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INVEST BULGARIA INVESTMENT NEWS: (1392 stories found)

10 000 FLOCK TO SOFIA MOTOR SHOW'S FIRST DAY

10 000 FLOCK TO SOFIA MOTOR SHOW'S FIRST DAY
(13/06/2011)

Topics: Business      

More than 10 000 car enthusiasts visited Bulgaria's 2011 Sofia Motor Show on Saturday, the first day of the event. An unusually high amount of deals were struck on the first day of the spectacular exhibition, the Dnevnik daily said Monday, citing car dealers who claimed this was a clear sign of the Bulgarian car market's recovery. The attractive discounts announced by many of the dealers have been pointed out as one of the main reasons for the vast interest. A lot of deals have been...


BULGARIA REGISTERS DROP IN PRODUCE PRICES

BULGARIA REGISTERS DROP IN PRODUCE PRICES
(12/06/2011)

Topics: Business      

Prices of fruit and vegetables are falling with their wholesale price index going down to 1.035 points. The data was released by the State Commission for Commodity Exchanges and Market Places. Prices of greenhouse tomatoes are down 23%, of cucumbers – 31%, of cabbage – 24%, of spring potatoes – 25%. Prices of lettuce are up by 2%. In the last week, strawberries' prices were 15% lower as were those of cherries. Among basic food stables – prices of sugar remained the same; those of...


GREAT WALL JV TO PRODUCE EU CHEAPEST CARS IN BULGARIA

GREAT WALL JV TO PRODUCE EU CHEAPEST CARS IN BULGARIA
(12/06/2011)

Topics: Business      

Voleex C10 sedan, Hover H5 SUV and Steed pickup are the three different vehicle models, which Chinese car maker Great Wall Motor Co and Bulgarian company Litex Motors will produce in the town of Lovech, Northern Bulgaria, at very competitive prices. The companies are to roll off their first vehicles by the end of the year amid expectations for a furore not least because of their low prices. Even though the price list has not been officially announced, unconfirmed reports say Voleex C10, a...


RUSSIAN AMBASSADOR TO BULGARIA: SOUTH STREAM WILL BE READY 2015

RUSSIAN AMBASSADOR TO BULGARIA: SOUTH STREAM WILL BE READY 2015
(11/06/2011)

Topics: Economy      

The first natural gas will flow in the South Stream pipeline no later than end of 2015, stated Russian Ambassador to Bulgaria Yuriy Isakov. In an interview for the Bulgarian National Radio, Isakov expressed optimism on all joint energy projects Bulgaria and Russia are discussing. "At present all countries participating in South Stream, including Bulgaria, have agreed to the terms and we will have the project companies created in all of them by the end of 2011," said the Russian...


10 POTENTIAL BIDDERS EYE BULGARIA'S BULGARTABAC

10 POTENTIAL BIDDERS EYE BULGARIA'S BULGARTABAC
(10/06/2011)

Topics: Economy      

Ten companies, including four top-notch investors, have purchased public procurement documents for acquiring a majority stake in Bulgaria's cigarette maker Bulgartabac, the Privatisation Agency said on Friday. The four major companies are British American Tobacco, Japan Tobacco International, Philip Morris Bulgaria and South Korea's KT&G Corporation. The other six candidates are Bulgarian law firms Kambourov & Partners and Dzhingov, Guginski, Kiuchukov and Velichkov; Bulgarian-based...


3 TOBACCO GIANTS EYE BULGARIA'S BULGARTABAC

3 TOBACCO GIANTS EYE BULGARIA'S BULGARTABAC
(10/06/2011)

Topics: Economy      

Three top-notch investors have purchased public procurement documents for the bid to privatize Bulgaria's cigarette maker Bulgartabac. The news was reported by the Bulgarian daily Trud (Labor), cited by Dnes.bg. The deadline to purchase the documents was Thursday, 5:30 pm. The three are said to be the second largest in the world cigarette maker British-American Tobacco, Japan Tobacco International and Korean Tobacco Group. The Japanese and Korean businesses are planning to launch...


BULGARIA'S PORT VARNA CEO DEFENDS GIVING UP CRUCIAL JAPANESE LOAN

BULGARIA'S PORT VARNA CEO DEFENDS GIVING UP CRUCIAL JAPANESE LOAN
(10/06/2011)

Topics: Economy      

Bulgaria's Cabinet has been right to seek to turn down a large-scale Japanese low-interest loan for the expansion of the largest Bulgarian sea port Varna, according to the port CEO Danail Papazov. "The loan for Port Varna from the Japan International Cooperation Agency was rejected because it is hard to implement," Papazov said speaking on private channel TV7. At the end of February 2011, Bulgaria's Cabinet decided to start talks with Japan to annual a low-interest loan previously deemed...


BULGARIA PLANS TO START EXPORTING ELECTRICITY TO TURKEY IN JULY

BULGARIA PLANS TO START EXPORTING ELECTRICITY TO TURKEY IN JULY
(09/06/2011)

Topics: Economy      

Bulgaria and Turkey have agreed to speed up the construction of a gas grid interconnection between the two countries, Bulgarian Energy Minister Traicho Traikov said Thursday after a meeting with Turkish counterpart Taner Yildiz. The two ministers met in Kayseri, Turkey, where they took part in the signing of the Project Support Agreements (PSAs) between NABUCCO Gas Pipeline International GmbH and the responsible ministries of the five transit countries. "The PSAs give better guarantees...


BULGARIA'S Q1 2011 EXPORTS TO EU UP BY 56.4% Y/Y

BULGARIA'S Q1 2011 EXPORTS TO EU UP BY 56.4% Y/Y
(09/06/2011)

Topics: Economy      

In the period January-March 2011, Bulgaria's exports to the EU increased by 56.4% compared to the same period a year earlier, totaling BGN 5.7 B, the National Statistical Institute reported (NSI). The main trade partners of Bulgaria were Germany, Italy, Romania, Greece and Belgium, which accounted for 67.3% of the country's exports to EU member states. The most significant increase was registered in exports for Portugal, Belgium and Denmark. Declines were reported in export rates to...


RUSSIA COMES UP WITH NEW ULTIMATUM ON BULGARIA'S BELENE NPP

RUSSIA COMES UP WITH NEW ULTIMATUM ON BULGARIA'S BELENE NPP
(09/06/2011)

Topics: Economy      

If a contract on the construction of Belene, Bulgaria's second nuclear power plant, is not signed by July 1, the project will become useless, a Russian official has said. Construction has to be launched by March 2012, or otherwise Belene will be considered unprofitable for Russia, said Genadiy Tepkyan, deputy chair of Atomstroyexport, the Rosatom subsidiary that is supposed to build the plant, according to Komersant. In November, Russia delivered a similar ultimatum, declaring Bulgaria...


BULGARIA'S STRUMA HIGHWAY TO FEATURE BEAR BRIDGES, RABBIT FENCES

BULGARIA'S STRUMA HIGHWAY TO FEATURE BEAR BRIDGES, RABBIT FENCES
(08/06/2011)

Topics: Infrastructure      Construction

The future Struma Highway connecting Sofia to the border with Greece will be the first one in Bulgaria to feature special facilities for wild animals such as bears and hares. Regional Development Minister Rosen Plevneliev told journalists Wednesday that Bulgaria will take after developed Western European countries such as the Netherlands in building highway facilities that protect wild animals. He spoke at the Road Agency where he opened the bids in the tender for the construction of Lot...


EUROPA CAPITAL BUYS BULGARIA'S MALL OF SOFIA

EUROPA CAPITAL BUYS BULGARIA'S MALL OF SOFIA
(08/06/2011)

Topics: Business      Real Estate

London private equity fund manager Europa Capital has bought the Bulgarian capital's Mall of Sofia or more than EUR 100 M. The sale generates a gain of more than EUR 20 M to be shared equally by Avestus Capital Partners and Irish GE Real Estate, according to a source close to the Irish property company, cited by the Irish Times Mall of Sofia is a 23,600 sqm (254,000 sq ft) shopping center with 10,400 sqm (112,000 sq ft) of offices above, located in downtown Sofia. The property was...


EARNST & YOUNG RANK BULGARIA 32ND IN RENEWABLE ENERGY ATTRACTIVENESS

EARNST & YOUNG RANK BULGARIA 32ND IN RENEWABLE ENERGY ATTRACTIVENESS
(08/06/2011)

Topics: Business      Renewable Energy

Bulgaria has been ranked among the most attractive countries in the world for investments in renewable energy projects, a report from the US auditing and consulting company Ernst & Young showed. The top three in the ranking are China, the US, and India while Bulgaria is among the top 35, according to the attractiveness indices. This is the first time Bulgaria is included in the report along with Morocco, Taiwan, and Chile. The report points out the last several months were not only very...


BULGARIAN ECONOMY GROWS 3.4% IN Q1 Y/Y

BULGARIAN ECONOMY GROWS 3.4% IN Q1 Y/Y
(08/06/2011)

Topics: Macroeconomic Data      

The Bulgarian economy expanded by 3,4% in the first quarter of the year on an annual basis, revised data of the statistics office showed on Wednesday, well above the flash data published a month ago. On quarterly basis, the emerging economy expanded 0.6% from January through March. According to flash data of the statistics office from the middle of May the Bulgarian economy expanded by 2.5% in the first quarter on an annual basis. The country's gross domestic product grew by 0.4%...


BORISOV, BOC TO OPEN FACTORY OF BULGARIAN FIRM MONBAT IN ROMANIA

BORISOV, BOC TO OPEN FACTORY OF BULGARIAN FIRM MONBAT IN ROMANIA
(08/06/2011)

Topics: Business      Automotive

A EUR 13 M factory of Monbat Recycling, a subsidiary of Bulgarian company Monbat, in Romania will be inaugurated formally by the Prime Ministers of Bulgaria and Romania Boyko Borisov and Emil Boc on Thursday. Monbat Recycling SRL, whose plant is located outside of Bucharest, is an investment of Bulgarian car battery producer Monbat, part of the Bulgarian Prista Oil Group, one of the largest machine oil and battery producers in Eastern Europe. Monbat's factory in Romania has been operating...


BULGARIA'S INDUSTRIAL INDEX UP 1.5 % IN APRIL 2011 M/M

BULGARIA'S INDUSTRIAL INDEX UP 1.5 % IN APRIL 2011 M/M
(07/06/2011)

Topics: Business      

The seasonally adjusted industrial production index increased by 1.5% in April 2011, compared to March 2011. The preliminary data was released Tuesday by the National Statistics Institute, NSI. In April 2011, the work day adjusted industrial production index rose by 9.4%, compared to the same month of 2010. In April 2011, compared to March 2011, the seasonally adjusted industrial production index in the mining and quarrying industry increased by 1.3%, in the manufacturing by 0.2% and...


BULGARIA'S NEW CAR MARKET SEES TANGIBLE RECOVERY IN 2011 H1, Q2

BULGARIA'S NEW CAR MARKET SEES TANGIBLE RECOVERY IN 2011 H1, Q2
(07/06/2011)

Topics: Business      Automotive

Bulgaria's sales of new cars grew by 21.3% in the first half of 2011 year-on-year, according to data of the Association of Car Importers. A total of 10 954 new vehicles were sold in Bulgaria in January-June 2011, including 10 287 new cars (an increase of 19.6% year-on-year), and 667 buses and trucks (an increase of 69% compared with 2010 H1). The increase in the number of sold buses and trucks is also boosted by Scania's inclusion as a member of the Association as Scania's sales were not...


BULGARIAN PM ANNOUNCES POLITICAL SEAL OF NABUCCO GAS LINE

BULGARIAN PM ANNOUNCES POLITICAL SEAL OF NABUCCO GAS LINE
(07/06/2011)

Topics: Business      Construction

The political agreement for the European Nabucco gas pipeline project is going to be signed Wednesday in Turkey. The announcement was made Tuesday by Bulgarian Prime Minister, Boyko Boriosv, who said the move will put the project on the highest political level of the agenda. Borisov spoke at the opening of the conference titled "New Perspectives in the Trade and Economic Relations between the US and Bulgaria." It was further announced that Borisov and his Deputy and Finance Minister,...


KYUSTENDIL VOTED TOP SPA DESTINATION IN BULGARIA

KYUSTENDIL VOTED TOP SPA DESTINATION IN BULGARIA
(07/06/2011)

Topics: Business      Tourism

The western Bulgarian city of Kyustendil was voted "Most dynamically Developing SPA destination" at the second edition of the annual "Spa Nominations" ceremony. The event was held at the Kempinski-Zografski hotel in Sofia. In 2010, the town of Sandanski was declared "Best SPA destination" in the country, after Velingrad withdrew from the competition in a bid to stimulate other towns famous for their mineral springs. "This is good news that has not happened for 30 years in Kyustendil",...


THE US IS GOING TO BE ONCE AGAIN THE BIGGEST INVESTOR IN BULGARIA IN 2011

THE US IS GOING TO BE ONCE AGAIN THE BIGGEST INVESTOR IN BULGARIA IN 2011
(07/06/2011)

Topics: Investments      

The US is going to be once again the biggest investor in Bulgaria in 2011 over continuous American trust in the country, according to US Ambassador in Sofia, James Warlick. Warlick spoke Tuesday at the conference titled "New Perspectives in the Trade and Economic Relations between the US and Bulgaria," saying Bulgaria must work on becoming an attractive investment location. According to the diplomat, small and large investors have directed their attention towards Bulgaria, but overall...



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