Bulgarias Economy Grows More Vulnerable Coface 01/04/2008
French-based leading credit management firm Coface put Bulgaria in its list of countries under surveillance due to the increasing amount of business risk, the credit insurance agency said in a statement on March 30. Coface also downgraded its country risk rating from "A4", which it assigned in January last year, to "A4-". Coface’s rankings, encompassing 165 countries across the world, reflect the trends in three main directions - business climate, economic and financial perspectives, as well as firm policy regarding payments. The countries are classified in seven risk levels: А1, А2, А3, А4, В, С and D, moving from the safest towards the riskiest end of the gauge. Rising current account deficit has rendered Bulgarian economy highly dependent on foreign investments and has raised the... more

Kissing Marathon To Stop Black Sea Construction In Irakli 14/03/2008
Locals and environmentalists expressed their hope that love can save Irakli by sending good wishes to the authorities and constructors working on the virgin beach. The protesters decided that even though the authorities could not stop construction, they would try to use positive emotions instead of aggression. more

Equest To Invest 40 M Euro In Ancient Town Construction In Bulgarias Sozopol 12/03/2008
Immofinance, part of the UK investment fund Equest, has launched the construction of a resort village two km to the south of the coastal town of Sozopol. The company will invest 40 million euro in the project, called Sozopolis, 24 Chassa daily reported. Sozopolis will span nearly 90 000 sq m, but the gross build up area will be only 34 000 sq m. Low buildings, green areas and a 1500 sq m spa centre with mineral water pools will feature in the complex. The village would be replica of the old Sozopol, with 80 houses, 52 apartments, cobblestone roads, bazaar with cafй, shops and two restaurants, 24 Chassa said. A church and wind mill will also be constructed. Some of the houses will have swimming pools and jacuzzis. The detached houses will each be 365 sq m, with 800... more