Business

Audit Finds BGN 4.2 B Impairment Costs on KTB Balance Sheet, Bulgaria C. Bank Says

Nearly two-thirds of the value of the assets of Corporate Commercial Bank (KTB) has to be wiped off due to KTB’s failure to stick to ‘prudent banking practices’, its auditors have concluded.

Business | 8 hours ago | Viewed: 790

Westinghouse Picks М3 Communications for Its PR Agency in Bulgaria

Leading Bulgarian PR firm М3 Communications Group, Inc. will back US-based Westinghouse Electric’s efforts to move forward with planned expansion of Bulgaria’s Kozloduy nuclear power plant.

Business » Energy | October 22, 2014, Wednesday // 16:24 | Viewed: 478

Bulgaria, Romania Agree to Build 2 More Bridges over Danube River

Bulgaria and Romania have agreed to build two new bridges over the Danube River.

Business | October 22, 2014, Wednesday // 15:26 | Viewed: 545

Bulgaria's National Tourism Council Demands Separate Ministry

Representatives of the most influential associations, members of Bulgaria's National Tourism Council have once again agreed on the need to establish a separate Tourism Ministry.

Business » Tourism | October 22, 2014, Wednesday // 12:42 | Viewed: 397

Bulgaria's Plovdiv Among Lonely Planet's Best Travel Destinations 2015

Bulgarian city of Plovdiv has been ranked 6th in a list of the hottest destinations in the world to visit in 2015 which have been announced by travel publisher Lonely Planet.

Business » Tourism | October 21, 2014, Tuesday // 18:59 | Viewed: 1521

Bulgaria, Romania to Sign Memorandum To Build Two New Bridges Over Danube

Bulgaria and Romania will sign a Memorandum of Understanding to implement feasibility studies on the construction of two new bridges over the Danube River, Transport Minister Nikolina Angelkova said, Tuesday.

Business | October 21, 2014, Tuesday // 16:28 | Viewed: 898

Bulgaria's Energy Market 'Needs More Dealers'

There is a lack of competitors in energy trade on the liberalized energy market, the Bulgarian energy watchdog DKEVR warned Tuesday.

Business » Energy | October 21, 2014, Tuesday // 12:58 | Viewed: 651

Incoming EU Energy Commissioner Prefers Southern Gas Corridor over South Stream

EU should back the Southern Gas Corridor, a project rivaling the South Stream gas pipeline, as a means to provide security of energy supplies, Slovakia's EU Commissioner designate Maroš Šefčovič has said.

Business » Energy | October 21, 2014, Tuesday // 11:43 | Viewed: 968

Poland's Sikorski Denies Ukraine Partition Comments

Polish ex-Foreign Minister Radoslaw Sikorski has responded to an article in a US magazine where he allegedly says Russia offered Poland to annex five Ukrainian provinces.

Business | October 21, 2014, Tuesday // 11:07 | Viewed: 691

EU Bank Watchdog Urges Bulgaria to Ensure Instant Access to KTB Deposits

European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.

Business » Finance | October 21, 2014, Tuesday // 09:42 | Viewed: 1062

Conservators at Bulgaria’s Corpbank Submit Audit Report

The conservators at Corporate Commercial Bank (Corpbank, KTB) have submitted to the Bulgarian National Bank (BNB) the audit of the financial institution.

Business » Finance | October 20, 2014, Monday // 19:26 | Viewed: 1088

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

Bulgaria’s Finance Ministry reopened the 10.5 year issue of Government Securities (GS) issued on 15 January 2014 with maturity 15 July 2024.

Business » Finance | October 20, 2014, Monday // 18:53 | Viewed: 613

Employment Agency Director Decries Inefficiency of Job Schemes

Asen Angelov, Executive Director of Bulgaria’s Employment Agency, has underscored the inefficiency of labor market policy, drawing attention to the fact that they have remained unchanged for over eight years and have only had a temporary effect.

Business | October 20, 2014, Monday // 17:41 | Viewed: 565

Kozloduy NPP Completes Planned Annual Overhaul of Unit 6

The planned annual overhaul of unit 6 of Bulgaria’s Kozloduy nuclear power plant has been completed and it has been reconnected to the energy grid.

Business » Energy | October 20, 2014, Monday // 15:54 | Viewed: 592

Tsvetan Vasilev: BNB Not Willing to Discuss Options to Restructure Corpbank

Bulgaria's central bank is resorting to "absurd" excuses to avoid carrying out its legal duties about Corporate Commercial Bank (Corpbank or KTB), its owner has said.

Business » Finance | October 20, 2014, Monday // 13:54 | Viewed: 872

Bulgaria's Varna Registers Higher Revenues, Fewer Tourists in Summer 2014

Hotels in Bulgaria's Black Sea city of Varna have reported some BGN 163M revenue in the period June-August, according to data released by the regional statistical office.

Business » Tourism | October 20, 2014, Monday // 11:34 | Viewed: 855

President Plevneliev to Open 10th World Meeting of Bulgarian Media

Bulgaria's President Rosen Plevneliev will open the 10th World Meeting of Bulgarian Media at the Central Military Club in Sofia, Monday.

Business | October 20, 2014, Monday // 10:38 | Viewed: 605

Kozloduy NPP Transferred BGN 7 M to Westinghouse under Upgrade Program for Units 5, 6

Bulgaria’s Ministry of Economy and Energy specified that US company Westinghouse Energy Systems had been transferred over BGN 7 M under an upgrade program for units 5 and 6 of the Kozloduy NPP.

Business » Energy | October 19, 2014, Sunday // 13:24 | Viewed: 1063

Russian Bank To Acquire Bank Victoria?

Rossiyskiy Kredit Bank wants to acquire 100% of the capital of Bulgaria's Victoria commercial bank (formerly Credit Agricole Bulgaria), part of the troubled Corporate Commercial Bank (KTB), reports BGNES.

Business » Finance | October 18, 2014, Saturday // 12:14 | Viewed: 1820

Bulgarian Employers, Trade Unions, Decry Lobby Groups in Energy Board

Representatives of Bulgarian employers’ associations and trade unions have complained of the presence of strong lobby groups in the Energy Board in a letter to caretaker Prime Minister Georgi Bliznashki and caretaker Deputy Prime Minister Ekaterina Zahari

Business » Energy | October 17, 2014, Friday // 21:15 | Viewed: 1288

First Investment Bank Buys Major Portion of Assets of Bulgaria’s Remotex-Radnevo

First Investment Bank (Fibank) has paid BGN 8,893 M at an auction to acquire the main part of the assets of bankrupt machine building company Remotex-Radnevo.

Business | October 17, 2014, Friday // 16:26 | Viewed: 1260