The only direct Bulgaria-Russia transport line – the Varna-Port Kavkaz ferry – has seen an increase of freight traffic of 332% in 2010 so far, year-on-year.
This data was presented Monday at the founding session of the Bulgarian-Russian Council for Joint Operation of the Railway Ferry Line between Port Varna and Port Kavkaz, the press service of Bulgaria's state railway company BDZ announced.
The Council has been created in accordance with the Ministries of Transport of Bulgaria and...
Bulgaria's Finance Minister Simeon Djankov is on a three-day visit to Georgia, the Financial Ministry announced.
On Monday, Djankov is going to participate with a public lecture in a conference entitled "Making a Difference for Entrepreneurs: Reforming Business Regulation in Eastern Europe and Central Asia" in Georgia's capital Tbilisi.
Later, he will meet Georgia's President Mikhail Saakashvili, Prime Minister Nika Giladuri and Finance Minister Kakha Baindurashvili.
On Tuesday,...
Tour operators forecast that Bulgarians will continue to limit the amount of money they spend on vacations through the whole winter season.
According to the forecasts, the number of trips abroad, which has been decreasing since the beginning of 2010, would probably continue the tendency.
The tourism industry in Bulgaria expects that during the upcoming winter season, short vacations would be preferred the most.
Information from the Sofia Airport showed that in 2010 the big tour...
Bulgaria's Competition Protection Commission has approved the request of Austria's biggest banking group, Raiffeisen Zentralbank Austria AG to buy out the Mall Varna shopping and office center in the Black Sea city of Varna.
Raiffeisenbank will thus go ahead with the purchase 100% of Miller Mall Varna One EAD, headquartered in Sofia. RZB is the owner of Raiffeisenbank Bulgaria, which owns Raiffeisen Real Estate.
Raiffeisenbank Austria AG is a holding company of the Raiffeisenbank Group,...
Along with attacking Europe's failing framework amids the euro crisis, Bulgaria's finance minister has made it clear the country will pursue with zeal entry into the currency union, so that it can reap its benefits as well.
"The Bulgarian currency the lev has been tied to the euro since 1999, so in a way we are already in a situation where it is as if we have the euro and all of its recent negatives. But we don't have the main positive, which is actually having the euro bills," Simeon...
Bulgaria's Parliament amended Friday the Postal Services Act to remove the monopoly of the state-owned company "Bulgarian Posts EAD".
Thus, as of January 1, 2011, the monopoly of Bulgarian Posts on small parcels – less than 50grams – is eliminated.
At the same time, the law assigns to the state company the universal postal services in the country for a period of 15 years based on the fact that Bulgarian Posts is the only entity in Bulgaria which has the infrastructure to provide these...
American energy giant AES is expecting the adoption of Bulgaria's law on renewable energy in order to go ahead with its planned major solar park investment, AES Country Manager for Bulgaria Peter Lithgow told Novinite.com (Sofia News Agency).
In an interview for the Bulgaria-US Survey of Novinite.com (Sofia News Agency) Lithgow implied that AES could still select another country for its USD 400 M photovoltaic park investment if the long-anticipated Bulgarian legislation on renewable energy...
Bulgaria's Parliament has adopted long-anticipated changes to the Commercial Register Act extending by 6 months the legal deadline for the campaign to register anew all firms in the country.
Under the Commercial Register Act changes adopted in 2008, all active legal companies in Bulgaria are required to make new registration with the Registry Agency so that inactive and "ghost" firms can be eliminated from the entries.
With Friday's amendments, the deadline is extended from December 31,...
The Bulgarian government is planning 6 new tenders for natural gas exploration permits in the near future, Diana Yaneva from the Ministry of Economy has told Novinite (Sofia News Agency).
This information comes in a context where shale gas - a novel approach of extracting gas dissolved in clay-like rocks - is becoming popular in Bulgaria.
This far two companies involved in shale gas production - Direct Petroleum and Park Place Energy - have received permits from the government. Major US...
The Varna Towers shopping mall and office center in the Bulgarian Black Sea city of Varna has opened doors.
One of the greatest attractions of the complex is the only rotating restaurant in Southeast Europe named Magnito, located on the top of the Eastern Tower.
At the same time, the top of the Western Tower features a helicopter landing ground, which is the first in Bulgaria to be located on the roof of a building.
Varna Towers appears to be one of the largest malls in Varna with a...
Microsoft Bulgaria does not have any requirements that smaller local computer assemblers should meet in terms of configurations, says the company's country manager.
"For the very big local assemblers Microsoft has guidelines and requirement about production quality, and helps them certify their products. For the smaller local assemblers, all resources are free, and there are no specific requirement," George Randelov, Country Manager at Microsoft Bulgaria, said in an interview for...
German discount retailer Lidl opened its first stores in Bulgaria on Thursday morning, offering shockingly low prices, a move that will certainly heat up further the competition in the sector.
The fourteen shops are located in eleven cities - Sofia, Plovdiv, Varna, Stara Zagora, Pazardzhik, Sliven, Kurdjali, Petrich, Montana, Lovech and Gabrovo.
The investment totals EUR 100 M. The company plans to expand its operations in Bulgaria in the short term, bringing the total number of its...
About 55% of the construction of the so called Danube Bridge 2, the second one to connect Bulgaria and Romania over the Danube River, have been completed.
This information emerged on Thursday as Bulgarian Prime Minister Boyko Borisov inspected the construction of the long-anticipated bridge connecting Bulgaria's Vidin and Romania's Calafat.
"I am happy with what I saw, I hope the builders will complete the bridge within the deadlines to make up for the delays," Borisov said on the spot,...
Qatar is interested in Bulgaria's cattle breeding and fishing sector, its Environmental Minister Abdulla bin Mubarak Abud Almudadi announced Thursday.
Qatar considers importing Bulgarian meat and other food products, including living cattle -sheep and lambs.
"We have a considerable interest in Bulgaria's agricultural sector and we hope they materialize as soon as possible," Minister Almudadi stated.
He met with his Bulgarian counterpart Miroslav Naydenov as a part of Naydenov's...
Russian mining and steel conglomerate Mechel OAO has acquired another 51% stake in the heating and power plant in the Danube town of Russe, northern Bulgaria, boosting its interest to 100%.
The Moscow-based company said the move will strengthen its position in the power industry and create development opportunities.
Mechel paid EUR 52 M to boost its stake in the plant to 100% from 49% previously, the seller, Slovenia's Holding Slovenske Elektrarne (HSE), said on its...
Bulgaria's trade unions, employers and the cabinet signed two agreements to regulate the rights of those who work from home and of freelancers.
The agreements were concluded Wednesday at the Council of Ministers in the presence of Prime Minister, Boyko Borisov and the Minister of Social Policy and Labor, Totyu Mladenov.
The agreements include a mandate for those working from home to have labor contracts, pay social security, and have years of service count towards retirement for freelance...
Bulgarian Deputy Prime Minister and Finance Minister Simeon Djankov has emphasized the plans and efforts of Bulgaria's government to attract large-scale investments from the People's Republic China.
"China is the economy of the 21st century. We've seen growing interest from Chinese investors of coming to our region, specifically Bulgaria," Djankov said at the Bloomberg Businessweek European Leadership Forum in London, as cited by Bloomberg.
Bulgaria's Finance Minister, a former senior...
US computer giant Hewlett-Packard picked Bulgaria for the construction of a new development and support center because of its history of success and the facilitating partnership of the government, says HP Director Public Sector for Central & Eastern Europe.
"Bulgaria will remain a preferred European market for outsourcing and off-shoring services if the government sustains the competitive position of the country and the quality of the education system is good enough," Sasha Bezuhanova said...
The United Arab Emirates (UAE) are interested in the opportunity to import meat, diary products and fruits, Bulgarian Agriculture Minister Miroslav Naydenov informed.
Naudenov announced that in Abu Dhaby, where he met Chief Executive Officer of the Emirates Investment Authority, Rashid Mubarak al-Mansouri. The Bulgarian Agriculture and Food Minister has invited the authority to visit Bulgaria in order to get acquainted with possible investment opportunities.
Meanwhile, the Abu Dhabi...
At least 11 providers of Internet and cable television that operate on the territory of 40 Bulgaria cities and 110 towns and villages will merge into one company, called “Bulgarian Telecom and Television” (BTT).
The companies that will be included in the new holding are Networks Bulgaria, Digital Communications, Escom, Icon, Telnet, CTV, Balchik Net, Optinet, Diana Cable TV, Powernet and BOL.bg.
The new holding has announced that it would provide services to more than 150,000 users...
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