The Bulgarian government has accepted a draft memorandum on economic cooperation with east China's Jiangsu province.
Exchanging information on investment policies, opportunities for establishing joint industrial projects and joint ventures, and opening offices and branches will be the key activities Bulgaria and Jiangsu would promote from now on, according to the memorandum.
Jiangsu is one of the most economically vibrant Chinese provinces, home to many of the world's leading exporters of...
A bilateral protocol on economic cooperation was signed between Bulgaria and Serbia on Tuesday.
The document was inked by Bulgaria's Minister of Transport and IT Alexander Tsvetkov and Serbia 's Minister of Trade and Services Slobodan Milosavljevic. The collaboration between partner institutions from the two countries on export growth, the cooperation between small- and medium sized companies and trade chambers, as well as organizing business forums have been pointed out as its key...
Bulgaria's Finance Minister Simeon Djankov plans to dedicate all of his efforts to the passing of Constitution amendment guaranteeing stable state finances, known as the "Financial Stability Pact."
The measures termed "Financial Stability Pact" were first announced by Djankov on February 8 at a lecture at the New Bulgarian University in Sofia following the US tradition in which crucial policy speeches are delivered at academic institutions.
On Tuesday, Djankov and his two deputies...
The Bulgarian Black Sea resort Albena is expecting a 20% increase of German tourists this summer, in comparison to last year.
Yovka Strashilova, Deputy Director in the Sales Department in the resort, said that last year the number of German tourists in Albena were 16% more than the previous year.
She has explained the increased interest with the advertising campaign, organized for the second consecutive year by Albena Jsc in cooperation with tour operators. In her opinion, the lower...
The European Commission is slating funds from the EU operational program Transport in the amount of EUR 250 M for the metro construction in the Bulgarian capital Sofia.
The contract was signed Tuesday between the Deputy Transport Minister, Ivaylo Moskovski and the Head of the municipal company "Metropolitan," Stoyan Bratoev.
The funds will be used for the construction of the so-called stage II which includes a segment of the second subway line – from the Obelya district to the Nadezhda...
A forum dedicated to the importance of green economy for Bulgaria will be organized on Tuesday in the capital Sofia.
International experts, Bulgarian politicians, business representatives, representatives from the Bulgarian Environment Ministry, the World Bank and Innovation Norway will participate in the event. It will be opened by Tove Skarstein, Norwegian Ambassador in Bulgaria.
Topics such as the importance of "green" development and the policies which may accelerate the stable...
The investment will be handled by Elmib Bulgaria, the Bulgarian subsidiary of Hungary's Elmib, announced Elmib CEO Peter Reicher, the Budapest Business Journal reported citing the Vilaggazdasag business daily.
Reicher told the newspaper that the company expects to complete the 15 MW solar park in the Eastern Bulgarian town of Sungurlare within a year and a half.
Once up and running, the electricity produced by the solar park will be fed into the Bulgarian national grid, thus saving 11 400...
The number of overnight stays of Bulgarians in hotels and mountain cabins is down by 0.2% or 2 300 during the last quarter of 2010, compared to the last quarter of 2009.
The data was released Monday by the National Statistics Institute, NSI.
The number of stays of foreigners is, however, up by 22% or 5 100 during the same period. Greeks have the largest share with 21% of all foreign visitors' hotel accommodations. Almost all of the foreign visitors (over 99%) have chosen to stay in...
The two affiliates of Ideal Standard International that operate in the Bulgarian town of Sevlievo were formally merged in one company, officials have announced.
The merger between Ideal Standard Bulgaria and Ideal Standard Vidima was completed on January 31, 2011, company executives announced at a news conference in Sofia. The merger was originally supposed to be finalized a day earlier; the merging did not affect the production operations of the two plants.
Thus, as of February 1, 2011,...
The Saudi Arabian business wants direct flights to Bulgaria to be launched, Dr. Fahad Al-Sultan , Secretary General for the Council of Saudi Chambers of Commerce and Industry, said Monday.
Al-Sultan met with Bugaria's Economy and Energy Minister Traicho Traikov during the International Energy Forum (IEF) gathering in the Saudi capital, Riyadh. Besides the official Bulgarian delegation headed by Traikov, representatives from the Bulgarian Chamber of Commerce and Industry were present at the...
Serbian Prime Minister Mirko Cvetkovic has confirmed his country's continued interest in acquiring a share of Bulgaria's future second nuclear power plant "Belene".
The economic aspects of Cvetkovic's visit in Sofia on Monday were overshadowed by the incident over the weekend in which Serbian authorities obstructed the remembrance of Bulgarian national hero Vasil Levski by the Bulgarian minority in Serbia.
Bulgarian PM Borisov and Cvetkovic, however, did focus their talks on certain...
Texas-based company TransAtlantic Petroleum has closed deals on the acquisition of 100% of Direct Petroleum Bulgaria EOOD, Direct Petroleum Morocco Inc., and Anschutz Morocco Corporation.
The deal with Direct Petroleum Exploration, Inc. was closed on February 18, 2011, TransAtlantic Petroleum said in a statement on Monday.
It issued 8 924 478 of its common shares to Direct Petroleum, and paid USD 2 M in cash consideration at closing in addition to USD 492 000 in cash...
Residential property prices in Bulgaria have stabilized around the level from last year, while the volume of transactions has begun to increase.
According to the Bulgarian National Radio (BNR), the market is driven by buyers who spend between EUR 45 000 and EUR 65 000 for property, real estate agents said.
Russians are the main players on the Bulgarian property market, BNR informed.
Last year, real estate prices dropped by 25-30% and these are the levels around which the market will...
Bulgaria can attract French business partners with its capacities in the production of rose products, wines and cheeses, according to Bulgarian Minister of Agriculture Miroslav Naydenov.
Saturday Naydenov is in Paris to open Bulgaria's first-time booth at the International Agricultural Show (Salon International de l'Agriculture 2011).
Bulgaria's booth includes the country's strongest companies in the fields of meat and dairy production, winery, apiary and cosmetics, in particular rose...
Irish company Ryanair announced that it will open a new twice-weekly service from Milan Bergano to Plovdiv in Bulgaria which will commence on 7 May.
The flights will be serviced on Tuesdays and Saturdays.
The company recently dropped plans for a line from the Bulgarian city of Plovdiv to Barcelona, Spain, which was supposed to be launched on March 27. Tickets for the flights were on sale since December 2010. The flights to Milan Bergano is the alternative destination the company offers to...
Bulgarian Minister on Economy, Energy and Tourism, Traicho Traikov, has stated the expected growth in tourism sector for the 2010/2011 winter season is 5-10%.
"Tourism is one of Bulgaria's economy sectors, which handled the recession the best," Traikov said Thursday at the opening of "Vacation & Spa Expo" in Sofia.
He said that the growth in the tourism sector in the country last year was 5%, while expectations for this year's winter season are for 5-10% increase.
In his words,...
Europa Capital, member of the US real estate company Rockefeller Group, announced it has entered into an agreement to acquire Retail Park Plovdiv, Plovdiv, Bulgaria, from Landmark Property Management.
This investment represents the first asset to be acquired by Europa Capital in Bulgaria. The transaction volume for the investment is EUR 20 M.
Retail Park Plovdiv is a 25,000 sq m retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east...
Cleves, the luxury apartment rentals company, opened on Tuesday Sofia's most expensive rentals project – Cleves Este, a sumptuous 34-apartment building in the Iztok quarter costing over EUR 10 M.
The development was nominated for Bulgaria's "Building of the Year" competition last year. Sofia airport is 10 minutes away by car, and the Interpred Metro station (Joliot Curie) is only 200m away for fast access to Sofia city centre.
EUR 2 M has been spent on the fit-out, furnishing and...
The World Bank will continue to support the development of Bulgaria's infrastructure, its Director for Central Europe and the Baltic countries, Peter Harrold, stated in Sofia Wednesday.
Harrold, who met with Bulgaria's Prime Minister Boyko Borisov, has guaranteed that the International Financial Corporation, the member of the World Bank Group that finances and provides advice for private sector ventures and projects, will continue to support the country's green investments, as well as the...
Bulgaria's year on year January inflation has been 4.5%, according to the National Statistical Institute's preliminary data.
The inflation in Bulgaria has grown with 0.6% in comparison with December 2010, shows the consumer price index, the country's official measure of inflation. The annual average inflation, measured by this index, in the last 12 months (February 2010 - January 2011) compared to the previous 12 months (February 2009 - January 2010) has been 2.8%.
The harmonized index of...
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