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1 November 2014, Issue 4069
Bulgaria's Daily Newspaper since 2001
9716 subscribers of Novinite.com
|BUSINESS POLITICS WORLD SOCIETY SPORTS FORUM|
Intl Consortium Proposes to Inject BGN 2.3B in Bulgaria's KTB - FinMin
An international consortium has proposed to Bulgarian authorities to invest BGN 2.3B in troubled Corporate Commercial Bank (Corpbank or KTB), carateker Finance Minister Rumen Porozhanov said on Friday. read
Bulgaria’s National Electric Company Reports BGN 425 M Loss in end-Sept
Bulgaria’s state-owned National Electric Company (NEK) has reported a loss of BGN 425 M for the first nine months of 2014. read
GERB WITHDRAWS PROPOSAL TO SAVE KTB THROUGH LEGAL CHANGES
Conservative GERB has renounced its proposal for legislative amendments that could restore troubled Corporate Commercial Bank (KTB) back to health.
On Friday, a consortium of investors submitted a proposal to participate inject BGN 2.3 B in KTB, but authorities are yet to respond.
3 BIG OUTSOURCING FIRMS TO OPEN OFFICES IN PLOVDIV WITHIN MONTHS
In a few months’ time, three leading outsourcing firms will open offices in Bulgaria’s Plovdiv.
Representatives of Scale Focus, 60К and UNIFY announced at a conference titled “Outsourcing Destination Bulgaria” in Plovdiv on Friday that they had picked the city due to the combination of universities, affordable office rental rates, and the support of the municipal authorities for the launch of their businesses. read more
FLYDUBAI AIRLINE TO FLY BETWEEN SOFIA AND DUBAI
The Flydubai low cost airline starts flights between of Sofia airport and the Dubai International airport twice a week, according to the winter timetable of the Sofia Airport.
The flights will operate on Wednesdays and Sundays. read more
CONSTRUCTION OF 2 NEW BULGARIA-ROMANIA BRIDGES TO START BY 2017
The construction of the two new bridges Silistra – Calarasi and Nikopol – Turnu Magurele will start by 2017, according to Bulgaria’s caretaker Transport Minister Nikolina Angelkova.
Angelkova explained Friday that the deadlines had been included in the bilateral memorandum on building two new bridges over the Danube. read more
BULGARIA-MACEDONIA RAIL LINE TO START FUNCTIONING IN 2022
Macedonia’s Transport Minister Mile Janakieski expects the Bulgaria-Macedonia rail line to start functioning in 2022.
The transport ministers of Bulgaria, Macedonia, and Albania participated Friday in a conference held in Sofia. read more
INTL CONSORTIUM PROPOSES TO INJECT BGN 2.3B IN BULGARIA'S KTB - FINMIN
An international consortium has proposed to Bulgarian authorities to invest BGN 2.3B in troubled Corporate Commercial Bank (Corpbank or KTB), carateker Finance Minister Rumen Porozhanov said on Friday.
Speaking on bTV channel, Porozhanov said the proposal of State General Reserve Fund of Oman, Vienna-based EPIC Group and GemCorp Capital LLP was submitted to Bulgaria’s government, finance ministry and central bank late on Thursday. read more
BULGARIA’S NATIONAL ELECTRIC COMPANY REPORTS BGN 425 M LOSS IN END-SEPT
Bulgaria’s state-owned National Electric Company (NEK) has reported a loss of BGN 425 M for the first nine months of 2014.
NEK’s loss has increased by 275,2% year-on-year, according to a financial report of the company, as cited by econ.bg. read more
AUSTRIA'S VERBUND TO SELL ITS WIND FARM IN BULGARIA
Austrian energy concern Verbund is selling its wind park at Bulgaria's Black Sea coast, the concern said in a statement Thursday.
At the same time the company has long considered its business in Bulgaria and Romania unprofitable due to low whosale prices of energy sunk to EUR 7.2 M in Q3, from the previous EUR 62.4 M. read more
RUSSIA TIES RENEWAL OF SUPPLIES TO UKRAINE'S FIRST CHUNK OF DEBT
As soon as Ukraine transfers the first chunk of debt worth USD 1.4 B, Russia will renew gas deliveries, Economy Minister Alexander Novak says.
Kiev and Moscow have been locked in a gas dispute since this spring, with the former refusing to pay off debts to Gazprom. In June the Russian energy concern introduced prepayment for gas deliveries and halted supplies. read more
BULGARIA COUNTS ON AUSTRIA'S SUPPORT FOR SCHENGEN BID - PM
Austria will support Bulgaria in its commitment to reform, the country's President Heinz Fischer made clear on Friday while meeting caretaker PM Georgi Bliznashki.
FINANCIAL SUPERVISION COMMISSION CHAIR, ECB VICE-PRESIDENT DISCUSS TROUBLED BULGARIAN BANK KTB
Stoyan Mavrodiev, Chair of Bulgaria’s Financial Supervision Commission (FSC), met with Vitor Constancio, Vice-President of the European Central Bank (ECB) during a working visit to Frankfurt.
The FSC, a member of the Financial Stability Advisory Council and the European Systemic Risk Board (ESRB), sought the meeting as part of its efforts to help maintain financial stability in Bulgaria and find an optimal solution to the crisis involving Corporate Commercial Bank (KTB, Corpbank). read more
BOYKO BORISOV THREATENS TO RETURN MANDATE
GERB leader Boyko Borisov told journalists in Parliament he might return the government mandate next Wednesday, if no agreement is reached.
“As of today I am not optimistic about the government negotiations,” Borisov said, quoted by Dnevnik.bg. “Yesterday's option is not abandoned, but this is our tenth meeting already. And at every meeting we agree to have consultations and have a final decision at our next meeting. At the next meeting we don't agree on anything, because we need more consultations.” read more
PRESIDENT PLEVNELIEV BEGINS CONSULTATIONS WITH PARTIES FRIDAY
Bulgaria's President Rosen Plevneliev is to hold consultations with the left-wing ABV and ultra-nationalist Ataka on Friday.
PARLIAMENT STARTS DEBATE ON BUDGET OVERHAUL, C-BANK'S REPORT ON KTB
Bulgarian lawmakers are discussing amendments to the 2014 budget and two documents about the situation at Corporate Commercial Bank (KTB) on Friday.
SOFIA METRO TO REACH AIRPORT IN APRIL
The extension of Sofia's red line will reach the airport in April 2015, said Sofia Mayor Yordanka Fandakova who inspected the construction process.
The inspection established that the work was 72% complete and the metro station at the airport will be finished by end of November. read more
REFUGEE CENTER IN BULGARIA’S KOVATCHEVTSI FACES CLOSURE
The refugee center in the western village of Kovachevtsi will be closed, according to Nikolay Chirpanliev, Chair of Bulgaria’s State Agency for Refugees.
In an interview for Presa daily, Chirpanliev says that the authorities will have to move some 100 people, who currently live there, to other centers. read more
SOFIA CITY COURTS ACQUITS ACTIVISTS FOR PAINTING MONUMENT
The Sofia City Court acquitted Asen Genov and Tsvetelina Sarbinska, accused of hooliganism for painting the monument in front of the Bulgarian Socialist Party offices in Sofia last November.
As a part of the anti-government protests in 2013 Genov, a blogger and active participant in the protests, and Sarbinska reportedly painted the monument, depicting communist partisans, in pink and purple and wrote “WHO? BCP – DISGRACE”. WHO? being one of the popular slogans of the protests and BCP referring to the old name of BSP – Bulgarian Communist Party. read more
SOFIA HISTORY MUSEUM TO HOST EUROPEAN HERITAGE DAYS
The Sofia History Museum will host the first European Heritage Days in Bulgaria.
ARCHAEOLOGICAL EXCAVATIONS AT PERPERIKON TO CONTINUE NEXT YEAR
The archaeological excavations at the Perperikon site in south eastern Bulgaria will continue next year, the head of the archaeological team Nikolay Ovcharov told journalists, quoted by BTA.
This season the team studied the buildings' reconstruction pattern from the Antiquity through the Middle Ages. read more
A FAMILY OF PIGS
A young couple drove several miles down a country road, not saying a word.
BULGARIA DROPS IN ANTI-BRIBERY ENFORCEMENT RANKING - REPORT
Bulgaria has regressed in the OECD Anti-Bribery Convention enforcement, a new report by Transparency International has shown.
“Fifteen years after the Convention entered into force, there are still 22 countries with Little or No Enforcement and eight countries with only Limited Enforcement. As a result, the Convention’s fundamental goal of creating a corruption-free level playing field for global trade is still far from being achieved,” Transparency International said in its Progress Report 2014 . read more
GERMANY INTRODUCES ROAD TOLL OF UP TO EUR 130 FOR FOREIGN DRIVERS
Germany has introduced a road toll which requires foreign car drivers to pay up to EUR 130 a year for using the country’s motorways.
The new fee, which will is scheduled to take effect in 2016, aims to secure funds for the maintenance of transport infrastructure, according to reports of EurActiv. read more
HUNGARY DROPS DRAFT INTERNET TAX BILL AFTER PROTESTS
Hungary’s Prime Minister Viktor Orban on Friday said a controversial draft bill to tax Internet traffic will be scrapped following mass protests.
"This tax in its current form cannot be introduced because the government wanted to extend a telecommunications tax, but the people see an Internet tax," Prime Minister Viktor Orban said on Radio Kossuth on Friday. read more
VICTOR PONTA SET TO WIN FIRST ROUND OF ROMANIAN PRESIDENTIAL RACE
Romania’s Social Democrat Prime Minister Victor Ponta leads in opinion polls ahead of the first round of presidential elections on November 2.
According to a CSCI poll conducted from October 27 to October 29,the 42-year-old prime minister is expected to garner 40% support, while his main opponent, Liberal Party head Klaus Iohannis, will get 29%. read more
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