Bulgaria Pays Back To Japan $45.35 M 17/04/2008
Today, 15 April, an operation for pre-term acquittal of the rest of the debt under credit agreement between Bulgaria and the Japanese bank for international cooperation (JBIC) under FESAL II loan (Second loan for restructuring of the financial sector) which is worth JPY 4 579 678 746.00, including the due interests, was implemeted, informed the ministry of finance. According to today's exchange rate, the paid amount is around $45.35 M. The operation follows the made on 25 March 2008 pre-term acquittal of six loans towards the International bank for reconstruction and development, under one of which – FESAL II, JBIC participates as a co-funding institution, explain experts from the ministry. According to the loan agreement between the Bulgarian ministry of finance and the Japanese... more

British, Italians, Canadians And Germans Buy Property In Bulgarias Pleven Region 12/03/2008
British, Italians, Germans and Canadians have bought property in the Pleven region this summer. According to reports the interest of foreign property seekers in houses in the Danube Valley region is growing. Wealthier Bulgarians also bought real estate in the region, Bulgarian news agency BTA reported. A British family purchased big property in Kurtozhabene village, located close to Plovdiv. An Italian businessman invested nearly 70 000 euro in property in Brestovets village, BTA reported. Foreign investors purchased mainly in regions close to natural preserves. Agents sold more than 18 properties in the region close to Chernelka River. Bulgarian and foreign buyers also expressed interest in agriculture plots. In the past year 20 plots were sold in Kurtozhabene vilage.... more

The Project For Bulgarian Mega Power Plant maritsa-eastе Ready In Several Months 30/04/2008
The leadership of thermal power plant (TPP) AES – 3C “Maritsa East-1” presented today the built steel construction of Generator 1 of the plant near the Bulgarian town of Gulubovo. Official guests at the event were the economic minister Peter Dimitrov, the US ambassador to Bulgaria John Beyrle, informs the Economic portal of Stara Zagora. According to the plan, the plant with a power of 670 megawatts should start working in 2009 and will be the most environment-friendly one on the Balkans. Currently, however, there is a delay of 7 months which the investor promises to compensate. The tender procedure for an investor in the future 4th plant in the “Maritsa East” complex is also being delayed. We want whoever implements this project to have technological means to collect and store... more

Bulgaria - The Cheapest Tourism Destination In Europe 21/04/2008
Holidaymakers face a steep rise in the cost of trips to countries in the eurozone this summer, as they suffer the consequences of the plummeting pound. However, holidays elsewhere in Europe and in the US should offer better value for money, according to a study by the Post Office. The destinations that worked out cheapest overall were Thailand, South Africa and Egypt.  The cost of 10 holiday commodities compared by researchers, which included drinks and meals out, added up to Ј28.58 in Thailand, a little under a third of the cost of the same items in Australia and well under half the average price for the same goods in the eurozone. Bulgaria emerged as the cheapest European destination in the study. America was rated most expensive when the same research was carried out last year,... more

Bulgaria Named Fastest Riser On World's Property Market 19/03/2008
Property prices in Bulgaria rose faster than anywhere else in the world in 2007, according to a survey by a leading British estate agency. The European Union's newest member topped the latest Knight Frank Global Price Index with an annualised property price growth of 30.6 %. Bulgaria ranked three percentage points above the south-east Asian economic powerhouse of Singapore. "Despite numerous concerns over the level of oversupply in a number of locations within Bulgaria - notably the winter ski resort of Bansko and selected coastal resort locations - Bulgaria has supplanted the previously top performing Baltic hotspot at the top of the Knight Frank league," the report declared. Last year, the highest ranking country was Latvia, which saw property price growth of 56.9%. However,... more