Businessman and underground figure assassinated in Sofia
Alexey Petrov, a businessman and a prominent figure in Bulgaria's post-communist transition, was shot dead while walking up Vitosha mountain just outside Sofia on Wednesday. According to initial information, the killing took place around noon and, in addition to Mr Petrov, a female companion was wounded. The exact relationship of the two victims is still to be determined. The police have not divulged much information since, likely to due to the ongoing investigation.
The killing comes after two failed assassination attempts in August 2002 and October 2015. In 2002, he was shot twice - but survived, while in the last attack against him seven years ago Mr Petrov's car was fired at with a grenade launcher. The perpetrator, Roman Logvinenko, was arrested and convicted in 2021, but released from prison in May this year.
Very little new information has emerged since Wednesday with key political figures, such as Kiril Petkov who are thought to have interacted with Petrov recently, remaining quiet.
Three Bulgarians detained in the UK, linked to Russia
Three Bulgarian citizens have been detained in the UK on charges of espionage for Russia. The arrests are part of a major national security investigation, according to the BBC. The arrests were made back in February of this year, but are only now being publicly announced. The three are still in custody, and the cases against them will begin in January. Espionage, where an agent is found guilty of aiding a foreign government, is punishable in Britain by a maximum sentence of 14 years. Those convicted of revealing a state secret can be sentenced to life in prison.
The Times reported that the trio has also been accused of posing as journalists from American television companies after Scotland Yard found forged press cards and branded clothing from the Discovery and National Geographic channels.
It has also been rumored, but not been proved, that the trio had links to Bulgarian pro-Kremlin party Vazrazhdane.
GDP growth falls to minimum
The slowdown of the Bulgarian economy, which began at the beginning of the year, continues in Q2. The country's GDP grew at a slightly slower rate compared to January-March - by 1.8% on an annual basis and by 0.4% on a quarterly basis, according to the statistical institute. The main driver of the economy continues to be consumption, but while its growth rate is slowing, that of net exports and investment is slightly higher.
The numbers were expected - early forecasts this year showed that the economy will slow to a growth of 1.3-1.8%. Factors such as the European economy, high inflation and the sharp rise in interest rates, and the slow recovery of China are all contributing factors.
However, the Bulgarian economy is currently performing better than the EU average - in the second quarter, the European GDP grew by 0.5% on an annual basis, and that of the Eurozone - by 0.6%, according to Eurostat's preliminary data.
Arms sales are booming
The state-owned VMZ plants which produces Soviet-type weaponry used in the war in Ukraine, continued its strong financial performance in Q2 of 2023. For the first half of the year, the Sopot-based company's net sales revenue increased by nearly 80% and reached BGN 392 million, driven by increased demand for special products. The arms dealer Kintex, however, continues to lose profits. The factories of the state-owned Terem - Holding reported mixed results - from a 202% jump in the turnover of the commercial Khan Krum to a drop of nearly 40% at Tsar Samuil.
Thus, towards the middle of the year, VMZ's turnover already exceeds that achieved in the whole of 2021. However, a comparison with the performance in the past 2022 is not possible, since for another year the Ministry of Economy, under whose hat the arms manufacturer falls, does not publish its annual financial statement. With these turnovers, however, it is not excluded that VMZ's record turnovers from 2016-2017, when they exceeded BGN 500 million per year, will be overachieved.
Final green light for the Saudi telecommunications deal
The road for the Saudi company TAWAL to the Bulgarian market is now free, after the Commission for the Protection of Competition allowed it to acquire about 3,200 telecommunication towers from the deal made months ago. The purchase is part of a larger €1.22 billion deal for a total of 4,800 towers in Bulgaria, Croatia and Slovenia with seller United Group (owner of Vivacom telecom in Bulgaria), which was announced at the end of April. The regulator made its ruling only at the beginning of August due to a dispute by Yettel Bulgaria.
When the transaction was announced, it became clear that TAWAL will buy the towers, the majority of which are in Bulgaria - about 3,200, and here Vivacom will use the infrastructure for rent through a long-term agreement. TAWAL also announced at the time that they would expand agreements with other telecoms to share the towers. Separately, the Arab investor will also build more than 2,000 new base stations for United Group in the three countries as part of its 20-year agreement.
Businessman and underground figure assassinated in Sofia
Alexey Petrov, a businessman and a prominent figure in Bulgaria's post-communist transition, was shot dead while walking up Vitosha mountain just outside Sofia on Wednesday. According to initial information, the killing took place around noon and, in addition to Mr Petrov, a female companion was wounded. The exact relationship of the two victims is still to be determined. The police have not divulged much information since, likely to due to the ongoing investigation.
