Bulgarians living and working abroad have once again transferred more than 100 million euros to their relatives and friends in our country, according to the latest data from the Bulgarian National Bank (BNB). The amount for October amounted to 119.2 million euros compared to 119.1 million euros for September and 117.1 million euros a year earlier. This is the 23rd consecutive month in which official transfers exceeded 100 million euros. For the ten months of 2025, the amount is already 1.206 billion euros compared to 1.204 billion euros for the same period in 2024. As of September, the most serious amounts were reported from the USA (200.4 million euros), Germany (196.5 million euros) and the UK (191.8 million euros), while from Spain they were 105 million euros. The top 10 countries are: Czech Republic (46.8 million euros), Belgium (40.8 million euros), Greece (31.8 million euros), Canada (30.1 million euros), Italy (24.9 million euros) and France (21.8 million euros). For the whole of 2024, the amount of emigrant funds reached 1.419 billion euros, with the USA, Germany and the UK again in the lead.

In 2023, a significant decrease in energy flows was observed in Bulgaria, according to the latest data from the National Statistical Institute (NSI) on the Physical Energy Flow Accounts. The extraction of natural energy raw materials from the environment decreased by 20.3% to 428,473 TJ, while the domestic production of energy products from economic activities fell by 17.3% to 891,627 TJ. The total consumption of energy products from economic activities and households on a resident basis also decreased by 12.9% to 1,191,615 TJ. For comparison, in 2022, compared to 2021, an increase was observed in all these indicators: the extraction of natural energy raw materials increased by 8.1%, domestic production by 19.1%, and total consumption by 12.1%. The data reflect the volatility of the energy sector in the country and fluctuations in the production and consumption of energy resources.

The Commission for the Protection of Competition (CPC) has conditionally permitted the pharmaceutical trader "Phoenix Bulgaria" to acquire control over 47 "Medea" pharmacies. The CPC is authorizing the transaction on the condition that specific measures to preserve competition are implemented. Within six months of the decision, "Phoenix Pharma" EOOD must submit to the CPC an amendment to the "General Terms and Conditions of Delivery", which will ensure the transparent and non-discriminatory distribution of the quantities of prescription medicinal products for which the company is the exclusive distributor on the Bulgarian market. The CPC will exercise constant control over the correct implementation of the undertaken obligation. An independent audit of the pharmacy software product of "Phoenix Pharma" will also be carried out within six months to ensure that the company does not gain access to data sensitive to competition through it. "Phoenix Pharma" will refrain from increasing the price for using the software product by more than 10% on an annual basis, and the increase in the price above this limit will be subject to notification and approval by the CPC. If the CPC establishes that the approved measures have not been implemented within the specified period or are only partially implemented, it will initiate proceedings to impose behavioral or structural measures, as well as property sanctions, if the other measures prove ineffective. The subject of the transaction are 47 "Medea" pharmacies in Sofia, two pharmacies in Pernik, one each in Kyustendil, Pleven and Stara Zagora. The transaction also provides for "Phoenix" to acquire equipment, installations and accessories, hardware, software, licenses, vehicles and other assets used in the activities of the pharmacies, as well as the e-commerce platform of "Medea".

The new Index 11 plant is part of the Bulgarian oil company Insa Oil family. It sets a new stage in the development of biotechnology in our country, turning a Bulgarian scientific discovery into a high-level business. The construction of the first plant in the European Union for the production of beta carotene from microorganisms continued for a year - a project that combines scientific innovation, high-tech production and strategic industrial vision. The technology underlying the production of Index 11 is an entirely Bulgarian development, implemented in close partnership between Insa Oil and the Department of Biotechnology at the University of Food Technology (UFT) - Plovdiv. The yeasts that produce beta carotene have been isolated and deposited in the National Bank for Industrial Microorganisms and Cell Cultures (NBPMCC). At this time, there are only two plants worldwide that produce beta carotene using biotechnological methods. One is located in Australia and its technology is based on unicellular algae, and the other plant is in the USA and was developed based on a type of mold fungus. The Bulgarian plant will be the third in the world and the only one in Europe. The technological process is patented and the plant already has the necessary European certificates for the production. For many people, beta carotene is simply Vitamin A, but the production of “Index 11” will find a variety of applications in the economy. For example, in the food industry it can be used as a coloring agent and antioxidant. For the cosmetics industry it can be the basis for the production of sunscreen and rejuvenating products - creams, serums and tonics. At the same time, in animal husbandry, the dry matter that will be produced in “Index 11” will be an invaluable nutritional supplement, including in the breeding of salmon and sturgeon fish. The yeast used in the process is a rich source of single-cell fats and contains over 40% omega-3 fatty acids and minimal amounts of omega-6, making it a valuable raw material for functional foods and nutraceuticals. From the residual biomass of defatted dry yeast, over 70% of highly digestible protein, comparable to that of eggs, can be isolated, which opens up the possibility of developing a new generation of single-cell proteins. Single-cell proteins are the basis for solving the global problem of feeding the population, eliminating dependence on climatic conditions and changes, seasonality, arable land, etc. The investment amounts to 25 million euros, and with the opening of the plant, about 70 new jobs will be created.

The Sofia Municipal Council (SOC) decided that the terrain on the corner of "Bulgaria" Blvd. and "Peyo Todorov" Blvd. will be reserved for landscaping, and the project for a 44-story skyscraper will be "moved" to "Mladost", where the investor will be compensated with a municipal property. The property in the "Strelbishte" district is owned by the construction company NIKMI. In exchange, NIKMI will receive two regulated land properties, private municipal property, in the "Mladost" district. They are located in the "Karo/NZP Iztok" area and have a total area of ​​10,425 sq m, which is more than twice the area of ​​the property in the "Triaditsa" district, which is 3,786 sq m.

Enery has secured green financing from DSK Bank for its flagship 600 MWh energy storage project in Nova Zagora. The financing will enable the construction and operation of a stand-alone 150 MW facility with 600 MWh storage capacity, with commissioning scheduled for March 2026. A key element of the deal is an innovative Virtual Power Purchase Agreement (Virtual PPA) with Vitol, which provides long-term and predictable revenues for the project. The project has its own substation and will be connected to a new 33/110 kV substation, part of the transmission grid. The Nova Zagora project creates a good foundation for the implementation of similar energy storage solutions and combined business models in Southeastern Europe.

Mladen Mihalev - Magjo now officially and solely owns the building that houses the headquarters of International Asset Bank on Sofia's Todor Alexandrov Blvd. This is done through the acquisition of "DLA Real Estates", which was previously owned by the Cypriot DLA Industries. When it was built in 2002, the building with an area of ​​10.4 thousand square meters was divided into two parts. The owner of one is the Spanish fund Litexco, and the other - First Eastern International Bank, which a few years later was renamed International Asset Bank. In 2015, the bank transferred its part in the building to the recently established "DLA Real Estates". At that time, the deal was for nearly 25 million leva. According to DLA's short balance sheet for 2024, the property in its assets was valued at 20.8 million leva, with the company having 13 million leva in liabilities. In June 2025, DLA acquired the remaining part of the building. The seller was Litexco Bulgaria, and the price declared in the Property Register was just over 11 million leva. The deal was financed with a mortgage loan for over 10 million leva from International Asset Bank. Thus, the now consolidated property became the property of Maggio. With a contract dated December 3, he purchased 100% of the Bulgarian DLA Real Estate from the Cypriot DLA Industries. The price was not disclosed in the contract, and the company's manager remained Teodora Vasileva-Zlatanova, who was also a representative of the Cypriot company. Mihalev himself has never directly appeared as a shareholder in International Asset Bank, and most shareholders have less than 10%. Among them is Maggio's wife Elena Mihaleva. The only shareholder with a larger share - 25% - is Dynatrade International, whose actual owner is declared to be the wrestling champion from the 90s, Valentin Yordanov. Mihalev's connection with the related insurance company Asset Insurance, where his daughter Joanna is a board member, is more direct. Here, the bank has 9%, with control being through other companies associated with it, such as Bent Oil (43%) and Stara Planina Hold (20%) and Hydraulic Elements and Systems (20%). International Asset Bank is one of the smaller players on the market - 11th in size with 3.4 billion leva in assets as of September, which gives it about 1.6% market share. For the nine months, it reported a profit of 37.6 million leva.

tbi bank repaid a bond issue worth 20 million euros, issued in June 2024 (9.0% annual interest) a year earlier. In September this year, the bank decided to exercise its right to early redemption of another bond issue for 10 million euros (issued in December 2023, with 9.5% annual interest). As a result, investors received a total of 30 million euros, and separately in 2025, tbi bank paid 5.3 million euros in interest to bondholders in the bank's issues. This year, the bank issued two new bond issues, attracting nearly 100 million euros in investments.

The shareholders of the online insurance sales platform Boleron AD have approved the issuance of convertible bonds, from which the company will raise just under EUR 5 million. The vote on the bond issue took place at the extraordinary general meeting held on December 19, 2025. The proceeds from the issue will first be used to fully repay all existing obligations under a loan granted to the company by ABFA Investments AD. Boleron will offer investors 4,950 bonds of EUR 1,000 each and with a fixed annual interest rate of 8%, i.e. seeking up to EUR 4.95 million. The issue is planned to mature and be repaid in a single payment on the second anniversary of its issuance. Bondholders may accept full redemption or conversion of each bond into 495 ordinary shares of Boleron from an increase in the company's capital, which will be carried out on the maturity date of the issue. However, partial conversion will not be allowed, i.e. a shareholder may choose redemption for a certain number of bonds held and conversion for the rest. The initial public offering of the convertible bonds will be serviced by Sofia International Securities AD Investment Company. The issue is planned to be placed through the growth market beam of the Bulgarian Stock Exchange. One right will be issued against one share held in Boleron's capital. With 999.406263 rights, 1 convertible bond can be subscribed at an issue value of 1,000 euros. The shareholders have also voted on changes to the statutes, according to which, if a buyer subscribes and pays for bonds for at least 4 million euros, the general meeting will dismiss Simeon Kostov from the board of directors and appoint Ivan Tserovski in his place.

The richest countries are not necessarily those with the largest economies, but rather those with the highest average income per person. For 2025, the International Monetary Fund (IMF), the World Bank, and other organizations use GDP per capita adjusted for purchasing power parity (PPP)—a measure that shows how much income is in real terms compared to prices in a country and how “rich” the average person is. According to the latest data for 2025, the 10 richest countries/territories in the world by GDP per capita include: Singapore, Luxembourg, Macau (China), Ireland, Qatar, Norway, Switzerland, Brunei, Guyana, and the United States. Singapore often ranks first in this indicator, ranking even ahead of Luxembourg, the traditional leader in many rankings. This is surprising because Singapore has no natural resources and relies on financial services, trade, logistics, and high technology. Luxembourg remains among the top countries not only because of its financial sector, but also because of its small population and large revenues from investment funds and banking, which “raise” the average indicator significantly. Macau, an administrative division of China, is an example of how tourism and gambling can generate huge revenues, positioning it among the richest per capita. Ireland, on the other hand, benefits from foreign investment in technology and pharmaceuticals, which increases the productivity and income of workers, although some of the wealth is created by multinational corporations. Names like Qatar and Norway prove another logic: countries rich in energy resources (natural gas and oil) maintain high economic value per capita, even if the population is relatively small. Switzerland is known for its banking system, pharmaceutical companies and innovation, which support the high incomes of its residents. Brunei, like Qatar, is distinguished by significant oil and gas revenues, which support high average incomes. One of the most surprising countries in the top 10 is Guyana. It is a small country in South America, but thanks to the discovery of significant oil resources, its economy is growing rapidly and has had a dramatic impact on GDP per capita. It is striking that the United States, despite being the largest economy in the world in terms of absolute GDP, does not rank first in terms of GDP per capita. This shows that large economies do not always guarantee the highest standard of living for each citizen according to this indicator. While the United States and China generate huge amounts of total GDP, they do not dominate in terms of wealth per capita – this indicator depends more on the population, the structure of the economy and the sector that generates value. Small countries often dominate in terms of wealth per person. Liechtenstein, for example, reaches even higher levels according to other measures of wealth, but is often not included in the official top rankings because it is a microstate with a very specific economic structure. Sectors matter: financial services, technology, energy, and tourism/gambling sometimes generate more income per capita than traditional industries, which changes the perception of “wealth.” This GDP per capita ranking gives an idea of ​​average well-being, but it also has limitations: It does not take into account income inequality; Small, wealthy groups can “artificially” raise averages; Other indicators such as the Human Development Index and median income provide a complementary picture. However, differences between countries show that wealth depends on structure, population size, global specialization, and economic policies, not just the size of the economy as a whole.

Japan's central bank raised its key interest rate to levels not seen in three decades and signaled readiness for further increases, taking another step toward ending its long-standing ultra-low interest rate policy. The Bank of Japan raised its short-term interest rate from 0.5 to 0.75 percent, the first increase since January. The decision was made unanimously. The move took interest rates in Japan to their highest level since 1995. In a statement, the Bank of Japan said that there was a high probability that the mechanism of moderate simultaneous wage growth and inflation would be maintained. According to the central bank, if the economic and price forecasts materialize, further interest rate hikes would follow, as real interest rates remain very low. The Bank of Japan maintained its assessment that core inflation would approach the 2 percent target steadily in the second half of the forecast period to fiscal 2027. The data showed that core consumer inflation in November was 3.0 percent, well above the central bank’s target. So-called core inflation, which excludes food and energy, eased slightly to 3.0 percent from 3.1 percent a month earlier. Analysts said the central bank is likely to maintain a cautious and gradual approach in further tightening monetary policy. After the announcement, the Japanese yen fell more than 0.3 percent to around 156 yen per dollar, while the yield on 10-year Japanese government bonds rose 3.5 basis points to 2.0 percent, its highest level since May 2006.