Bulgaria's oldest and largest cosmetics producer "Alen Mak" is on sale for about BGN 8-10 M, according to one of its creditors.
The Plovdiv-based Alen Mak ("Scarlet Poppy") factory, in financial trouble for some years, is one of the iconic brands of Bulgaria's communist period.
It was the last state-owned cosmetics factory to be privatized – in 2002 it was sold for USD 5.5 M to the Swiss company Effekten und Finanz.
Daniela Petkova, CEO of Retirement Insurance Fund "Doverie", one of...
In January 2011, the Bulgarian exports to third countries increased by 74.1% compared to January 2010 and amounted to BGN 1.3 B.
The data was released by the National Statistics Institute Monday.
The main trade partners of Bulgaria were Turkey, China, Russia, Serbia, the former Yugoslav Republic of Macedonia and Singapore, forming 56.4% of the total exports to non-EU countries
The exports to South Africa, China, Kazakhstan and Bosnia and Herzegovina increased significantly. Falls were...
A new industrial and logistics zone will be set up in Bulgaria's Black Sea city and port of Burgas by the local municipality administration and the state-owned "National Company Industrial Zones."
The new industrial zone will be called "Logistics and Industrial Park – Burgas" EAD, and will be located on the territory of Industrial Zone "Burgas-North".
Burgas Mayor Dimitar Nikolov has already tabled to the city council the proposal for the setting up of the joint venture with the...
A total of 243 107 passengers have been registered at the Bulgarian Sofia Airport in February 2011, which is a 10 000 increase year on year.
This increase was due both to constant growth in passenger flow on international scheduled routes and a 25% increase to the number of passengers on domestic routes, the airport's official website states.
The number of flight movements at Bulgaria's largest airport in February was 3,467, a 2% increase in comparison to the same period in 2010.
The...
The property tax campaign in Sofia is still on the table and will be carried out despite the issue with incorrectly calculated dues for part of the capital's residents.
The statement was made Monday in an interview for the private TV channel bTV by the Mayor of Sofia, Yordanka Fandakova, saying the new zoning, where the mistakes have been committed, involves only about 20% of the city's residents.
The scandal began when taxes for many of Sofia's residents went up without warning after the...
Japanese corporation Toshiba has declared interest in building two new thermal power facilities in Bulgaria's Maritsa East TPP complex, Economy Minister Traicho Traikov has announced.
Traikov was in the state-owned Maritsa East 2 plant on Monday with Japanese Ambassador to Bulgaria Makoto Ito where the two of them opened the rehabilitated unit 8 of the TPP, whose repairs were completed by Toshiba 32 days ahead of schedule. The life of the unit has been extended by 25 years.
The Economy...
The check for BGN 1 M is being presented to the Kardzhali City Hall Friday for the Thracian rock sanctuary Perperikon, which ranked second in the Bulgaria's Miracles contest.
The initiative belongs to the Bulgarian daily "Standart."
The funds will be used for the restoration of the Perperikon fortress wall and partial restoration of the 15-meter tall medieval tower.
Another site in the Kardzhali Region - the Thracian sanctuary Tatul is also receiving BGN 1 M.
The Thracian city of...
In 2010 the Bulgarian exports to the EU increased by 25% compared to the previous year and amounted to BGN 18.6 B, according to preliminary data by the Bulgarian National Statistics Institute (NSI).
The main trade partners of Bulgaria were Germany, Italy, Romania and Greece that formed 61.6% of the total exports to the EU Member states.
The exports to Romania increased by 42.7% and those to Italy by 38.2%. The most significant growths were observed in the exports to Estonia and Slovenia....
Large tour operators expect a substantial growth of bookings for vacations in Bulgaria by European tourists.
Representatives of TUI, ITS, and Neckermann have met with Bulgaria's Minister of Economy, Energy, and Tourism Traicho Traikov in Berlin, Germany, at the ITB Berlin travel expo, the Economy Ministry announced.
TUI predicts that there will be four times more Russian tourists in Bulgaria in 2011 than there were in 2010, while ITS expects a 28%-30% increase in the number of Germans...
The Black Sea Trade and Development Bank (BSTDB) may provide up to EUR 150 M by 2014 for investments in Bulgaria through its credit lines, according to the Finance Ministry.
Bulgaria's business sector can benefit by getting between EUR 40 M and EUR 50 M in credits from the BSTDB annually in the next three years, the ministry said with respect to a visit of a delegation.
The management of the Black Sea Trade and Development Bank, which is based in Thessaloniki, Greece, is going to present...
Bulgaria's government has signed an economic cooperation memorandum with a second Chinese provice, Jiangsu, after establishing close ties with Zhejiang in 2010.
The document aimed at boosting the trade and investment ties between Bulgaria and one of China's richest and most developed provinces Jiangsu was signed in Sofia on Thursday between Bulgarian Deputy Economy Minister Evgeni Angelov and the Director General of the Jiangsu Department of Commerce Zhu Min.
On June 15, 2010, Bulgarian...
The Italian company "O.M.S. Saleri" is planning to invest EUR 15 M in building a plant for ball valves manufacturing in the Bulgarian northwestern city of Vratsa.
On Thursday, the mayor of Vratsa, Kostadin Shahov, and the owner of the Italian company, Jacopo Rocca, signed the contract for the land on which the new plant will be built.
The field has an area of 25 000 square meters and has been sold to the prospective investor for BGN 500 000, value-added tax (VAT) excluded.
The new...
March 9 is to be declared the Day of Bulgaria's Miracles, it was announced during the award ceremony for the winners of the Bulgaria's Miracles contest.
The initiative belongs to the Bulgarian daily "Standart." The ceremony was held Wednesday evening at the National History Museum under the patronage of Prime Minister, Boyko Borisov. The guests included politicians, intellectuals and journalists.
Each of the 10 awarded miracles received financing in the amount of BGN 1 M while the cabinet...
The market of new cars registered a serious increase in the first two months of 2011, according to data from the Association of Car Importers in Bulgaria.
The data showed that 2822 new cars were sold in Bulgaria in January and February 2011, which is a 14% increase, compared to the same period of 2010.
The best sales record for this period was registered for Volkswagen. The dealers from Porsche Holding, which is the distributor company for Volkswagen in Bulgaria, have sold 363 cars from...
Bulgaria's government has initiated a formal plan to extend the life of the only two operational nuclear reactors in the country located in the Kozloduy NPP.
"There is a plan for extending the life of Unit 5 and Unit 6 in Kozloduy," announced MP Martin Dimitrov from the rightist opposition Blue Coalition, who is the chair of the Parliamentary Committee on energy.
Dimitrov revealed on Tuesday that the plan for the Kozloduy NPP was handed to him by Minister of Economy, Energy, and Tourism...
One of every four Bulgarian employers is planning new job openings in the second quarter of 2011, a poll of the Manpower human capital agency reveals.
The study, which included 746 Bulgarian employers, shows that in the second quarter of the year employment rate will improve in a number of sectors such as industry, finance, public and social services, hotels and restaurants, and retail.
Only 10% of those polled have intentions to reduce the number of their workers with the net indicator...
Bulgaria will be making between 15% and 20% of the total annual production of ski in the world thanks to the investment in a local factory by Finnish company Amer Sports.
On Monday, world ski producer, Finnish company Amer Sports, received a "Class A" investor status from the Bulgarian government for its project to expand the ski factory in Bulgarian mountain resort Chepelare.
Bulgarian Economy Minister Traicho Traikov presented Stefan Leberbauer, a senior executive of Amer Sports, with...
Russian oil company Lukoil wants to build wind and solar energy plants in Bulgaria and Romania, according to company representative Vasily Zoubakine.
The company is interested in both new projects and in acquiring existing ones. The plans for the new energy plants are expected to be ready by the end of 2011 when negotiations with local partners can begin, Zaoubakine told RIA Novosti.
"As Russia did not have a system to support energy alternatives, the Lukoil investments are focused...
More than 310 international companies will present new and original solutions in the sphere of modern construction during the 11th edition of "Bulgaria Building Week".
The event will be open Tuesday at the Inter Expo Center in Sofia and will continue until March 12.
The exhibitions will feature not only Bulgarian, but also companies from 30 countries, including Germany, Italy, Turkey, the UK, Greece, Belgium, China, the USA, Poland, Austria and Portugal.
The event will also include the...
Bulgaria's seasonally adjusted Industrial Production Index increased by 9.3% year on year in January 2010, according to the country's National Statistical Institute.
In January 2011, the working day - adjusted Industrial Production Index rose by 3.2%, as compared to December 2010.
As compared to December 2010, the seasonally adjusted Industrial Production Index in manufacturing in Bulgaria increased by 18.7%, while decreases by 1.5% were registered. in the mining and quarrying industry...
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