UAE Mediates New Exchange of 350 War Captives Between Russia and Ukraine
The United Arab Emirates (UAE) has announced the successful mediation of a new exchange of war captives between Russia and Ukraine, involving a total of 350 individuals
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.
The scandal erupted at first when the press center of the Economy Ministry reported incorrect information about the EABG Chair (styling him the Sheikh of Abu Dhabi) Mohammed Abdul Jalil al Blouki and the agreement itself.
“The whole situation turned hysterical. I represent a state institution and every investor has to prove the seriousness of its intentions,” the minister said.
He slammed the Abu Dhabi company for refuting the information in the ministry press release by sending an e-mail to a local newspaper.
“Serious investors don’t send letter to newspapers. If the economy ministry press release contained mistakes, the question is whether this apparently serious investor has not discredited himself.”
The minister promised cooperation for the project, but called on the Abu Dhabi company to clean the stain from its reputation.
According to him the project can be implemented, only if the investors vow to fund it, while the state find it profitable and join as a partner.
The Bulgarian capital welcomed senior representatives of the Australian Business in Europe (ABIE) network for a two-day high-level programme
According to the European Commission's Spring 2025 Economic Forecast, Bulgaria’s economy is projected to grow at a slower pace
Economist Georgi Stoev has launched a personal awareness campaign on social media to address concerns about the euro introduction in Bulgaria
Ukrainian Railways (Укрзалізниця), the state-owned railway company of Ukraine, has secured a deal to acquire 10 battery-powered locomotives from the Bulgarian manufacturer Express Service
Bulgaria’s transition to the euro raises many questions about how loans and payments will be handled
Westinghouse Electric Company has strengthened its Bulgarian supply chain for the Kozloduy AP1000® project, signing memoranda of understanding with seven Bulgarian companie
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase