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INVEST BULGARIA INVESTMENT NEWS: (1391 stories found)

BULGARIAN EXPERTS: REAL ESTATE PRICES TO HIT BOTTOM IN 2011

BULGARIAN EXPERTS: REAL ESTATE PRICES TO HIT BOTTOM IN 2011
(27/12/2010)

Topics: Business      

In 2011, priced for apartments in Bulgaria will hit bottom and go upwards by the end of the year, according to forecasts by real estate experts. “Prices for residences in 2011 will remain at their historically low levels. We expect them to be stable in the big municipal cities. We also expect a delay in the drop of prices in the country in general,” said Teodora Dimitrova, executive director of the Bulgarian office of ERA. Real estate agents from Elta Consult also think that drastic...


GERMAN COMPANY INVESTS EUR 75 M IN BULGARIAN WIND PARK

GERMAN COMPANY INVESTS EUR 75 M IN BULGARIAN WIND PARK
(27/12/2010)

Topics: Investments      Renewable Energy

Bulgarian company IWC Bulgaria 4 owned by German Innovative Wind Concepts is planning a new wind park in the northeastern part of the country near the city of Shumen. The park located by the Krasen Dol village will include 21 wind generators, at 2-3 MW each. The yearly turnout of energy is expected to be over 100,000 MWh. The wind energy facility, which is expected to start working in 2013, will cost some BGN 150 M. The Ministry of Economy and Energy has issued a "Class-A" grading of...


BULGARIA'S PLOVDIV WANTS TO BUILD NEW 'NATIONAL STADIUM'

BULGARIA'S PLOVDIV WANTS TO BUILD NEW 'NATIONAL STADIUM'
(25/12/2010)

Topics: Infrastructure      Construction

The southern city of Plovdiv has come up with an initiative to host a new national stadium of Bulgaria, which could be realized instead of the expensive construction of a new stadium in Sofia. Last week Bulgarian Prime Minister Boyko Borisov announced a plan to construct a new "National Stadium" for international matches to be located in the outskirts of the capital Sofia, near the Sofia International Airport. This project is said to rectify the present situation in which Sofia gets...


CONSTRUCTION OF BULGARIA-MACEDONIA RAIL LINE TO START IN 2012

CONSTRUCTION OF BULGARIA-MACEDONIA RAIL LINE TO START IN 2012
(25/12/2010)

Topics: Infrastructure      Construction

The long-anticipated construction of the railway line connecting the capitals of Bulgaria and Macedonia – which is also a major part of Pan-European Transport Corridor No. 8 – should start in 2012. This has been forecast by Deputy Prime Minister of Macedonia, Vladimir Pesevski, in an interview for the Macedonian TV channel Alfa. The report says the Macedonian government is optimistic that the realization of the project for a railway connection between Sofia and Skopje, which has been...


3RD AUCTION FOR BULGARIAN STEEL BEHEMOTH SCHEDULED AFTER 2 FAILURES

3RD AUCTION FOR BULGARIAN STEEL BEHEMOTH SCHEDULED AFTER 2 FAILURES
(23/12/2010)

Topics: Economy      

The receiver of the bankrupt Bulgarian steel factory Kremikovtzi has scheduled February 7 as the date for the third attempt to sell off the failed behemoth's assets. Two prior auctions were held over the fall, but failed because actually no one turned out to bid for Kremikovtzi, which is considered the pride of communist-era industry in Bulgaria. Unlike the first closed-bid auction, the second was with direct bidding. The starting price was BGN 452 414 008, down by 20% over the initial...


BULGARIA HOPES TO EXPORT ELECTRICITY TO LEBANON

BULGARIA HOPES TO EXPORT ELECTRICITY TO LEBANON
(22/12/2010)

Topics: Economy      

Bulgaria is looking at opportunities to export electricity to Lebanon, according to the Minister of Economy, Energy, and Tourism, Traicho Traikov. As part of a Bulgarian state delegation to Lebanon, Traikov met with Lebanese Minister of Energy and Water Resource Gebran Bassil in Beirut. Bassil has pointed out that Lebanon is planning to invest about USD 1 B in the construction of micro-hydro power plants, and Traikov has suggested that Bulgarian companies could participate in the...


BULGARIAN STATE RAILWAYS HOPE TO BECOME PROFITABLE BY 2015

BULGARIAN STATE RAILWAYS HOPE TO BECOME PROFITABLE BY 2015
(22/12/2010)

Topics: Economy      

Bulgarian state railway company BDZ expects to start making profit in 2015 as a result of a program of wide-ranging measures, its management announced. In the first 11 months of 2010, BDZ improved its financial results by BGN 17 M compared with the same period of 2009, according to Vladimir Vladimir, Chair of the Board of Directors of the state-owned company. He said that the total loss of BDZ in 2010 is expected to be down by between BGN 15 M and BGN 25 M compared with 2009. The board...


RETIREMENT FUNDS 'NATIONALIZATION' ENTERS BULGARIAN CONSTITUTIONAL COURT

RETIREMENT FUNDS 'NATIONALIZATION' ENTERS BULGARIAN CONSTITUTIONAL COURT
(22/12/2010)

Topics: Financial      

Some texts of the Social Security Act will be challenged in the Bulgarian Constitutional Court, the right-wing Blue Coalition announced Wednesday. The Coalition is joined by the left-wing Bulgarian Socialist Party (BSP), the ethnic Turkish party Movement for Rights and Freedoms (DPS) and several independent Members of the Parliament, who want the texts declared anti-constitutional. The co-Chair of the Blue Coalition, Ivan Kostov, announced they have been able to collect 52 signatures in...


BULGARIA MOVES INTO TOP 30 OFFSHORE LOCATIONS - GARTNER

BULGARIA MOVES INTO TOP 30 OFFSHORE LOCATIONS - GARTNER
(21/12/2010)

Topics: Investments      

Bulgaria is one of eight new countries that have made their way into the top 30 destinations for globally sourced activities for the period 2010-2011, all of which are in emerging markets, according to a Gartner report. Five of the new entrants made their debut in the top thirty list (Bangladesh, Bulgaria, Colombia, Mauritius and Peru), along with three re-entrants (Panama, Sri Lanka and Turkey), shows the report entitled "The top 30 countries for globally sourced activities for the period...


BULGARIAN ATLANTIC CLUB SPURS SPECIFIC BUSINESS PROJECTS WITH KOREA

BULGARIAN ATLANTIC CLUB SPURS SPECIFIC BUSINESS PROJECTS WITH KOREA
(20/12/2010)

Topics: Investments      

The delegation of the Bulgarian Atlantic Club, which was on a week-long official visit in South Korea, has come home with several specific business projects underscoring the special interest of Korean companies in Bulgaria. The visit of the delegation of the Bulgarian Atlantic Council to South Korea is the first of its kind in the 20-year history of the diplomatic relations between the Republic of Bulgaria and the Republic of Korea. The delegation consisting of the President of the...


BULGARIAN POSTS BOAST BGN 250 000 IN PROFIT

BULGARIAN POSTS BOAST BGN 250 000 IN PROFIT
(19/12/2010)

Topics: Economy      

The Bulgarian Postal Services have made BGN 250 000 in profits in 2010, the Minister of Transport, Information Technologies and Communications, Aleksander Tsvetkov, told the media Saturday. Tsvetkov further pointed out the Posts have registered a loss of BGN 8 M compared to the 2010 positive result. The Minister and his 9-year-old daughter, Mariana, sent a letter to Santa from the new postal services counter at the "Opalchenska" metro stop in Sofia. A new postal branch is also open at the...


BULGARIA REGISTERS HIGHEST EXPORT GROWTH IN EU 27 IN 2010 Q1-Q3

BULGARIA REGISTERS HIGHEST EXPORT GROWTH IN EU 27 IN 2010 Q1-Q3
(18/12/2010)

Topics: Macroeconomic Data      

Bulgaria has registered the highest year-on-year growth of its exports of all EU 27 countries in the first nine months of 2010, according to latest Eurostat data. Bulgaria's exports grew by 33% in January-September 2010 compared with the same period of 2009. It is followed by Latvia, whose exports grew by 29% year-on-year, Lithuania (28%), Estonia (28%), and Romania (26%). Luxembourg is the only EU 27 country that registered a decrease of its exports in this period of -4%. Sweden...


BULGARIA'S FINMIN PLEDGES TWO VAT REDUCTIONS BY 2013

BULGARIA'S FINMIN PLEDGES TWO VAT REDUCTIONS BY 2013
(18/12/2010)

Topics: Macroeconomic Data      

The Bulgarian government is the only one in Europe that reduced the tax burden in a difficult crisis year such as 2010, Finance Minister Simeon Djankov said. "There is no other government in Europe that did what we did. 2010 was a year of financial stability for Bulgaria. We did not raise the taxes, and did not decrease the pensions. There will be a reduction of the VAT rather soon in 2011. By the end of our term, there will be a second decrease of the value-added tax," Djankov promised on...


NEW FRENCH HYDRO-POWER PLANT UNVEILED IN BULGARIA

NEW FRENCH HYDRO-POWER PLANT UNVEILED IN BULGARIA
(18/12/2010)

Topics: Investments      Renewable Energy

The Dzherman hydro-power plant, an investment of "Electricite de France Energies Nouvelles" (EDF EN), was formally opened in Southwestern Bulgaria on Saturday. French energy company, which is one of the largest in Europe, has invested a total of EUR 4.16 M in the hydro-power plant. The plant has a capacity of 3 MW; it will be producing about 10 500 MW/h of electricity a year. It was opened by Bulgaria's Economy, Energy, and Tourism Minister Traicho Traikov and the new French Ambassador to...


140 BULGARIAN BUSINESSES LISTED FOR SALE IN FINANCIAL TIMES

140 BULGARIAN BUSINESSES LISTED FOR SALE IN FINANCIAL TIMES
(17/12/2010)

Topics: Business      

The Business for Sale supplement of Financial Times has listed 140 Bulgarian businesses, offered for sale. Most are real estate properties, but the offers also include companies such as a software business and even a TV channel. Buyers are mostly attracted to hotels and family vacation homes. Listing prices are over USD 1 M to the record USD 35 M for a hotel in Bulgaria's largest summer resort "Sunny Beach.". Properties for sale include a land plot near the Sofia airport, an office...


BDB STRIKES AGREEMENT WITH KOREAN EXPORT-IMPORT BANK

BDB STRIKES AGREEMENT WITH KOREAN EXPORT-IMPORT BANK
(17/12/2010)

Topics: Business      

The Bulgarian Development Bank (BDB) and the Export-Import Bank of Korea (Korea Exim Bank) has signed a permanent cooperation agreement. The aim of the agreement is to encourage and promote investment and trade between Bulgaria and the Republic of Korea. The document was signed by the CEOs of BDB, Dimitar Dimitrov and Sasho Chakalski, and the President and Chairman of the Korea Exim Bank, Dongsoo Kim. The two banks have agreed to finance projects to together and to work to boost the...


BILLA SUPERMARKET LAUNCHES 20TH STORE IN SOFIA

BILLA SUPERMARKET LAUNCHES 20TH STORE IN SOFIA
(17/12/2010)

Topics: Business      

The supermarket chain Billa is opening Saturday its 20th store in the Bulgarian capital Sofia, the company announced. Billa, which is owned by German concern REWE Group, currently operates 84 outlets in Bulgaria. The new store is located in the very heart of the capital's downtown, on 116 "Rakovski" street, near the "Slaveykov" square. Despite being smaller than the Billa supermarkets in the suburbs, of the so-called compact type, the store will offer a variety of merchandise,...


BULGARIAN TRAKIYA HIGHWAY'S APPLICATION FORM TO BE APPROVED

BULGARIAN TRAKIYA HIGHWAY'S APPLICATION FORM TO BE APPROVED
(17/12/2010)

Topics: Business      

Bulgarian Trakiya highway's permit application form is to be approved by the European Commission by the end of 2010, according to Deputy Transport Minister Ivaylo Moskovski. The application form has gone through all the required processing and is currently undergoing a mutual agreement procedure at the European Commission, Moskovski announced. The highway's total budget is EUR 250 M, of which EUR 188 M has already been secured. The construction of the longest trace betwen towns of...


NEW HIGHWAY JUNCTION UNCLOGS TRAFFIC IN WESTERN BULGARIA

NEW HIGHWAY JUNCTION UNCLOGS TRAFFIC IN WESTERN BULGARIA
(17/12/2010)

Topics: Business      

Bulgaria's Road Infrastructure Agency has opened the Daskalovo road junction, which is expected to unclog the road traffic in all of Western Bulgaria, including the roads to Macedonia and Greece. The Daskalovo junction connects two major highways in Southwestern Bulgaria, which are still under construction – the 19-km Lyulin Highway, and the 156-km Struma Highway. The head of the Road Infrastructure Agency, Bozhidar Yotov, opened on Friday only the lower level of the Daskalovo road...


S&P CONFIRMS BULGARIA'S CREDIT RATINGS

S&P CONFIRMS BULGARIA'S CREDIT RATINGS
(17/12/2010)

Topics:       

Bulgaria's long- and short- term foreign and local currency credit ratings has been affirmed as 'BBB/A-3' by the credit agency Standard&Poor's. The agency has deemed the long-term credit rating outlook for the country as stable. The transfer and convertibility risk assessment (T&C assessment) rating remains an unchanged 'A'. "The ratings on the Republic of Bulgaria factor in our favorable view of its fiscal track record, its low gross debt, and its medium-term growth...



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