Money

Bulgarian Insurers Export BGN 3.89 B

Bulgarian Insurers Export BGN 3.89 B

08:05 | 12.06.2017 | by Standartnews
Bulgarian insurers have exported a total of BGN 3.89 B in a search for higher profits. As of end-March 2013, they managed a total of BGN 7,261 B. This is an increase by BGN 999 M, or 16% in a year's time. Only 46.4% of this money has been invested in financial instruments in Bulgaria. The rest has been exported to foreign financial hubs or funds, most of them in the EU, who offer more lucrative interest and return rates. One third of the assets of the insurers operating in Bulgaria are in...
Brexit: Has Germany just "won" WW2?

Brexit: Has Germany just "won" WW2?

16:25 | 08.06.2017 | by Silvia Todorova
The UK's nonsense decision to leave the European Union, now reinforced but also complicated by Theresa May's lukewarm election victory , will undoubtedly radically change the power map of Europe. First the referendum shock, then the highly unlikely parliamentary reaffirmation of Brexit followed be the triggering of Article 50, has caught most of us by surprise . While many are busy lamenting about the downfall of the UK - both in economical and maybe even in territorial aspects - and the...
Experts Encourage Bulgarians to Take out Mortgage Loans

Experts Encourage Bulgarians to Take out Mortgage Loans

09:50 | 02.06.2017 | by Standartnews
"Now is the best moment to take out a mortgage loan in Bulgaria," says Postbank CEO Asen Yagodin. "The average interest rate on housing loans in Bulgaria is about 3.5%, but it is expected to rise by 0.2 or 0.3 per cent in the middle of 2018," he added. The expert advises that the borrowers should be prepared for higher interests, especially thouse with loan terms of over six years. Mr. Yagodin assures there will not be a hike in the interest rates on bank loans, but rather a gradual...
Bulgaria Bans Cash Payments of more than BGN 1,000 by 2020

Bulgaria Bans Cash Payments of more than BGN 1,000 by 2020

10:09 | 01.06.2017 | by Standartnews
The Bulgarian government is planning to set a BGN 1,000 limit on cash payments by 2020. The current bracket of BGN 10,000 will be cut by half at the beginning of 2018 and over the following two years it will be further reduced to BGN 3,000 and BGN 1,000. These measures are provided in the latest amendments to Bulgaria's Tax Insurance Procedure Code passed by the Council of Ministers. They are aimed at restricting the grey economy in the country. The amendments will allow the...
BAT Acquires Bulgartabac Brands Worth EUR 100 M

BAT Acquires Bulgartabac Brands Worth EUR 100 M

12:16 | 12.04.2017 | by Standartnews
British American Tobacco (BAT) has announced their intentions to acquire Bulgartabac's top brands for over EUR 100 M. The acquisition will allow BAT to expand its market share to forty percent from the current twelve percent. The acquisition also includes some distribution and retail assets in Bulgaria and the Adriatic region. BAT Bulgaria is going to become one of the country's five largest taxpayers, promising to create 100 jobs when it is launched, plus one thousand more jobs in...
Bulgarian Food Producers Worried about Soaring Price of Natural Gas

Bulgarian Food Producers Worried about Soaring Price of Natural Gas

20:41 | 30.03.2017 | by Standartnews
Bulgarian food producers are expecting their production costs to grow after the planned hike in the price of natural gas by 30% as of April 1st, 2017. The consumer prices of central heating and hot water are also expected to go up. "About ten percent of the consumer price of our products is formed by energy costs. The more we pay for energy, the more expensive pastries we will have to sell," baker Dimitar Beshikov said. "If the price of natural gas goes up by 30%, a loaf of bread...
Bulgaria Emits New Debt

Bulgaria Emits New Debt

09:03 | 28.03.2017 | by Standartnews
New debt of 60 million Levs will be placed on the internal market on April 24th. Bulgaria's Ministry of Finance will offer auction of 4-year BGN government securities (GS). It will actually reopen the emission of government bonds, which was released on February 22, when securities worth BGN 60 million were also sold at a record low average yield of 0.18%. During the first three months of the year, Bulgaria sold government securities for 210 million Lev at a rate of one auction per...
Emigrants Bring More Money to Bulgaria than Foreign Investors

Emigrants Bring More Money to Bulgaria than Foreign Investors

09:21 | 07.03.2017 | by редактор
According to information of the Bulgarian National Bank, (BNB), in 2016 emigrants sent home a total of BGN 1.667 B, which is by BGN 14 M more than they did in 2015. At the same time, the direct foreign investments to Bulgaria in 2016 were EUR 682 M. This is a whole 60% slump from a year ago, when the direct foreign investments in the economy were by EUR 1 B more. In other words, our compatriots abroad sent back home BGN 332 M more than the foreign companies invested for the same...
Bulgaria Air Welcomes Spring with Special Promotions

Bulgaria Air Welcomes Spring with Special Promotions

12:04 | 02.03.2017 | by StandartNews
National carrier "Bulgaria Air" is welcoming the spring season with a ''Baba Marta'' special promotional campaign for all its direct flights. From 1 to 17 March the airline offers one-way and two-way airfare from Sofia at prices starting from 49 euros to 99 euros. The special tickets are suitable for all lovers of spontaneous and short trips, the promotional tickets include only hand baggage up to 10 kg. Each passenger may further take advantage of the transport of one checked baggage up...
Bulgaria Emits New State Debt Worth BGN 100 M

Bulgaria Emits New State Debt Worth BGN 100 M

09:58 | 28.02.2017 | by Standartnews
A new state debt worth BGN 100 M is going to be emitted on the home market in March. An emission of Bulgarian government bonds in BGN will be put on the counter at a tender scheduled for March 20th. The bonds are worth BGN 100 M and mature in ten and a half years. This emission is going to complement the one of January 25th, which is scheduled to mature on July 25, 2025. For a few months in 2016 the ministry of finance abstained from releasing government bonds emissions...
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