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Bulgaria

Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing

Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.

March 17, 2012

Raiffeisen Energy & Environment Sells Bulgarian Assets

The subsidiary of the Austrian Raiffeisen Leasing sells Bulgarian wind parks to Lukerg Renew.

March 14, 2012

Austria and Bulgaria Clear Way for Business-Friendly Climate

Business representatives from Austria and Bulgaria agreed upon a business-friendly climate and clear rules at a Sofia forum,

March 8, 2012

EVN to Delist Bulgaria Units

Austria's EVN AG plans to delist its two units in Bulgaria just two months after the trade with their shares started on the local stock exchange.

March 7, 2012

EVN: Rise in Sales, Decline in Profits Expected

The Austrian energy company will publish its results for the first quarter on February 28. Earnings should rise, profits should fall, RCB estimates.

February 24, 2012

Baumax Faces Stagnation

The Austrian building center chain records declining sales in real terms in Austria. Growth rates are observed in Eastern Europe.

February 24, 2012

Nabucco Still Competes For Gas in Azerbaijan

The gas pipeline project, in which the Austrian oil company OMV is engaged, now enters the critical phase.

February 21, 2012

Massive Losses Expected for Telekom Austria

Loss expectations range from € 194.9m to € 238m. Sales are anticipated to decline by 4.4%.

February 17, 2012

Telekom Austria: No Expansion in Bulgaria

The Austrian telecommunication group is no longer interested in Vivacom. Problems with competition authorities would have occurred.

February 17, 2012

Bulgarian Vivacom: Telekom Austria Has Only Outside Chances

The second-largest Bulgarian telecommunication enterprise is for sale. Telekom Austria is still interested, in spite of dismal prospects.

February 14, 2012

AUA to Withdraw from Mumbai

Due to the increasing price pressure, Austrian Airlines has to focus on new markets. New target markets are Eastern Europe and the Middle East region.

February 13, 2012

Enso Hydro Looking for Hydro Power Plants in SEE

The Austrian hydro power specialist aims for collecting € 70m of Deutsche Bank´s subsidiary DWS. Currently, enso hydro searches for new hydro power projects.

February 1, 2012

3E Group Grows in Eastern Europe

The Austrian building material company´s revenues were up by 3.2% in 2011. Total sales reached € 546m.

January 30, 2012

Good Export Chances in SEE Region

The Austrian Chamber of Commerce regards South-Eastern Europe as growth region. Importance for the Austrian export industry is seen to increase.

January 28, 2012

Turkey Emphasizes Support for Nabucco

Besides the Russian South-Stream project, Turkey also shows support for Nabucco, where Austrian OMV is strongly engaged in.

January 21, 2012

Telekom Austrian Interested in Bulgarian Vivacom

The second-largest Bulgarian telecommunication enterprise is for sale. Telekom Austria has good prospects to become the buyer.

January 16, 2012

Uniqa: Strong Growth in Premium Income

The Austrian insurance company announced to have achieved 20% growth in Bulgaria.

January 16, 2012

EVN Raises Stake in Bulgarian Subsidiaries

The Austrian energy group acquired additional shares for € 45m in connection with the privatization process in Bulgaria.

December 21, 2011

Bulgaria Starts Sale of Share in EVN Bulgaria

The Bulgarian state withdraws from the Austrian energy company. 33% of the shares in EVN Bulgaria will be privatized.

December 13, 2011

Bulgarian Investment Opportunities Forum in Vienna

On 29 November, the Bulgarian Stock Exchange is hosting an event on the forthcoming privatization of Bulgaria’s energy distribution companies.

November 23, 2011

Austrian Wage Increases below European Average

Real incomes are expected to go up by 0.8% next year. The average rate for Europe will be 1.3%.

November 4, 2011

EU Calls for Opening of Labor Markets to Romanians and Bulgarians

The European Parliament wants a solution by the end of 2011 and does not see any negative effects on social welfare systems.

October 27, 2011

Negative Results for S&T

The Austrian IT service provider S&T had to report losses in the third quarter of 2011. Sales were below expectations.

October 22, 2011

Vienna Insurance Group Merges Bulgarian Subsidiaries

The Austrian insurance corporation intends to strengthen its market presence via the merger of Bulstrad and Bulgarski Imoti,

October 5, 2011

BP Plans Rival Project to OMV´s Nabucco

The British Petrol Corporation intends to open up new gas fields in the Caspian region. BP is thus a new competitor for the Austrian OMV.

September 27, 2011

No Common Trend for CEE-Countries

Regarding economic growth, prospects for CEE countries have worsened slightly. However, the region remains heterogeneous.

September 13, 2011

New Road Construction Project in Bulgaria for Alpine

Rehabilitation of 109 km of road - Contract value: € 20 m - 24-month construction period.

September 12, 2011

Borealis Doubles Profit and Expects Challenging Market Conditions

The Austrian chemical company delivered strong second quarter results despite a softening market environment.

August 11, 2011

EVN Expands in Bulgaria

The Austrian electricity company invested € 5m in the construction of a solar power station in Bulgaria and increased its stake in a joint venture project in the country.

July 21, 2011

Atrium Executes Settlement Agreement with Multi Investment

As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.

July 15, 2011

UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale

Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.

June 3, 2011

Wolf Theiss Identifies Opportunities in CEE Electricity Markets

Significant legislative changes particularly in Bulgaria and Romania, two of the most dynamic markets for RES-Electricity in the CEE/SEE region, have resulted in a dramatic increase in investor and other stakeholder interest in such projects.

May 3, 2011

SW Umwelttechnik Reports Satisfying Rise in Sales

Sales of the Austrian technology company were up by 12%. The company completed its first major export projects in Bulgaria and Moldova.

April 28, 2011

Shipping on the Danube is Far Below its Potential

Capacities are only being utilized in modest proportions on Austria’s main waterway. Investments in expansion would be necessary.

April 23, 2011

Bulgaria: EVN Thermal Power Plant Almost Completed

The project of the Lower Austrian energy company EVN in Bulgaria will go into operation still this year.

March 17, 2011

Leitl: "Austria Continues as Top Investor in Bulgaria"

Bulgarian President Parvanov for economic talks at the WKÖ: Foreign trade volume between Bulgaria and Austria amounts to € 900m.

March 9, 2011

Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.

March 3, 2011

Strong Growth for bauMax

The do-it-yourself group increased its sales in Austria and Eastern Europe in 2010.

February 18, 2011

Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.

February 4, 2011

Telekom Austria Announces Closing of Spectrum Net Takeover

The acquisition of the second Bulgarian fixed network provider will be completed within the next weeks.

January 28, 2011

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

Bank Austria: Growth Potential for Real Estate in Romania and Bulgaria

Despite the signs of economic revival, Bulgaria and Romania markets are still largely being ignored by international investors, says Bank Austria.

November 29, 2010

Vienna Insurance Group Takes a 100% Stake in TBIH

VIG now realizes an increased involvement in Turkey, Ukraine and Georgia.

November 26, 2010

Telekom Austria Buys Two Bulgarian Cable Operators

Telekom Austria buys two cable operators in Bulgaria: Megalan Network and Spectrum Net. The two companies are worth 83 million euro free of debt; Telekom will pay about 72 million through Mobiltel.

September 15, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010

EVN building cogeneration plant in Plovdiv/Bulgaria

Today, Prime Minister Bokyo Borissov, Provincial Governor Erwin Pröll and EVN's CEO Burkhard Hofer oversaw the ceremony for the construction of a highly efficient cogeneration plant in the city of Plovdiv.

September 13, 2010

Bauhaus arrives in Bulgaria via Vienna

The German do-it-yourself group Bauhaus, which controls all its CEE business from Austria, has ambitious plans for Bulgaria.

September 10, 2010

EVN - Majority of Bulgarian Gorna Arda is sought

Lower Austrian electricity company plans to acquire 70 percent of a hydroelectric project.

July 20, 2010
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