Mon, May 21 2012
A billion euro is to be invested in road construction and reconstruction in Bulgaria over the next six years. By 2013 as much again will be invested in Bulgaria's transport infrastructure.
This was announced on August 6 when Prime Minister Sergei Stanishev and Transport Minister Petar Moutafchiev inspected the construction of a railway connecting Plovdiv and Svilengrad.
More than 989 million euro of the transport programme subsidy will be spent on road construction and reconstruction. About 580 million euro will go for railroad infrastructure. A separate 158 million euro will be spent on improvement of water transport. The transport programme is one of the seven Bulgarian operational programmes that use EU funds. It has the biggest budget.
During Stanishev's and Moutafchiev's visit to Sadovo railway station, they inspected progress on the first phase of the reconstruction of the Plovdiv-Svilengrad railway.
The route connects Plovdiv with the Turkish and Greek borders through Svilengrad. When the upgrade of the track is completed, trains will be able to travel at up to 160 km/h, making the trip much faster. The first part of the track, Kroumovo-Purvomai, is 37km long and is currently under construction. The remaining two sections are Purvomai-Svilengrad and Svilengrad-the Turkish and Greek borders.
The entire project is worth 340 million euro, of which 152 million euro is direct financial aid from the Ispa programme, 150 million euro is a loan from the European Investment Bank, and 37 million euro is being provided by the state. As part of the first phase of the project, three bridges, nine overhead crossings, one overpass, and eight underpasses are being completed.
Next year the construction of a highway from Plovdiv to Asenovgrad, 10.5km long, will start. The project will cost eight million euro, said Veselin Georgiev, who runs the National Infrastructure Fund. The Sofia-Plovdiv first-class road will also be reconstructed in 2008.
Meanwhile, a progress report on Sofia's metro construction has emerged. On August 5, mayor Boiko Borissov said during an inspection tour that 450m of the current expansion phase of the subway were ready. Borissov said that construction of the new stations was about a year behind schedule, but a change in the technology being used to build the tunnels, as well as the employment of a new team of Taiwanese workers, should help speed up the process.
The executive director of Metropolitan municipal company, Stoyan Bratoev, said that tunnels, railways and part of the infrastructure for the section from St Nedelya church to Interpred had been completed. The station at Interpred had also been built. Construction is underway of the track leading to the Mladost residential area, where there will be three metro stations. The plan is for main construction work on this part of the extension to be completed by the end of this year and finishing works to be carried out in 2008.
Simultaneous works are going on for the Saharov Boulevard to Tsankov Boulevard section. Saharov in Mladost is expected to open this autumn, while the remaining section to Tsankov will be finished in 2008.
The agreement was signed in 2006 in Athens by the transport ministers of all nations involved in the international project - Albania, Macedonia, Greece, Croatia, Turkey, Moldova, Romania, Bosnia and Herzegovina, Montenegro and Serbia, with Bulgaria eventually confirming the treaty in April 2009.
The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.
The Eurostat data agency said that unemployment reached 10.9 per cent in March, up from 10.8 per cent in February. The March figure translates to 17.4 million people unemployed in the euro zone.
Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.
Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.
The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.