Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce. Employment has dropped by nearly 20%, with the most noticeable decrease among younger workers, particularly those under 34 years old, where the reduction exceeds 30%. Danev also pointed out that high taxes on…
Pensioners of Vinnytsia region received UAH 2,433.8 million for pension payments, including UAH 591 million for pension payments through JSC “Ukrposhta” with payment dates until April 25 and UAH 1,842.8 million for payment through authorized banks with payment dates until April 25. Financing of insurance payments continues and as of today, UAH 76.1 million has…
Minister of Energy of Ukraine German Galushchenko held a bilateral meeting with State Minister for Foreign Affairs of Japan Fujii Hisayuki. The parties met on the sidelines of the International Energy Agency (IEA) Summit on the Future of Energy Security in London. The Minister of Energy thanked the Government of Japan for its assistance in…
Tourism in Bulgaria has made significant strides toward recovery in 2024, though it still hasn’t returned to pre-pandemic levels of 2019, according to Atanas Dimitrov, Deputy Chairman of the Bulgarian Hotel and Restaurant Association. He attributed challenges faced by the industry to factors like climate change and a lack of an effective marketing campaign by…
The European Central Bank has fined SEB’s Baltic operations a total of EUR 1.24 million for failing to adequately address deficiencies in credit risk assessment practices, including a EUR 490,000 penalty for the bank’s Lithuanian branch. According to the ECB, internal models used by SEB banks in Estonia, Latvia and Lithuania for calculating the Margin…
Bulgarian garment companies are struggling to find new markets due to the recent increase in tariffs on industrial goods under Donald Trump’s administration. Business owners are grappling with important questions: will Chinese imports shift towards Europe? Will local producers face a serious blow, leading to a market flooded with cheaper, lower-quality clothing? And could this…
The Prime Ministers of Ukraine and Norway Denys Shmyhal and Jonas Hahr Store discussed cooperation in the economic and defence sectors. The meeting took place on the sidelines of the Spring Meetings of the World Bank Group in Washington, DC. The parties addressed an issue of joint arms production. The Head of the Ukrainian Government…