Latest News from Bulgaria

Bulgaria's PM, Ministers, Discuss Power Rate Hike for Industrial Consumers

Bulgarian Prime Minister Boyko Borisov has summoned a meeting of all ministers over the planned increase in electricity prices for industrial consumers as of July 1.

Sunday's meeting at the Council of Ministers building in Sofia is to also include energy experts, according to reports of the Bulgarian National Television.

Vasil Bozhkov Takes Over Bulgaria's CSKA Football Club Again

CSKA, until recently one of Bulgaria's top football teams, will be part of A Regional Football Group, businessman Vasil Bozhkov has said.

At a meeting with the official union of CSKA fans, Bozhkov reiterated that the team will not be part of the A Professional Football Group in the immediate future.

Bulgaria Power Price Hike 'Backed by Intl Business Unions'

Several business unions of international companies have moved to support Bulgarian energy watchdog KEVR's intention to increase electricity prices for industrial consumers, Capital Daily says.

This comes amid tensions between national business unions and the energy regulator as the latter is intending on rising industrial power prices in July.

Turkish Driver Dies after Colliding with Iranian Truck

A 74-year-old Turkish citizen has died after a frontal collision with an Iranian TIR truck in Southern Bulgaria, local authorities have said.

The Turkish man was reportedly driving in the opposite direction of the road between Sadovo and Cheshnegirovo, in the region of Plovdiv, when the crash occurred, according to BGNES newswire.

Bulgaria Tables Gas Hub Proposal in Russia

Bulgarian Energy Minister Temenuzhka Petkova has told Russian counterpart Alexander Novak that Sofia is proposing the construction of a gas hub on Bulgarian soil.

Fitch Reaffirms Bulgaria's Credit Rating at BBB- with Stable Outlook

Fitch Ratings on Friday affirmed Bulgaria's long-term foreign and local currency Issuer Default Ratings (IDR) at BBB- and BBB, respectively.

Outlook for both ratings are stable, Fitch said in a statement. GDP growth is projected at 1.2% for 2015 and 1.5% for 2016 respectively, "below potential growth, which is estimated to be between 1.5%-2.0%).

EU Keen to Help Serbia Secure Gas Supply

Michael Davenport, head of the EU Delegation in Serbia, on Friday that he had not been able to clarify the Serbian Foreign Minister's claim that the EU was being "hypocritical towards Serbia" about the South Stream pipeline, because the EU wanted to bypass Serbia with the new pipeline project, called East Ring.

Bulgaria's Supreme Court of Cessation Revokes Former Minister's Sentence

The 4-year sentence given to Bulgaria's former Interior Minister Tsvetan Tsvetanov has now been revoked by the Bulgarian Supreme Court of Cessation.

The lawsuit will be returned for a new review by new court officials, as reported by BGNES.

Gazprom claims thar EU "offered Russia to build pipeline bypassing Serbia"

Gazprom claims thar EU "offered Russia to build pipeline bypassing Serbia"

Ivica Dacic says he learned "from Russian colleagues" that EU officials "offered Russia to build a gas pipeline dubbed Eastern Ring."

This pipeline would go through Bulgaria, Romania, Hungary and Slovakia - bypassing Serbia.

 

Bulgaria's Labor Cost Marks 6,9% Increase in 2015

Bulgaria is among the leaders when it comes to increase in labor costs. The country has marked a 6,9% increase in the first three months of 2015 as compared to the same period of 2014.

The data has been released in the preliminary data provided by the Bulgarian National Statistical Institute (NSI).

Russia Expresses Readiness to Renew Talks on Burgas-Alexandroupoli Pipeline

Russia expressed readiness to renew negotiations on the construction of the planned oil pipeline between the Bulgarian Black Sea city of Burgas and the Greek Aegean Sea port of Alexandroupoli.

This was announced by Russian Energy Minister Alexander Novak at the Saint Petersburg International Economic Forum (SPIEF) on Friday, TASS news agency informs.

Bulgaria's Environment Minister Calls for Imposing Stricter Fines on Oil Spills

Bulgarian Environment Minister Ivelina Vasileva called on Friday for tightening fines imposed on oil spills.

According to the Environmental Protection Act, the maximum fine, which could be imposed at present is BGN 100 000.

Vasileva intends to undertake a legislative initiative and increase the fine to at least BGN 500 000, Darik radio reports.

Sofia Isn't Short of Festival Options This Weekend

An art fest, a music fest, and a colors fest - here are three major events taking place in and around Sofia this weekend.

The Water Tower Art Fest, running June 20-28, kicks of at 18:00, Saturday, and will feature video projections, installations, an exhibition, performances at public spaces, and lots of experimental music.

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