Belgian carpet weaving mill Roger Vanden Berghe will relocate part of its operations from Belgium to Bulgaria at an existing facility leased from sector player Decotex (BUL:4DE), the Bulgarian company said on Friday. 

The Belgian manufacturer has also acquired part of Decotex's assets. Decotex will continue to produce carpets but will also focus on its other core activities, including construction and property investments. 

Bulgaria's budget deficit came in at BGN 650 million in the first two months of 2011, Finance Minister Simeon Djankov said on Friday.

In February alone, expenditures outstripped revenue by BGN 170 million.

Experts from the ministry said, however, that by the end of March, when official figures for the second month of the year would be published, the gap could turn out to be BGN 100...

Nova Ljubljanska Banka (NLB) is on track to sell its Bulgarian unit, NLB Bank Sofia, the Slovenian bank said on Friday as quoted by Reuters. The bank is also seeking to offload its Austrian division, LHB Frankfurt, as well as its subsidiary in Germany, Adria Bank, as part of its measures to reinforce its capital base ahead of the Europe-wide stress tests. "Talks with a potential buyer of NLB Bank Sofia are in the last phase, while activities to sell LHB Frankfurt and Vienna's Adria Bank are under way," NLB said. NLB Bank Sofia is the 23th biggest lender in...

This procedure will make it possible for the creditor to claim his undisputed takings against debtors in all EU-member countries where the Regulation applies. The implementation of such legal procedure in the law systems of the European countries enables creditors to avoid the complex and differing from country to country regular civil law claims proceedings. Under the uniform procedure...