While a recent global report on press freedom in 139 countries ranked Bulgaria 38th, many of the country's journalists complain that the lack of a coherent judicial framework has been seriously hampering their work. Meanwhile, feeling about the press amongst the public at large still shows a basic lack of trust in the nation's print media, which is dominated by the capital, Sofia, and a couple of…
Brushing off concerns over the accelerated pace of energy reform, the Bulgarian energy minister told OBG last week that the changes the government was making were vital if the country was to maintain its international competitiveness. He also said that the new Energy Act would be a major step forward in energy market liberalisation. Minister of Energy and Energy Resources Milko Kovachev made his…
While officials in Abu Dhabi were announcing the start of a new, cut-price airline last week, new figures showed that it is not just aircraft that have been leaving the Emirates in recent years. Capital too has been heading overseas in large amounts, making the UAE the top player in inter-Arab investments. Flights with the new airline, Etihad, were launched November 5, with commercial operations…
In upbeat mood this week, the recently appointed IMF resident representative for Bulgaria praised the country's economic growth, falling inflation and declining unemployment in an exclusive interview with Oxford Business Group. However, he also warned that there was much more work to be done - both before and after EU membership. "It's important to bear in mind," James Roaf said, "that this nation…
While the long drawn out saga of the privatisation of Bulgaria's state telecoms company appeared to have reached its final chapter last week, there were also developments in the energy distribution fields regarding sell offs. Yet the news of progress in sell offs did not go down well across the board, with opposition parties demanding investigations - and tabling a no-confidence vote. The Vienna-based…
Although the privatisation of the country's main telecoms company is now apparently settled, Bulgaria's telecoms market is far from displaying signs of any tranquillity these days. With new moves on both the fixed-line and mobile phone front this month, the industry seems to be set for some heightened competition in the months ahead. The beginning of April saw news that Viva Ventures, the ultimately…
The resignation of Bulgaria's privatisation chief last week seems to have come at an important moment in the country's troubled sell off story. With the Varna shipyards finally officially handed over, and major developments in privatisation within the energy sector now on the cards, it seems an unfortunate time to have to leave. Yet, after around a year in post, Bulgarian Privatisation Agency CEO…
With Bulgaria's privatisation authorities announcing that they had struck more than 1,000 sell-off deals since the year began, it was a little disheartening for some to find that old chestnut, the Bulgarian Telecommunications Company (BTC), back in the privatisation headlines this week. A tangle over awarding it a GSM licence created some difficult legal conundrums for the company's new owners, while…
The boom business of the Bulgarian economy in recent years, real estate has seen its strong upward path seem more uncertain in the last few months, despite unflagging interest from many foreign buyers. Meanwhile, real estate agents are becoming increasingly disgruntled with the slow pace of producing a new property register, while others wonder how land prices will fare as European Union membership…
After Bulgarian concluded its negotiations with the EU on its accession chapters last week, the positive fallout is already evident. With a leading international ratings agency shifting the country from speculative to investment grade, it seems Bulgaria is now well on track to seeing more foreign interest, particularly with approval for a new IMF agreement now also under its belt. Standard & Poor's…
