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Bulgaria

Bulgaria to Table Bill of Amendments in Energy Sector

New regulations will be drafted when caretaker government leaves office.

May 23, 2013

Joint Nabucco-Declaration Signed by Governments

Austria, Hungary, Romania, Bulgaria, Turkey adopt Nabucco joint declaration.

May 22, 2013

Bulgaria’s Election Winner To Annul Results

GERB party, winner of the early presidential elections in Bulgaria, announced to file a lawsuit before the Constitutional Court.

May 16, 2013

Prolongation of Nabucco Exemption Confirmed

National Regulators Confirm Prolongation of Nabucco Exemption

May 14, 2013

Bulgaria: CEZ to Keep License

Former PM Borisov had been critical of CEZ in Bulgaria. Energy Minister Vasilev annouced the power supplier would not lose its license.

May 13, 2013

No Changes in Bulgarian Political Landscape

At the early elections in Bulgaria, Prime Minister Borissov’s Gerb party turns out winner in the early elections.

May 13, 2013

CEESE: Economic Growth Stagnant

Orban claims Hungary is the country with the highest growth rate in CEE/CESEE next year.

May 10, 2013

Real Estate Industry: Major Losses for Properties In CESEE

According to Manfred Wiltschnigg, CEO of Austrian Real Estate Agency Immofinanz until the end of March, investments in Poland are becoming more risky.

May 6, 2013

Romania: Confident About Economic Recovery

According to a survey, Romanians are among the most confident citizens in Europe about the recovery of their economy.

May 2, 2013

Austria: EVN Results Expected to Be Below Estimates

EVN specifies expected consolidated Group net profit as of 09/30/2013

May 2, 2013

EU Ready to Adopt Measures Over CEZ in Bulgaria

Van Rompuy promised to take actions during his visit in Prague.

April 29, 2013

Bulgaria: Sofia As Most Affordable Tourist Destination

Huffington Post has nominated Bulgarian capital Sofia to be the most affordable tourist destination in Europe.

April 24, 2013

Bank Austria: Focus on Major Clients in CESEE

In an interview with Austrian newspaper Standard, Head of CESEE division of Bank Austria, Gianni Papa, explains why the banking institute wants to focus on its core market.

April 18, 2013

Bulgaria: FDI Increased by € 40.3m

Largest investments from Greece (€ 9.4m). Austria ranks 4th (€ 6.1m) in investors.

April 18, 2013

Poland: Favorable Forecast Despite of Recession in 2013

Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.

April 17, 2013

Bulgaria: New Coca-Cola Headquarters in Sofia

The world’s largest soft drink producer Coca-Cola is to relocate one of its competence centers from Belgium to Bulgaria.

April 15, 2013

EU Examines Bulgarian Electricy Market

On request of the Bulgarian Government, an expert group will examine the prices for electricity after the protests. Another issue is the independence of the energy regulator.

April 12, 2013

Bulgaria: Commission Forcasts Economic Imbalances until 2015

EU Commission: Trend of reducing imbalances in Bulgarian economy is confirmed

April 11, 2013

Fitch: Poland Best Placed For Economic Recovery

In a statement regarding a report on the need of structural reforms in the CESEE region, rating agency Fitch awarded Poland the best position for an economic recovery among five countries.

April 9, 2013

Law Files Against Bulgaria from EVN and CEZ.

Power Suppliers EVN, CEZ and Energo Pro have to face high losses. CEZ announced to file a law against Bulgaria as well.

April 3, 2013

Bulgaria: Budget Deficit Amounting to BGN 732.0m

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-February 2013 is negative, amounting to BGN 732.0 million.

April 2, 2013

Bulgaria: Labor Hour Costs Increased 5.1 % in Q4 2012

Preliminary data of NSI for the Fourth Quarter of 2012 indicated that the total hourly labour cost rose by 5.1% compared to the Fourth Quarter of 2011.

March 30, 2013

EVN to Get Support by State Secretary

State Secretary Lopatka intervened in EVN’s dispute with Bulgarian government. He urges Bulgaria to ensure protection of investments.

March 29, 2013

"Croatia Will Not Benefit From Joining The EU"

Croatia will join the European Union as the 28th member state in a few months. Economists criticize the country for not carrying out enough reforms and only focusing on tourism.

March 22, 2013

EVN to Start Arbitration Procedure

Today, Austrian power supply company EVN informed the state of Bulgaria about opening arbitration proceedings.

March 19, 2013

Future of the EU Requires Solidarity And Integration

The EU has declared the year 2013 to be the “year of citizens”. The citizens of the EU should become aware of their European identity and their rights that come along with it.

March 15, 2013

Eurozone: Cut in Interest Rate Not Necessary

According to govenor of the Austrian National Bank an interest rate cut to improve the economic situation in the eurozone is not required at the moment. UKIP Leader Farage criticizes politicians for denying problems in eurozone.

March 14, 2013

Bulgaria: Caretaker Government Announced

Three weeks after the stepping down of Bulgaria’s right-of-center government, President Rosen Plevneliev put together an interim government.

March 12, 2013

Bulgaria: Latest Protests Against Privatizing of Railway

Protesters in three cities gathered to demonstrate against the privatization of the freight division of the Bulgarian state railroads (BDZ).

March 12, 2013

Bulgarian Foreign Trade with EU decreased by 3.6 %

Exports decreased by 3.6 % while imports increased by 7.5%

March 12, 2013

S Immo AG: New Contracts in Bucharest and Sofia

New tenants in Serdika/Sofia and Sun Offices/Bucharest. Stock exchange listed S IMMO AG has again achieved letting successes in Romania and Bulgaria – two markets that continue to be economically challenging.

March 12, 2013

Bulgaria: EVN Under Surveillance

While the Austrian power supplier EVN is currently kept under surveillance of the Bulgarian judiciary and government, protests by the citizens all over the country continue.

March 11, 2013

Bulgaria: „Eagle’s Bridge“-Protests Start Today

Other meetings of protest representatives are taking place in Gabrov today to elect a committee for further negotiations with government.

March 9, 2013

Bulgaria/Romania: Schengen-Entry Postponed

The two countries will not become part of the Schengen-zone in 2013. EU interior ministers meet to discuss problem of “social tourism”.

March 7, 2013

Bulgaria: Still Fighting Minimal Growth and Weak Economy

The Balkan country has the lowest living standards in the EU and the population’s frustration over its failure to improve the economic situation led to mass protests.

March 6, 2013

Bulgaria: Electricity Rate to be Reduced by 7 %

Experts still fear that the reduction in electricity prices will not help stopping protests.

March 6, 2013

Bulgaria: Protests About to Escalate

The political frustration of Bulgaria’s population comes to new high as the promised reduction of energy prices stays out.

March 5, 2013

Bulgaria: Eagles Briges Civic Association To Be Found in Sofia

Protesters are gathering in the Arena Armeets Hall to differentiate their pleas.

March 4, 2013

Romania/Bulgaria: Germany Plans Veto against Schengen Entry

According to the journal “Spiegel”, the German government does not regard the two countries as Schengen-worthy.

March 4, 2013

Bulgaria: Budget Balance Negative

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-January 2013 is negative, amounting to BGN 536.5 million.

March 4, 2013

Bulgaria „Protests are Useless“

In an interview with the Austrian daily newspaper „Standard“, Bulgarian author Ilija Trojanov explains why the situation in Bulgaria is rather hopeless.

March 1, 2013

Bulgaria: Stop of Constructing Nuclear Power Plant in Belene

Together with Russia, Bulgaria stopped the controversial construction of a nuclear power plant in Belene close to the Danube.

March 1, 2013

Bulgaria: Economy to Stabilize

Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.

February 28, 2013

Bulgaria: Protestors Want Radical Reforms

The atmosphere in the poorest EU country remains tense. The citizens want a new constitution.

February 28, 2013

EVN Suffers from Business in Bulgaria

In the first quarter of its business year 2012/13, the Austrian energy group recorded a decrease in net income. Outlook 2012/13: results from operating activities and Group net profit are expected to be below the prior-year level

February 28, 2013

CEZ: Czech Republic Calls Brussels for Help

After the Czech energy group CEZ has lost its license in Bulgaria, the Czech government wants Brussels to put pressure on Sofia.

February 25, 2013

Bulgaria: Protests Continue in Sofia and Varna

Bulgarian political decisions are afflicted by extreme unpopularity as almost 60 % of the population suffers from immediate poverty. Riots continue in Sofia and Varna.

February 24, 2013

Situation in Bulgaria Remains Tense

After the resignation of the Bulgarian government, the political atmosphere is at a tipping point. The protests continue and are broadening.

February 21, 2013

Bulgarian Government Resigns

This step came as a surprise. Before, Prime Minister Boyko Borisov rejected to step down. In April, the country will hold new elections.

February 20, 2013

Bulgaria Cuts Energy Prices

After heavy citizens´ protests, the Bulgarian government has lowered the energy prices by 8%. Moreover, the Czech energy group CEZ loses its license.

February 19, 2013
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