A Spanish consortium has expressed interest in buying "parts" of what used to be Bulgaria's largest steel-maker Kremikovtzi, Bulgarian Economy Minister Traicho Traikov announced in Madrid.
Traikov was in Madrid on Friday as part of a Bulgarian government delegation to Spain led by Prime Minister Boyko Borisov.
The firms from the Spanish consortium SHP-Advisers have declared readiness to apply for EU funding for an EUR 20 M project for "the re-cultivation of the terrain" on which...
The Bulgarian government has started procedures for finding private operators of the cargo terminal of the southern Plovdiv Airport, and of the civilian airport Shtraklevo near the Danube city of Ruse.
The main purpose of the concession in Plovdiv is to increase the activity of the airport, to attract more air traffic and to develop competitive commercial activities regarding mostly cargo processing.
The second concession aims at restoring the activity of the Ruse Airport, at reaching...
Strict rules ensuring financial stability do not limit politicians but discipline them, Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, said during his public lecture at Harvard University in the US.
Djankov stressed the need of principles for fiscal discipline, backed by the law during his lecture at the Harvard Kennedy School of Government, as cited by the press service of the Bulgarian Finance Ministry.
The Bulgarian Finance Minister has used the opportunity to...
Bulgaria's government is going to reduce substantially the fees for the transport of trucks by railway in order to encourage the use of the so called "Rolling Highway" transport.
The government press service announced that the Cabinet intends to cut in half the amounts charged for transporting trucks by rail collected by the National Company Railway Infrastructure.
The idea of the Cabinet is to stimulate the combination of the truck and railway transport of goods. The measure will refer...
Bulgaria registered a monthly budget deficit of BGN 477.3 M on cash basis in January 2011, according to latest data of the Finance Ministry.
The monthly deficit was formed by putting together the deficit of BGN 394.7 M from the consolidated fiscal program of the state budget, and a deficit of BGN 82.6 M in Bulgaria's EU-transactions (i.e. its contribution to the EU budget vs. the absorbed EU funds.)
The BGN 477.3 M deficit in January 2011 is still a minor improvement on an annual basis as...
Bulgaria's Cabinet is going to start procedures for finding private operators of the cargo terminal of the southern Plovdiv Airport, and of the civilian airport Shtraklevo near the Danube city of Ruse.
The concession procedures for the two airports are on the agenda of the Cabinet's meeting on Wednesday.
While there was investor interest in the cargo terminal of the airport in the southern city of Plovdiv a couple of years ago, it remains unclear if the government's motion will generate...
Bulgaria's state cigarette maker Bulgartabac Holding, which is about to be privatized, completed 2010 with a net profit of BGN 20 M.
The company's financial performance was announced in a statement in which its management also said that the profit "confirms the consistent trend of positive financial results."
Bulgartabac's 2010 profit is 16.5 times larger than it was in 2009. The consolidated income from cigarette sales grew 22% year-on-year.
In 2010, 80% of the produce of Bulgartabac...
Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, is giving Monday a lecture at Harvard University dedicated to the country's financial stability.
The information is reported by the Bulgarian Finance Ministry press center.
Djankov is on a working visit to the US which will conclude on March 6.
The Minister will also meet Harvard professors, the University leadership and Bulgarian college students from the Boston area.
Other events in Djankov's US agenda will...
In February 2011 the total business climate indicator has increased by 2.7% in comparison with the previous month, but is still 8.3% below its long-term average value, the National Statistical Institute has informed.
The composite indicator of business climate in industry has increased by 4.1 percentage points in comparison with January and it is only 2.5 percentage points below its long-term average value. The inquiry registers increased managers' optimism about the expected business...
A new office complex with a Hilton Garden Inn hotel will be opened in Bulgaria's capital Sofia in the third quarter of 2011, according to reports.
About EUR 40 M will be invested in the BLU Offices & Hilton Garden Inn complex, reported Bulgarian business news site investor.bg citing IHM OOD, the investor in the new development.
The new office and hotel complex will be located on the Brussels Blvd very close to the Sofia International Airport. The first Hilton Garden Inn-branded hotel in...
Major international banks have submitted notifications of intent to work in Bulgaria to the Bulgarian National Bank.
A total of 190 credit institutions have expressed interest in entering the Bulgarian market, according to the 24 Chasa daily; 18 of them, including 16 banks, have already notified the BNB that they want to operate in Bulgaria.
The list of major international credit institutions considering the Bulgarian market includes JP Morgan, Goldman Sachs Europe, Barclays Bank,...
Bulgaria has a great potential in the development of high technologies and should consistently pursue it, according to Texas Institue of Science CEO Laslo Olah.
Olah spoke to BGNES within his working visit to Sofia, hosted by the Bulgarian Academy of Science.
The Texas Institue of Science CEO and President commented that lamentably the climate in Bulgaria does not favor innovation and development, despite the country's high capacities in research.
"A good system is one that allows...
Russia is reiterating talk of suing Bulgaria over foiling the project to build the Burgas-Alexandroupolis oil pipeline, according to Russian Energy Minister, Sergey Shmatko.
The Russian news agency RIA Novosti is citing Shmatko saying Russia is still interested in the project over its economic feasibility, but is prepared to withdraw after receiving compensations.
The statement comes about a week after Moscow warned it will scrap the pipeline and then recanted the announcement.
"We...
Belgian retailer Delhaize is expected to acquire 50% of Serbian conglomerate Delta Holding, which owns the chain Piccadilly, operating in Bulgaria.
Financial Times reported Thursday that the final agreement will be announced by early March, but Delhaize is expected to take a 50% stake of the Serbian supermarket network, which have annual earnings of more than EUR 1 B on a turnover of EUR 2.7 B.
The deal would make Delhaize the first big western European retailer to break into a regional...
Bulgaria's Parliament has approved the setting up of a joint venture between the Bulgarian "National Company Industrial Zones" and the Qatar Investment Authority.
The future joint venture of the state entities of Bulgaria and Qatar will have a capital of at least USD 500 M, with all of the money being provided by the Qatar Investment Authority.
The funds will be invested in Bulgarian agriculture, real estate, tourism, finance, and other attractive investment opportunities.
The document...
Bulgaria has made it to the thirteenth spot in a new ranking of property markets, which remain popular for foreign mortgages among Britons.
The Bulgarian market has attracted 1.3% of the searches for properties abroad at the site of Rightmove Overseas in January, while their number increased by 40,5% over December.
Britons continue to be attracted most by the idea of taking out a foreign mortgage for a property in Spain, the ranking shows.
Australia, New Zealand and Canada have...
Bulgaria's government decided on Wednesday to waive USD 6.3 M or 77% of Zimbabwean debt, which has not been serviced in the past 20 years.
The remainder of Zimbabwe's debt – a total of USD1.886 M will be paid in four installments within one year, the Sofia-based cabinet said.
Should the Zimbabwean government fail to fulfill its obligation under the agreement, it will be obliged to pay the debt in full in one installment in the framework of sixty days.
Zimbabwe's USD 8.2 M debt piled...
The Bulgarian government has accepted a draft memorandum on economic cooperation with east China's Jiangsu province.
Exchanging information on investment policies, opportunities for establishing joint industrial projects and joint ventures, and opening offices and branches will be the key activities Bulgaria and Jiangsu would promote from now on, according to the memorandum.
Jiangsu is one of the most economically vibrant Chinese provinces, home to many of the world's leading exporters of...
A bilateral protocol on economic cooperation was signed between Bulgaria and Serbia on Tuesday.
The document was inked by Bulgaria's Minister of Transport and IT Alexander Tsvetkov and Serbia 's Minister of Trade and Services Slobodan Milosavljevic. The collaboration between partner institutions from the two countries on export growth, the cooperation between small- and medium sized companies and trade chambers, as well as organizing business forums have been pointed out as its key...
Bulgaria's Finance Minister Simeon Djankov plans to dedicate all of his efforts to the passing of Constitution amendment guaranteeing stable state finances, known as the "Financial Stability Pact."
The measures termed "Financial Stability Pact" were first announced by Djankov on February 8 at a lecture at the New Bulgarian University in Sofia following the US tradition in which crucial policy speeches are delivered at academic institutions.
On Tuesday, Djankov and his two deputies...
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