Bulgarian President Presents Bank of the Year 2009 Award
Bulgarian President Georgi Parvanov presented the Bank of the Year 2009 award to Levon Hampartzumyan, CEO of UniCredit Bulbank.
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Bulgarian President Georgi Parvanov presented the Bank of the Year 2009 award to Levon Hampartzumyan, CEO of UniCredit Bulbank.
Bulgaria has become the tenth-most risky sovereign borrower in the world with the probability of default standing at 22.8%, according to a study, compiled by data provider CMA.
UniCredit Bulbank is going to be dubbed Bank of the Year 2009, gettning the most prestigious award for banking and finance in Bulgaria.
Bulgaria's National Revenue Agency announced Sunday that it discovered that a concert promoter in Bulgaria failed to declare BGN 1.3 M of payments to foreign performers, which resulted in BGN 130,000 lost for the state budget.
The International Monetary Fund has agreed to grant to Romania the delayed fifth tranche of the bailout package for Bulgaria's northern neighbor.
Bulgaria's finance minister has denied reports that a removal of the flat tax rate may be looming after the government scrapped its plans for a VAT increase in a bid to plug a budget gap that has thwarted the new EU member's euro efforts.
Steve Hanke, a renowned economist, known best in Bulgaria as the architect of its currency board system, has said the country took the right decision by refusing to increase its VAT.
After having a positive monthly budget balance in April, in May 2010 Bulgaria is back to registering a monthly deficit, announced the Finance Ministry.
About 60-70% of the retailers and 80% of the small shops in Bulgaria have been hiding some or all of their turnover, the National Revenue Agency (NAP) has announced.
Bulgaria's EU neighbors Romania and Greece are formally increasing their VATs as of July 1, 2010, as part internationally-sanctioned measures to stabilize their state finances.
Bulgaria's income and corporate tax rates have seen the greatest decreases in the EU in the period 2000-2010, according to Eurostat data released Monday.
Bulgaria's finance minister has denied reports that a hike in the personal tax rate may be looming after the government scrapped its plans for a VAT increase in a bid to plug a budget gap that has thwarted the new EU member's euro efforts.
The World Bank is impressed with the fiscal discipline of the Bulgarian government, writes World Bank President Robert Zoellick in a letter to Prime Minister Boyko Borisov.
Bulgaria's government has adopted a bill, which provides for the introduction of 2% tax on insurance premiums.
Bulgaria's gross foreign debt fell by EUR 409.4 M (1.1%) on a monthly basis to EUR 36, 842 B at the end of April as bank lending slowed down, the central bank said on Monday.
Bulgaria’s non-performing and restructured loans have reached the record 14.62% of all loans, according to the Bulgarian National Bank.
Austrian Hypo Alpe Adria plans to withdraw from half of its markets, including Bulgaria, according to media reports.
Fitch Ratings downgraded by a notch BNP Paribas, which has been present in Bulgaria since 1994, citing "structural issues" linked to the French banking giant's business mix.
Finance Minister Simeon Djankov has presented to EU Economic Affairs Commissioner Olli Rehn latest data about the revision of Bulgaria's 2010 state budget as the EC is mulling setting the country under an excessive deficit procedure.
Bulgaria's right-wing Blue Coalition reiterated Monday warnings they will not back the cabinet's updated 2010 budget on second reading unless their demands are met.
Romanian media write Monday that Head of the IMF mission to Bulgaria and Romania, Bas Bakker had praised Bulgaria's success in fighting the economic crisis.
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