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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

BULGARIA'S PLOVDIV, GREECE'S KAVALA MULL AIR CONNECTION

BULGARIA'S PLOVDIV, GREECE'S KAVALA MULL AIR CONNECTION
(06/06/2011)

Topics: Business      Tourism

Greek investors are considering launching a direct air line between the Bulgarian city of Plovdiv and the Greek town of Kavala on the Aegean Sea coast. The idea for the Plovdiv-Kavala line has been discussed for several months and was confirmed over the weekend during an aviation show in Kavala, the Maritsa newspaper reported. By setting up a direct air line, Greek businesspeople are said to be aiming at increasing the number of Bulgarian tourists from Plovdiv. The Greek project is...


BULGARIA'S UNEMPLOYMENT RATE LOWEST SINCE NOV 2009

BULGARIA'S UNEMPLOYMENT RATE LOWEST SINCE NOV 2009
(06/06/2011)

Topics: Macroeconomic Data      

In May 2011, Bulgaria registered its lowest monthly unemployment rate since November 2009, according to official data from the State Employment Agency. Thus, formal figures indicated that in May 2011, Bulgaria's unemployment rate was 8.87%, which is 0.42 pp lower than in April, and the first time since October 2010 when the unemployment is below 9%. The previous lower monthly unemployment figure was recorded back in November 2009 when it was 8.66%. A total of 328 533 persons were...


BULGARIAN COURT RULES 'NATIONALIZATION' OF PRIVATE RETIREMENT FUNDS ILLEGAL

BULGARIAN COURT RULES 'NATIONALIZATION' OF PRIVATE RETIREMENT FUNDS ILLEGAL
(06/06/2011)

Topics: Economy      

Bulgaria's Constitutional Court declared the transfer of deposits in private retirement funds to the National Social Security Institute (NOI) anti-constitutional. The rule dates from May 31, and is published on the Court's official internet page. The revoked paragraph 4a from the Social Security Code stated that "funds from individual accounts existing by January 1, 2011, of females born between 01.01.1955 and 12.31.1959, and males born between 1.1.1952 and 12.31.1959, which until...


BULGARIAN RECYCLING BUSINESS RISES AGAINST 'ANTI-METAL THEFT' LAW

BULGARIAN RECYCLING BUSINESS RISES AGAINST 'ANTI-METAL THEFT' LAW
(05/06/2011)

Topics: Business      Waste Management

Bulgaria's draft Waste Management Act, which is supposed to prevent rampant metal theft, has come under vigorous fire by the Bulgarian Recycling Association. The new law will force 1 000 SMEs into bankruptcy, which have acquired unlimited licenses for trading with ferrous and non-ferrous metals, costing the economy 14 000 jobs, according to the Bulgarian Recycling Association. The draft act stipulates that depots for the purchase of scrap can be located only on municipal grounds within...


GAZPROM TO POWER AHEAD WITH 2 SOUTH STREAM PIPES FROM RUSSIA TO BULGARIA

GAZPROM TO POWER AHEAD WITH 2 SOUTH STREAM PIPES FROM RUSSIA TO BULGARIA
(04/06/2011)

Topics: Economy      

Gazprom will start construction of the South Stream gas pipeline to pump natural gas to Europe along the bed of the Black Sea with two parallel legs, Gazprom CEO Alexei Miller said on Monday. "We plan to build two pipeline legs with a capacity of 15.5 billion cubic meters each; they will be built in parallel," Miller said, as cited by RIA Novosti. The South Stream pipeline is intended to transport up to 63 billion cubic meters of natural gas to central and southern Europe, diversifying...


AMERICAN AES LAUNCHES BULGARIA'S GALABOVO TPP

AMERICAN AES LAUNCHES BULGARIA'S GALABOVO TPP
(03/06/2011)

Topics: Investments      

The new Termal Power Plant, TPP, "AES Galabovo" is being launched Friday near the southern Bulgarian city of Stara Zagora. The project cost is estimated at EUR 1.2 B. The investor is the American energy giant "AES" with its CEO, Peter Lithgow, stating the company is prepared to slate as much funds as needed because the TPP is a strategic facility for Bulgaria. Initially the first two units will work at 70% of their capacity, while full capacity will be reached at the end of the year. The...


BULGARIA AIR WELCOMED TO EMBRAER'S E-JETS PORTFOLIO

BULGARIA AIR WELCOMED TO EMBRAER'S E-JETS PORTFOLIO
(03/06/2011)

Topics: Business      

Bulgaria's Bulgaria Air airline has been officially included in Embraer's portfolio of E-Jets costumers. Under a new agreement with a leasing company, the Bulgarian air carrier will will operate three Embraer 190 jets from Sofia. "It's wonderful to have another customer endorsing our E-Jets philosophy in this region of Europe," said Paulo César de Souza e Silva, Embraer President, Commercial Aviation, as cited by charterx.com on Friday. "E-Jets are already flying with airlines in Moldova,...


BULGARIA STARTS REHABILITATION OF ABANDONED NORTHERN ROAD

BULGARIA STARTS REHABILITATION OF ABANDONED NORTHERN ROAD
(03/06/2011)

Topics: Infrastructure      Construction

A whole array of senior government officials have given the start of the rehabilitation of the road between the Northern Bulgarian cities Pleven and Lovech, its first repairs in 26 years. The road infrastructure project was opened by Deputy PM and Finance Minister Simeon Djankov, a native of Lovech, Regional Development Minister Rosen Plevneliev, and Parliament Chair Tsetska Tsacheva, who is herself a native of Pleven, among other officials. "I will not tire of repeating that Northern...


FOOTBALL LEGEND STOICHKOV VOWS TO BRING INVESTMENTS FOR NEW BULGARIAN STADIUMS

FOOTBALL LEGEND STOICHKOV VOWS TO BRING INVESTMENTS FOR NEW BULGARIAN STADIUMS
(03/06/2011)

Topics: Investments      

Hristo Stoichkov, legendary former Barcelona striker, has come to his native Bulgaria with Spanish businessmen interested in investing in new Bulgarian stadiums. It is now the Bulgarian state's responsibility to keep their interest alive, Stoichkov stated before journalists in Sofia. "The investors are as serious in their intentions as (Prime Minister) Boyko Borisov and Sports Minister, Svilen Neykov, " he said. "They will do all they can to build stadiums in Bulgaria, just like those in...


IRISH ISLAND RENEWABLE ENERGY TO BUILD WIND PARK IN BULGARIA

IRISH ISLAND RENEWABLE ENERGY TO BUILD WIND PARK IN BULGARIA
(03/06/2011)

Topics: Investments      Renewable Energy

Irish company Island Renewable Energy will build a wind park in the Northern Bulgarian Suhindol municipality. The project, which may be launched after, wind measurements and a feasibility study, involves a 90-megawatt wind farm with 30 wind turbines valued at EUR 130 M. The investment is to be made by Island Bulgaria Ltd., a subsidiary of the Irish company. The new wind power park will cover an area 50 decares and is expected to be operational in 2014. Its construction will secure...


SERBIA RUSHES WITH BULGARIAN HIGHWAY TO COMPETE WITH BULGARIAN-ROMANIAN BRIDGE

SERBIA RUSHES WITH BULGARIAN HIGHWAY TO COMPETE WITH BULGARIAN-ROMANIAN BRIDGE
(03/06/2011)

Topics: Infrastructure      Construction

Serbia is hurrying to build a highway to the Bulgarian border before the completion of the second Bulgarian bridge on the Danube, according to Serbian Transport Minister Milutin Mrkonjic. In 2010-2011, Bulgaria and Serbia have stressed the need to complete the construction of the Sofia-Nis Highway, with Bulgaria taking steps to construct the 70-km section from Sofia to Kalotina on the Serbian border. The route is part of the so called Pan-European Transport Corridor No. 10 from Istanbul to...


BULGARIA TO BEGIN EXPLORATORY WORK ON SOUTH STREAM

BULGARIA TO BEGIN EXPLORATORY WORK ON SOUTH STREAM
(02/06/2011)

Topics: Infrastructure      

Bulgaria will launch exploratory work in the Black Sea to set the route of the future South Stream gas pipeline, announced Foreign Minister Nikolay Mladenov after a meeting in Moscow with his Russian counterpart Sergey Lavrov. "Naturally, we discussed major strategic projects like South Stream", Mladenov declared, adding that he had filed a document to the Bulgarian Council of Ministers permitting the start of exploration activities in Bulgaria's Black Sea region. The South Stream gas...


BULGARIA TO INVEST BGN 100 M IN EXTENDING LIFE OF KOZLODUY NUCLEAR REACTORS

BULGARIA TO INVEST BGN 100 M IN EXTENDING LIFE OF KOZLODUY NUCLEAR REACTORS
(02/06/2011)

Topics: Investments      

Bulgaria will need to invest over BGN 100 M in the extension of the life of the two operational 1000-MW reactors of the Kozloduy nuclear power plant, according to its CEO Kostadin Dimitrov. Speaking at the Bulatom energy forum in Varna Thursday, Dimitrov said the technical surveying of the two reactors will last 18-24 months. It is expected to provide answers on how to go about extending the life of Units 5 and 6 of the only Bulgarian NPP, whose 440-MW Units 1-4 were shut down in 2002-2006...


BULGARIA REGISTERS BUDGET SURPLUS IN APRIL THANKS TO CENTRAL BANK CONTRIBUTION

BULGARIA REGISTERS BUDGET SURPLUS IN APRIL THANKS TO CENTRAL BANK CONTRIBUTION
(01/06/2011)

Topics: Financial      

Bulgaria registered a monthly surplus of BGN 190.5 M in April 2011, the second month in a row with a positive balance, the Finance Ministry announced. The April surplus appears to have resulted from the contribution of BGN 200.9 M of the Bulgarian National Bank (BNB) to the state budget, which is a leftover from BNB's 2010 surplus. Meanwhile, Bulgaria's fiscal reserve appears to have been depleted further. In March 2011, Bulgaria's budget registered a surplus of only BGN 8 M. In the...


BULGARIA REGISTERS NOTABLE INCREASE BIODIESEL CONSUMPTION IN 2010

BULGARIA REGISTERS NOTABLE INCREASE BIODIESEL CONSUMPTION IN 2010
(01/06/2011)

Topics: Business      Automotive

Biodiesel consumption in Bulgaria registered a staggering increase in 2010 amounting to 38 911, 13 tons, according to preliminary information from the Ministry of Economy, Energy and Tourism. Biodiesel consumption in the previous two years came in at 4260 tons and 6566 tons, respectively, following a report prepared by Traicho Traikov, Minister of Economy, Energy and Tourism, on the implementation of national indicative targets for the use of biofuels and other renewable fuels in the...


BULGARIA'S 2020 ENERGY STRATEGY FOCUSES ON EFFICIENCY, RENEWABLES

BULGARIA'S 2020 ENERGY STRATEGY FOCUSES ON EFFICIENCY, RENEWABLES
(01/06/2011)

Topics: Economy      

The Bulgarian Parliament has adopted the country's much-anticipated Energy Strategy by 2020, which emphasizes energy efficiency and renewable energy sources. The document was approved with 79 votes in favor and 27 votes against, without any abstentions, with only 106 out of 240 MPs in attendance despite its importance. The document lists the following priorities: guaranteeing the security of energy supplies, the introduction of new and the development of existing mechanisms for boosting...


BULGARIA'S BANKING SYSTEM STABLE, CORPORATE LENDING ON THE RISE

BULGARIA'S BANKING SYSTEM STABLE, CORPORATE LENDING ON THE RISE
(01/06/2011)

Topics: Financial      

Data on Bulgaria's banking system as of April 30, 2011, has indicated no negative change in its financial stability, according to the latest report of the Bulgarian National Bank (BNB). April has marked the highest monthly growth of corporate lending in Bulgaria since the beginning of 2011. BNB data shows that the liquid asset ratio, as calculated under BNB Ordinance 11, preserved its high level at 23.70%. "The liquidity position of individual credit institutions remained adequate....


BULGARIAN CIGARETTE COMPANY TABLES EUR 1 M PROFIT Q1

BULGARIAN CIGARETTE COMPANY TABLES EUR 1 M PROFIT Q1
(31/05/2011)

Topics: Economy      

Bulgarian state cigarette producer Bulgartabac registered a net profit of BGN 2.17 M for the first quarter of 2011. For the same period in 2010, Bulgartabac had a net loss of BGN 2.3 M. The main reason behind the better performance this year is a 64% growth of revenue from cigarette sales, as well as 41% growth of revenue from export. Beginning of May the Bulgarian government announced a privatization bid for Bulgartabac, having stated it is looking for a strategic investor. This comes...


BULGARIAN NUCLEAR PLANT STRESS-TEST TO COST BGN 12 M

BULGARIAN NUCLEAR PLANT STRESS-TEST TO COST BGN 12 M
(31/05/2011)

Topics: Politics      

The stress-test of the Bulgarian Kozloduy Nuclear Power Plant, NPP, required by the European Union, will cost anywhere between BGN 10 and 12 M. The information was reported by the company's CEO, Kostadin Dimitrov, during a public debate on electric power prices, held Monday at the State Commission for Energy and Water Regulation (DKEVR). According to the CEO, DKEVR failed to acknowledge some of the important expenses of the NPP when determining the new prices of electricity, effective...


MINISTER: BULGARIA HAS NO PLANS TO GIVE UP NUCLEAR POWER

MINISTER: BULGARIA HAS NO PLANS TO GIVE UP NUCLEAR POWER
(30/05/2011)

Topics: Economy      

Bulgaria has no intention to give up nuclear energy, stated Bulgarian Minister of Economy and Energy Traicho Traikov Monday. Traikov was commenting the decision of the German government announced today to phase out all nuclear reactors by 2022 and to discontinue the production of electricity from fission. "Bulgaria will give up nuclear energy only when it gets populated by Germans," ironically commented the Bulgarian minister. Traikov mentioned that Bulgaria is committed to building a...



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