Inner London Eus Richest Region, Poorest In Bulgaria, Romania And Poland 14/03/2008
The EU's richest people live in Inner London, while the poorest live in Bulgaria, Romania and Poland, the Daily Telegraph reports, quoting Eurostat latest research. The three leading regions (figures are based on 271 regions' GDP in EU 27 countries) in the ranking of regional GDP per inhabitant in 2005 were Inner London (303 per cent of the average), the Grand Duchy of Luxembourg (264 per cent) and Brussels (241 per cent), the Daily Telegraph reports. The fifteen lowest regions in the rankings were all in Bulgaria, Poland and Romania, with the lowest figures recorded in the North-East of Romania (24 per cent of the average), followed by Severozapaden and Yuzhen tsentralen in Bulgaria (both 27 per cent). Among the 69 regions below the 75 per cent level, fifteen were in Poland,... more

Credit Squeeze Wrecks Trakia Highway Deal 15/03/2008
The global credit crunch may yet spoil the Trakia highway transaction, Standart daily reports. The Bulgarian-Portugal consortium, Trakia Highway Jsc, which was named as the highway concessionaire by the previous government, has experienced difficulty in securing finance for the infrastructure project. "I will ask concessionaries whether they have negotiated the loan necessary to bankroll the project within two weeks," said the regional development minister Assen Gagauzov, who signed a second annex to the highway contract on January 16, giving the consortium a 120-day period to find the resources for finishing the Sofia-Bourgas thoroughfare. Rumoured possible lenders include the Portuguese bank Espirito Santo, Switzerland-based Credit Suisse First Boston bank or the Swiss UBS. more

Bulgaria | Purchase Process 18/03/2008
Bulgaria: Purchase Process Below is the standard purchase process in Bulgaria and issues that may affect that purchase:     * As a non-Bulgarian national is currently not permitted to own land in Bulgaria, it is still necessary to form a Bulgarian limited company that can own land.     * The preliminary contract of sale will be drawn up by the purchaser's chosen lawyer, at which stage the purchaser will be expected to lodge a 10% deposit.     * The purchaser's lawyer will conduct the necessary checks on title documents, licenses and permissions, debts on title, and terms of contract.     * The purchaser must pay the balance of the purchase price as well as land tax and the relevant fees, amounting to around 5% of the purchase price. On payment of these costs, the property... more