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Macedonia offers olive branch to Bulgaria

Macedonia offers olive branch to Bulgaria

Nov 20 2009 17:51 CET by Alex Bivol 2 comments

Under pressure from Brussels on the name issue dispute with Greece, Skopje seeks to re-build relationship with with Sofia.

Bulgarian MPs resurrect proposal to raise spirits excise

Bulgarian MPs resurrect proposal to raise spirits excise

Nov 20 2009 15:58 CET by Alex Bivol

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.

Renewed bank re-assurances for Romania despite stalled bailout-mandated reforms

Renewed bank re-assurances for Romania despite stalled bailout-mandated reforms

Nov 19 2009 15:48 CET by Alex Bivol

The IMF has withdrawn its mission, which was due to assess Romania's compliance with the terms of the bailout, and now expects Romania to miss the fiscal deficit target set by the bailout agreement.

Bulgarian telecom Spectrum Net acquires local peer Orbitel

Bulgarian telecom Spectrum Net acquires local peer Orbitel

Nov 17 2009 14:49 CET by Alex Bivol

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.

Bulgaria Finance Ministry refutes reported fiscal reserve plan

Bulgaria Finance Ministry refutes reported fiscal reserve plan

Nov 16 2009 15:42 CET by Alex Bivol

Bulgaria's Finance Ministry said on November 16 that a Financial Times report about the Cabinet's intention to deposit fiscal reserve funds in commercial banks was erroneous.

Bulgaria to deposit portion of fiscal reserve with banks - report

Bulgaria to deposit portion of fiscal reserve with banks - report

Nov 16 2009 12:51 CET by Alex Bivol

About one billion leva, or 12 per cent of the fiscal reserve, would be deposited with Bulgarian units of foreign-owned banks, Finance Minister Simeon Dyankov told Financial Times.

Bulgaria recession deepens to 5.8% in Q3 - official estimate

Bulgaria recession deepens to 5.8% in Q3 - official estimate

Nov 13 2009 13:13 CET by Alex Bivol 2 comments

Bulgaria's economy shrank by a real 5.8 per cent year-on-year in the third quarter of 2009 and 4.8 per cent year-on-year for the first nine months of the year

Man of war

Man of war

Nov 13 2009 10:00 CET by Alex Bivol 2 comments

As presidential elections in Romania draw nearer, president Traian Basescu is happy to see the political deadlock continue

Mobile operator Mobiltel reports 11.9% drop in revenues Q3

Mobile operator Mobiltel reports 11.9% drop in revenues Q3

Nov 12 2009 16:22 CET by Alex Bivol

The drop was "mainly due to lower subscription and traffic revenues as well as lower revenues for roaming and interconnection" following regulatory changes, parent company Telekom Austria said.

Bulgaria CPI up by 0.1% in October

Bulgaria CPI up by 0.1% in October

Nov 12 2009 13:07 CET by Alex Bivol

Bulgaria's consumer price index (CPI) increased by 0.1 per cent in October, the first rise in six months, National Statistical Institute data showed on November 12.

Bulgarian think-tank's alternative Budget proposes more sweeping reforms, spending cuts

Bulgarian think-tank's alternative Budget proposes more sweeping reforms, spending cuts

Nov 11 2009 15:21 CET by Alex Bivol 1 comment

Bulgaria's public administration was too big and inefficient, creating obstacles in the way of economic growth, job creation and general prosperity, think-tank says.

Former state railways executive indicted in mismanagement case

Former state railways executive indicted in mismanagement case

Nov 09 2009 17:07 CET by Alex Bivol 3 comments

Monov, who was sacked from BDZ in October, is accused of deliberately signing a deal that caused 10 million euro in damages to state coffers.

By the numbers

By the numbers

Nov 06 2009 10:00 CET by Alex Bivol

The new Cabinet’s first Budget bill is much-scaled back compared to the bloated 2009 Budget

Looking back in anger

Looking back in anger

Nov 06 2009 10:00 CET by Alex Bivol 3 comments

Government’s ‘difficult inheritance’ dominates Boiko Borissov’s discourse on reaching 100 days mark

Plotting the course

Plotting the course

Nov 06 2009 10:00 CET by Alex Bivol

After 100 days in office, Finance Minister Simeon Dyankov pinpoints 10 key issues for Cabinet in ‘the next 100 days’

Macro: Living in the past

Nov 06 2009 09:59 CET by Alex Bivol

Inasmuch as some Bulgarian officials are concerned, the credit crunch and the economic recession might as well have never happened.

Magic worlds

Magic worlds

Nov 06 2009 09:59 CET by Alex Bivol

Tucked away in one of the dingy dead-ends just off Slaveikov Square in Sofia, Magic Worlds is overshadowed both by the shiny glass displays on Graf Ignatiev Boulevard and the Luciano pub right next door.

Bulgaria Finance Minister outlines Cabinet priorities for 'next 100 days'

Bulgaria Finance Minister outlines Cabinet priorities for 'next 100 days'

Nov 03 2009 17:33 CET by Alex Bivol

One hundred days into the term of Boiko Borissov's Cabinet, Deputy Prime Minister and Finance Minister Simeon Dyankov pinpointed 10 areas that the Government would focus on in "the next 100 days".

Bulgarian PM defends Cabinet's record after 100 days in office

Bulgarian PM defends Cabinet's record after 100 days in office

Nov 03 2009 16:28 CET by Alex Bivol

Prime Minister Boiko Borissov praises Cabinet's early achievements, spares no criticism for predecessors.

EBRD: Eastern Europe better off despite crisis

EBRD: Eastern Europe better off despite crisis

Nov 02 2009 14:00 CET by Alex Bivol 1 comment

Further financial integration crucial for Eastern Europe's, despite the role of closer ties in current crisis, lender says

Bulgaria Finance Minister alleges secret fiscal reserve deal

Bulgaria Finance Minister alleges secret fiscal reserve deal

Oct 30 2009 17:23 CET by Alex Bivol

Secret agreement between Finance Ministry and central bank put the country's reserve at risk, Finance Minister says.

Fitch Ratings forecasts slow growth for Bulgaria's economy in 2010

Fitch Ratings forecasts slow growth for Bulgaria's economy in 2010

Oct 30 2009 13:52 CET by Alex Bivol

After shrinking by 5.5 per cent this year, Bulgaria's economy will rebound to post 0.5 per cent growth in 2010 and 3.5 per cent in 2011, Fitch says.

Death knell?

Death knell?

Oct 30 2009 10:00 CET by Alex Bivol

Are Bulgaria’s three major energy projects with Russia about to be scrapped?

Archaeology’s losing fight

Archaeology’s losing fight

Oct 30 2009 10:00 CET by Alex Bivol

Bulgaria’s Cultural Heritage Act, meant to finally replace a four-decades-old law, proved to be a compromise that satisfied no one

EC pursues infringement procedures against Bulgaria in law firms dispute

EC pursues infringement procedures against Bulgaria in law firms dispute

Oct 29 2009 15:51 CET by Alex Bivol

European Commission says Bulgaria's regulations infringe on free movement of services provided by lawyers and law firms

Moldova offered $588M IMF lifeline

Moldova offered $588M IMF lifeline

Oct 29 2009 13:52 CET by Alex Bivol

The International Monetary Fund (IMF) said on October 28 that it reached a "staff-level agreement" to lend Moldova the equivalent of $588 million over a period of three years.

Russia's Rosatom still interested in Belene - report

Russia's Rosatom still interested in Belene - report

Oct 29 2009 13:02 CET by Alex Bivol 2 comments

Russian corporation unfazed by RWE's decision to pull out of Belene and the expected 12 to 18 months delay in the project, Vedomosti daily says.

Raiffesenbank Bulgaria fined 5.58M leva for misleading ads

Raiffesenbank Bulgaria fined 5.58M leva for misleading ads

Oct 26 2009 13:46 CET by Alex Bivol 1 comment

Bulgaria's competition watchdog said on October 26 that it fined Raiffeisenbank Bulgaria 5.58 million leva for misleading advertising of loan terms.

Russia seeks Bulgarian re-assurance on Belene nuke

Russia seeks Bulgarian re-assurance on Belene nuke

Oct 23 2009 15:09 CET by Alex Bivol

Russian officials have once again asked Bulgaria to make a decision on the future of the planned nuclear plant at Belene, Bulgaria's Economy and Energy Minister Traicho Traikov said

Moldovan machinations

Moldovan machinations

Oct 23 2009 10:00 CET by Alex Bivol 1 comment

Moldova’s pro-Western government still faces obstacles to a presidential election

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