International business

Australia and New Zealand said on Jan. 24 they hope to salvage the Trans-Pacific Partnership (TPP) by encouraging China and other Asian nations to join the trade pact after U.S. President Donald Trump kept his promise to pull out of the accord. 

United States President Donald Trum has signed an executive order that initiates his country's pullout of the Trans-Pacific Partnership (TPP).

The TPP, a cornerstone of his predecessor Barack Obama's political doings, has never been ratified by the Congress whose members have given it a mixed reception.

Estimates of a brisk fall in the value of foreign direct investment (FDI) into Bulgaria are "not quite correct", Stamen Yanev, who heads the country's investment promotion agency, has said.

The year 2016 was a "successful" year in the view of InvestBulgaria Agency, Yanev has told Bloomberg Tv Bulgaria's morning talkshow in an interview.

Beijing has pledged to open up more economic sectors to foreign investment, an official statement said, as foreign chambers of commerce complain of a worsening business environment in the country.

China's non-financial outbound direct investment (ODI) is likely to hit 1.12 trillion yuan ($161.19 billion) in 2016 and foreign direct investment into China will total 785 billion yuan, Commerce Minister Gao Hucheng said on Dec. 26. 

Turkey received $889 million in foreign direct investment (FDI) in October, the Turkish Economy Ministry said on Dec. 23.        

Foreign investment in Turkey reached $8.62 billion in the first 10 months of 2016, down by 44.3 percent compared to the same period last year.        

Foreign direct investment (FDI) into Bulgaria dropped by 46.1% year-on-year in the first ten months of 2016, the country's central bank BNB has said, citing preliminary data.

Over that period, FDI decreased by EUR 806.2 M to EUR 942 M. Last year, the respective value was EUR 1.7483 B.

Turkey's need to create a new economic story is becoming more and more urgent. Economic growth has slowed and inflation has risen amid steep fluctuations in global markets and severe shocks. 

Foreign direct investment (FDI) into Bulgaria was 21% less in the first nine months of 2016 compared to the same period of last year, central bank statistics show.

According to data from the Bulgarian National Bank (BNB), FDI for January - September 2016 amounted to EUR 1.3 B, which is 2.8% of Bulgaria's gross domestic product (GDP).

Two recent studies point to Eastern Europe and Bulgaria in particular as an increasingly attractive destination for companies looking to outsource software, according to an article posted on ZDnet website.