Money

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...
BNB: Personal loans in Euro get more expensive

BNB: Personal loans in Euro get more expensive

09:03 | 28.02.2017 | by Standartnews
According to information of Bulgaria's central bank (BNB), the total cost of personal loans has increased since the beginning of 2017. Тhe annual percentage rate of charge and the total cost of the credit to the consumer, calculated at the time the credit agreement is concluded, has increased to 6.57%. For comparison, in the last month of 2016 it was 6.10%. Similarly, Тhe annual percentage rate of charge on the housing loans has increased to 5.04%, as against 4.47% in December 2016....
Bulgarian Hotels Make BGN 195 M More in 2016

Bulgarian Hotels Make BGN 195 M More in 2016

13:11 | 27.02.2017 | by Standartnews
According to information of the National Statistical Institute (NSI), the returns of the Bulgarian hotels for 2016 on night-stays alone are BGN 1.229 B. This is an increase by about 19%, or BGN 195 M year-on-year. The growth owes itself largely to foreign guests, with returns on their stays hike by over 22% (BGN 263 M). They were responsible for 72.5% of the total hotels' returns on night-stays. Not surprisingly, the foreigners staying in Bulgaria on holiday, or for work, prefer our...
Bulgaria’s Revenue Agency Seals off 180 Retail Outlets over Infringements

Bulgaria’s Revenue Agency Seals off 180 Retail Outlets over Infringements

13:53 | 23.02.2017 | by Standartnews
T ax inspectors of the National Revenue Agency have sealed off 180 retail outlets across the country since the beginning of 2017. Tax evasion is the most common infringement committed by the retailers, followed by turnover conceal, discrepancies between the amount in the cash drawer and the registered sales, non-issuance of receipts, etc. Usually, the infringers have their outlets closed for between one and two weeks, or until the fines imposed by the NRA agents are paid. NRA...
Bulgarian Banks Collect BGN 1 B in Fees in 2016

Bulgarian Banks Collect BGN 1 B in Fees in 2016

12:10 | 20.02.2017 | by Standartnews
According to information of the Bulgarian National Bank (BNB), the revenues of the Bulgarian banks from commission fees and charges for 2016 amount to BGN 1.06 B, as against BGN 1.02 B in 2015. Bulgaria's banking sector has reported a record-high profit for 2016 in the amount of BGN 1.262 B – an increase by 40.5% (BGN 264 M) year-on-year. In 2016, the banks earned over BGN 3 B from loan interests, a small decrease from a year ago when the revenues from loan interests were...
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