There are currently 380 companies operating in the Bulgarian automotive industry, with the sector employing more than 80,000 people and accounting for over 10% of the country’s gross domestic product, Automotive Cluster Bulgaria (ACB) has said in a press release. Parts and components made in Bulgaria have been used in between 80% and 90% of…
First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko has signed a financial agreement between Ukraine and the European Union providing for EUR 5.27 billion in grant assistance under the Ukraine Facility over the next four years. The decision to attract grant support from the EU was made at a Government meeting…
Bulgargaz, Bulgaria’s state gas supplier, has initiated legal proceedings against Gazprom, the Russian energy monopoly, seeking 400 million euros in compensation for damages caused by the unilateral suspension of natural gas supplies over two years ago, as of the end of April 2022. The arbitration claim was lodged recently at the International Chamber of Commerce’s…
Minister of Internal Affairs of Ukraine Ihor Klymenko in his Telegram channel published information on the consequences of the russian shelling as of 15:00 on July 8. According to the Interior Minister, russia has damaged more than 50 civilian facilities, including residential buildings, a business centre and two medical institutions. Twenty-eight people were killed: 11…
Sofia is set to increase its tourist tax. The proposal emerged from the recent meeting of the Advisory Council on Tourism in the capital, marking the first adjustment in several years. Currently modest compared to other European cities, Sofia’s tourist tax has remained largely unchanged. Unlike practices abroad where tourists pay this tax separately upon…
Housing prices in Poland were 18% higher than a year earlier in the first quarter of 2024, which was the largest figure in the European Union for the second successive quarter, new Eurostat figures showed. Poland was followed by Bulgaria and Lithuania, which saw increases of 16% and 9.9% respectively. At the other end of…
Ukraine’s State Property Fund held eight auctions last week, selling UAH 181.6 million worth of objects. The agency’s press service said this in a post on Facebook. According to the fund, the value of objects grew on average 7.4-fold. In total, 54 bidders took part in the auction, with an average of seven investors competing…