The average price of residential properties in Bulgaria is down by over 33% compared to the market peak in 2008, data of the National Statistics Institute (NSI) and the Registry Agency shows.
The number of real estate transactions in 2010 compared to 2007 is down two times; building permits and new buildings are down as well, while the number of default loans is up.
The average price per square meter in 2010 has been BNG 964 with properties being the most expensive in Sofia (BGN 1596) and...
Japan's Toshiba Corporation has offered Bulgaria a large-scale project in the field of renewable energy, "smart electricity grids" and electric cars.
As part of a visit of a large Bulgarian government and business delegation in Japan led by PM Borisov, Bulgarian Minister of Economy, Energy, and Tourism Traicho Traikov met with Norio Sasaki, President and CEO of Toshiba Corporation.
The Toshiba management has confirmed that the company will construct a 10 MW photovoltaic park near...
Emerging markets private equity investor CVCI, a subsidiary of the alternative asset management division of investment bank Citigroup, has acquired a 37% stake in Huvepharma, the Bulgarian animal health company announced.
The price of the deal is EUR 75 M.
The purchase was wrapped up on November 30 after it got a seal of approval by the European Commission.
The deal involves a primary issuance as well as a stake purchase from controlling shareholders, including Advance Properties, a...
BNK Petroleum has became the third US company with interest in extracting Bulgaria's shale gas, according to the Bulgarian Prime Minister Boyko Borisov.
Borisov announdced that after he met the former NATO Secretary General Wesley Clark, who is currently on the BNK Petroleum's bord of directors. Bulgaria's Minister of Energy, Economy and Tourism Traicho Traikov also participated in the meeting.
BNK Petroleum is based in California and operates mostly in Oklahoma. In Europe, the company...
Bulgaria, which has the lowest personal and corporate income tax in the EU at 10%, may change the levels of direct taxes after a referendum in 2013, a bill of the finance ministry suggests.
"Should the bill be adopted, the citizens will be given the power to define the government's tax policy as of 2013," Finance Minister Simeon Djankov told journalists in parliament, adding this would be a big step forward.
"This is a measure, which will show that Bulgaria is not only the country with...
The delegation of the Bulgarian Chamber of Commerce and Industry (BCCI) accompanying Bulgarian PM Borisov on a Japan visit will emphasize the stability and deepening of bilateral investment and business relations.
Bulgarian Prime Minister Boyko Borisov set out Friday together with a government and business delegation on a four-day working visit to Japan (January 21-26, 2011).
In a statement dedicated to the Bulgarian business delegation to Japan, the BCCI states Japan is increasingly...
The US-based pizza maker and distributor, Domino's Pizza, which entered Bulgaria at the beginning of January, plans to open another two restaurants by the end of the year.
The master franchisee for Bulgaria is Anatron Food Services, who also serves as the master franchisee for Domino's Pizza in Greece and Cyprus.
However, the stores in Bulgaria will be operated by LN Solutions, owned by Lazgin Majid and Nikola Nikolov. The two partners have experience with other fast food franchises, as...
French oil services company Technip has been awarded a lump sum services contract for the phase 1 of a heavy residue hydrocracking complex to be built at their refinery located in the Bulgarian city of Burgas.
The contract is worth approximately EUR 70 M and has been awarded by Burgasnefteproekt EOOD (a Lukoil engineering subsidiary).
The contract covers the detailed engineering and procurement services for a 2.5 million tons/year residue hydrocracker based on Axens H-Oil process, as well...
German companies are interested in purchasing Bulgarian agricultural products, said Svetoslav Simeonov, CEO of the Bulgarian Agriculture Fund.
On Friday, Simeonov participated in a Bulgarian-German business meeting during the international public exhibition for food, agriculture and gardening industry, Greek Week, in Berlin.
The Vice-president of the German retailer "Metro", Michael Widmann, said that he wants Bulgaria to deliver agricultural products, mainly fruits and vegetables, for...
Toshiba and Tokyo Electric Power will set up a local joint venture with the Japanese government to build one of the world's largest solar power stations in Bulgaria, according to a report.
The plant will be located near the Bulgarian city of Yambol and will cost more than 100 billion yen (USD1.2 B), Japan's Nikkei business daily said.
According to the report the plant is expected to be built by March 2012 with an output capacity of roughly 50,000 kilowatts, which will be gradually...
The municipality of Bulgarian capital Sofia has reached an agreement for a EUR 25 M loan from the EBRD to boost public transportation.
This news was broken by Sofia mayor Yordanka Fandakova at Thursday's presentation of the 2010 municipal budget.
The loan will be extended in two installments at EUR 12.5 each. The first amount will be used for the payment of arrears to transport operators. The second will go for the finalization of the electronic system for charging public transport...
The combined profit of the Bulgarian state-owned companies increased by BGN 300 M in 2010 year-on-year, announced Minister of Economy, Energy, and Tourism Traicho Traikov.
Traikov spoke in Parliament Thursday during the debate for the confidence vote of the Borisov Cabinet.
He pointed out to the MPs that the government has made important modifications in the Investment Encouragement Act to lure foreign investors.
"The number of projects for boosting the exports of Bulgarian companies...
Almost 9 million tourists were registered in Bulgaria in 2010, according to data of the National Tourism Board, an association of the tourism industry, which had a conference in Sofia Wednesday.
The National Tourism Board conference was attended by Finance Minister Simeon Djankov, who promised government support for key tourist infrastructure projects.
The tourism industry data presented at the conference says that Bulgaria saw a 5% increase in bed occupancy in 2010 year on year, with the...
Bulgaria is in no rush to join the euro zone, according to Kalin Hristov, Deputy Governor of the Bulgarian National Bank.
In an interview for Dow Jones Newswires cited by Bloomberg, Hristov has toned down Bulgaria's enthusiasm for adopting the common European currency even though this goal has been constantly reaffirmed as a priority by the Borisov Cabinet and especially by Finance Minister and Deputy PM Simeon Djankov.
"We're not rushing... there's no point running into a burning...
Bulgaria's Finance Minister Simeon Djankov has urged anew an emphasis on cultural and historical tourism, and a program to boost the Bulgarian pilgrimage sites.
Djankov took part Wednesday in a conference of the National Tourism Board, during which he encouraged the tourism sector to attract wealthier foreign tourists by focusing on cultural and historical sites, golf, and mountain tourism. He also said Bulgaria should not put efforts into developing its historical attractions from the...
The occupation of industrial zones in the Bulgarian capital increased by 40% in 2010, according to an analysis by the consultant company Forton International.
The data from the analysis shows that the modern industrial zones in the region of Sofia increased by 27%, in comparison to the end of 2009, and are currently more than 538,000 square meters.
The beginning of 2010 set the start of a smooth decrease in the level of occupancy of industrial zones in Sofia. In the third quarter of the...
Bulgaria will take part in the International Holiday Exhibition CMT in Stuttgart, Germany and will present itself as a diverse holiday destination, the Bulgarian Economy Ministry has announced.
This year's edition of the exhibition, which will be held Tuesday, will focus on traditional tourism and traveling by caravans and motorcycles.
Bulgaria will participate with a 36 square meter stand, which will present the Municipality of the Bulgarian Black Sea city of Varna and the resort Albena....
Bulgaria is expected to resume its electricity exports to Turkey at the end of March 2010, according to the head of the Bulgarian National Electric Company NEK, Krasimir Parvanov.
"I am all up for restarting the electricity trade with our southern neighbor because it is no secret that the prices there are better than the market prices in the region," Parvanov said during a forum at the Parliament organized by the Sofia-based Center for the Study of Democracy entitled "Energy and Better...
Sofia has topped the chart for cheapest European destinations, which includes 40 cities, according to the travel website priceoftravel.com.
Deutsche Welle has reported that the rating for 2011 was made on the basis of the prices for cheap/good hotel, transportation, meals, drinks/entertainment and attractions.
"Europe's cheapest tourist city [Sofia] is becoming more popular each year, partly due to the low prices for almost everything, but its remote location will still be a problem for...
SES Astra, a Direct-to-Home (DTH) satellite system in Europe, is expanding into central and eastern Europe, and plans to enter into a new growth market, Bulgaria, in days, the company announced.
The Bulgarian Direct-to-Home (DTH) operator Satellite BG will use three transponders at SES Astra's 23.5 degrees East orbital position for broadcasting its channel portfolio to TV homes across Bulgaria.
Satellite BG will launch its channel bouquet on 1 February 2011. The offer will consist of more...
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