Bulgarians Join Balkan Protest Against Soaring Food Prices
Bulgaria has joined Croatia, Bosnia and Herzegovina, and Montenegro in organizing protests against rising food prices
Bulgarian lender Corporate Commercial Bank and Russian peer VTB Capital will seek to acquire a 73% stake in debt-ridden Bulgarian telco Vivacom, the company said.
Senior creditors, which include RBS, Deutsche Bank, UBS and Unicredit among others will keep 21%. The remaining six percent is to be floated on the Bulgarian Stock Exchange.
Creditors of Bulgaria's telecoms operator Vivacom will meet in the English High Court on Aug. 30 to hammer out a restructuring deal for Russian and Bulgarian banks to take over the company, Vivacom said.
VTB Capital, a unit of Russia's second biggest lender VTB Bank and Bulgarian Corporate Commercial Bank agreed to buy Vivacom, the trade name of Bulgarian Telecommunication Company (BTC), earlier this week.
Meetings with the creditors of Vivacom, whose debts amount to EUR 1.7 B will take place on Aug. 30, and a hearing of the English court is expected on Sept 6 to consider approval of the restructuring plans, Vivacom said.
Under the plans for Vivacom, the two banks will invest EUR 130 M which will be used to partially repay the company's debt in exchange of 73% stake in Vivacom, the third largest mobile operator in Bulgaria after Telekom Austria 's Mobiltel and Greek OTE's Globul.
In 2024, labor inspectors in Bulgaria carried out a total of 6,682 inspections in the construction sector, representing 13% of the overall 49,858 inspections conducted across all industries
According to a study presented to MPs by Prof. Emilia Chengelova, from the Institute of Philosophy and Sociology at the Bulgarian Academy of Sciences, the shadow (grey/informal) economy in Bulgaria remains high at 33%
A recent survey by digital payments company Visa reveals that most Bulgarians planning a winter vacation prefer to pay digitally at ski resorts
the last quarter of 2024, the proportion of properties purchased with mortgage loans in Bulgaria grew to 27%, or roughly every third property
Bulgaria's labor market remained stagnant throughout 2024
Retail sales across the European Union showed a decline in December, with both the eurozone and the EU reporting decreases
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