Bulgaria News 4 
Thursday, May 14 2009 Royal visit from Japan 
Photo: president.bg Prince Akishino and Princess Kiko of the Japanese imperial family arrived on a three-day official visit to Bulgaria on May 13, 2009 on the invitation of President Georgi Purvanov. The royal visit will mark the 50th anniversary of the resumption of diplomatic relations between the two countries. After conferring with Purvanov on May 13, the prince and the princess will visit Alexandrovo village in the eastern parts of Rhodope Mountains where they will inaugurate a replica of a Thracian tomb. The Japanese government has allocated $3.5 million for the restoration of the tomb. Next on their agenda is a visit to the town of Smoalyan and the Shiroka Luka village, both in the Rhodope, as well as meetings with Bulgarian students studying Japanese, Sofia mayor Boiko Borissov and former prime minister and former Bulgarian monarch Simeon Saxe-Coburg.
Monday, May 11 2009 Holy brothers Cyril and Methodius 
Photo MySpace.com On May 11 the Bulgarian Orthodox Church celebrates the memory of Cyril and Methodius. It is a special day in the calendar of the Bulgarian Orthodox Church marking an event of paramount importance in Bulgarian history, culture and tradition. This day is commemorated by paying tribute to the brothers who in the ninth century penned the Slavonic alphabet. Additionally, they contributed significantly to the cultivation of Orthodox Christianity among Slavic tribes in Bulgaria, Serbia, Ukraine and Russia and for their translation of clerical scripts from the Greek language. Pope Joan Paul II had them canonized them as saints in the early Medieval period for their literary and religious contributions, making them St. St Cyril and Methodius respectively. The brothers were declared co-patrons of Europe along with St. Benedict. On May 11th 1851, the Bulgarian school in the city of Plovdiv set the first celebration, dedicated to St. St Cyril and Methodius. The early Cyrillic alphabet was a simplification of the Glagolitic alphabet, which more closely resembled the Greek alphabet. It has been attributed to Saint Clement of Ohrid, a disciple of Saints Cyril and Methodius. However, recent studies have suggested that the Cyrillic alphabet was more likely developed at the Preslav Literary School in northeastern Bulgaria in the early 10th century and was named so in honour of St. Cyril. 
May 8, 2009, Friday Indian Company Set to Buy Bulgaria Pilotless Planes 
Photo by af.miAn unnamed Indian company is set to buy ‘pilotless' airplanes made in Bulgaria according to the Deputy Minister of Economy and Energy Yavor Kuyumdzhiev."An Indian company will be buying Bulgarian ‘pilotless' airplanes," Kuyumdzhiev announced following a meeting with representatives of the Indian company. "Today they will observe flight demonstrations and hopefully they will place an order," Kuyumdzhiev added, cited by Bulgarian daily newspaper Standart. He continued that the US Army Special Forces is utilizing the so-called 'soldier of the future': a piece of equipment produced at the Arkus military plant, located in the town of Lyaskovets in Central Bulgaria. "Bulgaria is a holder of a globally recognized patent for production of landmines that do not kill the enemy but only disconcert their psycho-motor functions by means of glaring light and deafening sound. Moreover, all NATO helicopters are using Bulgarian-made armour which sustains a surface-to-air missile attack," Kuyumdzhiev stated. He added that a Slovakian company was willing to invest EUR 600 M in human blood plasma production and transport and to this end will build four plants locally.
May 6, 2009, Wednesday Bulgaria Celebrates Army's Valour on St. George's Day 
Photo by webcrafts.bgBulgaria celebrates on May 6, the day of Saint George the Victorious, the valour of its army. May 6 has been pronounced Day of the Bulgarian army with a decision of the Bulgarian Cabinet in 1993. Since 1998 it is being marked as a national holiday. Saint George the Victorious (Pobedonosets), canonized by the Church because of his brave deeds, is usually painted on icons as riding a white horse with his lance stabbed in the throat of a beast - the dragon. Legend has it that the dragon used to attack the shepherds and their sheep and steal a sheep or a lamb. The shepherds were desperate. Then St. George appeared and killed the dragon. A special military parade in Sofia will mark the Army's valour day and Bulgarian colors will be sanctified. Bulgaria has been proud with a centuries-long history of not a single piece of military colors captured by the enemy on the battleground.Politicians and militaries will bow heads to pay respect to Bulgarian warriors who fell on the battlegrounds and will be blessed by Bulgarian Patriarch Maxim. The celebrations followed the tradition of a consecration ritual of the colors of military glory in front of the Monument to the Unknown Soldier in downtown Sofia. Wreaths of flowers will be laid at the monument on behalf of the state leadership. Hundreds of ordinary people and guests of the capital city are expected to watch the salute of guards of honor with the colors of twelve representative units. On the sidelines of the celebrations of the Day of Bulgarian army, May 6 marks also the national feast Gergyovden, the day of one of the most popular saints - St. George, who is among the few venerated by Christians and Muslims alike. The holy martyr St. George the Victor has been considered one of the most important Saints ever since Christianity became the official state religion in Bulgaria in the 9th century.In Bulgaria St. George is the patron of spring verdure and fertility, and of shepherds and farmers. His Day, May 6, is believed to set in summer and the new farming cycle. Several hundred thousand Bulgarians, including President Georgi Parvanov and Parliament Speaker Georgi Pirinski, celebrate their name days on Tuesday. A common ritual is to prepare and eat a whole lamb, which is an ancient practice possibly related to Slavic pagan sacrificial traditions and the fact that St. George is the patron saint of shepherds. Special place on the table is attributed to the ritual Gergyovden bread. All sorts of bread are made for the feast - the cross bread, the shepherd's bread, the large ring-bread, as well as small ones, or the special ring-shaped bun baked by the young wife in the house.
May 1, 2009, Friday Bulgaria Cheapest Destination for UK Tourists 
Bulgaria has been pronounced the cheapest destination, and a real bargain by a survey made by Post Office travel services.Ten typical holiday items and costs, including a meal out, postcards, English newspapers, insect-repellent and bottled water, will cost tourists just GBP 42,23 in Bulgaria, the survey showed.Bulgaria has ousted Thailand as the cheapest place for an overseas holiday, offering the best value out of 18 popular foreign destinations, the Telegraph Daily announced. Low prices combined with a favourable exchange rate make it top choice for money-conscious travellers, according to Post Office research.The findings could mean Brits heading to Bulgaria's Black Sea resorts instead of the Spanish beaches. Thailand, at GBP 43,92 for the 10 items, is the next best bargain destination, while South Africa (GBP 46,13) is in third place. Turkey and Croatia join Bulgaria as the best places in Europe for a bargain break, while France (GBP 78,30) was the most expensive eurozone country.Spain, at GBP 67,08, is the best-bargain eurozone country, closely followed by Portugal (GBP 67,47)
April 29, 2009, Wednesday President Medvedev: Bulgaria Relations Back on Track 
Photo by daylife.comBulgarian PM Sergey Stanishev's delayed meeting with Russian President Dimitry Medvedev took place late Tuesday in the Barbihka residence near Moscow. The half-hour meeting took place after the two delegations from Russia and Bulgaria had finished day long talks in Moscow. Medvedev informed Stanishev that he was aware of the success of the talks stating, "The difficulties have been cleared".Stanishev explained that the negotiations between Gazprom and the Bulgarian Energy Holding on energy project 'South Stream' had ended successfully. "I know that all negotiations are complicated, especially the ones held on corporative levels as each part defends its own interest. But it is the politicians who resolve the disputes," added Stanishev. Stanishev expressed before President Medvedev his content that Russia had accepted all Bulgaria's proposals.Stanishev left 'Barbikha' residence and made for Moscow to meet with Moscow mayor Yuri Luzkhov in his last official Russian engagement. Stanishev's visit to Russia had begun in controversy after Medvedev had cancelled their scheduled Monday meeting and after the international Energy Summit in Sofia, which was boycotted by Russia's Prime Minister, Vladimir Putin.
Monday, Apr 27 2009 Supermodels Unlimited takes on Teodora Kolcheva 
Teodora Kolcheva, a former winner of the Lady Bulgaria contest, has appeared in a photo session with American magazine Supermodels Unlimited. The magazine is a media partner for beauty pageants worldwide. In Bulgaria, Teodora Kolcheva happens to be the national director of the aforementioned contest. On this occasion, she opted to pose herself for the magazine. The magazine's American editors, staunch supporters of the idea that "models must be all natural " were reportedly "flabbergasted and mesmerised by the stunning beauty of the Bulgarian model". Kolcheva was spotted by American scouts of the magazine while receiving her international charity award, "Spirit of Hope". "I am delighted to have been invited by Supermodels Unlimited, especially because, thanks to that particular award, we represent the name and image of Bulgaria around the world," Kolcheva said in an official press release from Lady Bulgaria.
April 25, 2009, Saturday Bulgaria President: Sofia Summit Boosted US, Russia Dialogue 
Photo by BGNESBulgaria's President, Georgi Parvanov, declared Saturday that both USA and Russia were very pleased with the outcome of the Sofia Energy Summit. "I am happy to say I have been authorized by both the American side and the Russian side to express their satisfaction with the Sofia forum", said the Bulgarian President during his press conference at the closing of the "Natural Gas for Europe" energy summit. In his words, the energy summit gave an impetus to US-Russia dialogue and was the first occasion that the great powers had bilateral energy talks in years. President Parvanov was explicit that the final Declaration of the participants was the major achievement of the Sofia Energy Summit because it included the set of common principles and rules in natural gas policies, to which all 28 participants - producer, transit and consumer states - had acceded. The President did stress that the agenda of the Summit was centered exactly around the common principles in natural gas and energy policy, and not on specific energy projects even though those were indeed talked about in multilateral and bilateral meetings during the forum. Bulgaria's Deputy PM and Foreign Minister, Ivaylo Kalfin, pointed out the Declaration was the product of multilateral talks spanning over more than two months. He and the President explicitly thanked the representatives of the European Commission and the EU Council Secretariat for their help with the talks on crafting the declaration.Another major achievement of the World Energy Summit in Sofia, according to Parvanov, was the fact that small states definitely managed to get their voices heard.
April 19, 2009, Sunday Orthodox Bulgarians Celebrate Easter 
Thousands of Orthodox Christian worshipers in Bulgaria clutching candles crowded into churches Saturday night to hear the Holy Mass that celebrates Easter, the day when Jesus resurrected from the dead.At midnight sharp, when the mass was over, as is the ritual, the believers were asked to go around the church three times, with their candles burning. There is a belief that if you have been a good Christian, your candle will not go out no matter how strong the wind might be, because you have no sins. After all church ceremonies are over people gather around, exchange their colored eggs and carry out the ritual of cracking them. The eggs are cracked after the midnight service and during the next days. One egg is cracked on the wall of the church (and this is the first egg eaten after the long Great Fast). Each person selects his/her egg. The people take turns tapping their egg against the eggs of others, and the person who ends up with the last unbroken egg is believed to have a year of good luck. Bulgarian Orthodox believes star the preparations for the Resurrection Day with the Great Lent. Following the fifth Sunday of Great Lent is Palm Week, which ends with Lazarus Saturday. Lazarus Saturday officially brings Great Lent to a close, although the fast continues for the following week.After Lazarus Saturday comes Palm Sunday, Holy Week, and finally Easter itself and the fast is broken immediately after the Divine Liturgy. Easter is immediately followed by Bright Week, during which there is no fasting, even on Wednesday and Friday.Easter celebrates the resurrection of Jesus, which his followers believe occurred on the third day (counting inclusively) after his death by crucifixion some time in the period AD 27 to 33.
April 14, 2009, Tuesday Bulgaria, Qatar to Build Liquefied Gas Terminal 
Bulgaria's President and the Emir of Qatar agreed Tuesday in Sofia that a joint project of primary interest will the construction of a liquefied natural gas terminal.President Parvanov, and Sheikh Hamad bin Khalifa Al Thani, who has become the first Qatar head of state to visit Bulgaria, expressed their desire to boost the bilateral relations in the fields of energy, infrastructure, construction, transport, tourism, and health care. Parvanov emphasized Bulgaria's participation in large-scale energy project, whereas the Emir of Qatar expressed interest in recruiting highly qualified Bulgarian medical staff.The Emir also expressed the readiness of the Qatar Investment Fund to finance the realization of bilateral projects, and the desire of his state to establish privileged relations with Bulgaria. The Emir thanked Bulgaria for its intention to open an embassy in Qatar. The two sides are also expected to open a direct air route between the countries.
Apr 06 2009, Monday No worries about financial system, Bulgaria c-banker says 
Phpto by Nadezhda ChipevaBulgaria’s financial system and the central bank's balance sheet were in very good condition and there was no reason to worry about their health, Bulgarian National Bank (BNB) governor Ivan Iskrov has said. At a presentation of the events planned for BNB’s 130th anniversary, Iskrov said that many countries could only dream of the current state of the Bulgarian financial system. At the current stage, there was no reason to take more regulatory action, deputy central bank governor Dimitar Kostov said. Other European Union member states were tightening banking rules, but Bulgaria did not need to follow suit as it had already done that, including in terms of the capital requirement, according to Kostov. The EU’s total capital adequacy requirement is set at eight per cent. In Bulgaria the requirement is 12 per cent, but at the end of 2008, the capital adequacy ratio of the Bulgarian banking system was 14.86 per cent. Stringent policies and provisions worth about two to three billion leva provided Bulgarian banks with a comfortable buffer, Kostov said. The central bank has extended the regulatory period after which banks had to increase provisions on bad loans, which would enable lenders to be even more flexible with their capital, he said. The stable financial system and the BNB’s tight supervisory standards have mitigated the impact of the global financial and economic crisis, Iskrov said. He reiterated his earlier calls for the media to take the gloomy forecasts of foreign institutions and analysts with a pinch of salt, saying they were not familiar with the peculiarities of the Bulgarian market.
14 March 2009, Saturday Economy Minister: Bulgaria Banking System Indecently Healthy 
Photo by Dnevnik.bgBulgarian Economy and Energy Minister, Petar Dimitrov, has supported the Bulgarian banking system.Dimitrov also said that the country was on the verge of attracting a large number of multinational companies into the Bulgarian Energy market, at an upbeat meeting in Varna late Friday. Dimitrov stated that Bulgaria's banking system is, "not only healthy, but actually indecently healthy". He added that Bulgaria has had a regime of anti-crisis since 1997, so is currently coping well with the global financial problems."Bulgaria's banks made an overall profit of BGN 1.4 B in 2008 and at the moment we have a currency reserve of BGN 25 B and a fiscal reserve of BGN 8.4 B," Dimitrov stated in support of his positive mood, BGNES reported. Minister Dimitrov pointed out that Bulgaria's economic growth in 2008 amounted to 6% and that put it in third place in the EU. He added that due to the global economic crisis, Bulgarian economic growth for 2009 would drop to 2 or 2.5% instead of the previously forecast 4.5%. There was also positive news from Dimitrov on the subject of foreign investment. He said, "a few multinationals are already preparing to enter the Bulgarian energy market. Besides renewable energy sources, these multinationals are interested in investing in business construction, information and communication technologies." 
11 March 2009, Wednesday Warren Buffett subsidiary eyes Bulgaria 
Warren Buffett, pictured in 2003Berkshire Hathaway International Insurance Limited, a subsidiary of the investment company of US investment billionaire Warren Buffett, has expressed interest in entering the Bulgarian market. In a letter to Financial Supervision Commission, the insurer said it plans to write payment protection policies on the Bulgarian market. The firm says on its website it sells motor vehicle insurance in the UK. BHILL is one of 254 EU insurance firms that have said they want to set foot in Bulgaria under the single passport rule, which allows EU-registered banks and insurers to operate in any of the community markets without the need to apply for a local licence. French life insurer Axeria Prevoyance and general insurer Axeria IARD have already opened local branches. 
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