SofiaEcho RSS feed Business

Bulgarian MPs resurrect proposal to raise spirits excise

Alex Bivol — Fri, 20 Nov 2009 15:58:00 +0200

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Alex Bivol — Fri, 20 Nov 2009 10:01:00 +0200

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Stefan Antonov — Fri, 20 Nov 2009 10:00:00 +0200

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

The Sofia Echo staff — Fri, 20 Nov 2009 10:00:00 +0200

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

Alex Bivol — Tue, 17 Nov 2009 14:49:00 +0200

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

Delayed Government payments widen Bulgaria’s leasing defaults

Dnevnik.bg — Tue, 17 Nov 2009 10:25:00 +0200

Delayed payments from the Budget as ministries and municipalities slash costs have been piling up pressure on companies scrambling to pay debts

Bulgarian Energy Holding might list on stock market by end-2010

Dnevnik.bg — Tue, 17 Nov 2009 10:19:00 +0200

Plans to list BEH or its subsidiaries have been mooted for months but the Government is yet to decide on how to do the listing.

Bulgaria Finance Ministry refutes reported fiscal reserve plan

Alex Bivol — Mon, 16 Nov 2009 15:42:00 +0200

Bulgaria's Finance Ministry said on November 16 that a Financial Times report about the Cabinet's intention to deposit fiscal reserve funds in commercial banks was erroneous.

Kremikovtzi unions stage rally in Sofia, vow more protests

Nick Iliev — Mon, 16 Nov 2009 14:53:00 +0200

Kremikovtzi labour unions are adamant that the government should play a more active role and try to save the communist-era flagship of Bulgaria's industry.

Bulgaria's Finance Minister sees first shoots of recovery

Dnevnik.bg — Mon, 16 Nov 2009 14:07:00 +0200

Despite statistical data showing that the economy shrank in the third quarter, Bulgarian Finance Minister Simeon Dyankov was optimistic that the first signs of recovery were already visible.

Bulgaria to deposit portion of fiscal reserve with banks - report

Alex Bivol — Mon, 16 Nov 2009 12:51:00 +0200

About one billion leva, or 12 per cent of the fiscal reserve, would be deposited with Bulgarian units of foreign-owned banks, Finance Minister Simeon Dyankov told Financial Times.

Austrian ORS makes new bid for Vivacom re-broadcasting subsidiary

Nick Iliev — Mon, 16 Nov 2009 11:59:00 +0200

Institutional, regulatory and legislative obstacles prevented ORS from finalising the deal before the June 2009 deadline, chief executive says.

Bulgaria recession deepens to 5.8% in Q3 - official estimate

Alex Bivol — Fri, 13 Nov 2009 13:13:00 +0200

Bulgaria's economy shrank by a real 5.8 per cent year-on-year in the third quarter of 2009 and 4.8 per cent year-on-year for the first nine months of the year

Energy system ready for the winter, ministry says

Petar Kostadinov — Fri, 13 Nov 2009 13:02:00 +0200

Unlike last winter, Bulgaria now has a reverse natural gas pipeline link with Greece should Russian gas supplies be halted again.

Bulgargaz to ask 18.3% gas hike from January 1 2010

Nick Iliev — Fri, 13 Nov 2009 12:48:00 +0200

The company will submit its final proposal to the utilities regulator on December 11

McDonald's is 'Bulgaria's best employer '

Nick Iliev — Fri, 13 Nov 2009 12:35:00 +0200

Fast food chain "McDonald's Bulgaria" received the first prize in the "Best Employers in Bulgaria" annual ranking for 2009, in the "large companies" category, while the pharmaceutical firm Astra Zaneca won first place in the medium and small company class,

New Entry: Latvian bank opens branch in Varna

Petar Kostadinov — Fri, 13 Nov 2009 12:23:00 +0200

Regionala Investiciju Banka opened its first office in the country in the Black Sea city of Varna.

Old story of new Familia

Zornitsa Markova — Fri, 13 Nov 2009 10:00:00 +0200

The Sofia-based fast moving consumer goods retailer undergoes third ownership change

Three in a row

Petar Kostadinov — Fri, 13 Nov 2009 09:59:00 +0200

Beer, gambling and legal services could be more expensive in 2010

Watch your step

Les Nemethy — Fri, 13 Nov 2009 09:58:00 +0200

Three things not to do when hiring a financial adviser