News

26Oct2015

The chief executive of Oman’s Shanfari Group of Companies has stepped in to bail out Bulgaria’s Investbank, buying a 25% stake in the lender in return for 50 million levs ($31.5 million). Bulgaria’s central bank…

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26Oct2015

The IMF and Romania reached a staff-level agreement to unlock the next tranche of the country’s precautionary 5 billion-euro loan, said the IMF’s Mission Chief Erik de Vrijer. The international lender is assessing the government’s…

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26Oct2015

The Cabinet of Ministers has approved the implementation of alternative energy projects in the Chernobyl Power Plant Zone of Alienation. The instruction proposes to allow the construction of photovoltaic power stations and wind farms in…

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26Oct2015

Due to the problems in Europe, many foreign banks that purchased financial institutions in Ukraine are considering options of either full sale of a bank or partial sale in the form of credit portfolios or…

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26Oct2015

CEZ AS, Czech Republic’s biggest power utility, plans to invest about EUR 400 million to complete a 600-megawatt wind park in Dobrogea, southern Romania, by the end of 2012. The total value of investment into…

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26Oct2015

Kirsan Ilyumzhinov, Former President of the Republic of Kalmykia in the Russian Federation, President of the World Chess Federation (since 1995) and multi-millionaire has acquired a 52.5% stake in Bulgarian fuel distributor Petrol Holding AD…

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26Oct2015

Six leading international oil and gas companies have bought documents for the tender for the development of the potential deep-water gas field off Bulgaria’s Black Sea coast. The companies are British-based Melrose resources, which is…

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26Oct2015

Hyosung Corporation, a South Korean chemical and trading company, may invest about $150 million in a factory in Romania, the Economy Ministry said in a statement. Seoul-based Hyosung plans to produce tire components and automotive…

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26Oct2015

OTP Bank, Hungary’s biggest bank, is seeking to double its share in the Ukrainian consumer – loan market this year as part of its expansion in the eastern European country. OTP, which entered Ukraine in…

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26Oct2015

Bulgaria’s finance ministry has selected BNP Paribas, HSBC and Raiffeisen as mediators for the eurobond issue that the country plans to float this year. The three banks have been appointed to advise the Bulgarian state…

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