Bulgaria and Romania's economy ministers have discussed two large-scale hydro-energy projects on the Danube, whose future realization is said to harbor great economic potential.
Bulgaria's Minister of Economy, Energy, and Tourism Traicho Traikov was received Monday in Bucharest by his counterpart, Romania's Minister of Economy, Commerce, and Business Environment Ion Ariton.
After Traikov and Ariton's meeting, Bulgaria's Economy Ministry has announced that in September 2011, the...
The Sofia City Hall is going to request to become the manager of the Sofia Central Park known as Borisova Gradina.
The news was reported by the Mayor of Sofia, Yordanka Fandakova, who visited Monday another one of the capital's parks – Geo Milev, to check on renovations there.
According to Fandakova, the transfer of the management will allow the City Hall to make more investments in the maintenance of the park, which is currently State property, and additional expenses will be paid for...
The large-scale industrial conversion of conventional cars into electric vehicles is expected to become Bulgaria's new major industry, a special report of Novinite.com (Sofia News Agency) has found.
The development of Bulgaria's electric vehicle industry is expected to experience a boom in 2012, Iliya Levkov, Chair of Bulgaria's Electric Vehicles Industrial Cluster (EVIC), has told Novinite.com (Sofia News Agency) in an exclusive interview.
EVIC, a 100% Bulgarian NGO designed to spur...
Bulgarian left-wing MP Rumen Petkov has rejected allegations that Lukoil participates in smuggling schemes.
In a Sunday interview for the Bulgarian National Radio (BNR), the socialist MP and former Interior Minister in the Socialist-led three-way coalition government in 2005-2008, opposed claims of Customs Agency head Vanyo Tanov that inspectors would set foot in Lukoil for the first time, adding that Tanov had "a habit of lying".
Petkov said accusations that Lukoil was the main source of...
Fuel prices in Bulgaria has reached new highs after Lukoil Bulgaria announced new minor increases.
The wholesale price of the most widely use gas fuel A95 has reached BGN 2.52 per liter, up by BGN 0.04, while the diesel has hit BGN 2.51, after an increase of BGN 0.01 per liter.
While the latest increase announced Saturday is not substantial, since the beginning of July, Lukoil, which is the major refinery in Bulgaria, has hike prices by 0.15 per liter for gas, and 0.12 per liter for...
Luxembourg-based international logistics service provider Logwin has started a Bulgarian subsidiary with high hopes for the Bulgarian economy, according to a company statement.
Logwin formally set up its own national organization in Bulgaria on June 20, when it opened its first location in the country's capital Sofia in the logistics center at Sofia Airport Center, starting national and international transportation from Sofia, warehousing, value-added services as well as air and sea...
Some 400 000 British tourists will have visited Bulgaria by the end of 2011, Catherine Barber, current Charge d 'Affairs of Great Britain in the Balkan country' has stated.
Bulgaria is not considered a cheap destination among Brits, Barber has assured, denying statements that her compatriots are mainly attracted to the country by its cheap food and alcohol.
She said many Brits are interested in Bulgaria's cultural legacy, adding that environmental tourism in Bulgaria is gaining momentum....
A Spanish company presented in the capital Sofia several large-scale projects for new sports facilities.
The projects are for a new national stadium and two others – one also in Sofia and and one in the second largest city of Plovdiv.
The company has been invited to prepare the design by Bulgarian football legend and now Consul in Spain, Hristo Stoichkov, who was present at the event. Prime Minister, Boyko Borisov, Sofia's Chief Architect, Petar Dikov, Regional Minister, Rosen...
Nola 7, Bulgaria's leading spa company signed a strategic cooperation agreement with its Chinese partner Beijing LSJH, receiving green light to make a major step into the Asian country's market.
Thus, Nola 7 will become the first Bulgarian company whose spa and wellness facilities have reached China.
"We earned the trust of our partners from Beijing LSJH with our successful projects in more than eight countries in Europe, Asia and Africa," Ivan Tanev, Nola 7's CEO, said during the...
The properties on sale in Bulgarian winter and ski resorts are continuing to go down, according to an analysis of Bulgarian Properties, a real estate agency.
The demand for fully furnished apartments in Bulgaria's three largest winter resorts – Bansko, Borovetz, and Pamporovo – remained low in the second quarter of 2011.
According to the agency, in Bansko, the largest Bulgarian winter resort, the average apartment sale price is EUR 27 000, with an average price of EUR 460 per square...
The newly-appointed CEO of state-owned Bulgartransgaz company, a subsidiary of Bulgargaz, Kiril Temelkov will also be in charge of the Bulgarian firm for the realization of the Nabucco gas transit pipeline.
Temelkov is going to serve temporarily as the head of Bulgaria's "National Nabucco Company" until a suitable person is found to fill the position within the upcoming weeks, Nabucco Gas Pipeline International GmbH, the Nabucco consortium, announced Friday.
"The Nabucco project is met...
Five banks will offer loans on preferential terms to Bulgaria's business sector under the JEREMIE initiative.
On July 14, Bulgarian Minister of Economy, Energy and Tourism Traicho Traikov signed guarantee agreements with EIBank, ProCredit Bank, Raiffeisenbank, United Bulgarian Bank and UniCredit Bulbank under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative, allowing them to provide up to EUR 80 M in EU structural funds to Bulgarian small and medium-size...
Cultural and spa activities are considered the most attractive forms of tourism among the foreign tourists in Bulgaria, according to a poll conducted by Synesta Consortium.
In contrast, Bulgarians most frequently visit relatives or travel to the country during their summer breaks, the poll shows.
Foreigners spend between EUR 70 and EUR 90 per day on average in Bulgaria's resorts and usually stay 9-10 days, while locals spend just EUR 19-EUR 25 daily and stay 5-6 days.
Many foreigners...
Bulgaria's Customs Agency is starting an all-out inspection campaign on fuel excise facilities after it has detected violations at the Lukoil Neftohim refinery in Burgas.
The move, which also features inspections on gasoline trucks by mobile groups, is supposed to crack down on a black market of fuel. The campaign will last 3 months, Customs Agency head Vanyo Tanov told BNT.
Customs inspectors have found that Lukoil Neftohim, Bulgaria's major oil refinery, which is also the largest in the...
The Bulgarian government has approved a contribution to the Bulgarian state company for the construction of the vastly troubled Burgas-Alexandroupolis oil pipeline, which is at the bare minimum for keeping the project alive.
With its decision Wednesday, the Borisov Cabinet has agreed to increase the capital of the state-owned Project Company "Burgas-Alexandroupolis Oil Pipeline" BG EAD by issuing bonds worth BGN 150 000 that will be acquired by the Finance Ministry.
The sum is the minimum...
P2 Solar, Inc., based in Surrey, British Columbia, Canada, has announced it has executed an option agreement to develop a 7.3 MW solar power farm in Bulgaria.
The "shovel-ready" project with a 20 year gross revenue of USD 76.5 M is located in southwestern Bulgaria near the Greek border and has land secured, all required permits are in place and a 20 year government power purchase agreement (PPA), is signed, according to P2 Solar.
The company has recently appointed a Bulgarian consultant...
Henk Markerink, CEO of famous Dutch stadium Amsterdam ArenA, will launch the construction of a new national stadium in the Bulgarian capital Sofia together with his team of experts, it was announced Wednesday.
Merkerink met with Bulgarian Sports Minister Svilen Neykov, legendary striker from the 90s Hristo Stoichkov, Dutch Ambassador to Bulgaria Karel van Kesteren, as well as the Balkan country's former Foreign Minister (2001-2005), Solomon Passy.
The new stadium will be raised either in...
Compared to 2010, which was characterized with a record supply of new shopping centers, no significant retail schemes have been completed since the beginning of 2011, according to the Q2 report of Forton International.
The current shopping center stock stands at almost 560 000 sqm GLA.
Pipeline supply remains challenging with over 237 000 sqm of retail space under construction.
If all of the projects are completed successfully,the total shopping center stock in the country will...
Data shows Bulgaria's real estate sector is experiencing a limited recovery, according to the "Bulgaria Real Estate Report Q3 2011" of Business Monitor International (BMI).
"Bulgaria's real estate sector has experienced a startling downward trend in recent years as the value of property has plummeted led by a dearth of demand. Early data from the first two months of 2011, however, suggest that a limited return is on the way," the report says.
It cites data that an average of 1 550...
The consumer price index (CPI) in Bulgaria in June 2011 compared to May 2011 was 99.1%, meaning the monthly inflation was -0.9%.
The data was reported Tuesday by the National Statistical Institute (NSI).
The annual average inflation, measured by CPI, in the last 12 months (July 2010 - June 2011) compared to the previous 12 months (July 2009 - June 2010) was 4.3%.
In June 2011, compared to the previous month, prices of goods and services in the main consumer groups have been changed as...
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