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China Billionaire Drops Plans to Invest in Bulgaria's Vivacom
The Hong Kong-based telecom PCCW has abandoned plans to invest in Bulgaria's biggest telecom Vivacom, Bloomberg reported quoting Managing Director Alex Arena.
"The company will continue to look for opportunities overseas, after turning down an offer to invest in Bulgaria's Vivacom," Arena said during a briefing in Hong Kong, according to the Bloomberg report.
PCCW have confirmed for the Bulgarian daily "Dnevnik" that the company is no longer interested in investing in the Bulgarian telecom....
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Date: 2010-08-18 07:28:16 | Source: Novinite.com
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Bulgarian Regional Ministry Offers BGN M as Help for Local Tourism
The Bulgarian Ministry of Regional Development announced Tuesday they are releasing the funds to assist local municipalities in developing the tourism sector.
The program has been long-anticipated by the authorities around the country because it increases the amount for co-financing from 5% to 15%.
The "Assistance for Development of Natural, Cultural, and Historical Attractions" item is part of the EU "Regional Development" program....
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Date: 2010-08-17 16:32:46 | Source: Novinite.com
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Bulgaria's Bulgargaz Mulls New 3% Gas Price Hike
The Bulgarian gas supplier Bulgargaz forecasts a 3% price increase in the beginning of October 2010, according to a company letter sent to Bulgarian media Tuesday.
Bulgargaz, however, point out the hike would have been 7%, but new agreements with the Russian energy giant "Gazprom" allowed keeping lower price levels.
The announcement comes on the heels of earlier expectations of the State Commission for Energy and Water Regulation (DKEVR) that in the beginning of the cold season in October pric...
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Date: 2010-08-17 16:11:38 | Source: Novinite.com
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Bulgarian Electric Co, EVN Exchange Blows over Resort Blackouts
The Bulgarian National Electric Company (NEK) attacked Tuesday the Austrian-owned power utility EVN, saying the problems with electric supply to the southern Black Sea coast are the latter's fault.
NEK blames EVN for constantly attracting new customers without taking into account the capacity of the electric network which is owned by NEK.
The move comes in the aftermath of the Monday press release distributed by EVN regarding talks between the company's Regional Manager, Joerg Zolfelner, and F...
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Date: 2010-08-17 13:06:22 | Source: Novinite.com
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Melrose Upbeat on Bulgarian Gas Fields Production
British oil and gas explorer Melrose Resources reported a 30% rise in half yearly pre-tax profit, helped by higher oil prices, and said it expects to reveal increased production from its Bulgarian gas fields.
For the six months ended 30 June pre-tax profit rose to USD 26.2 M compared to USD 19....
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Date: 2010-08-17 11:18:42 | Source: Novinite.com
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Bulgarian Black Sea Coast Enjoys More Tourists in July, August
There were about 10% more tourists at the Bulgarian Black Sea coast in July and August in comparison to the same period last year.
The statement was made by Elena Ivanova, head of the Union of Owners of Nesebar.
"The interest towards the Bulgarian Black Sea coast is due to the fact that the resorts offer prices that are similar or even better than those in Greece and Turkey," Ivanova said.
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Date: 2010-08-17 06:47:09 | Source: Novinite.com
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Forbes Bulgaria to Hit the Market in November
Bulgarians will enjoy a special annual edition of the Forbes magazine in November, which will set the beginning of the first Bulgarian edition of Forbes.
Attica Media Bulgaria has announced that the special edition will be on the market on November 10. It will present the world famous list of international, as well as Bulgarian, billionaires and it will feature analyses of current economic and financial issues in the country.
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Date: 2010-08-17 06:00:43 | Source: Novinite.com
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Forbes Bulgaria to Hit Market in November
Bulgarians will enjoy a special annual edition of the Forbes magazine in November, which will set the beginning of the first Bulgarian edition of Forbes.
Attica Media Bulgaria has announced that the special edition will be on the market on November 10. It will present the world famous list of international, as well as Bulgarian, billionaires and it will feature analysis of current economic and financial issues in the country.
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Date: 2010-08-17 06:00:43 | Source: Novinite.com
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Bulgaria's Sunny Beach Complains of Image Attack
The owners of the biggest Bulgarian Black Sea resort Sunny Beach has claimed that there has been an intentional attack against the resort in the past few months.
The head of the Managing Board of the Union of Owners of Sunny Beach, Elena Ivanova, has announced that the most serious problems of Sunny Beach are the uncategorized tourist sites, the false exchange rates at the change bureaus and the unrealistically high rates of the taxis.
"The resort is doing very well and is going through a very...
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Date: 2010-08-16 12:32:42 | Source: Novinite.com
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Bulgaria's Port of Burgas Boasts Soaring Profits
The port in the Bulgarian Black Sea city of Burgas is boasting a profit of nearly BGN 1 M for the first seven months of 2010, the company informs Monday.
In comparison, the port had losses of nearly BGN 2 M for the same period of 2009.
The good results are explained with the increased efficiency of the activities at the port and a series of measures undertaken by the new management.
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Date: 2010-08-16 11:18:21 | Source: Novinite.com
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FDI in Bulgaria Slump by 78% in 2010 H1
The foreign direct investments (FDI) in Bulgaria for the first six months of 2010 was EUR 358,5 M, or 1% of the country's GDP, the Bulgarian National Bank (BNB) has announced.
The data from BNB shows a drop of FDI by 78%, in comparison to last year when Bulgaria registered foreign investments amounting to EUR 1,6 B, or 4,8% of the GDP.
For the period January-July 2010, the Netherlands, Russia and the United States invested the most in Bulgaria - EUR 933 M, EUR 103,4 M and EUR 47,3 M respective...
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Date: 2010-08-16 10:51:34 | Source: Novinite.com
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Bulgaria's June Current Account Balance Ends on Positive
Bulgaria's trade deficit has shrunk in June while the current account balance is positive, according to data of the country's Central Bank, BNB.
In June, the current account had a surplus of EUR 117 M, compared to the negative, EUR 3.8 M balance, in May....
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Date: 2010-08-16 10:39:39 | Source: Novinite.com
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Bulgaria's CEZ Power Utility Attempts to Counter Overdue Bills
The Czech-owned power utility CEZ, servicing western Bulgaria, remind Monday they offer their customers the option to temporarily disconnect the electric supply of those who will be away from home for an extended period of time.
The service is suited for people traveling during the summer and year-round, wishing not only to save on their bill, but to prevent electricity theft or damages.
In the first half of 2010, 1 419 customers have used the service....
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Date: 2010-08-16 10:09:48 | Source: Novinite.com
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Unemployment in Bulgaria Down for 5th Consecutive Month
The unemployment in Bulgaria has dropped down for a fifth consecutive month and has reached 9,23%, the State Employment Agency has announced.
In comparison to June 2010, the unemployment has decreased by 0,03%. In July, 341 999 people registered at employment agencies, which was 1010 people less than the month before.
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Date: 2010-08-16 09:18:46 | Source: Novinite.com
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Large-scale Tax Evasion Scams Busted at Bulgarian Beach Resorts
The mass tax probes of the Bulgarian National Revenue Agency (NRA) on the entire Black Sea coast during the last two weekends have uncovered hidden turnover of BGN 1.5 M, the NRA Director, Krasimir Stefanov says.
The concealed Value Added Tax (VAT) from this turnover is BGN 300 000.
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Date: 2010-08-16 08:57:07 | Source: Novinite.com
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Bulgaria Eyes Azerbaijani Natural Gas Supply
Bulgaria, Georgia, and Azerbaijan will sign by September 24 an agreement for a preliminary research of possibilities for gas supply to Bulgaria.
The information was reported by the Bulgarian newspaper Klasa, citing the CEO of Bulgartransgaz, a subsidiary of the Bulgarian state-owned gas company Bulgargaz, Ivan Drenchovski.
Drenchovski says experts will meet either in Azerbaijan - in the capital Baku, or in the Georgian capital Tbilisi to discuss transporting gas from Azerbaijan through Georgia...
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Date: 2010-08-16 06:17:24 | Source: Novinite.com
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