Foreign direct investment falls across West Balkans, except Montenegro
Foreign direct investment (FDI) in the region was €4.5bln in January-September, 2009, a deep decline from the previous year.
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European Financial Institutions to Support Western Balkans
The European Commission, European Investment Bank, European Bank for Reconstruction and Development, and the Council of Europe Development Bank have launched the Western Balkans Investment Framework (WBIF) to finance priority projects in the Western Balkans, the EBRD announced in a statement.
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$750m Fund to Focus on CEE Property Markets
A US based multi-national real estate investment management firm has closed its fourth European investment vehicle.
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Restructuring Fund For CEE To Support Region's Recovery is Being Launched
IFC, a member of the World Bank Group; the European Bank for Reconstruction and Development; and CRG Capital, a leading restructuring fund manager have launched the first fund dedicated to investing in distressed assets in Central and Eastern Europe.
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Vivacom Sells Substantial Part of Real Estate Assets
Vivacom, controlled by the U.S. insurance giant AIG, has agreed to sell two landmark properties from its real estate portfolio.
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Bulgaria Construction Sector Hardest Hit by Crisis
A statistical analysis of the European construction sector released in December 2009 by Eurostat, shows that the greatest drop in output was registered in Bulgaria.
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Bulgaria to Speed up the Process of Joining The Eurozone
Bulgaria will launch its bid to join the euro zone at the end of January 2010, Prime Minister Boiko Borissov told The Wall Street Journal.
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ECE to Open Its First Shopping Mall in Bulgaria
The newest shopping mall in the Bulgarian capital – Serdika Centre – is going to be opened on March 16, 2010. This has been announced by its manager, Atanas Radev.
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Boom of Discounters in Bulgaria in 2010
The economic crisis in 2009 has proved fertile for the discount retailers stepping on Bulgarian soil and the country will see their boom in 2010.
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Bulgarians Keep Record-Breaking Sums in Bank Deposits in Times of Crisis
The deposits of the Bulgarians have reached BGN 24.1bln end-November 2009, shows the data of the Bulgarian National Bank. Within that month alone, the deposits of the Bulgarians increased by BGN 227m or by 0.9%, while for the last 12 months the growth is by BGN 2.3bln or 10.6%.
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Bulgaria to Bag €1bln EIB Funding for European Projects
The European Investment Bank (EIB) will provide €1bln to Bulgaria to resolve the shortage of national co-payment under the operational programmes of the European Union (EU), said transport minister Aleksandar Tsvetkov.
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FDI in Bulgaria Substantially Decreases
Bulgarian National Bank figures showed that foreign direct investment in the country from January to December 2009 was € 3.0bln, almost half for the equivalent period of 2008, when it totalled € 5.8bln.
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Bulgarian Economy to Contract Less Than Expected
The Bulgarian economy will shrink 4.9% in 2010, Finance Minister Simeon Dyankov said, revising down the government's 2009 forecast of a 6.3% contraction.
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Investbulgaria Agency Awards Investors of The Year
InvestBulgaria Agency has handed for the fourth consecutive year prizes to top investors in Bulgaria, which have poured a total of BGN 2.2bln into the country in 2009.
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IKEA to Enter Bulgarian Market in 2011
Swedish furniture company IKEA is planning to open its first Bulgarian store in mid 2011.
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EC Approves Financial Aid for Nabucco, Bulgaria Gas Pipe Links
The European Commission has approved the requested financial aid for construction gas pipeline connections from Bulgaria to Greece and Romania.
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Bulgaria's Foreign Tourism Revenue Up by 1.3% for Jan-Sept 2009
Bulgaria's revenue from international tourist visits in the first nine months of 2009 amounts to €2.3bln, which is a 1.3% increase compared to the same period in 2008.
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S&P Raises Bulgaria's Rating
Standard&Poor's has raised Bulgaria's long-term sovereign rating from BBB- to BBB+, finance minister Simeon Dyankov said.
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Bulgaria 2010 Budget - Revenues Up by BGN70m
Bulgaria's parliament decided to increase by BGN 70m the revenues from corporate taxes.
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Bulgaria Central Bank Sees Lending Rise In 2010
Lending volume in Bulgaria could begin to "increase slightly" at the start of 2010, the Bulgarian National Bank said in its latest economic review quarterly report.
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Large Scale Mixed Use Centre Receives Building Permit
A Bulgarian Company has paid a record price of €1.8m for the building permit for its mixed-use centre in the capital, said Sofia Chief Architect Petar Dikov.
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Romania Residential Building Permits Down 20.8%
Romanian authorities issued 45,324 construction permits for residential buildings in the January-November period of 2009, down 20.8% from the same period in 2008.
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IMF says Romanian Loan May Be Released In February 2010
Romania may be able to tap an International Monetary Fund aid package as early as February 2010 once a cost-cutting budget is approved, an IMF official said.
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Romanian FDI Halved in the First Ten Months of 2009
Foreign direct investment (FDI) in Romania more than halved in the first ten months of 2009 to €3.7bln, compared to €7.6bln in the same period in 2008r, the central bank reported.
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€4.2M Ferrari Store Opens in Bucharest
The first Ferrari store in Romania was opened in downtown Bucharest, on Calea Victoriei in December 2009, following a €4.2m investment, said Ion Bazac, President of Forza Rossa, Ferrari's partner in Romania.
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Hilton Continues Penetrating Romanian Market
Hilton Worldwide (formerly, Hilton Hotels Corporation), a subsidiary of the Blackstone Group, will bring Hilton's Hampton economy class hotel brand to Romania, and launch it in the province, company representatives announced.
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Five-Star Bucharest Hotel to Open in 2011 After Refurbishment
An international hotel operator has announced the development of its affiliated facility in Romania is proceeding according to schedule. Corinthia Lake Resort & Spa Hotel in Bucharest is on schedule, with completion planned for 2011, CHI Hotels & Resorts (CHI) stated.
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Israeli Group to Invest $1.0bln in Ukraine
An Israeli property developer plans to build a large scale mixed-use scheme on 65 ha in Ukraine.
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Rezidor Plans Market Penetration Program in Ukraine
Brussels-headquartered Rezidor Hotel Group intends to open the second stage of its Ukrainian Radisson Resort Alushta Hotel in 2012, said Darren Blanchard, Senior Director at the Rezidor Hotel Group Moscow Office. The new building will have 137 rooms.
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Serbia Remains High-risk Country Despite Improvement
Dun & Bradstreet has again ranked Serbia as a high-risk investment venue despite improvement, and affirmed its DB5a rating for the Balkan country.
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Serbian EU Membership Application Submitted
On Dec 22nd 2009, Serbia formally submitted its application to join the 27-nation EU, in a move to end years of isolation.
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€160m Loan Supports Serbian Infrastructure Project
A €160m credit facility has been approved to support an infrastructure project in Belgrade, Serbia.
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Israeli Developer Invests €500m in Serbia
An Israel-based company is starting construction of its first shopping mall in Serbia.
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EBRD and Ohridska Banka Boost Financing for Real Economy in FYR Macedonia
The EBRD is increasing the availability of financing to the real sector in FYR Macedonia with a €5m credit line with Ohridska Banka, Societe Generale Group for on-lending to small and medium-sized enterprises (SMEs).
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Social Democrat Ivo Josipovic Elected Croatia President
The opposition Social Democrat, Ivo Josipovic, has won Croatia's presidential election by a wide margin.
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Croatia's EU Entry Talks Halted by Slovenia Again
Croatia made progress towards its goal of wrapping up negotiations in 2010 to join the European Union but entry talks were stalled in some areas by neighbouring Slovenia, an EU member.
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New €175m Shopping Mall Announced in Croatia
A €175m shopping and entertainment centre will be developed as part of a mixed-use scheme in Croatia. The retail development, scheduled to start in the first half of 2010, will be jointly implemented by Split-registered Tulipan Grupa and ECE Projektmanagement, as part of the Split Gate mixed-use scheme.
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Partnership Signed to Pursue Hotel Opportunities in Eastern Europe
A strategic partnership has been signed between Istanbul-based hotel management, development and franchise company Continent Hotels & Resorts and Austrian Mayer GmbH, who holds master rights over Leading Family Hotels and Kinderhotels brand and operates in Europe.
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