Sun, Nov 22 2009

Bulgarian Prime Minister Boiko Borissov said on August 19 2009 that he would order an immediate check-up of the major fuel retailers operating on the market including Shell, OMV, Eko and Lukoil.
Rise of more than two per cent ascribed to trends on international markets, affected by governments’ and central banks’ measures against the global financial and economic crisis.
Bulgarian biofuel producers have threatened to file a lawsuit against the Customs Agency after the agency said that it would impose an excise on pure biofuel products starting from October, the National Biofuels Association in Bulgaria has said. Deputy Finance Minister Kiril Zhelev said in mid-October that biofuel producers will have to pay excise duties until the European Commission issues a ruling saying that the tax incentive is not illegal state aid. Bulgarian authorities have not submittted such a request over complications in calculating the costs of fossile fuels in the country, which is part of the package that has to be submitted to the EC.
Bulgarian biofuel manufacturers blamed the number of suspended projects and the lack of market for their product on the Government and its aversion to incentive, Dnevnik daily reports. The remarks were made at a round table, held on March 25, organised by the National Biofuels Association. Most hardships experienced in the sector stem from legislative failures, according to producers. They added that the
Spanish company Coener Group plans to invest more than 60 million euro in a complex to produce biofuel from industrial crops in the region of Pleven, in northern Bulgaria. Coener's executive director Alejandro Lopez has already met with Pleven regional governor Tsvetko Tsvetkov to discuss details of the planned investment, the local administration said.
Bulgarian producers of biofuel were being levied with excise duty in violation of the Act on Excise Duty and Tax Warehouses (AEDTW), Dimitar Minchev, manager of the firm Bulmarket said during a conference on the South-East European market of biofuel, as quoted by investor.bg on October 23. AEDTW stipulated that biodiesel and bioethanol produced in Bulgaria were subject to zero excise duty
Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.
Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector
Kremikovtzi’s prospects for a recovery plan appear increasingly distant
Bulgarians are getting the hang of debit and credit cards, MasterCard says
The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.