Arco Invest, the local subsidiary of Estonia s Arco Vara Group, has received EUR 16.5mn from Piraeus Bank Bulgaria to refinance an existing EUR 15.5mn loan for the construction of a residential building in the capital city of Sofia . The new agreement extends the deadline for the credit repayment by three years until 2015. The project is to be completed by end-June. The total investment is estimated at EUR 20mn.
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The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more
Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more
Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more