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Business » Finance

Sofia City Court Halts Insolvency Proceedings at KTB

The Sofia City Court has stopped insolvency proceedings launched at Corporate Commercial Bank (KTB).

Business » Finance | November 24, 2014, Monday // 11:39 | Viewed: 955

Bulgaria Adopts 2015 Budget with 3% Deficit

Bulgaria’s parliament has approved the 2015 budget with deficit equivalent to 3% of the projected Gross Domestic Product.

Business » Finance | December 20, 2014, Saturday // 11:29 | Viewed: 509

Fitch Maintains Bulgaria’s Credit Rating At ‘BBB-‘ With Stable Outlook

Fitch has affirmed Bulgaria's long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB-'and 'BBB', respectively, with stable outlook.

Business » Finance | December 20, 2014, Saturday // 10:52 | Viewed: 498

Government to Discuss New Bank Law

Bulgaria's Government will discuss on Wednesday new bank law, which will provide better guarantees for the bank deposits, reports the bTV national channel.

Business » Finance | December 17, 2014, Wednesday // 08:27 | Viewed: 764

USD 25 B in Illicit Flows Syphoned Off from Bulgaria in 10 Years

A total USD 25 B were illicitly syphoned off from Bulgaria in the past 10 years, shows the report Illicit Financial Flows from Developing Countries 2003-2012 of the Global Financial Integrity (GFI) NGO.

Business » Finance | December 16, 2014, Tuesday // 11:58 | Viewed: 1207

Drop in Fuel Prices Results in Deflation in Bulgaria

Inflation has returned to its negative values in November, when the index of consumer prices decreased with 0.4 % compared to October.

Business » Finance | December 15, 2014, Monday // 19:03 | Viewed: 1151

FinMin Repays Municipalities' Funds Blocked in Corpbank

Bulgaria's Finance Ministry restored the remaining BGN 36.8 million due to 15 municipalities that had their accounts blocked in Corporate Commercial Bank (KTB).

Business » Finance | December 15, 2014, Monday // 17:45 | Viewed: 656

Bulgaria Records Drop of Direct Investments in 2014

The direct investments in Bulgaria have decreased with 38.6 % for the ten-month period from January to October 2014, compared to the same period last year.

Business » Finance | December 15, 2014, Monday // 15:42 | Viewed: 838

Mayor of Pernik Declares Municipality Is Bankrupt

The mayor of the Bulgarian city of Pernik Ivan Ivanov declared that the municipality has gone bankrupt.

Business » Finance | December 14, 2014, Sunday // 12:18 | Viewed: 1106

KTB Majority Holder Invites Ambassadors to KTB Court Hearing Monday

Bromak, the majority holder in the collapsed Corporate Commercial Bank (KTB), has invited foreign ambassadors to the  hearing at the Supreme Administrative Court (SAC) on Monday, the company lawyer Menko Menkov told Novinite.

Business » Finance | December 13, 2014, Saturday // 13:04 | Viewed: 1091

Sofia Will Also Get 'Junk' Credit Rating

Bulgaria's capital Sofia credit rating will also be downgraded to “junk”, said the deputy mayor in budget and finances Doncho Barbalov, quoted by Dnevnik.

Business » Finance | December 13, 2014, Saturday // 11:22 | Viewed: 1085

Standard & Poor's Downgrades Bulgaria to 'Junk' Status

Credit ratings agency Standard & Poor's cut Bulgaria’s sovereign credit ratingto BB+ from BBB- with a stable outlook.

Business » Finance | December 12, 2014, Friday // 21:02 | Viewed: 3054

Bulgarian Development Bank Conducts Top-Level Reshuffle

The Supervisory Board of the Bulgarian Development Bank (BDB) has conducted a top-level reshuffle.

Business » Finance | December 12, 2014, Friday // 18:56 | Viewed: 1906

Bulgarian Parliament OKs EUR 1.5 B Bridge Loan

Lawmakers have given the thumbs up on a six-month bridge loan worth BGN 3 B (EUR 1.

Business » Finance | December 12, 2014, Friday // 12:32 | Viewed: 939

Bulgaria's Victoria Bank Opens Friday

Commercial Bank Victoria EAD is opening on Friday, December 12, following nearly half a year of conservatorship.

Business » Finance | December 12, 2014, Friday // 07:40 | Viewed: 869

Victoria Bank to Open on Friday after Months of Supervision

Commercial Bank Victoria EAD is due to renew transactions and services for customers as of December 12, 2014, Bulgaria's central bank has said.

Business » Finance | December 11, 2014, Thursday // 16:31 | Viewed: 675

Politicians, Key Prosecutors Brought KTB to Artificial Bankruptcy – KTB Majority Shareholder

Tzvetan Vasilev, Chairman of the Supervisory Board and majority shareholder in Corporate Commercial Bank AD, has argued that the bank has fallen victim to a disgraceful smear campaign organized by the political and economic circles around liberal party Mo

Business » Finance | December 11, 2014, Thursday // 13:26 | Viewed: 721

ECB: Proposed Changes to Bulgaria Deposit Insurance Law Harm C-Bank

The European Central bank has warned against proposed amendments to the Deposit Insurance Act, saying they could constitute an infringement on the national bank's independence.

Business » Finance | December 10, 2014, Wednesday // 17:21 | Viewed: 1034

Over BGN 2 B Of KTB Guaranteed Deposits Already Paid Off

More than BGN 2 B of the guaranteed deposits in the Corporate Commercial Bank (KTB), which is undergoing an insolvency court procedure, have already been paid off, reports the Deposit Insurance Fund (DIF).

Business » Finance | December 10, 2014, Wednesday // 13:22 | Viewed: 597

Finance Ministry Reopens 10.5-Year Issue of BGN-Denominated Govt Securities

Bulgaria’s Ministry of Finance reopened for the last time in 2014 the 10.

Business » Finance | December 9, 2014, Tuesday // 16:38 | Viewed: 572

State Would Cost BGN 4579 To Each Bulgarian Citizen In 2015

In 2015 the Bulgarian state would cost each Bulgarian citizen BGN 4579, plus a debt of BGN 3418, shows a calculation of the Institute for Market Economy, based on the draft state budget.

Business » Finance | December 9, 2014, Tuesday // 14:55 | Viewed: 800

Parliament Passes State Budget 2015 At First Reading

By a vote of 130 for and 82 against, at an extraordinary session Bulgaria's MPs passed at first reading the State Budget for next year.

Business » Finance | December 8, 2014, Monday // 19:11 | Viewed: 688