German automotive supplier ZF Friedrichshafen plans to close its manufacturing plant in central Slovakia until mid-2026, a move that will gradually affect approximately 250 workers. The decision is part of a wider cost-cutting and restructuring initiative, as the company responds to declining European car production and broader financial pressures. The Detva facility, which produces components…
Businesses face a 50-million leva expense to update cash registers for dual currency use, euros and leva, ahead of Bulgaria’s eurozone entry. Employers guarantee that until October 8, all fiscal devices will be ready to issue receipts in both currencies. The IT sector reports no major software problems, yet service centers authorized to update older…
International partners are allocating over UAH 3 billion to support households in frontline regions that rely on solid fuel for heating during the upcoming heating season. The funds are expected to be used for purchasing solid fuel, with each household receiving UAH 19,400 for this purpose. The support from foreign partners was discussed during a…
In July, the Ministry of Finance, in accordance with budget legislation, ensured the transfer of inter-budget grants to the general fund of local budgets amounting to UAH 10.7 billion, which was 100% of the funds allocated from the state budget for July. They included: – Basic grants transferred amounting to UAH 2.1 billion (100%); –…
Two American financiers, one of whom has ties to the former U.S. President Donald Trump’s campaign, have initiated talks with Bulgarian officials over a potential investment in Chiren, Bulgaria’s state-owned underground gas storage facility. According to multiple sources familiar with the discussions, the interest centers on joining a government-backed plan to double the facility’s capacity.…
Like many businesses that sell returnable goods, Zirafa, a children’s shoe retailer based in Zilina, has found itself on the losing end of Slovakia’s transaction tax, which came into effect in April. The company’s online shop is now generating unexpected costs. In short, they must pay the transaction tax even on items that are returned.…
Bulgarian businesses are facing additional costs as they prepare for the mandatory dual currency display of prices in leva and euros, a requirement set to take effect on August 8. They have until the end of October to adapt their cash register systems and accounting software without risking financial penalties. Eleonora Negulova, chairwoman of the…