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Economists: Many Obstacles to Bulgaria’s Slow Recovery
The Bulgarian economy will brace for minimal growth the following quarters but is nowhere near equaling its levels before the crisis, say researchers from the Institute of Economics at the Bulgarian Academy of Sciences.
Former Bulgarian National Bank board member and present researcher in the Academy of Sciences Garabed Minassian lists as hurdles for growth low liquidity of the bank system, the outflow of capital and low levels of foreign investment, failure to absorb EU funds, and state budget...
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Date: 2010-08-19 12:01:24 | Source: Novinite.com
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Economists: Many Obstacles to Bulgaria's Slow Recovery
The Bulgarian economy will brace for minimal growth the following quarters but is nowhere near equaling its levels before the crisis, say researchers from the Institute of Economics at the Bulgarian Academy of Sciences.
Former Bulgarian National Bank board member and present researcher in the Academy of Sciences Garabed Minassian lists as hurdles for growth low liquidity of the bank system, the outflow of capital and low levels of foreign investment, failure to absorb EU funds, and state budget...
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Date: 2010-08-19 12:01:24 | Source: Novinite.com
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Bulgarian Power Utility CEZ Vows No Blackouts in Winter Resorts
The Czech-owned power utility CEZ has announced that there will be no power outages at the Bulgarian winter resorts in the territory served by the company.
"Even though at present the Borovetz resort is on the verge of its electric equipment, there are no dangers of potential breakdown because there have not been new constructions at the resort for more than a year," said Rosen Yordanov, the head of "Operation and maintenance of network" department of CEZ.
He added that the Bulgarian towns of ...
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Date: 2010-08-19 11:39:39 | Source: Novinite.com
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Bulgarian Court Keeps Adventure Jet Stealers under Arrest
The court in the Bulgarian Danube town of Kozloduy decreed that the three persons accused of stealing the water jets of international adventurers last week be kept under arrest.
The three detainees, in their twenties, all have previous criminal record.
Last Friday the jet ski watercraft of three men on a charity trip from the UK to New Zealand were stolen in the Bulgarian Danube port of Kozlody.
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Date: 2010-08-19 11:02:29 | Source: Novinite.com
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Bulgaria’s M-Tel Down on Profit, Up on Subscribers Q2
Bulgaria's largest mobile operator M-Tel has registered a 21% drop in profit and a 11% increase in number of clients for Q2 2010.
M-Tel's revenue for Q2 2009 was EUR 42.8 M, while that for the same period this year is EUR 33....
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Date: 2010-08-19 10:39:07 | Source: Novinite.com
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Rosatom: Ball on Belene NPP Is in Bulgaria's Court
Russia has provided the Bulgarian side with all data and documentation for the go-ahead of the project to build a second Nuclear Power Plant (NPP) in the Danube town of Belene, the Russian news agency Interfax reports Thursday.
Interfax cites the CEO of the Russian State-owned Nuclear Energy Corporation Rosatom, Sergey Kirienko, telling Prime Minister Vladimir Putin that the Bulgarian cabinet has all the information they need and the ball is in their court now to make a decision on the project'...
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Date: 2010-08-19 10:29:10 | Source: Novinite.com
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City Hall Irons out Contract for 3rd Sofia Subway Section
The CEO of the Bulgarian Metropolitan Inc, Stoyan Bratoev, signed a contract with the Czech Metroproekt Prague for the so-called Diameter 3 of the Sofia subway.
The news was reported Thursday by the Sofia City hall.
The contract was signed after the Czech submitted the best bid in a public tender for the preparation of an investment project for the 21-km-long subway section with 23 metro stops.
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Date: 2010-08-19 09:10:35 | Source: Novinite.com
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Bulgaria's Energy Watchdog: Gas Price Might Go Down
The Head of the Bulgarian State Commission for Energy and Water Regulation (DKEVR), Angel Semerdzhiev, stated there is a possibility to lower gas prices in the country during the third and fourth quarter of 2010.
Semerdzhiev spoke Thursday in an interview for the Bulgarian National Television, BNT, on the heels of an announcement of the gas supplier Bulgargaz that prices will have to go up 3% in October, contradicting DKEVR's earlier forecasts that in the beginning of the cold season prices wil...
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Date: 2010-08-19 06:35:05 | Source: Novinite.com
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Bulgaria Watchdog: National Electric Co, EVN Guilty of Power Problems
The Bulgarian energy watchdog has decided that both the National Electric Company (NEK) and the Austria-owned power utility EVN were responsible for the problems with electric supply to the southern Black Sea coast.
The decision comes a day after NEK blamed EVN for constantly attracting new customers without taking into account the capacity of the electric network which is owned by NEK.
The accusation, however, was a result of statement by EVN that the power outages in the Black Sea resorts we...
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Date: 2010-08-18 15:40:23 | Source: Novinite.com
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Sofia Europe's Costliest Capital for Residential Property
Sofia, Bucharest and Warsaw are the three most expensive capitals in Europe when measured by the ratio of how much the average resident earns versus the cost of housing, a survey shows.
The average yearly salary in Poland, Romania and Bulgaria is only sufficient to buy a mere one or two square meters in the respective centers of each of the three countries' capital cities, according to data of the Polish real estate company Home Broker.
With the average yearly salary, a Bulgarian citizen can b...
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Date: 2010-08-18 14:15:57 | Source: Novinite.com
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Russian Property Buyers Prefer Bulgaria Most
Bulgaria ranked 1st in the chart of a Russian website for interest of Russian property buyers abroad for July.
According to Prian.ru, in July, 21,55% of all requests for properties were for Bulgaria, while in June the number was a little below 20%.
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Date: 2010-08-18 14:14:31 | Source: Novinite.com
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Subway Districts Most Popular in Bulgaria's Sofia
Apartments in the neighborhoods along the subway are the most wanted for renting in the Bulgarian capital.
According to the real estate agency "Address", the most desired Sofia neighborhoods for renting are Mladost, Darvenitza, Iztok and Lyulin.
The monthly rent for a two-room apartment varies between EUR 190 and EUR 280....
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Date: 2010-08-18 13:28:14 | Source: Novinite.com
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Melrose Resources Opens New Fields in Bulgaria in Sept
British oil and gas explorer Melrose Resources announced it expects to receive a boost when the first of two Bulgarian fields begins production in September.
Dave Thomas, chief executive, said the Bulgarian fields were crucial to increasing the company's cash flow.
"Cash from operations will grow steeply....
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Date: 2010-08-18 11:26:20 | Source: Novinite.com
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Gray Economy Grips 50% of Bulgaria's Tourism Industry
The gray economy in the Bulgarian tourism sector is anywhere between 40% and 50%, according to the President of the Bulgarian Tourist Chamber (BTCH), Tsvetan Tonchev.
The staggering percentage was reported Wednesday in the aftermath of news that probes conducted by Bulgarian revenue agents on the Black Sea coast have revealed huge tax evasion scams.
Tonchev says taxes from the tourist sector must bring BGN 60 M a year into the treasury, but right now the State gets the mere BGN 12 M....
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Date: 2010-08-18 11:20:58 | Source: Novinite.com
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Bulgaria's Albena Resort Registers 10% Increase of Tourists Y/Y
The Bulgarian Black Sea resort Albena has had 10% more tourists in the summer of 2010, in comparison to last year.
The commercial director of Albena, Margita Todorova, has announced that this year the number of Rusian tourists has increased by 42% and of Germans - by 17%.
Since the beginning of the season, more than 6000 Bulgarians have chosen to have their vacation in Albena, which is an increase by 18%, year-on-year.
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Date: 2010-08-18 10:22:10 | Source: Novinite.com
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Bulgaria's GERB Hold Fair on Football Star Stoichkov's Property
The ruling Bulgarian center-right Citizens for European Development of Bulgaria (GERB) party is organizing a farming fair on a land plot owned by football legend Hristo Stoichkov.
The "Haberleya 2010" fair will be held during the weekend near the Smolyan Lakes in the Rhodope Mountains under the patronage of Prime Minister, Boyko Borisov. It aims at promoting local farmers and their products....
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Date: 2010-08-18 08:03:43 | Source: Novinite.com
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