Archive for the ‘World news’ Category

How to Extend Your Business on Other Markets

Wednesday, July 17th, 2019

Businessmen can expand their companies on foreign markets through several options. For instance, they may register one of the legal entities that are available on those markets; however, they may also opt to incorporate a branch office or a subsidiary, which are two types of business structures that are especially designed for foreign companies expanding on foreign markets. There are various advantages for each of these structures and the selection should be based on the costs associated with the expansion of the company, the liability of the parent company, the types of services or products the company offers and numerous others.

Incorporating a branch/subsidiary

The branch office and the subsidiary are business entities that can be found in all the member states of the European Union (EU), but they may also be set up in Asian countries and other regions. The incorporation procedure varies from country to country, but in Europe, the registration requirements are basically the same, considering that the EU has a unitary legislation.

As a general rule, the registration of a branch in Europe is comprised of specific corporate documents. For example, in Malta and in other European countries, the investors will need to provide a copy of the certificate of incorporation of the foreign company, a copy of the parent company’s bylaws and also a certificate of good standing of the parent company. A branch office in Malta must also have a representative, a legal requirement that can also be met in other European countries.

However, the most common way to start a business in most of the countries is by registering a limited liability company (its name may vary depending on the country where the investors will operate). This entity has a set of advantages and certain European countries (such as Ireland or Romania) offer various types of limited liability companies, designed for certain categories of investors or business activities.

The limited liability company is the preferred legal entity across the world as it is designed for small and medium-sized companies, which carry business activities in any given economic sector. For example, the limited liability company can be used for starting a dental clinic, a florist business, a real estate company, a retail company and numerous other businesses.

In other regions, such as the Cayman Islands, the most common way to start a business as a foreigner is by opening a non-resident company. This type of company offers limited liability to its founders and it provides a set of tax exemptions. More importantly, it can be started by a single shareholder and it is not required to subscribe a minimum share capital. The manner in which an investor expands his/ her business activity should always take into consideration the commercial legislation available in a given country and the advantages provided by each business form.




An Accident Left Three Metropolitan Districts without Electricity

Wednesday, July 17th, 2019

High-voltage power lines accident, owned by the State Electricity System Operator, led to the exclusion of the Boyana substation in Sofia, CEZ reported. “Boyana” square, “Cinema Center” and part of “Manastirski livadi” in the capital are without electricity.

CEZ mobilizes all of its available teams to provide alternative power to the affected users as soon as possible, from the company assured.

Until the accident has been rectified, the company will maintain the supply of power to a backup scheme.


A Free Hepatitis C Research Campaign Starts Tomorrow

Wednesday, July 17th, 2019

A “Let’s find the missing 69,000″ campaign which aims to detect hepatitis C infected patients starts. Free examinations will be provided within the framework of the initiative, which will start tomorrow and will continue until the end of August. The campaign targets people between 34 and 69 years of age. The research will be carried out at the St. Ivan Rilski Hospital in Sofia every working day from 8.00 to 14.00.

According to official data, nearly 77,000 Bulgarians are infected with hepatitis C, but 90% of them – 69,000, do not suspect that they carry the disease virus, the specialists from the hospital said.

“Our goal is to find the infected, especially in risk groups – drug addicts, prisoners, hemodialysis patients,” said Prof. Krasimir Antonov, a gastroenterologist at the hospital. The hepatitis B and C treatment is paid by the NHIF for health-insured patients, but there are discussions about the treatment of uninsured people, said Dr. Tonka Varleva, director of the Prevention and Prevention Directorate at the Ministry of Health. According to her, by the end of July a draft National Plan for the Prevention and Control of the Five Types of Hepatitis A, B, C, D and E. will be elaborated.

Around 1,200 hepatitis C patients are treated with the latest therapy, which is fully paid by NHIF, Elena Toteva from the National Health Insurance Fund (NHIF) said. She also noted that the Fund pays about BGN 50 mln a year for therapy. In the next year, NHIF is expected to pay for hepatitis C patients who have not responded to the therapy, she added.

Doctors and patients propose the hepatitis C study to be included in the national hepatitis C prevention plan and to be included in the complete blood count (CBC)t in the prophylactic package.

In September, data on the spread of hepatitis C in EU countries will be clear, Dr. Vorleva said.


The Arrested for the Cyber Attack Against the National Revenue Agency also Hacked the Ministry of Education and Science 2 Years ago

Wednesday, July 17th, 2019

The 20-year-old computer specialist, arrested in connection with an unprecedented cyber attack against the National Revenue Agency, has previously attacked state institutions, bTV reports.

According to them, in 2017, as a pupil, the detainee broke the protection of the website of the Ministry of Education and Science. The case gained media coverage, and the agency even invited the young person to take part in the procedures for protecting and storing information. Today, the hacker named Christian works in a company in Sofia, which is testing the safety of computer systems. He was arrested at his workplace. He doesn’t have a criminal record.

Details of the attack are yet to be clarified, including if the young man was working alone or in team and whether there was an internal man who helped them.


The National Assembly Will Discuss the Financing of Political Parties once again

Wednesday, July 17th, 2019

According to BNR, the Bulgarian National Assembly is expected to include in its agenda President Radev’s veto on amendments to the 2019 Budget Law which allows the financing of political parties by donations from legal entities and sole proprietors.

According to Bulgaria’s head of state Radev, the latest amendments make the political parties dependent on business and we should oppose to the threat of a possible merger between party and state, which is forbidden by the constitution.


5 Interesting Food Festivals from Around the World

Wednesday, July 17th, 2019 has prepared a list of 5 culinary festivals that all culinary tourists would definitely like to visit.

See who they are:

1. St. Anthony’s Day in Lisbon – Portugal

Every year in June, this Lisbon festival honors St. Anthony of Padua, its most revered Patron Saint, with a holiday, lavish street celebrations and huge block party, with sardines and basil being the main part of them. From July 12-13, over 50 street events give a festive atmosphere to the beautiful historic districts of Alfama, Castelo and Madragoa. Long tables of street vendors sell beer and sangria for everyone to enjoy. The air is filled with the aroma of grilled sardines, which are the main food that is consumed during this colourful celebration.


2. The Asparagus Festival in Schwetzingen, Germany

There is hardly any other place where asparagus are as honored and loved as in Germany. Baden-W?rttemberg, however, is a leader in the cultivation of white asparagus that is magnified by connoisseurs because of its delicate taste. Schwetzingen, located in the northwest of Baden-W?rttemberg, around 10 km southwest of Heidelberg and 15 km southeast of Mannheim, prides itself as The Asparagus Town. There is also the annual celebration, which is held in May, with music and a ceremony for the designation of a new Queen of Asparagus.


3. The Truffle Festival in Piedmont, Italy

This fall festival in Piedmont features fine wines, exquisite wines, the rare and prized white truffle (that can only grow in nature) and much more to tempt the taste buds. The rich harvest of premium truffles has brought exceptional glory to the town of Alba in the Piedmont region of northern Italy. Every autumn there are celebrations dedicated to this rare and highly valued mushroom. They are held every weekend from mid-October to mid-November. The pride of the event is the market for valuable white truffles, located on the historic Cortile della Maddalena, in the heart of the Roman town of Alba.


4. The Hot Chili Peppers Festival in the Hatch Valley in New Mexico, USA

Hatch, New Mexico, might be a small town, but it is proud to be known as the “Chile Capital of the World,” as it is a major producer of several varieties of chile peppers.The town, whose population numbers only 2000 people, welcomes over 30,000 guests each year. The festival celebrates its hot pepper heritage during the Hatch Chile Festival, held during Labor Day weekend annually. From fresh roasted chiles to homemade salsa, festival-goers are in a for a hot and tasty weekend, USA Today wrote.


5. Feast of the Beaujolais wine in Beauvais, France

According to France-Voyage the New Beaujolais Festival takes place on the third Thursday in November every year, the date when wine-making ends and the wine can be sold. This fruity new wine is keenly awaited by wine-lovers, and is also a great reason to meet friends in a welcoming atmosphere. This festival is the occasion for many events in the Beaujolais area, where celebrations often last until the end of the week. The new Beaujolais is traditionally launched with Les Sarmentelles in Beaujeu, where a procession of barrels filled with flaming vine shoots takes place before the first barrels are drilledinto, when the clock strikes midnight.


6 Months Imprisonment for 7 Hooligans who Attacked Bulgarian FC "Levski" Supporters in Bratislava

Wednesday, July 17th, 2019

Police in Slovakia imposed sentences on the Krakow and Ajax fans. The hooligans will be in prison for 6 months after attacking Levski supporters last Wednesday in Bratislava. Four Dutchmen and three Poles will go behind bars. Sentences are final, Bulgarian newspaper “Trud” wrote.

“The court has decided to impose these sanctions on the accused, both in terms of the serious nature of their actions and as a general disincentive to the future,” a court spokesman in Bratislava acknowledged. In addition, the Dutch and Poles are forbidden to attend sporting events in Slovakia within the next 3 years.

We recall that the serious fight took place in the centre of the Slovak capital Bratislava against fans of Krakowia and Ajax Amsterdam with supporters of the Bulgarian FC “Levski”. Rapid police intervention prevented more serious incidents. 

Later, after it became clear that the detained Bulgarian supporters were not guilty, they were released. 


PM Borissov Is Delighted with the Hacker: He Is Unique, He Has to Work for the State

Wednesday, July 17th, 2019

The detained for the National Revenue Agency attack man is a very educated and capable youth who wants to prove his skills and abilities to the public – that became clear from Prime Minister Boyko Borisov’s comment at the beginning of the government meeting. Borissov did not conceal his admiration for the hacker’s abilities and regretted that he had not been attracted earlier to work for the state.

“It is unique to prove that you have the skills We have unique children because he is a young man. We have real magicians. They are very young, very gifted and very capable… Such cyber-security … that if he works for the state …! “, the prime minister said at the beginning of the government meeting. Borissov regretted that now the hacker will be investigated instead of being recruited to work for the state.

He paid attention to Finance Minister Vladislav Goranov to raise the salaries of such IT specialists so that they could not harm the state, but to work for security systems and services.


Galina Georgieva Is the New Member of the CEM from the Quota of the Parliament

Wednesday, July 17th, 2019

The deputies elected Galina Georgieva as a member of the CEM from the quota of the parliament.

She was proposed for the post by the chairman of the parliamentary committee on culture and media and GERB MP Vezhdi Rashidov, and in the hall received the support of 97 deputies. 57 voted against, 24 abstained. She should take the place of Ivo Atanasov, whose term expires.

Galina Georgieva is a bachelor of economics from the University of National and World Economy (UNWE) and has gained her professional experience by working in a number of media and telecommunication companies. She is currently working for the collective management of copyright and related rights, PROPHON, BGNES reported.

The other candidate was Iya Petkova-Gurbalova, elected by the BSP, but she did not get the required number of votes. According to the Radio and Television Act, the media regulator consists of five members, three of whom are elected by the National Assembly and two are appointed by the President. The current Chairperson of the CEM is Sofia Vladimirova.


The Government Has Granted BAS BGN 5 Million for Repairs

Wednesday, July 17th, 2019

The government has allocated an additional BGN 5 mln to the Ministry of Education and Science budget for the Bulgarian Academy of Sciences, Prime Minister Boyko Borisov announced at the beginning of the government meeting.

The meeting was also attended by the chairman of the Academia Academician Julian Revalski. The additional funds were granted after a conversation with Academician Revalski, Education Minister Krassimir Valchev and Minister of Finance Vladislav Goranov. The money will for emergency repairs of BAS buildings and museums. Revalski specified that these are the buildings of the BAS at Moskovska Str.

In front of the ministers, Revalski gave special thanks for the money on behalf of the academics. “This is a very important gesture in the years when we celebrate the 150th anniversary of the Academy, which is a recognition of science and attitude to the development of research.”