Bulgaria's construction sector registered a 2,6% growth in November 2010, compared to the same month in 2009, according to preliminary seasonally adjusted data from the National Statistics Institute (NSI).
The monthly working day adjusted data for November 2010 showed an increase of 0,8% of the construction production, year-on-year.
The growth of building construction production was 1,1%, while the growth of civil/engineering construction is 2%, according to the seasonally adjusted...
Bulgaria's Czech-owned power utility CEZ has established a new subsidiary called CEZ Bulgaria Investments.
The new company from the CEZ portfolio is going to focus specially on investments in renewable energy sources, the company announced on Friday.
CEZ Bulgaria Investments was founded on January 3, 2011; a day later it was registered in the trade register in the Netherlands with a capital of EUR 30 000. It is 100% owned by CEZ A.S.
CEZ, which is the electricity distribution company...
Bulgaria's Commission for Competition Protection has approved the merger of the pharmaceutical manufacturer "Unipharm" with the largest "Sopharma," the Commission announced Thursday.
The merger will happen long-term; currently there are no changes at the two companies.
By the end of the third quarter of 2010, "Sopharma," had a nearly 50% stake at "Unipharm," compared to just below 6% at the beginning of 2009.
The "Sopharma" Director of Relations with Investors explains, until recently,...
The Toronto-based mining company Dundee Precious Metals has announced that the Bulgarian government has given a green light to its project for gold mining in the town of Krumovgrad located in the very south of Bulgaria.
In a statement, Dundee said that the permitting process for its Krumovgrad gold project in Bulgaria has taken "another step forward."
Following the submission of the Company's new Environmental Impact Assessment Report ("EIA") and Natura 2000 Compatibility Assessment...
Raiffesen Bank Bulgaria has dropped its expectations for the county's economic growth in 2011 from 3% to 2.7%.
The bank's monthly analysis states that the external economic environment is favorable for the development of Bulgaria's economy, but that the recovery from the financial crisis will hardly be felt in the internal market.
In 2010's third quarter, the country saw a 1% economic growth year on year, in comparison to 0.5% in the previous quarter. The main reasons for that was the...
Bulgaria's Food Safety Agency will start operating on February 1 2011, the Bulgarian Agriculture Minister Miroslav Naydenov has announced.
This means a one month delay, as the agency was originally scheduled to begin operating on January 1, 2011. As Naydenov explained on Tuesday, the Bulgarian MPs have been too busy passing the Election Code amendments, which has led to a delay in the new legislation on foods, necessary in order for the agency to be launched.
"The new law will be ready...
The sales of second-hand cars in Bulgaria grew by 30%-50% in 2010, year-on-year, estimates have shown.
According to Lyubomir Dorosiev, deputy head of the Association of Car Importers, as cited by money.bg, the Bulgarian market for second-hand cars had a growth that is impressive against the backdrop of the economic crisis and the reduced domestic consumption.
Dorosiev pointed out there is a increasing trend of people in Bulgaria preferring second-hand to new cars.
Data of the...
Romanian companies that registered in Bulgaria have been attracted by the latter's business climate, according to Valentin Radomirski, Bulgarian Ambassador to Romania.
"Predictability, business-friendly environment, low tax rates are elements that attract companies. For the last two months only, three credit agencies consistently affirmed the positive credit rating of Bulgaria and this is a strong message to business - both foreign and Bulgarian. Romanian companies are among many others...
There is a significant improvement in the overall business sentiment among office occupiers in Bulgaria, a survey by realtor Colliers International shows.
According to a survey recently conducted among more than 5,000 recipients of Colliers International's Office Newsletter, 53% of respondents believe the general outlook for the business in 2011 is positive compared to 2010, while only 21% were optimistic six months ago.
The research shows that the share of companies with a negative...
Bulgaria's only operational nuclear power plant at Kozloduy has surpassed its planned 2010 electricity output.
In 2010, the Kozloduy NPP produced a total of 15 248 605 MW/h of electricity, the company management announced on Monday, January 3, 2011.
The nuclear plant reached the projected 2010 amount of produced electricity on December 26, 2010, and in the last five days of the year, it managed to produce a total of 253 465 MW/h of electricity more than its management originally...
The index of wholesale prices in Bulgaria went up from 1.784 to 1.825 points in the last week of 2010, which is the highest level since the beginning of the year.
The data comes from the State Commission for Commodity Exchanges and Market Places.
For comparison, in the end of 2009, the index of wholesale prices was 1,704 points.
There was an increase of 7 points in the index in the end of December 2010, in comparison to the same period the previous year. The highest price hikes at the...
Bulgaria's Transport and IT Minister Alexander Tsvetkov has met with his Brazilian counterpart Paulo Sergio Passos on Saturday.
The two countries are expected to sign an Agreement on collaboration in the IT sector.
Mutual collaboration opportunities in the sphere of railway transport have also been discussed.
On Thursday, when a Bulgarian delegation visited Brazil's President-elect Dilma Rousseff, some off the topics discussed partnerships in the construction of Brazil's railways,...
Serbia is in favor of participating in the construction of the Belene Nuclear Power Plant in Bulgaria, the country's Deputy Prime Minister Bozidar Djelic has told the Bulgarian National Radio.
He has pointed out that the increased number of high-level meetings between Bulgarian and Serbian officials is a solid proof that the two countries are important partners with common interests with regard to nuclear energy, the South Stream gas pipeline and the Danube Strategy.
"If a contract is to...
Russia's state power trader Inter RAO is in talks with E.ON AG, RWE AG and Enel SpA on possible asset swaps or acquisitions in Europe as the company seeks to expand abroad, a company official said.
"Inter RAO is close to a agreement to buy for cash the Maritsa power plant in Bulgaria from Enel, Italy's largest utility, and may announce the outcome at the end of January," Ilnar Mirsiyapov, head of the company's strategy and investment department and management board member, said at a briefing...
About 60% of the construction of the so called Danube Bridge 2, the second one to connect Bulgaria and Romania over the Danube River, have been completed.
Additionally, some 50% of the auxiliary infrastucture facilities, including a 600 meter long road junction near the Northern Bulgarian town of Vidin, has already been built. A total of 8 highway and railroad overpasses have also been completed.
The construction work will continue anew on January 11 2011.
The crude completion of the...
Bulgaria has been listed among the top nine global tourist destinations for 2011 in a CNN article.
Building upon recommendations from three travel experts, Robert Reid, US travel editor for Lonely Planet; Pauline Frommer, creator of Pauline Frommer's guidebooks; and Martin Rapp, senior vice president of leisure sales at Altour, the CNN article places Bulgaria ninth in a list also featuring New York City, New Zealand, the Peruvian Amazon, Barcelona, Norway, Albania, Japan, and...
Bulgaria's special Agriculture Fund has affirmed 311 EU Rural Development projects, which will cost a total of BGN 136.6 M.
A total of 263 projects are for the modernization of agricultural farms, the planned sum for this activity is BGN 73.5 M. A total of BGN 24.8 M is planned to be spent on 21 projects under the development of value-added agricultural enterprises measure.
BGN 35 M is the sum intended for 16 municipality projects for the development and modernization of rural...
A wide range of little souvenirs are to be launched by Bulgaria's government in order to increase the foreign interest in the country as a touristic destination.
The total price of the project is estimated at BGN 1.4 M.
Some 5000 t-shirts worth a total of BGN 75 000, 3000 beach towels for BGN 45 000, 500 special thermo cups decorated with scenes from the country's image video for BGN 7 500 -these are some of the items the Bulgarian Ministry of Economy Energy and Tourism plans to launch in...
An innovation created by a Bulgarian scientist is said to be able to make natural gas use more efficient and cut down the expenses for central heating.
The invention, which is a steam and gas turbine installation, can produce the same amount of heating and electric energy with about 30 percent less natural gas. The installation costs BGN 56 M, but its efficiency may save a big heating utility, like the one in the capital Sofia, up to BGN 500 M in the long run, Prof. Nikolay Kolev, the...
A consortium of two Bulgarian companies and one Italian firm has won the Transport Ministry tender for modernization of the Plovdiv-Burgas railway in Southern Bulgaria.
The consortium of Trace and SK-13 and GCF, a company from Italy, provided the lowest price of all bidders – BGN 380 M.
"We are thus saving BGN 110 M from the rehabilitation of the railway since this is the difference with the lowest prices offered during the two tenders," explained Bulgaria's Transport Minister Alexander...
Bulgaria Translation