Bulgaria’s Industrial Production up by 1.5% September 2011 Y/Y

GVO

Bulgaria

Data from Bulgaria‘s statistic

Preliminary data released Monday by the Bulgarian National Statistics Institute, NSI, showed that Bulgaria‘s seasonally adjusted Industrial Production Index was up by 1.0% in September 2011 as compared to August 2011.

In September 2011, Bulgaria‘s working day-adjusted Industrial Production Index rose by 1.5% year on year.

Industrial production index in Bulgaria

In September 2011 as compared to August 2011, the seasonally adjusted Industrial Production Index in Bulgaria‘s mining and quarrying industry increased by 10.2%. Manufacturing increased by 3.7%, while electricity, gas, steam and air conditioning supply decreased by 7.2%.

The most significant increases in manufacturing production were seen in the repair and installation of machinery and equipment – by 40.8%; and in the manufacture of fabricated metal products (except machinery and equipment) – by 14.7%.

On an annual basis, September 2011′s Industrial Production Index, calculated from working day adjusted data in the mining and quarrying industry grew by 7.7%. The index for manufacturing increased by 2.7%, while electricity, gas, steam and air conditioning supply saw a decrease by 5.1%

Increases were registered in the production of investment goods in Bulgaria by 14.1%, in the production of energy by 2.1% and in the production of intermediate goods by 0.4%.

Construction sector in Bulgaria

According to the preliminary data of the NSI, the September 2011 index of production in the construction sector, calculated on the base of seasonally adjusted data, was 0.7% below the level of the previous month.

In September 2011 working day adjusted data showed a decrease by 11.6% in Bulgaria‘s construction production compared to the same month of 2010

 

Korean Firm Mulls Making Electric Cars in Bulgaria’s Varna

GVO

Bulgaria

Electric cars in Bulgaria

A Korean company is considering investment opportunities for the production of electric cars in Bulgaria‘s Black Sea city of Varna, South Korea’s Ambassador Chun Bi-ho announced.

His Excellency was in Varna Wednesday together with representatives of the Korean Trade Investment Agency (KOTRA).

He explained, as cited by BNR, that the undisclosed Korean firm in question first intends to assemble electric cars in Varna, and would them potentially go for manufacturing their parts their as well.

Chun did not reveal more details about the potential investment in electric cars but announced that Korean firms are involved in talks for potential participation in the concessions of Port Varna, one of the two major Bulgarian Black Sea ports.

Bulgaria Redirects Trade with Greece to Eastern Markets

Bulgaria‘s trade with Greece is in decline due to the economic crisis, Bulgarian Finance Minister Simeon Djankov has told the German Handelsblatt.

Instead, Bulgaria has increased its trading activity with Russia and Ukraine, Djankov clarified.

“Currently, there are 2000 Greek companies that have moved their headquarters to Bulgaria due to the low taxes. Furthermore, as a result of the decrease of some of the Euro zone members’ ratings, retirement pension funds withdrew their investments from Greece, Portugal and Ireland and redirected them to other destinations, including Bulgaria,” Djankov also pointed out.

According to the Finance Minister, Bulgaria has already overcome the worst of the economic the crisis. “Our economy has already started growing and the tax revenues have increased,” he stated.

“However, we are now in a period of uncertainty, since 60% of our foreign trade is with the EU, half of which is with Germany – and since Germany registers a low economic growth, we are also affected. That is why we altered our initial forecast for a 4.1% economic growth in 2012 to 2.9%.” Djankov clarified.

The Bulgarian Finance Minister surprised Handelsblatt’s journalist by revealing that his country’s minimum monthly wage is a mere EUR 135.

“It used to be EUR 120,” he pointed out.

Bulgaria and a Euro zone

Djankov further stated that Bulgaria has covered the criteria for a Euro zone entry for a second year in a row. However, he added that his country should wait at least one more year in order to observe how the debt crises are developing.

 

Bulgaria’s Budget Deficit Down 46% in Q1-Q3 2011

GVO

Bulgaria

Bulgaria‘s deficit has declined by 46 %

Bulgaria‘s budget deficit has declined by 46% in the first three quarters of 2011 year-on-year, according to latest data of the Finance Ministry.

Thus, in January-September 2011 Bulgaria accrued a deficit of BGN 826 M compared with BGN 1.51 B (a decline of BGN 692 M) in the same period of 2010.

In the first three-quarters of the current year, Bulgaria‘s national budget has accrued a deficit of BGN 483 M, while Bulgaria’s EU transactions deficit (i.e. the country’s contribution to the EU budget minus the absorbed EU funds) amounts to BGN 387.7 M.

In September alone, Bulgaria‘s monthly budget deficit was BGN 94.9 M, which is an increase compared with the BGN 11 M of deficit in August as well as with the BGN 18.9 M surplus in September 2010.

Bulgaria‘s budget income

Bulgaria‘s state budget income as of September 30, 2011, amounted to BGN 18.35 B, or 70.0% of the annual projection, which is a 5.7% increase (BGN 997.7 M more) than the state income for the first nine months of 2010.

The Finance Ministry points out that the growth in state revenues is the result of higher income from indirect taxes, which grew by 12.7%, or BGN 865.1 M, compared with the same period of last year.

Bulgaria‘s tax revenues

Bulgaria‘s total tax revenues, including social security and insurance payments, in the first nine months of 2011 amounted to BGN 15.08 B, or 82.2% of the total state income under the so called Consolidated Fiscal Framework. This is 72.9% of the projection for 2011 compared with 70.6% of the projection reach at the end of September 2010.

Direct tax revenues in the first nine months of 2010 amounted to BGN 2.79 B or 73.6% of the projected sum for 2011.

Indirect tax revenues came at BGN 7.66 B, or 73.7% of the expected amount. VAT income reached BGN 4.70, or 72.6% of the projected sum for the year. Excise tax revenues amounted to BGN 2.85 B, or 75.1% of the projection for 2011. Customs duties have yielded BGN 95.1 M, or 95.1% of the planned earnings for the year. Income from other taxes, including property taxes, amounted to BGN 593.1 M, or 77.3% of the annual projection.

Social security and health insurance payments have reached BGN 4.03 B, or 70.2% of the 2011 projection.

Bulgaria‘s revenues from non-tax sources and foreign aid amounted in the first nine months of 2011 amounted to BGN 3.27 B, or 59.4% of the projected sum.

Bulgaria‘s state spending, including its contribution to the EU budget, reached BGN 19.18 B in January-September 2011, which is 68.1% of the annual projection.

Current non-interest spending came at BGN 16.29 B (72.5% of the projected spending), capital spending, including the net growth of the fiscal reserve, amounted to BGN 1.87 B (50.5% of the projected amount), and interest payments reached BGN 490 M, or 74.1% of the projection for the above-stated period.

As of September 30, Bulgaria‘s contribution to the EU budget for 2011 amounted to BGN 528.1 M, in accordance with Regulation 1150/2000 of the Council of the EU.

 

Sofia, Bulgaria Grows Famous for Being Cheapest Tourist City in Europe

GVO

SofiaSofia is cheapest tourist city in Europe

A US daily has reminded that Sofia ranks as Europe’s cheapest tourist city.

Newsday cites the BackPacker Index ranking of the PriceOfTravel online portal which lists average daily expenditure in 40 major European cities.

The survey takes into account accommodation, transportation, attraction, food and drinking costs.

The survey for Sofia, Bulgaria

In its presentation of Sofia for 2011, the online portal notes that Bulgaria’s capital is growing more popular each year “due to the low prices of almost everything.”

The trip advisor warns, however, that the remote location of the city may be a problem for most casual travelers.

According to calculations of the website, backpackers need around BGN 30 per day for their stay in Sofia, including BGN 14 in accommodation costs at a “cheap/good hostel”, BGN 10 for meals, “not including breakfast”, BGN 2 for transport and BGN 5 for extra costs.

Who follow Sofia

Second place in the Backpacker Index goes to Poland’s Krakow, followed by Romania’s Bucharest.

The ten final entries in the ranking include cities like Vienna, Rome, Venice, Brussels and Paris.

The online portal estimates Zurich as the costliest tourist destination, noting that it “is a serious business city, so most things are geared to those with lavish expense accounts, and backpackers are barely an afterthought.

According to the Backpacker Index for 2011, a casual traveler visiting Switzerland’s largest city will need around CHF 116 per day.

Comparing with Bulgaria, they will need 30 BGN per day in Sofia.

Unlimited Hosting & Bulk Mailer $ 9.95 Monthly !! Incredible !! | GVO

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GVO

From Joel Therien. What’s the entire buzz about GVO?

GVO (Global Virtual Opportunities) formerly Kiosk is a company owned by Joel Therien who has a 12 year track of experience in the network marketing and internet marketing industries.

GVO has rapidly created a big buzz in the internet marketing and the MLM , Network marketing arenas due to the fact that it is the only company online that has the know-how and the expertise to join these two very important business models in a once in a lifetime opportunity.

What makes GVO such an incredible business opportunity?

The answer to this question is twofold:

First of all when you get your hosting package through GVO you will get several services like unlimited auto-responder system, complete video marketing system with easy video producer and video hosting, full audio and video conferencing system, downtime monitoring software, that not only are included but that will also mean significant savings compared to buying all these services separately.

Second, you will have the opportunity to participate in a MLM compensation plan that is much more than a simple affiliate program and makes it an entire business in itself, let me explain:

How do I get compensated?

To motivate you to promote the business, GVO pays you 50% commission on the first month of every person that is directly sponsored by you.

Then we have the 2 x 10 Binary Hybrid Matrix Plan that will pay you 5% per month of up to levels down making this a full matrix of 2,046 people and that alone will earn you $4,600.00 per month!

Wait! It gets even better because you will also get a 20% matching bonus on your personal referrals down to 10 levels.

Once you have a down-line of 14 people or more then you earn a new profit position in the matrix that you can also make money off of.

What guarantees that people will stay with GVO?

If you have been online for some time and you are serious about building an internet business, you know that in today’s market, these are tools that you or any internet marketer can’t afford not to have and that you will be using on a daily basis and that is the key that makes the compensation plan a very successful one.

With this business model you will build an organization of avid and constant users who will be using the services everyday to run their businesses and therefore will be happy to keep paying their monthly fee!

How do I join GVO?

At GVO we even give you the opportunity to try us and fall in love with our services before you commit to a longer stay.

Just pay $1.00 today and this will give you full access to all the services and features for a full 14 day trial period.

Hope your find everything you are looking for under one roof with unsurpassed quality, see you inside!     Joel Therien for GVO.

http://tinyurl.com/645cngt

<>joel therien

 

Bulgaria’s Bansko Named World’s Best Value Ski Resort

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Bansko

Bansko the cheapest ski resort in the world

Bansko, Bulgaria‘s biggest ski resort, is the cheapest resort for British skiers in the world, according to new research by the Post Office.

While last year Bansko ranked second, preceded by Romania’s Poiana Brasov, now Bansko has emerged as the most attractive winter resort for Britons on a budget since prices have fallen by 5% in comparison with 2010.

Ski resort report 2011 for Bansko

The total cost for ski equipment, lift passes, ski tuition, drinks and an evening meal for two came in at £263 which was still £100 cheaper than at the runner-up resort of Arinsal in Andorra, whose prices have also fallen by 5%, according to the Ski Resort Report 2011, carried out by Post Office Travel Money in association with Crystal Ski.

In third place, making its first entry into the list, came Slovenia’s emerging resort Bohinj.

“Skiers on a budget have great value resorts to choose from if they head east to Bulgaria and Slovenia or west to Andorra. Italy is also looking good for those skiers who prefer skiing in one of the long-established favorites,” head of Post Office Travel Money, Sarah Munro, commented.

Bansko – the winter capital of the Balkans

Last year Bansko was named the winter capital on the Balkans at an international tourism exhibition in the Serbian town of Novi Sad.

Bansko is a little town bordering Pirin National Park, about 160 kilometers south of Bulgaria‘s capital Sofia, offers a stark but nice contrast between the cobbled streets and churches of the old town and hundreds of millions of euros poured into hotels, ski runs and bright blue gondola bubbles in its modern part.

Supervising all this is the roughly 2,800-meter Todorka peak.

The formerly off-the-beaten-path destination has recently gone mainstream, but it is very rarely that tourists see the vistas doom-sayers warn against – construction cranes and gaudy mutrobaroque hotels, favored by the nouveau riche and organized crime mobsters, known as mutri, with which they try to prove their wealth.

Tourists need to spend no more than 25 euros a night in those hotels, which exemplify Bansko‘s ambitions best – quite chic, but without the ridiculous attempts to be cosmopolitan often found at Bulgarian resorts.

The old town of Bansko, where the prices are lower even than the capital Sofia, is a collection of ski and souvenir shops with cozy, dimly lit taverns and restaurants. It is not unusual to see an entire lamb or pig roasting on a spit in front of one of the eateries.

The alternatives are the pubs in Bansko, frequented by British, Irish and Greek tourists, who, together with the Russians, have until recently been the driving force of Bansko‘s prosperity.

Critics say Bansko was built to meet the standards of not that wealthy tourists, who do not bring lots of money to the country. As the global crisis bit, however, the number of these tourists, who out of fears for their jobs, decided to skip the holidays altogether, drastically decreased.

The long-term attraction will be limited, unless what is on offer complies with the highest standards, say the critics of Bansko.

 

Conservative Leader Pulls ahead in Bulgarian Presidential Ballot | Bulgaria

GVO

BulgariaBulgarian President Elections

A Bulgaria‘s center-right candidate won the first round last night of a Bulgarian presidential election.

Rosen Plevneliev, the ruling conservative GERB party’s candidate, was set to oust a Socialist incumbent, Georgi Parvanov after the first round. Mr Pleveneliev secured 40 per cent of the vote in the first round but needs more than 50 per cent to win outright.

Mr Pevneliev, left, has vowed to crack down on endemic problems of organized crime and corruption. He has also said he will improve transparency in the public sector of Bulgaria.

9 Bulgarian Cities Elect Mayors at 1st Round

Bulgaria‘s ruling, center-right Citizens for European Development of Bulgaria, GERB, party has collected the most votes in Sunday’s local elections according to exit polls and the first results from the Central Electoral Commission’s, CEC, ballot counting.

GERB have received 38% of the local vote, followed by the opposition left-wing Bulgarian Socialist Party, BSP, with 24% and the ethnic Turkish party Movement for Rights and Freedoms, DPS, with 6.7%

GERB had won the mayoral seats at first round in four regional centers – Bulgaria‘s capital Sofia, and the cities of Burgas, Gabrovo and Dobrich, BSP has a mayor in Shumen, the nationalist VMRO NIE – in Montana, DPS – in Kardzhali while independent candidates will become mayors of the cities of Pazardzhik and Kyustendil.

In Sofia, Yordanka Fandakova from GERB, was reelected as mayor with 51.5% of the votes against 22.2% for the BSP nomination, Georgi Kadiev.

In the Bulgarian Black Sea city of Burgas, current GERB Mayor, Dimitar Nikolov, scored an overwhelming victory at first round with 70% of the vote against 11% of the runner up – Valeri Simeonov, nominated by the newborn far-right, nationalist Party National Front for Saving Bulgaria, and owner of Scat TV.

In the second largest Bulgarian city of Plovdiv, the current Mayor from the nationalist VMRO NIE party, Slavcho Atanasov, with 26.8%, is going to a runoff against the GERB candidate and current Regional Governor, Ivan Totev, with 32.5%.

In the Bulgarian Black Sea capital of Varna the current Mayor, who was previously endorsed by BSP, and now by GERB, Kiril Yordanov, with 28.7% will face businessman, owner of pharmacies chain, and independent candidate, Veselin Mareshki.

This is the exit poll of the elections in Bulgaria.

 

 

Sofia Airport Center Showcased at Intl Facility Management Forum

GVO

SofiaSofia Airport Center

Sofia Airport Center, the largest business and logistics parks in Bulgaria has been presented at the Sixth Annual International Facility Management Conference in Sofia by its investors, Tishman International Companies and GE Real Estate.

The Sofia Airport Center Property Manager Nikola Ignatoff presented the home of Bulgaria’s first LEED-certified commercial office building, as a member of a distinguished panel focusing on the economic advantages of green development entitled “Sustainability as a Strategic Instrument.”

International Facility Management Conference in Sofia

The panel took place during part of the conference that was themed “Sustainability: Green Economics”. The Sixth Annual International Facility Management Conference itself was held October 13-14, 2011 at the Holiday Inn Hotel in Bulgaria’s capital Sofia.

“Tishman International is proud to share the strategies we employed to make the Sofia Airport Centeran outstanding example of the benefits of sustainable development,” said Alan D. Levy, Chairman of Tishman International. “The facility managers who attended the international conference are especially interested in how green development can lower their operating costs and, at the same time, provide a healthier environment for employees and the larger community,” he added. “We feel it is vitally important to promote sustainable development locally, regionally and globally.”

With the Sofia Airport Center as a model, Ignatoff highlighted the environmental and financial benefits to facility managers, developers, architects, engineers, consultants and real estate investors of green building and LEED certification. These advantages include lower operating costs; increased asset value; the reduction of waste sent to landfills; the conservation of energy and water; and the reduction of harmful greenhouse gas emissions.

What offers the  Sofia Airport Center

The Sofia Airport Center offers 165,000 square meters of high-tech commercial space, including Class A offices and prime logistics space with state-of-the-art security and safety systems, amidst a lush landscape with a central lake, green areas and winter gardens. An international hotel with dining, recreational, and conference facilities is also planned for future development at the Sofia Airport Center.

Tishman International Companies is currently active in the United States, United Kingdom and Central & Eastern Europe including Bulgaria (Sofia), Hungary, Czech Republic, Slovakia and Romania. The firm specializes, in the acquisition, development, management and financing of commercial real estate.

GE Real Estate currently has over EUR 1 B invested in Central and Eastern Europe. The Company has invested or developed in the retail, office, residential and logistics sectors in the Czech Republic, Poland, Slovakia, Bulgaria, Hungary and Romania. The Company made its first investment in Turkey in 2006.

The Sofia Airport Center is the company latest investment in Sofia.

 

First Bulgarian Electric Cars to Be Made in Lovech in 2012 | Bulgaria

GVO

Bulgaria

First series of Bulgarian electric cars

The Bulgaria‘s Litex Motors plant in the northern city of Lovech will have all the needed base and technology to start manufacturing the first series of Bulgarian electric cars in the spring.

A Conference in Bulgaria for the electric vehicles

The announcement was made by Bulgaria‘s Economy and Energy Minister, Traicho Traikov, who spoke Tuesday during a conference in Sofia, titled “Electric Vehicles as a Factor for Sustainable Urban Development.”

Several electric cars made abroad can already be seen on the streets in the Bulgarian capital Sofia while the Electromobil Industrial Cluster informs they can transform a regular vehicle into an electric one for the fee of BGN 8 000. Earlier plans included manufacturing of electric cars in the city of Stara Zagora as well.

“The European Union adopted a strategy for developing vehicles that do not pollute the environment and Bulgaria reiterated its desire to participate in this process. The sector guarantees high added value and competitiveness, cleaner urban environment and higher quality of live,” Traikov says.

The Bulgaria‘s Minister explained the State is to secure road infrastructure to the Lovech plant since it is a class A investment while a work group of experts from different ministries is discussing a package of incentives for the electric car industry and their use by consumers such as exemptions from the Value Added Tax (VAT) for the purchase of electric cars, elimination of registration fees, traffic and parking privileges in Bulgaria.

Traikov further said there is a project in place for building charging stations for electric cars in Sofia, Plovdiv and Varna.

The Bulgarian-Chinese joint venture

Great Wall Motor Company, one of China’s biggest automotive manufacturers, signed a joint venture (JV) deal with Bulgarian diversified holding company Litex Commercein the presence of Chinese Vice President Xi Jinping and Bulgarian Prime Minister Boyko Borisov at the end of 2009.

The plant in Bulgaria will have an annual production capacity of 50,000 units and assemble four different models – a sports utility vehicle (SUV), a pickup and two passenger car models, which are expected to be sold in European Union countries.

This will help the economic of Bulgaria.

Sopharma Business Towers Officially Opened in Sofia | Bulgaria

GVO

Bulgaria

New Bulgaria‘s office development opened in Sofia

Sopharma Business Towers, an office development in Bulgaria‘s capital Sofia, was officially opened on Friday.

“This is a vast investment that the state’s efforts made possible,” Bulgarian PM Boyko Borisov said during the official opening ceremony.

“I am glad this is over,” Sopharma CEO and owner Ognyan Donev said, adding that it took him 8 years to have his own house build during the transition towards democracy in Bulgaria, which almost made him give up on dealing with construction.

The Class A office building in Bulgaria

The buildings have been marked as “Class A” – the highest class in office and retail buildings according to European and World classifications. The Class A high-tech office buildings use the energy of the sun, wind, natural temperature of the soil and ground-water.

Sopharma Business Towers in Bulgaria has focused on using natural light – which will be available 82% of the working time throughout the year. Even in the event of a cloudy whether, the natural light available inside is 800 lux with 500 lux needed.

The large Bulgarian pharmaceutical producer

Donev recently made it clear that the large Bulgarian pharmaceutical producer is embarking on an ambitious program to expand its sales and presence throughout Eastern Europe, especially the Baltic states, Poland, Belarus, Ukraine, Serbia, and Turkey and possibly Greece.

Sopharma is known as one of the leading pharmaceutical companies in Bulgaria.