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INVEST BULGARIA INVESTMENT NEWS: (1392 stories found)

BULGARIAN GOVT EXTENDS TENDER FOR GORNA ORYAHOVITSA AIRPORT

BULGARIAN GOVT EXTENDS TENDER FOR GORNA ORYAHOVITSA AIRPORT
(21/06/2011)

Topics: Economy      

Bulgaria’s Transport Ministry has extended the tender for the concession of Gorna Oryahovitsa Airport as no bidders have showed up within the original deadline. The new deadline for submitting offers for the underdeveloped airport in the center of Northern Bulgaria, near Veliko Tarnovo, is October 31, 2011, the Transport Ministry announced on its website. The same deadline has been set for the concession of the cargo terminal in Bulgaria’s Plovdiv Airport. The news that there has been...


BULGARIAN TRADE UNIONS FUME OVER WAGE INCREASE CONTROVERSY

BULGARIAN TRADE UNIONS FUME OVER WAGE INCREASE CONTROVERSY
(21/06/2011)

Topics: Financial      

The minimum monthly wage in Bulgaria is to go up on September 1, according to a proposal of the Finance Ministry, extended to the trade unions. The proposal was made Tuesday during a meeting of the income subcommittee at the so-called Three-Way Council between the cabinet, the business and the labor unions. The two main labor unions in Bulgaria – the Confederation of the Independent Syndicates (KNSB) and Podkrepa (Support) firmly reject the proposal, insisting the wage goes up on July 1,...


NUMBER OF PLANES AT SOFIA AIRPORT UP 5.4% IN MAY 2011 Y/Y

NUMBER OF PLANES AT SOFIA AIRPORT UP 5.4% IN MAY 2011 Y/Y
(21/06/2011)

Topics: Economy      

Bulgaria's Sofia International Airport serviced 310 866 passengers in May, 2011, which is 11% more than the same period of 2010. The data was reported by the airport authority Tuesday. Since May, 2011, the Spanish Air Europa, member of the international Sky Team alliance, launched regular Thursday flights to and from Arrecife. The flights are serviced by a Boeing 737-800 with 186 seats and depart from Terminal 1. May, 2011, saw a 27 000 increase year on year, for the number pf...


OVERGAS, BOSCH JOIN EFFORTS ON HOUSEHOLD GASIFICATION IN BULGARIA

OVERGAS, BOSCH JOIN EFFORTS ON HOUSEHOLD GASIFICATION IN BULGARIA
(21/06/2011)

Topics: Economy      

Bulgaria's gas distribution company Overgas has signed a contract with Germany's Bosch for mutual cooperation in the sphere of household gasification. The aim is to simplify procedures and alleviate costs for connecting new consumers to the gas grid. At present, connecting one consumer to the gas network costs around BGN 4000 and takes up to 75 days, which companies in the sector have identified as a key factor for the delayed gasification process in the country. Starting early July,...


PROTEST LOOMS IN BULGARIA'S LARGEST SEA RESORT
(21/06/2011)

Topics: Economy      Tourism

Some 500 hotel and restaurant owners, taxi drivers and salespeople rallied in Sunny Beach, Bulgaria's largest Black Sea resort, against regulations set by the company managing it. The protesters demanded the immediate resignations of the management of the shareholder company owning the resort, disgruntled over what they claim are illegitimate fees for services and access to local infrastructure. The protest was triggered by the increased fees imposed by the management for access to the...


ROMANIAN TOPS BULGARIA'S DANUBE TOWN RUSE RICH LIST

ROMANIAN TOPS BULGARIA'S DANUBE TOWN RUSE RICH LIST
(20/06/2011)

Topics:       

The richest citizen of the Bulgarian town of Ruse, on the Danube, who earned BGN 3.12 M last year, has turned out to be a man from neighboring Romania, the national revenue agency announced. The man, whose name has not been disclosed, is believed to have been lured to Bulgaria by the lower taxes, which the government has maintained at pre-recession levels. However there is also a possibility that the Romanian is a tax fraudster as he submitted a tax declaration, but did not pay the taxes...


EUROPE'S LARGEST METRO TUNNEL OPENED IN BULGARIA'S SOFIA

EUROPE'S LARGEST METRO TUNNEL OPENED IN BULGARIA'S SOFIA
(20/06/2011)

Topics: Infrastructure      Construction

The subway tunnel with the largest cross section in Europe has been formally completed in the Bulgarian capital as part of the construction of the second line of the Sofia Metro. The tunnel at Metro Station 8 of the Line II of the Sofia Metro has a cross section of 258 square meters, and is 108 meters long, 18 high, and 22 meters wide. Metro Station 8 is the spot where the second line of the Sofia Metro will cross and inter-connect with the existing first line at its Serdica Station near...


BULGARIAN CAPITAL AT CROSSROADS OVER 3RD SOFIA METRO LINE

BULGARIAN CAPITAL AT CROSSROADS OVER 3RD SOFIA METRO LINE
(18/06/2011)

Topics: Infrastructure      Construction

The authorities in the Bulgarian capital Sofia are still mulling the route and type of the third line of the Sofia Metro, while the first two lines are still under construction. Four different options for the third line of the Sofia Metro will be presented on Monday by the Czech firm Metroproekt Prague, a consultant to the Sofia Municipality, the Monitor daily reported Saturday. The third line of the Sofia Metro is supposed to run from the southwest to the northeast of the city via the...


BGN 50 M WASTE RECYCLING PLANT LAUNCHED IN BULGARIA'S VARNA

BGN 50 M WASTE RECYCLING PLANT LAUNCHED IN BULGARIA'S VARNA
(18/06/2011)

Topics: Investments      Waste Management

A waste recycling plant, an investment worth about BGN 50 M, was formally inaugurated at the Bulgarian Black Sea city of Varna. The recycling factory of Ecoinvest Assets, a consortium, is located in the village of Ezerovo, 10 km east of Varna, and was opened Saturday by Bulgarian Prime Minister Boyko Borisov. It has a built-up area of 16 000 square meters, employs 40 people, and is supposed to function for at least 25 years. It can process 140 000 tons of waste annually. The Ecoinvest...


BULGARIA WANTS TO FREEZE BELENE NUCLEAR PROJECT AGAIN

BULGARIA WANTS TO FREEZE BELENE NUCLEAR PROJECT AGAIN
(17/06/2011)

Topics: Construction      

Bulgaria has demanded that Belene nuclear project is frozen for another three months as of July, the energy and economy minister announced on Friday. "We have proposed a three-month delay so that we have time to catch up with the so-called back office work," Minister Traicho Traikov said at a conference about the energy infrastructure, which is taking place in Sofia. "We need additional information about the cost of the project, because what we have received so far from the Russian side...


BULGARIA OKS DEAL FOR BULGARIAN-AMERICAN CREDIT BANK

BULGARIA OKS DEAL FOR BULGARIAN-AMERICAN CREDIT BANK
(16/06/2011)

Topics: Business      

Bulgaria's anti-monopoly body said on Thursday it has given the green light to the sale of a 49.99% interest in Bulgarian-American Credit Bank. Allied Irish Banks announced a month ago that it has signed an agreement to sell its 49.99% shareholding in Bulgarian-American Credit Bank AD to Clever Synergies Investment Fund (CSIF). The deal price was not disclosed. The deal brought back into the banking sector Bulgarian tycoon Tsvetelina Borislavova, more publicly known as the woman with...


BULGARIAN GOVT MOVES TO FOUND MEGA-STRUCTURE FOR INFRASTRUCTURE

BULGARIAN GOVT MOVES TO FOUND MEGA-STRUCTURE FOR INFRASTRUCTURE
(16/06/2011)

Topics: Infrastructure      Construction

Bulgaria's government is certain to set up a state-owned mega-company to be in charge of large-scale infrastructure projects, a somewhat controversial brainchild of Regional Development Minister Rosen Plevneliev. The new infrastructure company will be called State Company "Strategic Infrastructure Projects". It is to be established as on Thursday, the Bulgarian Parliament adopted amendments to the Road Traffic Act, which include provisions for its setting up. The mega-structure will be...


BULGARIA'S RULERS BACK OUT OF UNIVERSAL PENSION RAISE

BULGARIA'S RULERS BACK OUT OF UNIVERSAL PENSION RAISE
(15/06/2011)

Topics: Financial      

The Bulgarian government of the center-right party GERB plans to raise the retirement pensions only of widows, according to the latest announcement of Finance Minister Simeon Djakov. According to Djankov, the state budget cannot afford to raise all pensions, as Prime Minister Boyko Borisov and Labor Minister Totyu Mladenov had indicated earlier. Instead, the government is mulling upping only the so called widows' allowances. Currently, retired widows receive 20% of the pension of the late...


BULGARIAN GOVT GRANTS CHEVRON MASSIVE SHALE GAS EXPLORATION CONCESSION

BULGARIAN GOVT GRANTS CHEVRON MASSIVE SHALE GAS EXPLORATION CONCESSION
(15/06/2011)

Topics: Business      

Bulgaria's Cabinet has formally decided to award a large-scale concession for shale gas exploration to US energy giant Chevron. The decision was formalized by the Borisov government on Wednesday after at the end of May 2011 Bulgarian Economy, Energy, and Tourism Minister Traicho Traikov announced that US energy giant Chevron landed the shale gas exploration concession with a whopping offer of EUR 30 M, snatching it from British company BNK Petroleum, which remained second in the...


EUROMAX FINDS NEW GOLD ZONES NEAR BULGARIA'S TRUN

EUROMAX FINDS NEW GOLD ZONES NEAR BULGARIA'S TRUN
(15/06/2011)

Topics: Business      

The Canadian EurOmax Resources company has discovered new gold zones near the southwestern Bulgarian town of Trun during its drill program. Results include 87 meters at 2.14 grams per tonne gold (285 feet at 0.063 oz per ton gold) in diamond drill hole MTC1174, the first hole to test the region's Ruy target, a 600 x 400 meter gold-in-soil anomaly. "Initial results from our 2011 Drill Program at Trun are very encouraging," Dr. Quinton Hennigh, technical advisor to the company, has...


BULGARIA REGISTERS 4.8% INFLATION Y/Y IN MAY 2011

BULGARIA REGISTERS 4.8% INFLATION Y/Y IN MAY 2011
(14/06/2011)

Topics: Financial      

The consumer price index (CPI) in Bulgaria in May 2011, compared to April 2011, was 100%, meaning the monthly inflation was 0%. The data was reported Tuesday by the National Statistical Institute (NSI). The inflation rate since the beginning of the year (May 2011 compared to December 2010) was 2.6% and the annual inflation in May 2011 compared to May 2010 was 4.8%. The annual average inflation, measured by CPI, in the last 12 months (June 2010 - May 2011) compared to the previous 12...


BULGARIAN FINMIN BENT ON PRIVATIZATION, SACKING

BULGARIAN FINMIN BENT ON PRIVATIZATION, SACKING
(14/06/2011)

Topics: Economy      

Bulgaria plans to put out four or five important companies for privatization, announced Minister of Finance Simeon Djankov. "Any moment is a good one for privatization, for the state is not a good husband and owner," said Djankov for the Bulgarian National TV. He confirmed that legislative amendments are under way in Parliament to allow the privatization of "four or five companies" which are up to now in the list of firms prohibited from privatizing. Djankov clarified the money from...


BULGARIA SIGNS UP WESTINGHOUSE TO HELP EXTEND LIFE OF NPP KOZLODUY

BULGARIA SIGNS UP WESTINGHOUSE TO HELP EXTEND LIFE OF NPP KOZLODUY
(13/06/2011)

Topics: Economy      

The Bulgarian Energy Holding (BEH) and Westinghouse have signed a cooperation memorandum under which the US energy giant commits to helping extend the life of Units 5 and 6 of Bulgaria's Kozloduy NPP. The document between BEH and Westinghouse Electric Company LLC (entitled "Memorandum of Understanding for the Studying of Cooperation Opportunities in Nuclear Energy") was signed Monday at the Council of Ministers in the presence of Bulgarian Prime Minister Boyko Borisov, Economy Minister...


BULGARIAN RESTAURANT NAMED AMONG CENTRAL, EASTERN EUROPE'S TOP 10

BULGARIAN RESTAURANT NAMED AMONG CENTRAL, EASTERN EUROPE'S TOP 10
(13/06/2011)

Topics: Business      Food and Beverage

Enoteca Uno in the Bulgarian capital Sofia has been selected as one of the ten best restaurants in Central and Eastern Europe according to the list announced during the Dining Guide Food Show in Budapest. Besides the Bulgarian restaurant, La Degustation Boheme Bourgeoise in Prague, Czech Republic, Valsabbion in Pula, on the Croatian Adriatic coast, La Rotisserie in Warsaw, Poland, Chateau Visz in Hugarian Berencse puszta, Heritage – a French restaurant in Bucharest, Restaurant Zaplet in...


REGIONAL DEVT HEAD TO REPAIR 3000 KM GOD-FORSAKEN ROADS IN BULGARIA

REGIONAL DEVT HEAD TO REPAIR 3000 KM GOD-FORSAKEN ROADS IN BULGARIA
(13/06/2011)

Topics: Infrastructure      

More than 3 100 km of Bulgarian roads, most of which have not been touched in 30-40 years, will be repaired under 76 projects of the Road Agency, Regional Development Minister Rosen Plevneliev announced. Plevneliev, who is the Bulgarian official with the highest public support, spoke Monday on the rehabilitation of the first-, second-, and third-class roads in Bulgaria. In his words, 35% of the roads in Bulgaria are in a bad condition, 25% - in an "average condition", and 40% are in a...



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