Sticking to the basics has kept Bulgarian banks going strong through the current crisis
Scarcely a day seems to pass without news breaking of yet another tectonic shift on Wall Street, but away from the tumult of the global financial crisis Bulgarian banks are still doing brisk business, posting a 10.5 per cent increase in assets during the second quarter of 2008.
Despite almost a decade of solid growth, Eastern European countries remain under-banked compared to the West of the continent and the US, but that might be just the reason the worst of the crisis would pass them by. Foreign banking groups that have expanded into the region never felt the need to use complex financial instruments, the cause of much of Wall Street’s troubles, when old-fashioned banking was enough to bring them solid revenues and profits.
“The new EU member states have been holding up well in the global financial turmoil,” news agency Reuters quoted International Monetary Fund regional representative for Central Europe and the Baltics, Christoph Rosenberg as saying.
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Thursday, December 04 2008
Expat of the Week
RosieP
I really enjoy walking and can't wait to move into my little house in Bulgaria! read more
What`s on in Bulgaria
Cultural Institutes
Save the planet, and Bulgaria What: A film by American director Tom Jackson, this tells the story of how petrol corporations damage the environment without reinvesting any funds to offset it. When: December 10, 6pm Where: Czech Centre 100 G. S. Rakovski Str, Sofia
Art
Buy yourself a little painting What: Victoria auction house organises its 15th auction of the works of classic Bulgarian and European painters. When: December 10, 6pm Where: Sredets Hall in Sheraton Hotel, Sofia
ALLA GEORGIEVA, LOVE AND EVIL MINDS What: This is the first solo exhibition by Alla Georgieva since 2003. Born in Ukraine, the artist lives and works in Sofia. When: Until December 20 Where: ARC Projects, 90 Vitosha Blvd, fourth floor, Sofia
ARTCHITECTURA What: Known as a successful graphic artist, with this solo exhibition Robert Barumov reveals a new dimension to his talent, that of a painter. When: Until December 12 Where: Gallery Paris, 8 Parizh Str, Sofia
THE WORLD OF IVANKA SOKEROVA What: Ivanka Sokerova (1926-1993) is a little known artistic figure of admirable stoicism, working only with her left hand, the artist creates ceramic pieces, collages, drawings and writing. When: Until December 15 Where: Sariev Gallery, 40 Otets Paisii Str, Plovdiv
FROM YOUR DAUGHTER WITH LOVE What: Until December 20 When: Iva Yaranova has titled her exhibition Happy Birthday, Mom. Where: 16a Iskur Str (entrance from Budapeshta Str), Sofia
Museums
Archaeological treasures What: A private archaeological collection of special value will be on display for the enjoyment of guests and residents of Bulgaria's Black Sea capital. The treasures belong to the brothers Bobokovi, from Rousse, who had been collecting items for 20 years. When: Until April 2009 Where: Varna Archaeological Museum, 41 Maria Louisa Blvd, Varna
SIEMENS TECHNOLOGY AND ART What: The theme of this exhibition is 130 years of Siemens in Bulgaria, intertwining historical periods with development of the local art scene. Works by Bulgarian contemporary artists such as Ivan Moudov, Boryana Pandova and Krassimir Terziev are displayed. When: Until December 14 Where: Sofia City Art Gallery, 1 Gurko Str, Sofia
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Bulgaria Finmin shoots down proposal to change bourse management.. 
Cultural Institutes
Art
Museums