News Releases Recent global and local news releases issued by Ernst & Young.- Setting a positive example through corporate responsibility
Sofia, May 2009
On 16 May, we joined 1,400 others from the business community to take part in Volunteer Day, organized by Amcham and BCAF (Bulgarian Charity Association). The focus was on improving the environment, as well as the lives of children and the elderly. A team of 28 people helped out at the St. Sofia Center, which provides support to disadvantaged families. We planted a flower garden; prepared lesson materials; and made own donations of baby food and diapers. In addition, 12 of our people worked at the Darvenica home for the elderly, clearing the courtyard, weeding the garden, and planting flowers. - Promoting transparency
London, January 2009
Bulgaria’s emergence as a popular destination for foreign investment has seen a greater focus on the issue of transfer pricing. Alexandros Karakitis, from the tax planning and compliance practice of Ernst & Young Bulgaria, discusses developments in transfer pricing, hidden profit distribution and the permanent establishment practice of the Bulgarian tax authorities. - Strategic opportunities for oil and gas transactions in 2009
London, 26 January 2009
The volatility in oil prices and overall financial markets created a year of two halves for the global oil and gas industry.
Buoyed by a high oil price environment, in the first half of 2008 oil and gas deal activity was strong. However, the slowdown in the global economy resulted in fewer mergers and acquisitions (M&A) in the second half of 2008 resulting in 1,094 deals for 2008, down 29% from the record level set in 2007. The total value of oil and gas transactions for 2008 was US$179bn. - Ernst & Young welcomes prospect of a global accounting language but warns that 2009 will be a critical year for IFRS
London, 12 January 2009
Ernst & Young welcomes the fact that, despite a difficult year for companies and global economies, the major capital markets of the world are moving ever closer to adopting International Financial Reporting Standards (IFRS) as the globally recognized accounting language. But 2009 will be a critical year in this process, and the challenges now faced must not be allowed to derail the significant progress made to date.
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