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INVEST BULGARIA INVESTMENT NEWS: (1392 stories found)

BULGARIAN FINMIN FOCUSES ON 'FINANCIAL STABILITY PACT', LEAVES EURO BID ASIDE

BULGARIAN FINMIN FOCUSES ON 'FINANCIAL STABILITY PACT', LEAVES EURO BID ASIDE
(22/02/2011)

Topics: Financial      

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...


BULGARIAN SUMMER RESORT ALBENA EXPECTS 20% MORE GERMANS

BULGARIAN SUMMER RESORT ALBENA EXPECTS 20% MORE GERMANS
(22/02/2011)

Topics: Business      Tourism

The Bulgarian Black Sea resort Albena is expecting a 20% increase of German tourists this summer, in comparison to last year. Yovka Strashilova, Deputy Director in the Sales Department in the resort, said that last year the number of German tourists in Albena were 16% more than the previous year. She has explained the increased interest with the advertising campaign, organized for the second consecutive year by Albena Jsc in cooperation with tour operators. In her opinion, the lower...


EC SLATES EUR 250 M FOR SOFIA METRO

EC SLATES EUR 250 M FOR SOFIA METRO
(22/02/2011)

Topics: Infrastructure      

The European Commission is slating funds from the EU operational program Transport in the amount of EUR 250 M for the metro construction in the Bulgarian capital Sofia. The contract was signed Tuesday between the Deputy Transport Minister, Ivaylo Moskovski and the Head of the municipal company "Metropolitan," Stoyan Bratoev. The funds will be used for the construction of the so-called stage II which includes a segment of the second subway line – from the Obelya district to the Nadezhda...


GREEN ECONOMY FORUM TO OPEN IN SOFIA

GREEN ECONOMY FORUM TO OPEN IN SOFIA
(22/02/2011)

Topics: Economy      

A forum dedicated to the importance of green economy for Bulgaria will be organized on Tuesday in the capital Sofia. International experts, Bulgarian politicians, business representatives, representatives from the Bulgarian Environment Ministry, the World Bank and Innovation Norway will participate in the event. It will be opened by Tove Skarstein, Norwegian Ambassador in Bulgaria. Topics such as the importance of "green" development and the policies which may accelerate the stable...


HUNGARY'S ELMIB TO BUILD EUR 30 M SOLAR PARK IN BULGARIA

HUNGARY'S ELMIB TO BUILD EUR 30 M SOLAR PARK IN BULGARIA
(22/02/2011)

Topics: Business      Renewable Energy

The investment will be handled by Elmib Bulgaria, the Bulgarian subsidiary of Hungary's Elmib, announced Elmib CEO Peter Reicher, the Budapest Business Journal reported citing the Vilaggazdasag business daily. Reicher told the newspaper that the company expects to complete the 15 MW solar park in the Eastern Bulgarian town of Sungurlare within a year and a half. Once up and running, the electricity produced by the solar park will be fed into the Bulgarian national grid, thus saving 11 400...


BULGARIAN HOTEL REVENUES UP 4% Q4 2010 Y/Y

BULGARIAN HOTEL REVENUES UP 4% Q4 2010 Y/Y
(21/02/2011)

Topics: Business      Tourism

The number of overnight stays of Bulgarians in hotels and mountain cabins is down by 0.2% or 2 300 during the last quarter of 2010, compared to the last quarter of 2009. The data was released Monday by the National Statistics Institute, NSI. The number of stays of foreigners is, however, up by 22% or 5 100 during the same period. Greeks have the largest share with 21% of all foreign visitors' hotel accommodations. Almost all of the foreign visitors (over 99%) have chosen to stay in...


IDEAL STANDARD COMPLETES MERGER OF BULGARIAN SUBSIDIARIES

IDEAL STANDARD COMPLETES MERGER OF BULGARIAN SUBSIDIARIES
(21/02/2011)

Topics:       

The two affiliates of Ideal Standard International that operate in the Bulgarian town of Sevlievo were formally merged in one company, officials have announced. The merger between Ideal Standard Bulgaria and Ideal Standard Vidima was completed on January 31, 2011, company executives announced at a news conference in Sofia. The merger was originally supposed to be finalized a day earlier; the merging did not affect the production operations of the two plants. Thus, as of February 1, 2011,...


SAUDI ARABIA BUSINESS KEEN ON DIRECT BULGARIA FLIGHTS

SAUDI ARABIA BUSINESS KEEN ON DIRECT BULGARIA FLIGHTS
(21/02/2011)

Topics: Business      

The Saudi Arabian business wants direct flights to Bulgaria to be launched, Dr. Fahad Al-Sultan , Secretary General for the Council of Saudi Chambers of Commerce and Industry, said Monday. Al-Sultan met with Bugaria's Economy and Energy Minister Traicho Traikov during the International Energy Forum (IEF) gathering in the Saudi capital, Riyadh. Besides the official Bulgarian delegation headed by Traikov, representatives from the Bulgarian Chamber of Commerce and Industry were present at the...


SERBIA CONFIRMS INTEREST IN INVESTING IN BULGARIA'S BELENE NUCLEAR PLANT

SERBIA CONFIRMS INTEREST IN INVESTING IN BULGARIA'S BELENE NUCLEAR PLANT
(21/02/2011)

Topics: Business      Renewable Energy

Serbian Prime Minister Mirko Cvetkovic has confirmed his country's continued interest in acquiring a share of Bulgaria's future second nuclear power plant "Belene". The economic aspects of Cvetkovic's visit in Sofia on Monday were overshadowed by the incident over the weekend in which Serbian authorities obstructed the remembrance of Bulgarian national hero Vasil Levski by the Bulgarian minority in Serbia. Bulgarian PM Borisov and Cvetkovic, however, did focus their talks on certain...


TRANSATLANTIC PETROLEUM BUYS DIRECT PETROLEUM BULGARIA

TRANSATLANTIC PETROLEUM BUYS DIRECT PETROLEUM BULGARIA
(21/02/2011)

Topics: Business      Renewable Energy

Texas-based company TransAtlantic Petroleum has closed deals on the acquisition of 100% of Direct Petroleum Bulgaria EOOD, Direct Petroleum Morocco Inc., and Anschutz Morocco Corporation. The deal with Direct Petroleum Exploration, Inc. was closed on February 18, 2011, TransAtlantic Petroleum said in a statement on Monday. It issued 8 924 478 of its common shares to Direct Petroleum, and paid USD 2 M in cash consideration at closing in addition to USD 492 000 in cash...


BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE

BULGARIAN RESIDENTIAL PROPERTY PRICES STABLE
(20/02/2011)

Topics: Real Estate      Real Estate

Residential property prices in Bulgaria have stabilized around the level from last year, while the volume of transactions has begun to increase. According to the Bulgarian National Radio (BNR), the market is driven by buyers who spend between EUR 45 000 and EUR 65 000 for property, real estate agents said. Russians are the main players on the Bulgarian property market, BNR informed. Last year, real estate prices dropped by 25-30% and these are the levels around which the market will...


BULGARIA TO LURE FRENCH PARTNERS WITH ROSES, WINE & CHEESE!

BULGARIA TO LURE FRENCH PARTNERS WITH ROSES, WINE & CHEESE!
(19/02/2011)

Topics:       

Bulgaria can attract French business partners with its capacities in the production of rose products, wines and cheeses, according to Bulgarian Minister of Agriculture Miroslav Naydenov. Saturday Naydenov is in Paris to open Bulgaria's first-time booth at the International Agricultural Show (Salon International de l'Agriculture 2011). Bulgaria's booth includes the country's strongest companies in the fields of meat and dairy production, winery, apiary and cosmetics, in particular rose...


RYANAIR OPENS NEW MILAN BERGANO ROUTE TO BULGARIA'S PLOVDIV

RYANAIR OPENS NEW MILAN BERGANO ROUTE TO BULGARIA'S PLOVDIV
(18/02/2011)

Topics:       

Irish company Ryanair announced that it will open a new twice-weekly service from Milan Bergano to Plovdiv in Bulgaria which will commence on 7 May. The flights will be serviced on Tuesdays and Saturdays. The company recently dropped plans for a line from the Bulgarian city of Plovdiv to Barcelona, Spain, which was supposed to be launched on March 27. Tickets for the flights were on sale since December 2010. The flights to Milan Bergano is the alternative destination the company offers to...


BULGARIAN TOURISM EXPECTED TO GROW 5-10% WINTER SEASON

BULGARIAN TOURISM EXPECTED TO GROW 5-10% WINTER SEASON
(17/02/2011)

Topics: Business      Tourism

Bulgarian Minister on Economy, Energy and Tourism, Traicho Traikov, has stated the expected growth in tourism sector for the 2010/2011 winter season is 5-10%. "Tourism is one of Bulgaria's economy sectors, which handled the recession the best," Traikov said Thursday at the opening of "Vacation & Spa Expo" in Sofia. He said that the growth in the tourism sector in the country last year was 5%, while expectations for this year's winter season are for 5-10% increase. In his words,...


ROCKEFELLER ENTERS BULGARIA WITH ACQUISITION OF RETAIL PARK PLOVDIV

ROCKEFELLER ENTERS BULGARIA WITH ACQUISITION OF RETAIL PARK PLOVDIV
(17/02/2011)

Topics: Real Estate      

Europa Capital, member of the US real estate company Rockefeller Group, announced it has entered into an agreement to acquire Retail Park Plovdiv, Plovdiv, Bulgaria, from Landmark Property Management. This investment represents the first asset to be acquired by Europa Capital in Bulgaria. The transaction volume for the investment is EUR 20 M. Retail Park Plovdiv is a 25,000 sq m retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east...


CLEVES LAUNCHES MAJOR LUXURY RENTAL BUILDING IN SOFIA

CLEVES LAUNCHES MAJOR LUXURY RENTAL BUILDING IN SOFIA
(16/02/2011)

Topics: Real Estate      Real Estate

Cleves, the luxury apartment rentals company, opened on Tuesday Sofia's most expensive rentals project – Cleves Este, a sumptuous 34-apartment building in the Iztok quarter costing over EUR 10 M. The development was nominated for Bulgaria's "Building of the Year" competition last year. Sofia airport is 10 minutes away by car, and the Interpred Metro station (Joliot Curie) is only 200m away for fast access to Sofia city centre. EUR 2 M has been spent on the fit-out, furnishing and...


WORLD BANK VOWS SUPPORT FOR BULGARIAN INFRASTRUCTURE

WORLD BANK VOWS SUPPORT FOR BULGARIAN INFRASTRUCTURE
(16/02/2011)

Topics: Financial      

The World Bank will continue to support the development of Bulgaria's infrastructure, its Director for Central Europe and the Baltic countries, Peter Harrold, stated in Sofia Wednesday. Harrold, who met with Bulgaria's Prime Minister Boyko Borisov, has guaranteed that the International Financial Corporation, the member of the World Bank Group that finances and provides advice for private sector ventures and projects, will continue to support the country's green investments, as well as the...


BULGARIA REGISTERS 4.5% INFLATION Y/Y JANUARY 2011

BULGARIA REGISTERS 4.5% INFLATION Y/Y JANUARY 2011
(15/02/2011)

Topics: Financial      

Bulgaria's year on year January inflation has been 4.5%, according to the National Statistical Institute's preliminary data. The inflation in Bulgaria has grown with 0.6% in comparison with December 2010, shows the consumer price index, the country's official measure of inflation. The annual average inflation, measured by this index, in the last 12 months (February 2010 - January 2011) compared to the previous 12 months (February 2009 - January 2010) has been 2.8%. The harmonized index of...


BULGARIA SEES 2.1% Y/Y GDP GROWTH 4TH QUARTER 2010

BULGARIA SEES 2.1% Y/Y GDP GROWTH 4TH QUARTER 2010
(15/02/2011)

Topics: Financial      

Bulgaria's GDP growth rate in the fourth quarter of 2010 is 2,1%, year on year and 1,7% compared to the previous quarter, according to the National Statistical Institute's flash estimates. In the fourth quarter of 2010, the GDP at current prices amounted to BGN 19 924 B. The GDP for 2010 in monetary terms amounted to BGN 70 568 B. Compared to the third quarter of 2010, gross value added of the total economy increased by 0.4%. According to flash estimates of GDP by final expenditure, in...


COLLIERS: 20 SOFIA BUILDINGS DROPOUTS OF OFFICE SPACE MARKET

COLLIERS: 20 SOFIA BUILDINGS DROPOUTS OF OFFICE SPACE MARKET
(15/02/2011)

Topics: Real Estate      

The economic slowdown aside, the high share of unoccupied office space in Bulgaria's capital Sofia – 25.4% - is the result of the deficiencies of 20 office buildings, according to a survey of Colliers International Bulgaria. Colliers' analysis shows that a high percentage of the unoccupied office space in Sofia is concentrated in several new buildings and in specific locations in the Bulgarian capital. Thus, 63% of the unoccupied office space in Sofia is focused in 20 buildings, which have...



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