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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

BULGARIAN FINMIN FORECASTS 6% ECONOMIC GROWTH IN Q4 2011

BULGARIAN FINMIN FORECASTS 6% ECONOMIC GROWTH IN Q4 2011
(11/07/2011)

Topics: Financial      

Bulgaria's Finance Minister, Simeon Djankov, forecasts a 6% economic growth for the last quarter of the 2011. In a Monday interview for the Bulgarian daily "Trud" (Labor), Djankov says Bulgaria has entered the crisis half a year later than most European countries, thus the recovery is to arrive six months later as well. The Minister points out Bulgaria is now in its third, consecutive strong quarter in 2011, while the fourth one would be the strongest where growth will certainly reach 6%...


BULGARIAN STATE SUFFERS SETBACK IN PLOVDIV FAIR OWNERSHIP CASE

BULGARIAN STATE SUFFERS SETBACK IN PLOVDIV FAIR OWNERSHIP CASE
(11/07/2011)

Topics: Economy      

The Plovdiv Appellate Court has overturned the ruling of the Plovdiv Regional Court to annul the two increases of the capital of the International Plovdiv Fair company and to return the majority stake in the Fair to the State. The latest development came after the Fair's owner, Georgi Gergov, appealed the decision of the Regional Court. According to the Appellate Court in Bulgaria's second largest city, the two increases of the capital, making Gergov's company "Puldin Tourinvest" owner of...


BULGARIAN, TURKISH BUSINESSES AIM AT WHOPPING USD 10 B ANNUAL TRADE

BULGARIAN, TURKISH BUSINESSES AIM AT WHOPPING USD 10 B ANNUAL TRADE
(11/07/2011)

Topics: Economy      

Bulgarian and Turkish companies aim at reaching annual bilateral trade worth USD 10 B, stated the head of the Turkish-Bulgarian Business Council Yalcin Egemen at a business forum organized during the visit of Turkish President Abdullah Gul to Bulgaria. At the forum, which attracted over 50 Turkish companies, the President of the Turkish-Bulgarian Business Council, Yalcin Egemen said there is real potential for the trade between the two countries to grow tremendously. Egemen pointed out...


STRANDZHA MOUNTAIN TIPPED FOR JOINT BULGARIAN-TURKISH PROJECT WITH UNESCO STATUS

STRANDZHA MOUNTAIN TIPPED FOR JOINT BULGARIAN-TURKISH PROJECT WITH UNESCO STATUS
(11/07/2011)

Topics: Economy      Tourism

The border Strandzha Mountain should become a joint Bulgarian-Turkish project for non-material cultural heritage that should seek UNESCO status, Bulgarian President Georgi Parvanov has proposed upon welcoming his Turkish counterpart Abdullah Gul. "Both countries are tourist destinations, especially Turkey. We need to try to diversify the tourism opportunities. Spa tourism has a very good potential but I would add cultural tourism, which leads to dialogue between civilizations," Bulgarian...


BULGARIAN-CROATIAN CONSORTIUM TO CONSTRUCT HEMUS HIGHWAY SECTION

BULGARIAN-CROATIAN CONSORTIUM TO CONSTRUCT HEMUS HIGHWAY SECTION
(09/07/2011)

Topics: Construction      

The section of the Hemus Highway connecting it to the Sofia beltway will be built by a Bulgarian-Croatian consortium called Hemus A2. The 8.5 km section of Hemus, the highway linking Sofia and Varna through Northern Bulgaria, is seen as crucial for unloading the heavy traffic in Sofia's suburban area. The Hemus A2 consortium was selected after providing the lowest price for the section out of a total of 12 bidders in the tender. The consortium includes Trace Group Hold, the same...


BULGARIA TO BUILD 'HIGH-SPEED ROADS' IN ADDITION TO HIGHWAYS

BULGARIA TO BUILD 'HIGH-SPEED ROADS' IN ADDITION TO HIGHWAYS
(08/07/2011)

Topics: Infrastructure      Construction

Several of the so called "high-speed roads" will be added to the list of highways under construction as priority infrastructure projects of the Bulgarian government, according to Road Infrastructure Agency. The Board Chair of the Road Agency Sergey Mihalev met with representatives of the Bulgarian Branch Chamber "Roads", an association of the businesses active in the field of road infrastructure. Mihalev has indicated that the highways and the high-speed roads are the government's major...


BULGARIA TO HOLD AUCTIONS FOR SIX SHALE GAS EXPLORATION BLOCKS

BULGARIA TO HOLD AUCTIONS FOR SIX SHALE GAS EXPLORATION BLOCKS
(08/07/2011)

Topics: Economy      

Bulgaria will hold auctions for a total of six shale gas exploration blocks, said Kristalina Stoykova from the Geological Institute at the Bulgarian Academy of Sciences (BAS). Stoykova heads a scientific group in charge of shale gas research in Bulgaria. In her words, four of the blocks that will be auctioned off are located in North-East Bulgaria and two other in North-Central Bulgaria. At this stage, US oil and gas giant Chevron has won a contract to carry out shale gas exploration...


BULGARIAN DESIGNER DEYAN DENKOV AUTHOR OF RENAULT FRENDZY DESIGN CONCEPT

BULGARIAN DESIGNER DEYAN DENKOV AUTHOR OF RENAULT FRENDZY DESIGN CONCEPT
(08/07/2011)

Topics: Business      Automotive

A Bulgarian exterior designer, Deyan Denkov, is the author of the design concept of Renault's latest concept car, the Renault Frendzy. Denkov, a native of Yambol in Eastern Bulgaria, has been working for Renault since 2007, according to the Renault website. "I took inspiration from a wide variety of sources, including unconventionally shaped aircraft such as the Airbus Beluga and the Antonov 224," Denkov explains, as cited by The Daily Telegraph, adding that the Frendzy is both a business...


FRAPORT TO INVEST BGN 170 M IN BULGARIA'S VARNA, BURGAS AIRPORTS TILL 2014

FRAPORT TO INVEST BGN 170 M IN BULGARIA'S VARNA, BURGAS AIRPORTS TILL 2014
(08/07/2011)

Topics: Investments      

The concessionaire of the Bulgarian Black Sea airports Varna and Burgas Fraport Twin Star Airport Management plans to invest BGN 170 M in their modernization in the next 3 years, company CEO Dirk Schusdziara has announced. Schusdziara has confirmed that Varna Airport will be closed down for unprecedented repairs after the end of the 2011 summer tourist season. The Varna Airport will be undergoing repairs from October 15, 2011, till February 28, 2012. This is the first time the airport...


PM ORDERS BULGARIAN GOVT TO POUR BGN 30 M INTO NEW BLACK SEA AIRPORT IN BALCHIK

PM ORDERS BULGARIAN GOVT TO POUR BGN 30 M INTO NEW BLACK SEA AIRPORT IN BALCHIK
(08/07/2011)

Topics: Infrastructure      Construction

Bulgaria's Cabinet is going to invest BGN 30 M in the reconstruction of the military airport near the Black Sea resort of Balchik in order to transform it into a civilian airport. According to the transcript of the Bulgarian government's meeting on Wednesday, which was released Friday, Prime Minister Boyko Borisov ordered the Finance Ministry to allocated BGN 30 M for the reconstruction of the Balchik Airport for civilian purposes. Borisov's rationale is that the reconstruction will be...


BULGARIA OPENS BIDS FOR STRUMA HIGHWAY LOT 1

BULGARIA OPENS BIDS FOR STRUMA HIGHWAY LOT 1
(07/07/2011)

Topics: Infrastructure      Construction

The bids, which were submitted for a section of the future Struma Highway, connecting Sofia to the border with Greece, will be opened on Thursday, the road infrastructure agency announced. A record number of bidders – 19 – applied with offers to build Lot 1 of the Struma Highway – including companies from Bulgaria, Italy, Spain, Turkey, Germany, and Greece. Regional Development Minister Rosen Plevneliev told journalists a month ago that the builder of Lot 1 will be selected by August, and...


BULGARIA SERIOUSLY BENT ON GIVING UP RUSSIAN GAS

BULGARIA SERIOUSLY BENT ON GIVING UP RUSSIAN GAS
(07/07/2011)

Topics: Economy      

Bulgaria is making definite steps to achieve a fourfold reduction in the amount of natural gas it is buying from Russia, according to an extensive publication by Russian paper Kommersant. Looking at boosting its own gas production, but also at diversifying imports, Bulgaria hopes to achieve a reduction from the 2 B cubic meters of gas it buys from Russia per annum, to some 500 M cub.m in 2-3 years. Bulgarian Minister of Economy and Energy has already declared Bulgaria's intention to give...


BULGARIA SETS UP MEGA-STRUCTURE FOR 3 NEGLECTED HIGHWAYS

BULGARIA SETS UP MEGA-STRUCTURE FOR 3 NEGLECTED HIGHWAYS
(07/07/2011)

Topics: Infrastructure      

Bulgaria's Parliament has approved at second reading the founding of a State Company "Strategic Infrastructure Projects", a mega-structure to be in charge of the construction of three largely neglected highway projects. The new body created with adopted amendments to the Roads Act will seek to accelerate the construction of "strategic infrastructure projects", namely the Struma Highway (running from Sofia to the border with Greece; expected completion date - 2014), the Hemus Highway (running...


BULGARIA'S INDUSTRIAL SECTOR KEEPS GROWING

BULGARIA'S INDUSTRIAL SECTOR KEEPS GROWING
(07/07/2011)

Topics: Economy      

Bulgaria's industrial production increased by 7.8% in May 2011 year-on-year, according to fresh data from the National Statistical Institute. Bulgaria's extraction industry grew by 20.8% in May 2011 compared with May of last year, while the energy sector grew by 12.7%, and the processing industry (manufacturing) – by 5.9%. Compared with April 2011, the industrial production in Bulgaria is down 0.5%. The decrease, however, is primarily due to a decline in the energy output by 6%, while the...


SISECAM TO INVEST USD 60 M MORE IN ITS GLASS PLANTS IN BULGARIA

SISECAM TO INVEST USD 60 M MORE IN ITS GLASS PLANTS IN BULGARIA
(07/07/2011)

Topics: Investments      

Sisecam, Invest, USD, 60, M, More, Glass, Plants,Turkish industrial giant Sisecam is going to invest USD 60 M more in its production facility for household glass in Bulgaria's Targovishte through its subsidiary, Trakiya Glass Bulgaria. The new investment will expand the existing household glass production line launched in 2005, and will add a second production line in Sisecam's glass factories in Targovishte, which taken together are the largest glass plant in the Balkans. A total of 200...


BNB GOVERNOR CONFIDENT ABOUT BULGARIAN ECONOMY, BANKING SYSTEM

BNB GOVERNOR CONFIDENT ABOUT BULGARIAN ECONOMY, BANKING SYSTEM
(06/07/2011)

Topics: Financial      

Bulgarian National Bank Governor Ivan Iskrov has expressed confidence about the stability of Bulgaria's banking system and the prospects for Bulgaria's economy despite the sovereign debt crisis in Greece. Speaking at a round table taking place on the sidelines of the "Bank of the Year" ceremony, he emphasized that Bulgaria's capital adequacy stood at 15.36%, or three times over the EU minimum requirements. According to Iskrov, Bulgaria's banking system includes no bad banks, which means...


BULGARIA'S WINE EXPORT MARKETS SHIFT FROM WEST TO EAST IN 2011 Q1

BULGARIA'S WINE EXPORT MARKETS SHIFT FROM WEST TO EAST IN 2011 Q1
(06/07/2011)

Topics: Business      Food and Beverage

Bulgaria's wine exports registered a 6.6% increase in the first quarter of 2011 year-on-year, according to the Bulgarian Executive Agency on Vine and Wine. In the first three months of 2011, Bulgaria exported a total of 10.375 million liters of wine, about 638 000 liters more than the 9.737 million liters in the first quarter of 2010. The data of the Executive Agency on Vine and Wine indicate a slight shift in Bulgaria's wine export markets from Western Europe to Russia and the...


BULGARIAN ANTITRUST WATCHDOG SLAPS FINES OVER MARITSA EAST 2 TPP ECO UPGRADE

BULGARIAN ANTITRUST WATCHDOG SLAPS FINES OVER MARITSA EAST 2 TPP ECO UPGRADE
(06/07/2011)

Topics: Economy      

Bulgaria's Commission on Protection of Competition (CPC) has fined three companies which participated in the construction of desulphurization installations at the state-owned thermal power plant Maritsa East 2. Consortium Idreco-Insigma, Zhejiang Zheda Insigma Group Co., Ltd, and Idreco Invest have been fined with BGN 50 000 each, according to CPC's announcement. Consortium Idreco-Insigma won the public procuirement contract for building the desulphurisation equipment with financing from...


BULGARIAN GOVT GRANTS 5 RAILWAY LINES 'NATIONAL SIGNIFICANCE' STATUS

BULGARIAN GOVT GRANTS 5 RAILWAY LINES 'NATIONAL SIGNIFICANCE' STATUS
(06/07/2011)

Topics: Infrastructure      

Five railway lines, all of them going through Sofia, have been declared to be of "national significance" by the Bulgarian government. Three of the five railway lines in question are part of the so called Pan-European Transport Corridor No. 4 (from Central Europe to Greece and Turkey via Vidin and Sofia); namely, Sofia-Vidin (the port on the Danube in Northwestern Bulgaria), Sofia-Pernik-Radomir in Western Bulgaria and Radomir-Kulata (on the border with Greece). The other two priority...


BULGARIAN GOVT MOVES TO SET UP NEW BLACK SEA RESORTS AIRPORT NEAR BALCHIK

BULGARIAN GOVT MOVES TO SET UP NEW BLACK SEA RESORTS AIRPORT NEAR BALCHIK
(06/07/2011)

Topics: Infrastructure      Tourism

Bulgaria's Cabinet has voted to turn the defunct military airport near the Black Sea town of Balchik into an active civilian airport serving the nearby sea resorts. The Borisov government decided Wednesday to transfer the ownership of the Balchik Airport from the Defense Ministry to the Transport Ministry, acting in accordance that Prime Minister Boyko Borisov made in a nearby town, Kavarna, in early June 2011. The Balchik Airport is located very close to the top resorts on Bulgaria's...



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