A total of BGN 361.1 M have been spent on research and development in Bulgaria 2009, the National Statistical Institute (NSI) reports.
This means a 10.8% increase in Bulgaria's R&D spending in comparison to 2008.
R&D spending, calculated as a percentage of GDP, is one of the key criteria for the EU counties' progress on the Europe 2020 strategy. The long-term target is 3%.
In Bulgaria, money spent for research and development is 0.53% of the GDP, as estimated for 2009. This solidifies...
The Bulgarian telecommunications company Vivacom increased its profits by 43% in the first three quarters of 2010, year-on-year, according to the company's report.
The consolidated profit has grown by 82% and reached BGN 106.7 M. The main reason for the Vivacom's improved profitability is the increased client base, leading to a greater financial income from mobile services, the Bulgarian company's representatives comment.
Within the mobile services the Bulgarian telecommunications company...
Bulgarian and Israeli companies and government representatives looked for ways to intensify trade ties between the two countries at a Bulgarian-Israely Business Forum held Thursday.
Among the opportunities discussed was exporting drinking and irrigation water from Bulgaria to Israel to allay the water shortage in the Middle East country.
Another topic discussed was the massive exploration for natural gas Israel is conducting in the Mediterranean. If its promising prospects are fulfilled,...
A Chinese investor has voiced strong interest and preparedness to take over the insolvent and obsolete steel mill "Kremikovtzi" near the Bulgarian capital Sofia and turn it into a sprawling expo city similar to Shanghai.
The news was reported Friday by the Bulgarian daily "Standard."
The mill's labor unions have confirmed the information saying the Chinese have visited the location several times and would take part in the second auction of the bankrupt steel giant, once considered the...
Bulgaria will have two new railroad stations to connect the cities of Pernik and Plovdiv with the Sofia subway, the CEO of the "Metropolitan" company, Stoyan Bratoev, announced Friday.
Stoyanov reported the news on the heels of statements of the Mayor of Sofia, Yordanka Fandakova, who during the discussion titled "Sofia 2020" said that in addition to the three segments of the capital subway, work would be done in the next ten years on their expansion.
One of the stations will be located...
Lodges in Bulgaria's ski resorts are already filling up for the upcoming winter season, giving hope that the sector will see the first signs of recovery after two bleak years.
Hoteliers estimates show some 110.000 tourists are expected to visit Bulgaria's winter resorts, up by 20.000 compared to the same time last year.
Entrepreneurs pin their hopes on the Russian, Serbian, Macedonian and Bulgarian tourists, who remain their main target group.
Experts also hope that foreign tourists...
Bulgaria has invested about EUR 3-4 per Internet user, the President of IAB Europe, Alain Heureux, said during his presentation at Webit Expo & Conference 2010.
The forum is the biggest event for digital business and marketing in Central-Eastern Europe and is taking place October 27-29 in the National Palace of Culture in Sofia.
Heureaux said that according to a survey by IAB Europe of 15 national markets, until January 2010, the number of Internet users from Central and Easter Europe was...
Bulgaria's Minister of Finance Simeon Djankov presented the draft budget bill for 2011 in front of four parliamentary committees Thursday, calling it "a budget of stability."
The draft was tabled to Parliament October 1 and Thursday it was reviewed by the Committees on Finance, Economic Policy, Social Policy and Healthcare.
Djankov confirmed a 3.6% growth for 2011 and stated redistribution will be 35.5% of GDP.
He said no salaries or pensions will suffer reductions. According to...
China has formally invited Bulgaria to join together with Turkey a project for a high-speed railway connection from the Far East to Europe.
The invitation resulted from talks in Beijing between Bulgarian Transport Minister Alexander Tsvetkov and China's Minister of Transport Li Shenglin, Minister of Railways Liu Zhijun, and leading Chinese railway companies, the press service of the Bulgarian Transport Ministry announced.
The Ministry said the Bulgarian government is going to take part in...
Companies from Abu Dhabi, the USA, and Canada are to come together to form a consortium for investing in Bulgaria's circuit for Formula One and adjacent venues, Novinite.com (Sofia News Agency) learned.
In an exclusive interview for Novinite.com (Sofia News Agency), Bogdan Nikolov, Chairman of the Bulgarian Motorcycling Federation, revealed that the Abu Dhabi company EABG, which first expressed interest in investing in Bulgaria's F1 project in August 2010, will be forming a consortium of...
Most Eastern Europe economies will grow faster than previously expected in 2010 and 2011, benefiting by a stronger rebound in Western Europe and higher commodity prices, according to a new ERBD report.
The more rapid growth means that after a hiatus in 2009, most countries in the region will once again close the gap in incomes per person with western Europe, although according to the report of the European Bank for Reconstruction and Development released Thursday, the "rate of convergence...
An investor from the German free province of Bavaria has stated interest in Bulgaria's project to build a second Nuclear Power Plant (NPP) in the Danube town of Belene, a high-ranking official with the Bavarian Economy Ministry confirms.
The Head of the Southeastern and Central Europe Directorate at the Ministry, Martin Grossman, revealed the information for journalists Wednesday, saying it was true Bulgaria approached Bavaria about the NPP, however, the talks were held without a...
Bulgarian state railways company BDZ will be restructured into a holding company, informed the Transport Ministry.
According to a decision signed by Bulgarian Transport Minister Alexander Tsvetkov on October 22, 2010. the Bulgarian state railway company is going to "give birth" to a holding company, which is going to have two major divisions – one in charge of passengers, and another one in charge of freight transport.
In the new situation, the parent company BDZ is still going to be...
Bulgaria's Transport Minister Alexander Tsvetkov has been welcoming in Beijing by his Chinese counterpart Li Shenglin.
The Bulgarian delegation led by Tsvetkov has presented to the People's Republic of China investment opportunities in the field of transport and infrastructure.
Bulgaria and China are considering setting up a joint venture for sea port infrastructure as well as offering concessions of Bulgarian sea and river ports to Chinese companies.
"China is a first-rate partner of...
Bulgaria's lumber industry has started to overcome the effects of the economic crisis but the furniture manufacturing is still declining, according to participants in the "World of Furniture" expo in Sofia.
Georgi Kostov, Deputy Agriculture Minister and head of the State Forestry Agency, said Bulgaria's state budget revenues from the lumber industry in the state-owned forest plots will amount to BGN 60 M in 2010.
Bulgaria extracts about 4 million cubic meters of lumber per year, and most...
For three days Webit Expo & Conference 2010 will make Bulgaria the hot spot for marketing, advertising and Internet.
The biggest event for digital business and marketing in Central-Eastern Europe will take place October 27-29 in the National Palace of Culture in the Bulgarian capital. It is expected to have 5,000 visitors, exhibitors and 80 top speakers and lecturers from all over the world.
Among the lecturers in this year's edition of the expo will be Vice President at Facebook, Blake...
The mergers and acquisitions (M&A) market in Bulgaria shows the first signs of recovery, driven by the sale of the first national private television bTV and the acquisition of cable operators Megalan Network and Spectrum Net by mobile operator Mobiltel, according to market research company Mergermarket.
The recovery is attributed also to the purchase of 38% in the Bulgarian animal health company Huvepharma by Citi Venture Capital International (CVCI) and the acquisition of Bulgarian coffee...
Rent prices in malls in Bulgaria decreased by 25% for one year, the consultant company Forton International has revealed.
According to the data, the first signs for the recovery of the retail areas market appeared in the third quarter of 2010.
Analysts point out that the total volume of retail areas in Bulgaria is currently 506,860 sq.m. After the completion of three large projects by the end of the year, the volume would increase by 77,000 sq.m. more.
The malls that are to be open are...
Bulgaria's government is planning a total investment of about BGN 1.7 B in infrastructure construction in 2011.
The figure was revealed by Regional Development Minister Rosen Plevneliev on Tuesday, the professional holiday of builders in Bulgaria.
Plevneliev said the BGN 1.7 B in question will come from EU funds and the state budget. Of those, BGN 1.2 B will go into roads and highways, and the rest will be invested in municipal infrastructure projects.
BGN 590 M are expected from the...
Bulgaria's Agriculture Ministry has announced its expectations for at least 10% increase of the wine export in 2010, in comparison to last year.
At a press conference on Tuesday, officials from the ministry stated that they expect a growth in the export despite the forecasts for 30% decrease of grapes harvest.
They also announced that Bulgaria has entered the Brazilian red wine market for the first time. Meanwhile, Chile and Argentina, who are Bulgaria's major competitors at the Russian...
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