Market News

 After having a positive monthly budget balance in April, in May 2010 Bulgaria is back to registering a monthly deficit, announced the Finance Ministry.

ASH still blows around this Silk Road trading hub, just two weeks after the worst violence in Central Asia’s post-Soviet history. Yet on June 27th Kyrgyzstan’s diverse ethnic groups turned out to vote peacefully, in a referendum on their future government. Almost 70% of those eligible voted, roughly 90% in favour. Foreign observers congratulated the country’s interim leaders on a job well done.

The global economic downturn had a severe effect on Bulgaria’s economy, but brought about a welcome adjustment in some of the imbalances, says an analysis of the European Commission.

Russia has set up the first company to apply nanotechnology commercially. The move was announced yesterday by Anatoly Chubais, CEO of Rosnano and the Deputy Prime Minister, Sergey Ivanov. The first items coming from this world-class project will be nano-coated carbide tools to be used in machine-building industries.

Last weekend Austria became the center of the political and economical life of Europe, if not the world. Russia received two positive pieces of news from Austria. First of all, this wealthy and respected country joined the South Stream project. Second, Heinz Fischer, who has very good relations with Russia, will remain the President.

During the visit of President Dmitry Medvedev to Scandinavia this week, the public image of Russia was referred to on numerous occasions. It is clear that today, while the international media continues to attempt to paint a picture of a marauding, savage and dangerous monster to the East, this image is tied to myths which remain in the mist of the Cold War…and history.

Russia’s Finance Minister Aleksei Kudrin delivered his traditional annual speech at the Higher School of Economics in Moscow last week, in which he highlighted his vision of the pressing needs for Russia’s economy. We make a synthesis of these and add the opinion of another economic expert.

The number of Bulgarians who took trips abroad in 2009 is down 26% compared to 2008

The number of Russian billionaires has increased nearly two-fold in the past year, from 32 to 62 people. The top ten of Forbes’s “golden hundred” whose wealth grew most dynamically, made $70 billion more than last year. Total wealth of 100 wealthiest Russians has also increased two-fold, to $297 billion.

“I think Russia has the capacity to handle 25% or even more of the world's nuclear plant construction and operating needs,” Vladimir Putin stated during the launch of the second power unit of Rostov nuclear power station. The unit is the first reactor launched under the program for the development of nuclear energy production adopted in 2006.

KYIV, 15 April (BelTA) – Belarus and Ukraine have agreed to expand the bilateral cooperation. These are the results of the 18th session of the Belarusian-Ukrainian commission for trade and economic cooperation which was held in Kyiv on 15 April, BelTA has learnt.

MINSK, 15 April (BelTA) – Forming its stock market, Belarus will focus on issuing and floating eurobonds at present, Belarusian Economy Minister Nikolai Snopkov said at an international forum of the judiciary on 15 April.

Russia's recovery in industrial output this year may exceed gains in gross domestic product, as improvements in power generation and mining will be slow to lift consumer spending and employment, Alfa Bank said Friday.

Investments in Bulgaria’s industrial sector are down by 34% in 2009 compared to 2008, data form the National Statistics Institute shows.The data, collected through March 2010, further shows a forecast of another 14% reduction in 2010.

The European Commission has evaluated the Convergence Program submitted by the Bulgarian government under the Stability and Growth Pact as “adequate,” Finance Minister, Simeon Djankov declared.