Algeria's Ambassador to Bulgaria Ahmed Boutache has invited Bulgarian construction entrepreneurs to seek opportunities to participate in massive projects in his country.
His Excellency met Thursday with the chair of the Confederation of Employers and Industrialists in Bulgaria (CEIBG) Ognyan Donev and CEIBG executive director Evgeniy Ivanov.
Ambassador Boutache has invited CEIBG, one of the major business associations in Bulgaria, to participate in the Program for Reconstruction and...
The Bulgarian Cabinet has approved a procedure for offering on concession the currently inactive passenger airport of Gorna Oryahovitsa located in the very center of Northern Bulgaria.
The goal of the government is to find a concessionaire that would help attract passenger and freight traffic and will invest in the infrastructure and modernization of the airport.
The development of the Gorna Oryahovitsa Airport is one of the goals of the Transport Ministry, and is included in the Strategy...
Bulgaria's total advertising market amounted to BGN 329.18 M in 2010, which is a decline of 13.9% compared with 2009.
Krassimir Guergov, chair of the Bulgarian Association of Advertising Agencies, announced at an advertising forum in Sofia, as cited by BTA, that the advertising prices saw a similar decline compared with their levels in 2009.
"The preliminary results for 2010 show a decline that is twice as large as the original forecasts," Guergov pointed out.
A year ago, the...
UK oil and gas group Melrose Resources Plc has reported an increase of its 2010 revenues as a result of its development of Bulgarian natural gas fields.
Melrose Resources reported a pre-tax profit of USD 30 M for the year to December, down from the previous USD 31 M, on revenue up 7% to USD 24 M from USD 224 M, Stock Market Wire reported.
The rise in revenue reflected increased production volumes from Bulgaria as new gas fields came on stream, the report says.
Chairman Robert Adair is...
Some 60% of the growth of Bulgaria's exports is the result of an increase in the quantity of the exported goods, according to an analysis of the Bulgarian Industrial Association (BIA).
BIA points out that in 2010 Bulgaria's export did manage to surpass the 2008 level – the highest recorded export the country had before it was massively affected by the global financial and economic crisis.
Thus, in 2010, Bulgaria's exports amounted to BGN 30.5 B, which is BGN 7.6 B more than in 2009, or a...
Bulgaria can achieve economic growth of 2.6% in 2011, according to the forecast of the European Bank for Reconstruction and Development (EBRD).
The Bank's chief expert, Erik Berglof, however, warns the country is facing significant challenges while the biggest source of alarm is the possibility for the lessons from the crisis to not transfer into reforms.
"Prices are going up and the negative effects of the crisis are fading away too slowly," Berglof says.
The expert points out exports...
The Bulgarian Chamber of Commerce and Industry (BCCI) has welcomed in Sofia the leadership of the newly-founded Macedonian-Bulgarian Economic Chamber.
The Macedonian-Bulgarian Economic Chamber (MBEC) was set up on February 24, 2011, in Skopje, by 51 business founders.
On Tuesday, its chair Borislav Zahariev, CEO of Capital Bank in Macedonia, and Ljubomir Josifovski, director of the MBEC presented their program and priorities to the chair of the BCCI Tsvetan Simeonov.
The Russian Metrovagonmash is the wining bidder in the public procurement tender for the delivery of trains for the Sofia metro.
The Russian plant, located in Mytishchi, near Moscow, will deliver 18 trains of three cars each. The cars are from the 81-740/741 "Rusich" series.
The information was reported in Russian media Tuesday.
The other participant in the tender has been the Spanish company CAF.
Since it first opened doors in 1998, the subway in the Bulgarian capital has used only...
There is a "huge" interest among investors for the Bulgarian Stock Exchange, which launched the sale of its shares in January, according to Finance Minister Simeon Djankov.
Djankov declared in Sofia Tuesday that by the end of 2011 Bulgaria will have found a strategic investor for its stock exchange.
He further said that the Finance Ministry does not take part in the sale, which is handled by the Board of Directors of the BSE.
Interestingly, last Thursday, Assen Yagodin, president of...
German company Wintershall has signed with Gazprom a preliminary agreement to acquire 15% of the South Stream pipeline.
This development gives a significant boost to the project, ahead of Russian PM Vladimir Putin's visit to Serbia and Slovenia to negotiate on it.
Over the previous months, there have been repeated reports that the German company, the largest producer of oil and gas in Germany, and owned by BASF, will be joining.
Russian PM Vladimir Putin expressed strong satisfaction...
To make a decision to go ahead with the construction of a second Nuclear Power Plant in Bulgaria's Danube town of Belene is national treason, according to right-wing leader, Ivan Kostov.
The head of the Democrats for Strong Bulgaria (DSB) party commented Monday the position of Prime Minister, Boyko Borisov, who stated in a TV interview a day ago that Belene is going to be built for sure.
Kostov says even if Bulgaria does not pay the full price for the project, the "Russians will use the...
Sopharma Business Towers, an office development in Bulgaria's capital Sofia, has completed its eco facade, the Sopharma Properties company has announced.
The hi-tech eco facade of Sopharma Business Towars is a revolutionary technology in the construction of sustainable and energy efficient Class A office buildings; it is a combination of solar panels, glass and cladding panels allowing the buildings to use the energy from the sun and the natural environment.
"We are very glad that the...
In the latest swirl of statements in his typical style, Prime Minister Boyko Borisov has declared that the government will certainly build the second Bulgarian nuclear power plant in Belene.
"Of course, we are going to build Belene, why wouldn't we!" Borisov told the bTV channel Sunday night even though he has stated numerous times that the troubled project for the Belene nuke is not a sure thing.
The past week has indicated that the Bulgarian government and the state National Electric...
Bulgaria will build a super-fast railroad highway to connect the capital Sofia with the western city of Vidin and the new Danube Bridge there.
The investment amount is estimated at EUR 2.7 B. The railway will be 222-km long; trains will travel with speeds up to 120 km per hour (or the trip between the two cities will be less than 3 hours, compared to the current 5.5 hours); the deadline is 2021.
The railroad highway is part of the European Corridor 4 connecting Central Europe with Turkey...
Dutch company Infinity Energy Holding AG will invest EUR 50 M in a solar power installation near the Bulgarian town of Devnya, near the Black Sea city of Varna.
The announcement was made Friday by the Chair of the Management Board of the company, Tjalling Halbertsma, after a meeting with the governor of the Varna district, Dancho Simeonov.
At present, the company is building the first part of the installation, which is expected to have a power of 5 MW. It has to be completed by the end of...
Bulgaria and Turkmenistan signed an agreement on cooperation in the Agricultural sector on Thursday.
The document was inked by Bulgaria's deputy Agriculture Minister Tsvetan Dimitrov and his Turkmeni counterpart Muradgylych Atayev. Both Ministers exchanged information about the potential sectors of cooperation, such as plant growing and plant protection, veterinary practices, food safety and others.
The agreement is a part of the first sitting of the Intergovernmental Bulgarian-Turkmeni...
Bulgarian and foreign companies are constantly inquiring with the city of Burgas for plots, which is why the Burgas Municipality has moved to set up a new industrial zone, Mayor Dimitar Nikolov announced.
Nikolov declared his hopes for greater investments and more new jobs over the recently announced new industrial and logistics zone to be set up in Bulgaria's Black Sea city and port of Burgas by the local municipality administration and the state-owned "National Company Industrial...
Bulgaria's oldest and largest cosmetics producer "Alen Mak" is on sale for about BGN 8-10 M, according to one of its creditors.
The Plovdiv-based Alen Mak ("Scarlet Poppy") factory, in financial trouble for some years, is one of the iconic brands of Bulgaria's communist period.
It was the last state-owned cosmetics factory to be privatized – in 2002 it was sold for USD 5.5 M to the Swiss company Effekten und Finanz.
Daniela Petkova, CEO of Retirement Insurance Fund "Doverie", one of...
In January 2011, the Bulgarian exports to third countries increased by 74.1% compared to January 2010 and amounted to BGN 1.3 B.
The data was released by the National Statistics Institute Monday.
The main trade partners of Bulgaria were Turkey, China, Russia, Serbia, the former Yugoslav Republic of Macedonia and Singapore, forming 56.4% of the total exports to non-EU countries
The exports to South Africa, China, Kazakhstan and Bosnia and Herzegovina increased significantly. Falls were...
A new industrial and logistics zone will be set up in Bulgaria's Black Sea city and port of Burgas by the local municipality administration and the state-owned "National Company Industrial Zones."
The new industrial zone will be called "Logistics and Industrial Park – Burgas" EAD, and will be located on the territory of Industrial Zone "Burgas-North".
Burgas Mayor Dimitar Nikolov has already tabled to the city council the proposal for the setting up of the joint venture with the...