By 1 January 2023, people will be able to choose the old rate or the new methodology to be used for calculation of the individual coefficient when granting their pension. This was decided by the deputies, who adopted at second reading amendments to the Social Insurance Code. In the old formula, apart from the three years between 1997 and 1999, all three years prior to 1997 are included. Future retirees will have to submit documents on the gross salary or income on which social security contributions have been paid after that date until 31 December 1999 inclusive. The petitioner Svetlana Angelova stressed that, within 6 months of the entry into force of the changes, the persons with applications for a pension related to labor activity with a starting date after December 31, 2018, as well as those who have such pension granted until the entry into force of the changes, may exercise their right to choose. In such cases, the pension will be granted in the new amount on the same starting date if this is more favorable to the person concerned. This ensures that pensioners have the right to a more favorable rate.

Nearly BGN 28 million have been spent on various measures, under the previous Energy Efficiency Program. Beneficiaries are the Bulgarian municipalities. "The positive effect of the previous energy efficiency program was significant," Minister Temenuzhka Petkova said. 52 grant contracts were implemented under the program. Energy-efficient activities are carried out in 115 buildings, which are municipal property. Of these, 40 are schools, 55 kindergartens, 8 medical centers, 12 social institutions and administrative buildings. A total of 71,809 tons are the carbon dioxide emissions saved. About 5,605 megawatt hours is the energy saved on an annual basis. The increased production of energy from renewable energy sources is 43,280 megawatt hours, the energy minister added.

China Machinery Engineering Corporation (CMEC) has signed a US 5.5 million Bulgaria port project construction contract with Logistic Center Varna EAD to jointly develop port infrastructure in Bulgaria’s Port of Varna. Notable as the first development by a Chinese company in Bulgaria, the project bolsters the country’s European ambitions and will see CMEC take charge of the project design optimisation, material supply, construction and installation as the prime contractor. The project will enable the port of Varna to be the first modern port equipped with warehouse facilities in Bulgaria. The overall project construction period will be 36 months. In addition to boosting its brand in Bulgaria, Central and Eastern Europe, the project is set to greatly improve cargo handling capacity of Bulgaria.

Valentin Zlatev is no longer the manager of Lukoil Bulgaria. By a decision of the sole owner of the company's capital - the Netherlands-registered Lukoil Europe Holdings BV, the contract of Zlatev was terminated on 19 April 2019 and he does not represent the Bulgarian company any longer. He will be replaced by 44-year-old Bulat Subaev, who was general manager of Lukoil CEE and Belgium, the Lukoil division for Central and Eastern Europe, for the past eight years. Prior to that, Subaev was the head of Lukoil's subsidiary in Belgium, according to Russian publications. The decision of the owner of Lukoil Bulgaria does not state the reasons for the replacement of Valentin Zlatev, who headed the company since 1999. According to unofficial information, the reason was an internal investigation of the long-standing representative of Lukoil Bulgaria for draining of its Bulgarian assets. Valentin Zlatev was reduced to chairman of the company's controlling board.

Romania plans to build 'as soon as possible' a new bridge over the Danube river linking Zimnicea, in Teleorman county, to the Bulgarian city of Svishtov, Romanian prime minister Viorica Dancila said. The project would be developed under a public-private partnership scheme. The Romanian government has mandated the ministry of transport and the National Commission for Strategy and Prognosis to take all legislative and organizational steps for the planned investment to be completed as soon as possible. Bulgaria and Romania are currently connected by two over the Danube - one between Ruse and Giurgiu and a second one between the cities of Vidin and Calafat. In November, Bulgaria's government said it would support studies for the construction of a second bridge connecting Ruse to Giurgiu.

Euro Alliance tunnels has completed two highway tunnels between Nis and Skopje last month. In a consortium with another Bulgarian company - Roads and Bridges, the specialized company for tunneling facilities participated in the project for the Autobahn in Serbia, which is financed by the European Investment Bank. The tunnels have a total length of 2.8 km and for them the union has received EUR 90 million. The plan is the highway between Grdelitsa and Vladichin Khan to be completed by 1 May.

The Bulgarian producer of high-quality servers and computer systems Persy invested nearly BGN 100,000 in a new modern base in Sofia, where it will test servers and computers with special software. "We did not have capacity because we test our products 72 hours before we hand them to our customers. The new base doubles the capacity, with a sound-proof coating, increased electricity capacity and a powerful cooling air conditioning system. Computers and servers are transported into it and tested with special software," said CEO Alexander Solomahin. Persy’s own computer and server configuration brand STINGER offers outstanding performance with load optimization and hardware-enhanced security. Systems allow a flexible approach to designing configurations suited to a wide range of tasks ranging from standard applications to critical business operations, real-time data analysis, and artificial intelligence. Persy has been on the market for more than 29 years and employs over 20 people. Certified by ISO 9001: 2015, ISO 27000, ISO 14000, AQAP for NATO quality standards.

President Nicolas Maduro is funneling cash flow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of the growing dependence of Venezuela's cash-strapped government on Russia as the United States tightens a financial noose around Maduro, who it describes as a dictator. With its economy reeling from years of recession and a sharp decline in oil production, Venezuela was already struggling to finance imports and government spending before Washington imposed tough restrictions on state oil company PDVSA in January. Oil accounts for more than 90 percent of exports from the OPEC nation and the lion's share of government revenues. Maduro has accused U.S. President Donald Trump of waging economic war against Venezuela. Since January, Maduro's administration has been in talks with allies in Moscow about ways to circumvent a ban on clients paying PDVSA in dollars, the sources said. Russia has publicly said the U.S. sanctions are illegal and it would work with Venezuela to weather them.

If fully enforced, the trade agreement struck between the United States, Mexico and Canada late last year "would have a positive impact on US real GDP and employment," the United States International Trade Commission (USITC) said in a report released Thursday. The United States-Mexico-Canada Agreement (USMCA) was signed on Nov. 30, 2018 by the three nations and still needs to be ratified by the three nations' respective legislatures before going into effect. The USITC said its model estimates that the USMCA would raise US real GDP by 68.2 billion US dollars, or 0.35 percent, and US employment by 176,000 jobs, or 0.12 percent. The deal, the report estimates, will see US exports to Canada increase by 19.1 billion, or 5.9 percent. It is also expected to enable the United States to sell an additional 14.2 billion dollars' worth of goods and services to Mexico, up 6.7 percent compared with the current level. As far as US imports from its two neighbors are concerned, the report projected that imports from Canada will increase by 19.1 billion dollars, or 4.8 percent, and from Mexico, up 12.4 billion dollars, or 3.8 percent.

The company is aiming to open two new hotels a week across the region this year alone as it looks to add 300 properties to its Asian portfolio by the end of 2020. The hotel chain is hoping to cash in on "the most exciting, dynamic market in the world," chief commercial officer Stephanie Linnartz told CNN Business in a recent interview. China — Marriott's top international market and the world's biggest source of outbound tourists — will get more than half of its new hotels in the region, but the company is also planning to grow in India and Indonesia. To win more Chinese customers, the company has been adding services that appeal to them directly. At one of its newest hotels, the St. Regis in Hong Kong, guests can call butlers using China's most popular messaging app, WeChat, along with other platforms like Facebook's WhatsApp. Hotels in cities like London, New York and San Francisco — all popular destinations for Chinese visitors — are also trying to make them feel more at home. Chinese travelers there are being welcomed by Mandarin-speaking staff, and offered Chinese newspapers, instant noodles and congee, a popular breakfast porridge.