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Bulgaria secures one-year extension on Belene loan - minister

The Sofia Echo staff — Mon, 07 May 2012 15:46:00 +0300

The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.

Euro zone unemployment at record high

VOANews — Thu, 03 May 2012 07:11:00 +0300

The Eurostat data agency said that unemployment reached 10.9 per cent in March, up from 10.8 per cent in February. The March figure translates to 17.4 million people unemployed in the euro zone.

Sale of Bulgarian telecom BTC faces cancellation – report

The Sofia Echo staff — Wed, 02 May 2012 12:29:00 +0300

Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.

Raiffeisen takes over Polbank

The Warsaw Voice — Wed, 02 May 2012 08:17:00 +0300

Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.

Global jobs crisis to continue for some time, ILO report says

The Sofia Echo staff — Wed, 02 May 2012 07:46:00 +0300

The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.

The stigma of entrepreneurship in Central Europe

Les Nemethy — Fri, 27 Apr 2012 15:01:00 +0300

It will take time for societal views to evolve in Central Europe; I believe they are evolving, but faster would be better.

S&P cuts Spain's credit rating

VOANews — Fri, 27 Apr 2012 07:49:00 +0300

In reducing the country's sovereign debt rating from 'A' to 'BBB+,' S&P cited what is calls the risk that Spain's debt could expand while the economy shrinks.

Food prices rise again because of higher oil prices, adverse weather – World Bank

The Sofia Echo staff — Thu, 26 Apr 2012 11:39:00 +0300

If the current forecasts for increased food production do not materialise, global food prices could reach higher levels.

Piano plays on with two million euro investment

Jana Liptáková, The Slovak Spectator — Wed, 25 Apr 2012 00:13:00 +0300

Piano Media, an online subscription-based content payment system for media publishers, was launched in Slovakia just a year ago. Despite initial doubts about the viability of a paywall that covers popular (and previously free) websites, the project has been attracting investors and expanding abroad.

Oil shocks ahead as refiners hunt new sources

Emily Thompson, The Prague Post — Mon, 23 Apr 2012 11:00:00 +0300

Low flow from Russian pipeline startles market and accelerates diversification plans.

Bulgaria allocates 50M leva for business start-ups

The Sofia Echo staff — Fri, 20 Apr 2012 14:48:00 +0300

Funding scheme open only to those registered as unemployed, with at least 2500 people to receive grants of up to 20 000 leva, labour minister says.

Competitiveness of the enterprise

Les Nemethy — Thu, 19 Apr 2012 15:37:00 +0300

Competitiveness – at both the national and enterprise level – should be square in the centre of the debate on how to resolve the European crisis.

Bulgaria competition watchdog fines four cash register producers 1M leva

The Sofia Echo staff — Wed, 18 Apr 2012 17:19:00 +0300

Investigation finds that on two occasions, in February 2008 and April 2009, the companies raised prices at the same time, proof of pricing policy co-ordination to harm competition.

The case for improving Europe's economic competitiveness

Les Nemethy — Wed, 18 Apr 2012 16:10:00 +0300

Can the European debt crisis be solved without improving competitiveness?

ECB critical of Bulgaria's plans to use Silver Fund to buy securities

Alex Bivol — Wed, 18 Apr 2012 14:55:00 +0300

Changed investment framework envisioned by the amendments 'may distort domestic securities markets', skew yields and endanger Bulgaria's efforts to meet euro zone accession criteria, ECB warns.

IMF optimistic about global economic growth

Mil Arcega, VOANews — Wed, 18 Apr 2012 06:53:00 +0300

The EU may have eliminated the threat of a Greek default and lowered borrowing costs in other high debt countries. Improvements are also seen in sub-Saharan Africa and South Africa, where economic output is likely to expand five and a half per cent.

Bulgaria's revenue agency to check 3000 firms

The Sofia Echo staff — Tue, 17 Apr 2012 12:11:00 +0300

Inspectors to investigate financial reports of the firms that showed a drastic increase or decrease in their daily turnover since linking to the NRA database.

European Union set to cap roaming fees

Laura Burgoine, The Prague Post — Tue, 17 Apr 2012 08:44:00 +0300

Consumer groups say operators will find other ways to charge.

BBB juice factory in Bulgaria’s Botevgrad for sale over unpaid debts to bank

The Sofia Echo staff — Tue, 17 Apr 2012 08:15:00 +0300

Property owned by BBB in the village of Trudovets in the Botevgrad area is on sale for a starting price of 2.36 million leva.

Bulgarian inflation at 1.7% Y/Y in March

The Sofia Echo staff — Thu, 12 Apr 2012 16:05:00 +0300

Two of the main factors contributing to inflation in March was a sharp jump in the price of eggs ahead of the Eastern Orthodox Easter and the steady increase in the price of fuels.