http://www.novinite.com/ Real time news provider in English that informs its readers about the latest Bulgarian news - economic, political and cultural, foreign media analysis on Bulgaria and world news. en 2001-2010 Novinite Ltd. http://www.novinite.com/view_news.php?id=119956 119956 Industry Wed, 08 Sep 2010 19:30:30 +0200 Bulgaria’s Deputy Economy Minister Evgeni Angelov is heading a high-level Bulgarian delegation to China to attract investors for the future industrial zone in Bozhurishte near Sofia. Angelov together with other officials such as the management of the state-owned National Company “Industrial Zones” will be in the People’s Republic of China September 8-September 9, presenting the business project for the industrial zone to be built close to Sofia on a plot of a former military air field. The Bozhurishte Industrial Zone is expected to be used primarily by Chinese companies; it is supposed to be managed jointly by the Bulgarian government and Chinese partners. ... http://www.novinite.com/view_news.php?id=119954 119954 Energy Wed, 08 Sep 2010 18:46:28 +0200 Bulgaria appeared to have been represented at a Wednesday's meeting in Moscow on the fate of the Burgas-Alexandroupolis oil pipeline in spite of earlier denial by the Finance Ministry. A representative of the international project company Trans-Balkan Pipeline told the Bulgarian press earlier on Wednesday that the economic plan for the construction of the Burgas-Alexandroupolis oil pipeline would be presented in Moscow on Wednesday. Asked for comment, representatives of the Finance Ministry, which is in charge of the project on part of the Bulgarian government, said they know nothing about the negotiations in Moscow and will duly inform the media if "something happens". ... http://www.novinite.com/view_news.php?id=119934 119934 Business Wed, 08 Sep 2010 13:08:47 +0200 The Bulgarian Motorcycling Federation extended Wednesday apologies to the Economy Ministry and personally to Prime Minister, Boyko Borisov, in connection with the Formula 1 scandal. In an official letter, signed by the Federation's President, Bogdan Nikolov, the latter admits responsibility about the misunderstanding surrounding the potential investor in Bulgaria's project to build a F1 racetrack near the village of Dobroslatvsi, where the Abu Dhabi consortium Emirates Associated Business Group (EABG)was presented as a State-owned company while its Board of Directors President, Mohammed Abdul Jalil al Blouki, was listed as a Sheik. In the letter, Nikolov explains the Federation received information from their negotiators in the Middle East that EABG was a consortium without specifying if it is a private or a State company and that the consortium's top management was from the "ruling family.... http://www.novinite.com/view_news.php?id=119933 119933 Finance Wed, 08 Sep 2010 12:40:59 +0200 Bulgaria's gross domestic product (GDP) shrank 1.4% year-on-year in the second quarter, slightly milder that the 1.5% drop forecast by a flash estimate, the statistics office said on Wednesday. ... http://www.novinite.com/view_news.php?id=119930 119930 Business Wed, 08 Sep 2010 11:00:31 +0200 Bulgaria’s economy minister has criticized an Abu Dhabi company interested in investing in a Formula 1 racetrack near Sofia after the scandal over the deal tarnished the image of his department. “The investors acted without much integrity and I already have my doubts about their intentions,” Minister Traicho Traikov told the morning broadcast of private TV channel bTV on Wednesday. Bulgaria's Formula 1-gate emerged last week after the Economy Minister Traicho Traikov and the Chair of the Emirates Associated Business Group (EABG) Mohammed Abdul Jalil al Blouki signed in Sofia a letter of intent, under which the Abu Dhabi company declared interest in infrastructure projects in Bulgaria, including the possible construction of a Formula 1 circuit at Dobroslavtsi near Sofia. ... http://www.novinite.com/view_news.php?id=119929 119929 Energy Wed, 08 Sep 2010 10:17:50 +0200 Bulgaria's finance ministry has denied their representatives are expected in Moscow on September 8 for talks on the construction of the Burgas-Alexandroupolis oil pipeline. “The economic plan for the construction of the pipeline will be presented in Moscow on Wednesday,” a representative of the project company Trans-Balkan Pipeline (TBP) told Dnevnik daily over the phone. Asked for comment, representatives of the finance ministry, which is in charge of the project, said they know nothing about the negotiations in Moscow and will duly inform the media if “something happens”. ... http://www.novinite.com/view_news.php?id=119923 119923 Finance Wed, 08 Sep 2010 07:24:14 +0200 Bulgaria's parliament will debate on Wednesday a bill, which provides for the introduction of a 2% tax on insurance premiums and was moved by the government earlier this year in a bid to boost revenues to the budget. The parliamentary economic commission approved in the middle of June the bill, which is scheduled to come into effect on September 1 and is expected to hike insurance policies prices by at least 2%. Members of the right and left-wing opposition have slammed the proposal, saying that the poor collection of revenues should not be a reason for the introduction of a new tax, which does not guarantee the flow of more revenues into the budget and will burden the clients, not the business. ... http://www.novinite.com/view_news.php?id=119916 119916 Tourism Tue, 07 Sep 2010 19:42:32 +0200 Russian Investment funds show increased and growing interest in Bulgarian SPA centers both on the Black Sea coast and inside the country. The information was reported by the Bulgarian National Radio (BNR) Tuesday, citing the President of the Bulgarian branch of the international real estate federation FIABCI, who said Russian investors are inquiring about possibility to purchase entire complexes at once. According to the President, this a a new trend to replace individual private Russian interests in Bulgaria's tourist sector.... http://www.novinite.com/view_news.php?id=119915 119915 Business Tue, 07 Sep 2010 19:31:30 +0200 The international trains traveling between Bulgaria and Greece will be canceled on September 8-9 because of a strike in Greece on those dates. Bulgaria's state railway company BDZ announced that the two daily trains running between the Bulgarian capital Sofia and the Greek city of Thessaloniki will run only in the section between Sofia and the Kulata border crossing point. The passengers who decide to take these trains will be transported by bus between Kulata and Thessaloniki. ... http://www.novinite.com/view_news.php?id=119911 119911 Finance Tue, 07 Sep 2010 18:30:51 +0200 Bulgaria will have a budget deficit of 2.5% in 2011, and will bring it under 1% in 2013, according to Deputy Finance Minister Vladislav Goranov. Speaking at a public discussion forum dedicated to the role of the political right in dealing with the economic crisis, Goranov declared that the Borisov Cabinet is succeeding in keeping down the budget deficit. ...