Hotels At Bulgarias Black Sea Coast Left Unsold 10/03/2008
Investors in Bulgaria’s coastal regions are failing to find buyers for their newly-built hotels. Nearly 30 new hotels were offered for sale over the past year, 24 Chassa daily reported. Only 250 hotels were on sale in southern coastal regions. The hotels are being sold in all stages of construction. The average price is 856 euro a sq m. Most of the hotels for sale were in the resorts of Sveti Vlas (St Vlas), Slunchev Bryag (Sunny Beach) and Chernomorets. Experts said that there was a lack of buyers in these resorts, because the most tourists there were foreigners, who preferred buying apartments in complexes, instead of staying in hotels. The biggest demand for hotels was in Slunchev Bryag, Nessebar and Primorsko, 24 Chassa said. To the north, the highest supply... more

More Highly Skilled Brits Moving To Live Abroad 18/03/2008
Has Britain lost its greatness, has the unity been lost from this United Kingdom of ours, or is it simply a fact that the government is taxing us harder and that we’re being forced to work longer hours for less – less money, less job security and less personal freedom? Because something, somewhere in this nation of ours has gone very seriously wrong indeed. According to the Organisation of Economic Co-operation and Development, (OECD), the number of Britons relocating overseas has soared to record highs not seen for fifty years.  And what’s even more significant about the OECD findings is that more highly skilled Brits are moving to live abroad creating something of a brain drain and a gulf in terms of the numbers of qualified individuals available in Britain to fill key medical,... more

Loan History Matters In Bulgaria 19/03/2008
Entry to the EuropeanUnion has reverberated across a number of sectors. However, it has hada limited impact on a phenomenon that has persisted throughout the pastfew years. Fast expansion in the loans market has seen Bulgaria’s loanexposure reach the levels of the rest of Europe, a recent report said.Yet it also said that Bulgarians have half the income other Europeansdo, which immediately casts doubt on the ability of Bulgarians to repaytheir loans. In addition, banks’ portfolios have become too dependenton loans, the average percentage in commercial banks’ assets being, atabout 70 per cent, past the tentative ceiling of 50 per cent. Thesituation prompted Bulgarian National Bank (BNB) to raise the share ofmandatory reserves commercial banks hold with the central bank fromeight to 12... more