Economy


    • US among Top 20 trade partners of Bulgaria

      US among Top 20 trade partners of Bulgaria

      The United States is among Bulgaria's top 20 trade partners, Economy Minister Emil Karanikolov said Tuesday at the opening of a conference mottoed Explore USA, cited by his ministry in a press release. The conference discussed the opportunities of Bulgarian companies to expand their business in the US.

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    • PM Borissov discusses Balkan Gas Hub in Azerbaijan

      PM Borissov discusses Balkan Gas Hub in Azerbaijan

      During his official visit to Azerbaijan on 14-15 March, Bulgaria's PM Boyko Borissov discussed the future of the Balkan Gas Hub with the Azerbaijani President Ilham Aliyev. The bilateral cooperation in the field of power engineering and the possibilities for the participation of Azerbaijan in the hub were the key agenda items of Borissov's talks in Baku.

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    • Strategic investor for Belene nuclear power project sought

      Strategic investor for Belene nuclear power project sought

      Bulgaria is seeking a strategic investor for its revived Belene nuclear power project on the Danube River, which is estimated to cost at least €10bn. In a statement last Monday, the Bulgarian energy ministry said that it hopes to select an investor in the next year and has asked potential bidders to file letters of interest in the project to build two 1,000 megawatt nuclear reactors.

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    • French company to create 1,200 jobs in Varna

      French company to create 1,200 jobs in Varna

      Somfy, the international group which is a world leader in automatic systems for control of opening and closing of homes and buildings, is pondering investment in their first plant in Bulgaria. The company plans to build a high-tech base for assembling electric motors and electrical drive mechanisms in the district of Varna, Bulgarian National Radio reports.

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    • Market share of contraband cigarettes shrinks to 4.7%

      Market share of contraband cigarettes shrinks to 4.7%

      The share of contraband cigarettes on the Bulgarian market dropped to 4.7% in the second quarter of 2018, according to a survey which looked into cigarette sales by collecting and analysing empty cigarette boxes. The findings of the survey were unveiled on 19 September by an organisation dubbed Initiative Against Illegal Trade, in the presence of Prime Minister Boyko Borissov, ministers, MPs, experts and Prosecutor General Sotir Tsatsarov.

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    • Borissov: US is key partner of Bulgaria

      Borissov: US is key partner of Bulgaria

      During a meeting with members of the American Chamber of Commerce in Bulgaria (AmCham) on 18 September, Prime Minister Boyko Borissov expressed satisfaction that the US has emerged as the sixth biggest investor in Bulgaria, which he attributed to the good business climate in the country. Borissov said that financial stability is something that is appreciated over time, and stressed that Bulgaria's foreign debt has fallen to 24% of GDP. The premier also noted the steady GDP growth and the diversification of investment in manufacturing.

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    • Plovdiv to host Industry 4.0

      Plovdiv to host Industry 4.0

      A Bulgarian company has invented a powerful solar collector - a global innovation to be exhibited at the International Technical Fair in Plovdiv. This is one of the sensations at the business forum for investment goods and technologies that will be held 24-29 September. The invention is a solar water-heating collector that absorbs up to 30% more solar energy as compared with existing systems of this type. The product has no analogues and is highly innovative, the company's experts maintain.

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    • Bulgaria pours millions into embargoed Russia

      Bulgaria pours millions into embargoed Russia

      Bulgaria's Ministry of Defence will pay millions for the repair of 13 old Russian tanks T-72 and 60 aiming devices for them, it transpired from an already effected scandalous public procurement. The new shock comes after the decision to extend service of 14 SU-25 jet fighters, museum pieces of the cold war period.

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    • Bulgaria opens gas link to Turkey

      Bulgaria opens gas link to Turkey

      Bulgarian PM Boyko Borisov attended today the opening of a Bulgarian-Turkish gas link between Lozenets and Nedyalsko gas stations. Modernisation of a transit pipeline connecting Bulgaria to Turkey is an option for Bulgaria to receive and transit Russian natural gas coming from the Turkish Stream.

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