A total of 18 Bulgarian companies are ranked among the biggest 500 in Central and Eastern Europe, according to Coface's annual ranking.
The most highly ranked Bulgarian entry, the Bulgarian refinery of Russian oil company Lukoil Neftochim has come in 35th on the list of the 500 largest companies in the region. Lukoil Bulgaria, which trades in the refinery output, is ranked 55th.
The state owned Bulgarian National Electricity Company (NEK) is ranked 67th. Manufacturing company Aurubis is...
Turnover in Bulgaria is up BGN 1 B in August 2010, compared to the same month in 2009, data of the National Revenue Agency (NRA) shows.
The data comes from the August declarations of businesses registered under the Value Added Tax (VAT), which had a September 14 deadline for submission with NRA.
Data further shows the August 2010 price of companies' products without VAT (tax base) has been BGN 1.4 B compared to BGN 13.3 B a year ago.
NRA say the improved results stem from their regular...
Bulgaria offers the best prices for vacations in the EU this summer, according to Blagoy Ragin, head of the Bulgarian Association of Restaurant and Hotel Owners.
The Bulgarian tourist business expects at least 10% more foreign tourists in 2011 compared with 2010, Ragin told the Cross news agency.
The head of the Restaurant and Hotel Owners' Association stressed that Bulgaria's tourist sector is looking forward to the completion of the Trakiya Highway (expected in 2012) – connecting...
Bulgaria's Cabinet has authorized Finance Minister Simeon Djankov to terminate the existing contract with the Japan Credit Rating Agency (JCRA).
JCRA has been one of the four international credit rating agencies that Bulgaria's government has had contracts with; at present, Bulgaria has contracts for credit rating services only with Moody's and Standard & Poor's, after in 2010 Djankov moved to terminate the contract with Fitch.
The credit rating service agreement between Bulgaria and JCRA...
Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137).
According to the country's Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector's expenses will be much higher, the Dnevnik daily points out.
Some 120 000 Bulgarians officially receive minimum wage in Bulgaria, according to the country's National Statistical Institute. A total of 20 000 of them are on a...
A Bulgarian hotel, the Grand Hotel & SPA Primoretz Burgas, has been placed among the world's 28 best spa hotels by a Germany-based not-for-profit international association.
The European Audit Institute Wellness & SPA e.V., located in Bad Wildingen, Germany, has issued its "Wellness & Spa Europe Certificate" to the Primoretz Hotel.
A total of 28 hotels worldwide, of which 10 in Europe, are holders of the Certificate.
The Burgas spa hotel has managed to acquire a "Premium" quality...
Bulgaria's Commission for Communications Regulation (KRS) mandated Monday the three mobile operators to reduce their wholesale prices for incoming international cell phone calls.
Beginning April 1, 2011, the price will be BGN 0.13 a minute i.e. at the level of the national roaming calls.
The changes relate to the price international telecoms must pay to M-Tel, Globul and Vivacom for calls in their networks and would not be felt by the consumers.
The KRS economic analysis has shown the...
The Bulgarian and Greek ministers in charge of energy are meeting in Thessaloniki Wednesday in order to coordinate the project for connecting the natural gas pipeline networks of the two countries.
The Bulgarian Minister of Economy, Energy, and Tourism Traicho Traikov together with his deputy in charge of energy Mariy Kosev are meeting with Greece's Minister for the Environment, Energy and Climate Change Tina Birbili, the press service of the Economy Ministry announced.
The major goal of...
Bulgaria's industrial export is the key factor for the recovery of the economy but its structure is nonetheless a matter of concern, according to a report of the Sofia-based Center for Economic Development.
Experts from the CED presented Thursday in Sofia their quarterly report for the condition of the Bulgarian economy.
They say that Bulgaria's economy grew by 1% in the third quarter of 2010 year-on-year, and will register a near zero-growth in 2010 altogether. The economy started...
Russia's state power trader Inter RAO wants to acquire not only the majority stake of Italian energy giant Enel in Maritsa East 3, a Bulgarian coal-fired plant, but also its wind parks near the Black Sea coast, according to reports.
"We will offer in exchange the Russian government's stake in Russian power producer OGK-5, controlled by Italy's Enel," Boris Kovalchuk, Chairman of Management Board at Inter RAO UES, said, as cited by Moscow-based Komersant newspaper.
Italian energy major...
Three top global Dutch-based companies – TNT, Shell, and Philips – have presented their green initiatives in Sofia in order to promote environmental protection in Bulgaria.
The event was dedicated to the world Sustainability Day and was part of the Week of the Netherlands 2010 organized under the patronage of the Embassy of the Kingdom of the Netherlands in Bulgaria.
The visitors of the joint event of TNT, Shell and Philips at the Hilton Hotel in Sofia had the opportunities to learn...
Bulgarian PM Boyko Borisov said that Bulgaria is eager to start building its new Belene NPP during talks with US energy envoy for Eurasia Richard Morningstar.
The two met on Borisov's official trip to the USA to participate in the Millenium Goals discussion at the UN and discussed Bulgaria's participation in strategic energy projects.
Morningstar expressed satisfaction at the level of strategic cooperation and friendly partnership between the USA and Bulgaria.
The two discussed matters...
Economic freedom in Bulgaria ranks 15th among the 27 members of the EU and 36th in the world for 2008, show the results of a Fraser Institute study released Monday.
The Economic Freedom of the World 2010 Annual Report summarizes results for 2008 that show global economic freedom marginally decreasing at the onset of the crisis (from 6,74 out of 10 for 2007 to 6,67 for 2008).
Bulgaria's result is 7.31 for 2008 and has been marking a steady increase since 1990.
The top three EU countries...
A cross-border project to improve and popularize tourist opportunities in north-east Bulgaria / south-east Romania is starting, reported local authorities at General Toshevo.
The project is worth EUR 1.5 M and is joint between General Toshevo in Bulgaria and Negru Voda in Romania. Both towns are in comparatively remote areas of the neighboring countries in the historic Dobrudzha region.
The project aims at developing a joint tourist potential for the two municipalities in improving...
Bulgaria's construction sector will have about BGN 5 B (EUR 2,5 M) from the state on public procurement projects during 2011, according to Minister of Regional Development Rosen Plevneliev.
This is the combined amount of funds from the Ministries of Transport, of Environment, of Regional Development, as well as from local authorities and EU operative programmes, stated Plevneliev at the opening of the new acaemic year in the University of Architecture in Sofia.
Plevneliev once again...
One of the world's largest manufacturers of construction and mining equipment, engines and turbines, the US company Caterpillar, is going to open a trading office in Bulgaria.
This has been agreed during a meeting between Bulgarian Economy Minister Traicho Traikov and two of the Vice Presidents of Caterpillar, Tana Utley and Gregory Folly.
Traikov, who is on a several-day visit to Canada and the United States, has had a busy schedule.
His meeting with the Caterpillar managers focused...
Bulgaria's Economy Minister, Traicho Traikov, has had important meetings in the USA including with Boeing, Motorola, and the Federal Reserve Bank of Chicago Bank among others.
During talks with Boeing's top management, Traikov, who is on a several-day visit to the United States, invited the company to research opportunities for outsourcing in Bulgaria, and for taking part in the privatization of VMZ Sopot, a currently ailing military manufacturing plant which used to be one of Bulgaria's...
Defense Minister Anyu Angelov has expressed strong support for his colleague, Economy Minister Traikov, who invited US companies to consider investments in Bulgarian military plants.
Earlier on Sunday, it was announced that Traikov, who is in the US, had invited Boeing to study the opportunities for the privatization of the ailing Bulgarian military industrial giant VMZ Sopot. He also invited Motorola to establish a partnership with the Bulgarian government in the field of...
The vacancy rate of office space in Sofia is expected to rise up to 26-27% by the end of the year with the opening of new buildings, real estate consultancy Regent's Property Advisors forecasts.
Adding a significant amount of new offices to the market, the vacancy rate during the first half of the year reached levels of 22% of total stock, equaling to 253,000 sqm, data of the company shows.
The largest share of the empty offices still remains in the suburban areas of the city, but the...
Nine commercial banks will participate in a scheme for refinancing of credits for the purchase of agricultural machinery, which will begin operating from September 20, the Bulgarian Agriculture Fund announced.
The Agriculture Fund has signed contracts with DSK Bank, United Bulgarian Bank, First Investment Bank, Raiffeisen Bank, MKB Unionbank, Tokuda Bank, UniCredit Bulbank, Central Cooperative Bank and Teximbank.
The fund has envisioned BGN 40 M for farmers who have applied for free...
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