Bulgaria, the newest and poorest member of the European Union, is emerging as a fiscal model for a number of EU countries struggling to fend off debt crises, The Wall Street Journal reported. Despite Bulgaria's budgetary rigor, other EU members' swelling debt burdens may end up foiling Sofia's aspirations to join the euro in three years. Bulgaria joined the EU in 2007 and posted the smallest budget deficit among the 27 member states last year, according to the finance ministry. It is expected to be the only EU nation to balance its budget in 2010.

British coffee retailer Coffee Republic said on Thursday its operating business had been bought out of administration by Arab Investment Ltd, a property firm best known for plans to build a London skyscraper, Reuters reported. Arab Investments said in a separate statement that it planned to expand the business, which currently includes 80 outlets -- around 60 in Britain and the rest in countries including Bulgaria and Saudi Arabia. Read more.