UP 3.8% IN JUNE 2011
(27/07/2011)

Topics: Business      Tourism

Trips of Bulgarians abroad came in at 328.8 thousand in June 2011, registering a 3.8% increase on the year, according to the country's National Statistical Institute. An upward trend was registered in the trips to the following destinations: Hungary - by 36.2%, Romania - by 26.1%, Ireland - by 22.1%, Former Yugoslav Republic of Macedonia (FYROM) - by 20.1%, Austria - by 19.5%, Israel - by 18.4%, Belgium - by 7.3%, United Kingdom - by 6.6%, Germany - by 6.4%, Slovenia - by 6.1%, Turkey - by...


BULGARIA REGISTERS MILLIONAIRE BOOM FOR 2010

BULGARIA REGISTERS MILLIONAIRE BOOM FOR 2010
(26/07/2011)

Topics: Business      

The number of millionaires in Bulgaria has skyrocketed over the past year, according to data provided by National Revenue Agency (NRA) head Krasimir Stefanov. A total of 1673 Bulgarians have declared taxable incomes of over BGN 1 M for 2010, which constitutes a 60-fold year-on-year increase, Bulgarian daily 24 Hours has revealed. 22 of the wealthiest Bulgarians have reported incomes exceeding BGN 10 M. Experts have attributed the millionaire boom to the fact that the economic downturn...


BULGARIA RE-LAUNCHES ONCE POPULAR SEA SHUTTLES

BULGARIA RE-LAUNCHES ONCE POPULAR SEA SHUTTLES
(24/07/2011)

Topics: Economy      

The Bulgarian Transport Ministry is reinstating the popular sea shuttles known as comets servicing the country's beach resorts and coastal cities. The decision comes after a 20-year break, the Bulgarian TV channel bTV reports Sunday. The initial launch was scheduled for June 1, but the repair of the shuttles, which were purchased second hand from neighboring Greece, took longer than expected – three months. The regular lines between the southern coastal towns of Sozopol and Nessebar and...


BULGARIA REGISTERS DROP IN PRODUCE PRICES

BULGARIA REGISTERS DROP IN PRODUCE PRICES
(24/07/2011)

Topics: Economy      Food and Beverage

Prices of fruit and vegetables are falling traditionally for this time of the year with their wholesale price index going down to 1.9 points. The data was released by the State Commission for Commodity Exchanges and Market Places. Prices of greenhouse tomatoes are down 12.3% to BGN 0.93 per kg, of cucumbers – 6% to BGN 0.9 per kg, of green peppers – by 27%. Cabbage prices remain the same; those of potatoes are down 6% to BGN 0.5 per kg; squash prices are down 7% to BGN 0.4 per kg. In...


BULGARIA SHOULD FOLLOW IN ESTONIA'S FOOTSTEPS AFTER MOODY'S UPGRADE

BULGARIA SHOULD FOLLOW IN ESTONIA'S FOOTSTEPS AFTER MOODY'S UPGRADE
(24/07/2011)

Topics: Financial      

Moody's recent upgrade of Bulgaria's debt is the first step towards distinguishing it clearly from the troubled countries in the region, a local expert argues. "This is the beginning of a process of differentiation, which - if brought to an end through sound economic policies - can restore investors' confidence in Bulgaria despite the problems of the other countries in the region," Georgi Angelov, Senior Economist with the Open Society Institute – Sofia, has commented. "In 2009 Estonia...


WATCHDOG OKS BULGARIAN MALL SALE TO ROCKEFELLER'S EUROPA CAPITAL

WATCHDOG OKS BULGARIAN MALL SALE TO ROCKEFELLER'S EUROPA CAPITAL
(24/07/2011)

Topics: Business      Real Estate

Bulgaria's anti-monopoly body has given the green light to the acquisition of a shopping mall in the capital Sofia by London-based property fund manager Europa Capital, part of US real estate investor Rockefeller Group International. The Commission for Protection of Competition (CPC) approved on Friday the deal for the sale of Mall of Sofia to Dorado 1, which is controlled by Europa Capital, the regulatory body announced. The deal was financed by Hungary's OTP and its Bulgarian unit...


BULGARIA SEES INCREASE IN NUMBER OF RUSSIAN TOURISTS

BULGARIA SEES INCREASE IN NUMBER OF RUSSIAN TOURISTS
(23/07/2011)

Topics: Business      Tourism

An increase in the number of Russian tourists has been registered in Bulgaria over the last two years, according to Marin Neshkov, chair of the tourist chamber of the country's Black Sea capital Varna, has said. Besides Russians, tourists from Germany and the UK constitute major parts from the Balkan country's tourist market, Neshkov has said, as cited by actualno.com. Bulgaria has already achieved its highest possible market share in Germany, the Nordic countries and the UK and could...


BULGARIA SEES FURTHER DROP IN DWELLING PRICES

BULGARIA SEES FURTHER DROP IN DWELLING PRICES
(22/07/2011)

Topics: Business      Real Estate

Bulgaria's dwelling prices have decreased by 6.4% year on year during the second quarter of 2011, according to the country's National Statistical Institute. The dwelling prices have dropped with 1.6% in comparison with the year's first quarter. According to the statistical institute, the average price for a dwelling has been BGN 908.98 per square meter. Dwellings have been most expensive in the Black Sea capital Varna, with an average of BGN 1 508.67 per square meter, followed by Sofia...


BULGARIA TO PLAY IT COOL ON EURO ZONE BID OVER DEBT CRISES -  FINMIN

BULGARIA TO PLAY IT COOL ON EURO ZONE BID OVER DEBT CRISES - FINMIN
(22/07/2011)

Topics: Financial      

Bulgaria has not changed its intention to join the euro zone but it does not expect to start specific talks for accession to the ERM-2 before the situation with the euro zone debt crises clears, according to Finance Minister Simeon Djankov. "We are not going to start preliminary talks (on joining the euro) in the autumn. Our intentions (to join the euro) are not changed. However, a specific time is not fixed yet," Djankov told Reuters in an interview provided by the Bulgarian Finance...


RUSSIA MOVES TO SUE BULGARIA OVER BELENE NPP

RUSSIA MOVES TO SUE BULGARIA OVER BELENE NPP
(22/07/2011)

Topics: Politics      

A lawsuit has been filed by Russia's Atomstroyexport, a Rosatom subsidiary, demanding that Bulgaria's National Electric Company (NEK) pay EUR 58 M in arrears for works on the construction of the Belene nuclear power plant. "As the Bulgarian company is facing hard times, at its request we granted it a delay in payment and agreed to a repayment schedule," an anonymous Atomstroyexport official told RIA Novosti. He pointed out that the legal action at the International Court of Arbitration in...


TOSHIBA CONFIRMS INVESTMENT IN BULGARIAN SOLAR PARK

TOSHIBA CONFIRMS INVESTMENT IN BULGARIAN SOLAR PARK
(22/07/2011)

Topics: Investments      Renewable Energy

Japanese company Toshiba intends to continue its investments in the construction of a 10 MW solar park near the Southeastern Bulgarian town of Yambol. Toshiba representatives have confirmed their commitment during a meeting with Yambol's Mayor, Georgi Slavov, the Bulgarian National Radio has informed. The photovoltaic park will cost EUR 37.6 M and will be able to provide electricity for 2 000 households. Instead of owning the solar park, Toshiba plans to sell it to local funds and...



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