The Club

The Club

Kosherinata - Bansko

Kosherinata - Bansko

PM Borissov Meets with Egypt\'s President el-Sisi 15.1.2020
PM Borissov Meets with Egypt's President el-Sisi
January 15 (BTA) - Meeting with Egypt's President Abdel Fattah el-Sisi, Bulgaria's Prime Minister Boyko Borissov said, as quoted by the Government Information Service: "The real breakthrough achieved in the...

Parliament Votes New Environment Minister into Office 15.1.2020
Parliament Votes New Environment Minister into Office
January 15 (BTA) - With 111 votes in favour and 96 votes against, the National Assembly Wednesday approved the nomination of Emil Dimitrov MP of United Patriots as Minister of Environment and Water. He later swore...

Inflation for December 2019 Is 0.7%
January 15 (BTA) - Inflation for December 2019 versus November is 0.7 per cent, the National Statistical Institute said on Wednesday. The annual inflation for December 2019 compared to December 2018 is 3.8 per...

Weather/BNB fixing 17.01.20

20° Sofia 21° Plovdiv
20° Burgas 17° Stara Zagora
21° Varna 20° Rousse
CHF 1.59816 GBP 2.31651 USD 1.4962 is a member of

Record '07 foreign investment in financial intermediation

Financial intermediation absorbed 1.741 bln euro in foreign direct investment (FDI) in 2007, up a handsome 137% year-on-year, central bank data shows.

The upside came from the capital hikes performed by local banks and insurance companies and the large volume of intercompany credits, said experts.

The biggest chunk of FDI - 37%, was injected into real estate transactions, rental and business services. In nominal terms, it rose 41% year-on-year to 2.158 bln euro.

Construction attracted 12.4% of FDI with 706 mln euro in 2007, up from 466.4 mln euro a year ago.

Investment in the farming sector posted a whopping 229% year-on-year growth to 50.8 mln euro, mainly due to the low base. Farming still accounts for a mere 0.9% of FDI.

Investment in the processing industry and in the production and distribution of electricity, heating, liquefied fuel and water posted 84% and 64% declines, respectively.

Since these are preliminary figures, experts said they will most likely to be revised upwards.

The central bank data shows that the processing industry attracted 128 mln euro, down from 804 mln in 2006, while power and fuel production attracted 88 mln euro, down from 246 mln euro in 2006.

Total FDI inflows rose 30.3% to the record-setting 5.687 bln euro in 2007.

Latest news:
Resort hotels facing piecemeal disposal Resort hotels facing piecemeal disposal
The owners of some hotels on the Bulgarian Black Sea coast are revamping them into holiday home properties as concerns mount about the outlook for domestic real estate investments. The trend is especially evident in...
Sunny Beach Overbuilt, Construction Works Move South Sunny Beach Overbuilt, Construction Works Move South
Unlike previous years when parallel with the blossoming spring the Sunny Beach(Slanchev Briag) resort was filling with herds of cranes and trucks heavy-loaded with construction materials, now construction works are...
Israelis to Build Logistic Center Near Plovdiv Israelis to Build Logistic Center Near Plovdiv
A logistic center will be build on an terrain of 330 decares and covered area of 140 000 sq.m, informs of the project is the Israeli company “AFI Europe”, which already owns three...
Burgasgas to invest 5 mln levs in gas mains in '08 Burgasgas to invest 5 mln levs in gas mains in '08
Burgasgas, a unit of local gas supplier Overgas Inc., said it will invest 5 mln levs in the deployment of 26 km of gas mains in the city of Burgas, on the Black Sea. The company added 32 km to its civic gas network in...
Pomorie golf development dogged by ownership, profit sharing squabbles Pomorie golf development dogged by ownership, profit sharing squabbles
The start of the Black Sea Golf&Country Club development in the coastal village of Kableshkovo is facing a fresh delay as the Pomorie municipality and NGB Consulting continue to wrangle over the participation of the...
Stargate Maritime co to offer ship management services Stargate Maritime co to offer ship management services
Bulgarian company Stargate Maritime, a unit of Japan's aiyo Nippon Kisen Co Ltd. (TNKC), said it plans to offer ship management services on the local market. At the moment, the company takes care of the placement of...
Eastern Europe's First Open-Air Snowboard Park Appears in Sofia Downtown Eastern Europe's First Open-Air Snowboard Park Appears in Sofia Downtown
The construction sites of Eastern Europe's first solid open-air snowboard park are taking place in the moment in Bulgaria's capital downtown, reported. The park, which is a real dream come true especially...
EU Border Security Discussed in Sofia EU Border Security Discussed in Sofia
Conference “Competent and well-intentioned service of the external borders of the EU” with an accent on the observation of the south-east border of the EU will be conducted in Sofia. The prestigious forum is...
EU Criticizes Bulgaria on Salaries Growth EU Criticizes Bulgaria on Salaries Growth
Criticism towards Bulgaria for the excessive growth of the salaries in the country during 2007 will be made today by Brussels.EU officials will also announce the evaluation and the recommendations of Brussels on the...