Credit Crunch 'not Impacting On Tourism' 14/03/2008
The impact of the global credit crunch is not putting people off booking holidays abroad, new research has revealed. According to TNS Travel and Tourism, millions of leisure travellers from the UK are still preparing to make their annual trips abroad, reports Travel Weekly. This is despite people's finances being constrained by the slowdown in the worldwide economy, which has led to fears of a possible recession. Since one in five people said they plan to have more than two holidays this year, this suggests that consumers have made a trip abroad one of their financial priorities. Tom Costley of TNS commented: "This data highlights a number of trends that suggest the UK holiday market appears resilient in the face of the economic downturn." Countries along the Mediterranean... more

Plans For Underground Parking Lot Construction In Sofia 07/03/2008
Sofia municipality is planning to offer on concession the terrain below National Assembly Square. The terrain would be used for the construction of an underground parking lot, mediapool.bg reported. According to plan the plot would be given to a concessionaire for a 35-year period. A two-level parking lot would be constructed. Its capacity would be 203 vehicles. The potential investor would use own funds for the construction. The timeframe for completion of the construction works should not exceed two years.  Preliminary financial analysis shows the concessionaire would have to invest at least six million leva in the project. Analysts said that through parking fees, the investor would be able to return the initial investment in three years. A number of city councilors... more

Mall Construction In Bulgaria Halted Due To Bidding Procedure Disorder 12/03/2008
Stara Zagora’s municipal council will stop the sale of a 9260 sq m area, where a 70 million leva trade centre had to be set up. A tender violation stands behind the decision. The municipality launched a tender to sell the lot in 2005. Two companies, local Agrosun and German Kaufland took part in the procedure, Dnevnik daily said. Agrosun’s offer was higher, but was excluded from the procedure because of a sign ‘offer’ on the envelope. A third company, Spanish Commercia Bulgaria, won the tender after an extension of the deadline. Agrosun appealed the municipal decision and won, Dnevnik said. The court decided that Stara Zagora’s municipal council had to select a winner between Agrosun and Kaufland. The German company had already withdrawn its offer and Agrosun remained the... more