Bulgaria’s and Romania’s railway companies are preparing to launch passenger trains along the Second Danube Bridge.
Another project is the restoration of the train connection between Sofia and Greece’s capital Athens via Thessaloniki, which was discontinued several years ago. Read more
Bulgaria’s hotels have reported revenue growth and increased number of tourists in Jan 2014, according to the National Statistical Institute.
In January 2014, 1886 tourist accommodation establishments-hotels, motels, camping sites, mountain chalets and other establishments for short-term accommodation have operated in the country. The total number of rooms was 55.2 thousand and the number of beds was 110.1 thousand, the NSI reports. Read more
The Bulgarian company Flipps Media attracted a USD 2.4M investment for the development of its mobile application Flipps, which turns the smartphone into a remote control.
This becomes clear from an announcement of the parent company of Flipps Media, Bianor Holding to the stock exchange.
The financing comes from the risk investment fund Earlybird and the Silicon Valley entrepreneur Tim Draper. So far this is the largest investment in a Bulgarian statrup company among the projects of the two investment funds – Eleven and Launchub, created under the JEREMIE initiative in 2012.
In 2012 Flipps Media received seed financing of USD 200 000 from Launchub and a group of “business angels”. Back then Flipps Media was evaluated at around USD 3M. In two years its price increased threefold and it is now evaluated at around USD 10M.
The new investment will cover the current expenses of the company.
The longest road tunnel in Europe will be built along the new stretch of the Struma highway in Bulgaria.
It will be underneath the Kresna gorge between Bulgaria’s towns Blagoevgrad and Sandanski. The total length of the two tunnels will be almost 37 kilometers.
The tunnels are required for environmental reasons and will be dug in at 30 meters underground. Read more