Emmanuel Macron Issues Warning to Europe, Urges Strategic Reboot
French President Emmanuel Macron issued a stark warning to Europe, urging the continent to confront the challenges of a rapidly changing world
Austrian home-improvement DIY chain BauMax has officially announced its withdrawal from Turkey.
BauMax owner Karl-Heinz Essl communicated the news on Austrian ORF television and repeated previous information that the company also mulls leaving other markets in Southeast Europe.
He acknowledged that his offer to sell his contemporary art collection to the Austrian government for EUR 250 M and use the money to save jobs in the company had been declined.
With 10 000-strong staff in nine countries, BauMax has had a significant presence in the Balkan countries since mid-2000s.
In 2010 it extended its business by entering the Turkish market in EUR 60 M worth investment, but has recently struggled to keep afloat and has declared it would put its main effort to save its branches at home.
Germany's Praktiker, which is considered Baumax's rival, also announced an exit from Turkey in February 2013.
February this year saw French DIY chain Leroy Merlin announcing plans to end its presence in Turkey within 6 months.
Earlier this week Austria's Die Presse reported for the first time that BauMax was mulling a pullback from Bulgaria and Eastern Europe.
The chain has opened six branches in Turkey, 15 in Romania and eight in Bulgaria, whereas 65 of a total 158 are in Austria.
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Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
As summer approaches, Bulgaria's seaside tourism industry faces a daunting challenge as hotels may remain shuttered due to a severe shortage of staff
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022