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Nabucco to Get Gas through Georgia, Iraq
The Nabucco pipeline project has modified its gas supply concept to include two feeder pipelines leading to Turkey - one from Georgia and one from Iraq.
This is seen as following Nabucco's commitment to a "multi-source approach" to guarantee stable and adequate deliveries of gas to Europe.
The decision for introducing two feeder lines was taken at the last meeting of Nabucco's Steering Committee in Ankara and reported Monday.
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Date: 2010-08-23 10:33:28 | Source: Novinite.com
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Construction in Bulgaria Shows Signs of Recovery
Construction permits issued in Bulgaria in the second quarter of 2010 are up compared to the first quarter, but down on annual basis.
The data was published by the National Statistics Institute (NSI) Monday.
1 441 residential permits have been issued between April and June 2010 for a total of 3 933 apartments....
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Date: 2010-08-23 09:43:17 | Source: Novinite.com
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IMF: Eastern Europe Poised for Economic Recovery - Report
The IMF stated Eastern Europe is poised for economic recovery for the first time since the beginning of the financial crisis, the Bulgarian National Radio, BNR, reports, citing Deutshe Welle.
Previous forecasts of the International Monetary Fund (IMF) were for slower and lesser rebounding in Eastern Europe compared to other developing economies in the world.
IMF sees as a sign of recovery the increasing export and the stabilization of the internal demand, and expects an economic growth of 3......
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Date: 2010-08-23 07:51:23 | Source: Novinite.com
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Jail Looms for Bulgarian Resort Owners over Tax Evasion
The owners of a company, managing several establishments in the Bulgarian beach resort of Lozenets, are probed by the prosecutor over charges of large-scale tax evasion.
The news was reported by the Bulgarian National Revenue Agency (NRA). The Penal Code provides for up to eight years behind bars for a similar crime.
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Date: 2010-08-23 06:38:03 | Source: Novinite.com
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Bulgaria's Power Utility CEZ to Improve Power Supply in Sofia
The Czech-owned power utility CEZ is planning to invest more than BGN 1 M for improving the quality of power supply in the region of Sofia and in Southwestern Bulgaria.
Ales Damm, Chief Operational Officer of CEZ Bulgaria, has announced that the improvement works will be carried out in August when most of the people from Sofia and the region go on vacations.
"We use the holiday season to carry out the necessary actions for renovation and optimization of the electricity distribution network in ...
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Date: 2010-08-22 17:04:03 | Source: Novinite.com
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Irish to Sue Property Journalists for Luring Them to Bulgaria
Property journalists have emerged as the latest hate figure in Ireland, most easily blamed by those who lost a fortune or who have been left with unsellable property in foreign countries, including Bulgaria, The Independent wrote.
Although a case has yet to be lodged, a number of aggrieved investors are said to be consulting Dublin lawyers about launching a case against certain journalists who, they believe, were responsible for misleading them into investing in developments that failed to deli...
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Date: 2010-08-22 09:12:42 | Source: Novinite.com
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Shut-down Looms for Bulgaria's Nuclear Safety Institute
Russia will sue Bulgaria over unpaid USD 1.35 M owed for the removal of used nuclear fuel, according to Prof. Yordan Stamenov, Director of the Institute for Nuclear Research and Nuclear Energy (INRNE) at the Bulgarian Academy of Sciences.
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Date: 2010-08-21 13:10:57 | Source: Novinite.com
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Bulgarian Police Launch 'Twerps' Special Ops
The Bulgarian police launched early Saturday morning their latest special police operation codenamed "The Twerps," Interior Minister, Tsvetan Tsvetanov, reported.
According to Tsvetanov, the operation resulted in the arrest of Dimitar Komarov, 24, AKA Kiflata (The Bun), who is a high-profile underworld figure.
The Minister further explained the police targeted an organized crime group dealing with armed robberies and theft.
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Date: 2010-08-21 09:02:49 | Source: Novinite.com
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Bulgaria Eyes HSBC, Societe Generale, Rothschild for Belene N-Plant Consultant
HSBC, Societe Generale and Rothschild have been shortlisted in the tender for a financial consultant of Bulgaria's planned Belene nuclear power plant, the country's energy holding announced.
Six candidates submitted at the end of March documents to bid in the tender opened by the Bulgarian Energy Holding for Belene consultant - HSBC, Societe Generale, KPMG in a consortium with McGuire, Rothschild, Argil, and Ernst & Young.
The Bulgarian Energy Holding is expected to pick a consultant to help i...
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Date: 2010-08-20 16:06:54 | Source: Novinite.com
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Bulgaria Wraps Up Tower Company Sale for EUR 57 M
The sale of 50% stake in Bulgaria's radio and television broadcasting unit NURTS to Cyprus-based international financial investor Mancelord Limited has been recorded in the country's trade register, bringing the deal to completion.
The move comes two months after the Competition Protection Commission (CPC) and the Communications Regulatory Commission (CRC) came up with their approval of the deal amidst harsh criticism for being unlikely to sufficiently probe who is behind the sale.
The Bulgari...
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Date: 2010-08-20 13:31:04 | Source: Novinite.com
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Major Wind Power Investment Looming for Northeastern Bulgaria
The German-Bulgarian company SRS Bulgaria will invest close to BGN 500 M to create a wind power park nearby the town of General Toshevo in northeastern Bulgaria.
The investment of the company, registered in the northern Bulgarian city of Pleven, will span over three years 2010-2012 and will open 20 new workplaces.
The project involves constructing and exploitation of a wind power station with 60 generators with 150-180 MW power.
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Date: 2010-08-20 12:00:22 | Source: Novinite.com
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Bulgarian Tax Agents Fine Towing Cars at Black Sea Coast
The two towing cars in the Bulgarian Black Sea town of Primorsko did not have cash registers and have declared a 100% profit, the National Revenue Agency has announced.
During a check, the tax agents have established that the drivers of the towing cars have been issuing notes that were not recorded anywhere and did not count as official accounting documents.
The owner of the towing cars has been given two statements for the lack of cash registers....
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Date: 2010-08-20 11:53:08 | Source: Novinite.com
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Bulgarian Consumer Rights Watchdog Fines Fake Travel Agency
The Bulgarian Commission for Protection of Consumers (CPC) has fined a travel agency that has offered trips abroad without having a registration as a tour operator.
The office in Sofia of the travel agency "Misys International" has been temporary closed.
On its website, the agency has stated that it is a fully licensed travel agency with a license number 04721....
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Date: 2010-08-20 09:29:15 | Source: Novinite.com
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Ministry of Finance: Fitch Optimistic about Bulgaria
Fitch confirmed its credit rating for Bulgaria and characterized the situation in the country as "stable", announced the Bulgarian Ministry of Finance Thursday.
Fitch Ratings themselves report that Bulgaria's rating stays at F3 for short-term foreign currency, BBB- for long-term foreign currency, and BBB for long-term local currency.
The outlook for the long-term rating of Bulgaria nevertheless also stays "Negative....
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Date: 2010-08-19 16:25:38 | Source: Novinite.com
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Bulgarian Authorities, Utilities to Mull Black Sea Electricity Blackout
Bulgaria's finance minister Simeon Djankov, Burgas region governor Konstantin Grebenarov and representatives of the EVN and NEK power utilities are going to discuss Friday the recent power blackouts that left a number of towns and thousands of tourists in the dark.
According to information from Burgas24.bg, authorities and utilities will talk about the causes and possible remedies of the grave accidents this Monday and some days ago that stopped the electricity supply of towns around Burgas, ma...
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Date: 2010-08-19 12:52:03 | Source: Novinite.com
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Bulgaria's Power Utility CEZ to Invest in Key Cables Replacement
The Czech-owned power utility CEZ, servicing western Bulgaria, has announced that it will provide BGN 240 000 for renovation of the electricity distribution network in the town of Samokov.
The company is planning to replace 4 km cables of 20 kV of the substation Samokov by the end of September.
"The quality and safety of the power supply in Samokov will improve significantly thanks to our investments in the network," said Ales Damm, Chief Operational Officer of CEZ Bulgaria.
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Date: 2010-08-19 12:27:29 | Source: Novinite.com
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