jeudi 25 septembre 2014

Bulgaria ranks fourth place in the world in low taxes for foreigners

Bulgaria is fourth in the world ranking of destinations with the lowest taxes for foreigners, published by the "Daily Mail". Bradley Hekford, company specializing in international expatriation, compiled the top ten countries with low tax burden based on criteria such as quality of life, legal and physical security, quality of economic investment, accessibility of the site and opportunities for recreation. Bulgaria is placed at fourth place in the ranking for lowest tax burden in Europe with 10% tax on personal income. Europeans don't have to invest in order to gain citizenship, but non-Europeans must be willing to invest 400,000 pounds in government bonds, marked by Bradley Hekford. First in the list are placed Bahamas who are close to the U.S.A. and enjoy the splendid surroundings and political stability. The country, which consists of over 700 small islands, offers an excellent standard of living and 0% tax on personal income.

Source : news.bgnes

mardi 23 septembre 2014

Bulgaria : 81% of retailers plan to open a new store to the end of the year

Companies engaged in retail business in the country, have positive expectations for the economy and 81% of them intend to open new stores to the end of the year, according to Colliers.
In the period from January to early July the shopping centers in the capital register employment over 97%, and the newly opened successfully maintain levels of over 85%. The analysis shows that the volumes of purchased and leased commercial space only for the period in Sofia exceed 4500 sq.m.
Projections indicate that the investment interest in the shopping center segment in the medium term is expected to be improved in two main directions - buying projects with financial difficulties to the already established malls with sustainable employment and commercial mix.

Source : monitor

lundi 22 septembre 2014

Bulgarie : Les ventes de whisky en plein essor

Le marché des spiritueux s’est stabilisé autour de 77 M litres en 2013. Les spiritueux importés représentent environ 11 M litres et ce segment continu à progresser.
Ainsi, la part des spiritueux importés dans la consommation a doublé pour les 5 dernières années pour atteindre 15% des volumes et 25-30% du chiffre affaires.
Le leader parmi les produits importés est le whisky, suivi par la vodka. Le segment premium des spiritueux importés enregistre également une croissance.

Source : Capital Daily

vendredi 19 septembre 2014

Bulgaria : Sutherland Global Services opens office in Burgas

The Global outsourcing company for business processes and operations Sutherland Global Services announced that it will open an office in Burgas. The company is in Bulgaria since 2008 and provides technical support, customer service via call centers and problem solving by phone, email and live chat. The company has employees in India, USA, Mexico, Colombia, Jamaica, Egypt, Dubai, Philippines and Canada.The Office in Burgas started with a logistics project and have already hired people who speak Russian and English.

Source : economy

mercredi 17 septembre 2014

Bulgaria : Chinese invest 20 million euro in Karlovo

Chinese consortium plans to invest in Karlovo 20 million euros in the production of probiotics. A few months ago representatives of the consortium tested in Chinese hospitals probiotics produced by a private company in Bulgaria, and reported good results. So they decided to invest in production in Karlovo. The investment will be implemented on an area of 20.4 acres northwest of the city.

Source : dariknews

mardi 16 septembre 2014

Fitch affirms Bulgaria`s ratings

The international credit rating agency Fitch Ratings Ltd. has affirmed Bulgaria's Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-' and its Long-term local currency IDR at 'BBB'; outlook stable. The Country Ceiling has been affirmed at 'BBB+' and the Short-term foreign currency IDR at 'F3'.
This is the second for this year affirmation of the country's ratings by Fitch after the assessment in January. The Stable Outlook reflects Fitch's assessment that upside and downside risks to the rating are well balanced. According to the agency the main risk factors that, individually or collectively, could trigger a positive rating action include implementation of key structural reforms leading to stronger trend GDP growth and a further, substantial reduction in external indebtedness.
The main risk factors that could trigger a negative rating action are linked with a macroeconomic or geopolitical shock that damages the small and open Bulgarian economy or a significant slippage relative to official fiscal targets, or the emergence of instability in the banking sector, eroding Bulgaria's key rating strengths.

Source : minfin

lundi 15 septembre 2014

Greek energy giant PPC begins to operate in Bulgaria

The Greek energy company Public Power Corporation (PPC) announced the creation of a subsidiary in Sofia, Bulgaria, in cooperation with the Swiss company ALPIQ Group. PPC will own 85% of the share capital, and the remaining 15% will be owned by ALPIQ. The Joint venture will be engaged in trading of electricity. The establishment of this subsidiary is part of a strategy of PPC to expand its activity to other markets in Southeast Europe.

Source : bnr

vendredi 12 septembre 2014

Bulgarie : La richesse des ménages a triplé en 9 ans

Selon le groupe financier Unicrédit, la richesse nette des ménages bulgares serait passée de 7 mds EUR en 2004 à 25 Mds EUR, aurait triplé en 9 ans et devrait atteindre 26,9 Mds EUR fin 2014.
La Bulgarie enregistre la plus forte croissance en Europe centrale et orientale qui n’a que doublé sur cette période pour atteindre 760 Mds EUR.
L’endettement des ménages s’élèverait à 10,4 Mds EUR. Plus de la moitié de l’endettement des ménages consiste en des prêts à la consommation et 45% des prêts immobiliers.
82% de leurs avoirs financiers seraient constituées de liquidités (numéraire et dépôts bancaires, 2% seulement seraient investis en portefeuilles d’actions et 16% auprès des mutuelles, des fonds de retraite et divers assurances.

Source : Novinité.com

mercredi 10 septembre 2014

Bulgarie : Le pays remplit les 4 critères d’accession à la Zone Euro

Le rapport de convergence de la Banque Centrale Européenne et de la Commission Européenne mentionne pour la seconde fois que la Bulgarie remplit les 4 critères quantitatifs pour devenir membre de la Zone Euro, tout comme la Lituanie qui entrera dans la Zone Euro en janvier 2015, la république tchèque et la Suède.
Ainsi le critère de stabilité des prix, avec une inflation annuelle à mai 2014 limitée à 0,8% (sous la valeur de référence de 1,7% des critères de convergence) ; le ratio du déficit budgétaire sur PIB s’établissait en 2013 à -1,5% (ratio de référence -3%) ; les taux d’intérêt à long terme se situent en moyenne à 3,5% de mai 2013 à mai 2014 (taux de référence : 6,2%) ; quant au ratio d’endettement brut du gouvernement sur PIB, il est de 18,9%, bien en dessous de la barre des 60% des critères de convergence.

Source :

mardi 9 septembre 2014

Bulgaria : The new plant of " Italcementi Group " will be ready in September

The complete reconstruction of the plant "Devnia cement" (part of "Italcementi Group Bulgaria"), which began in the summer of 2012, should be completed by the end of September. The commissioning of the new production line, which is in fact a new plant for cement and clinker, could be completed three months before the previously announced deadline.
According to the company "Devnia cement", the owner of the plant in Devnya, the investment will probably exceed 160 million euros and will be one of the biggest made in Bulgaria in the past 20 years. The expected annual capacity of the new line will reach 1.5 million tons of cement, which will make it the biggest, which "Italcementi Group" has in Europe.
According to the Ministry of Economy and Energy during the construction of the new plant were created about 1000 jobs. Until now, the Italian company has invested in its two plants in Bulgaria - "Vulcan" in Dimitrovgrad and "Devnia cement" over 400 million leva, which makes it one of the biggest investors in the country.

Source : capital

lundi 8 septembre 2014

Bulgarie : Baisse de la production de viande

La Bulgarie continue à importer une grande partie des matières premières nécessaires à son industrie de transformation. En 2013, la production de viande dans le pays a baissé et ainsi l’élevage satisfait moins de 40% des besoins du marché local. Ceci explique la progression des importations de viande, constituées essentiellement de viande de porc. La viande produite localement est destinée surtout au marché du frais et du réfrigéré, tandis que la viande importée est utilisée par l’industrie de transformation.

Source : Capital Daily

samedi 6 septembre 2014

Bulgaria : New double-digit growth in bank profits

Bank earnings have increased for the sixth consecutive month of December 2013 onwards, after five consecutive years of declines. The growth rates of financial results continued to be double digits, according to the Bulgarian National Bank (BNB) to the banking system at the end of May. For the improving results contribute not only the increase of the net interest income of banks but also the declining costs of the sector for allowances of bad credits.
In May, the banks on the Bulgarian market have made a profit of 57.6 million lev, which is 5.51% more than the results reported in May last year. The accumulated YTD profit also increased and by the end of May reached 363.9 million lev, increasing by 37.1% annualy. The rate of growth remains double-digit, but decreases compared to the reported growth in April of 45.3%.

Source : capital

mercredi 3 septembre 2014

Japanese cable manufacturer Yazaki expands its business in Bulgaria

The global automotive parts manufacturer and supplier Yazaki is planning to hire 200 more people in its factory in Sliven, said Tsvetan Dimitrov, Yazaki's Production manager, during a press conference of the municipal government. "800 people are currently employed at the company's factory in Sliven. We expect this number to reach 1,000 in 2014", he stated.

The production base in Sliven occupies an area of 13,800 square meters. The company bought the facility in 2012 and therewith started its reconstruction to comply with the legal requirements and internal standards of Yazaki. The company is currently one of the leading businesses owners in the Sliven municipality.

Yazaki Bulgaria Ltd. is 100% owned by the Japanese company Yazaki Corporation. The global company has the largest share in the international market of cable equipment for the automotive sector. Yazaki has already invested over 30 million euro in Bulgaria and employed more than 2,000 people. Yazaki Bulgaria Ltd. is one of the largest employers in the Yambol and Sliven regions.

Source : TLL

mardi 2 septembre 2014

Bulgarie : La Suisse finance 13 projets conjoints de recherche scientifique

Treize projets de recherche scientifique subventionnés à hauteur de 4,23 M francs suisses : ce sont les résultats intermédiaires de la réalisation du Programme bulgaro-suisse de recherche scientifique qui se poursuit jusqu’à la fin de 2016. Plus de 88% du financement sont octroyés par la Suisse, les 12 % restant représentent le co-financement par le budget de l’Etat bulgare.
Les projets approuvés sont dans les domaines de l’environnement (2 projets), de l’agriculture (4 projets), de la gestion des déchets (1 projets), des inégalités sociales (3 projets), du développement de nouveaux médicaments (2 projets) et des matériaux de construction innovants (1 projets).

Source : Journal Capital Daily

lundi 1 septembre 2014

Italian textile company invests in the renovation of its 3 Bulgarian factories

The Italian textile manufacturer E.Miroglio announced its plans to renovate the three company factories in Bulgaria, located in Sliven, Yambol and Svishtov. The Miroglio textile companies export their production to 65 countries. The factories' output is sold to more than six thousand customers.

The major project will be completed until the end of 2014. The required investment amounts to over 28 million euro (55 million lv), part of which will be provided by European programmes.
The renovation includes the replacement of old and amortized equipment which will lead to an increase of the product range, company owner E.Miroglio explained at an official presentation of the investment.

The project also involves the construction of a new facility for the production of fabrics. In the plant an innovative technology which had not been used in Bulgaria so far would be deployed, Miroglio noted.

"By the end of this year we plan to reach a turnover of 240 million lv, and in 2015 we hope to earn some 264 million lv", E.Miroglio stated. Since 2012 until now the Italian company has increased its staff in the country by 300 people. Currently, the three factories in Bulgaria employ a total of 2,300 people.

Source : TLL