As expected, during the corona crisis fewer and fewer people in Bulgaria have jobs, according to preliminary data from the National Statistical Institute (NSI) for the second quarter of 2020. This includes April - the only full month in which business restrictions imposed in an attempt to stop the spread of the coronavirus. Data on average gross wages show that they are still growing, but the rate is ten times lower than in recent years. Statistics show that at the end of June the number of employees decreased by 23.5 thousand, or 1% compared to the end of March 2020, reaching 2.24 million people. The largest decrease in the number of employees was observed in the sectors "Culture, sports and entertainment" - by 4.5%. The indicator is due to the fact that the blocking of activities in the sector lasted longer than other sectors. Theaters, dance halls, etc. could reopen at the end of May. A decrease in the number of employees was also observed in “Manufacturing” - by 3.5%, and “Mining and quarrying” - by 2.9%. The preparation for the summer season revives the hotel and restaurant industry, with the largest increase in the number of employees - by 8.4%. There is an increase of 5% in other seasonal activities, such as agriculture, forestry and fisheries.

In the first six months of 2020 exports of goods from Bulgaria to third countries decreased by 10.5% compared to the same period in 2019 and is worth BGN 8890.3 million, according to the National Statistical Institute. Bulgaria's main trade partners are Turkey, China, the United Kingdom, the United States, Serbia, Russia and the Republic of Northern Macedonia, which account for 54.0 percent of exports to third countries. In June 2020 the exports of goods from Bulgaria to third countries decreased by 18.1% compared to the same month of the previous year and amounted to BGN 1378.9 million. Imports of goods to Bulgaria from third countries in the period January-June 2020 decreased by 11.0% compared to the same period in 2019 and amounted to BGN 10,940.8 million. The largest is the value of goods imported from Russia, Turkey, China and Serbia. In June 2020 the imports of goods in Bulgaria from third countries decreased by 6.2% compared to the same month of the previous year and amounted to BGN 1803.0 million.

Bulgarian state-owned Electricity System Operator (ESO) said that its net profit jumped to BGN 27.2 million in the first half of 2020 from BGN 7.2 million in the same period of 2019, due to a decrease in expenses. ESO's operating revenue edged down to BGN 304.3 million in the first six months of the year from BGN 310.1 million in the comparable period of 2019. The company lowered its operating expenses to BGN 274.1 million in the review period from BGN 303.1 million the year before. ESO's assets grew to BGN 2.75 billion at the end of June from BGN 2.71 billion at the end of 2019.

The copper mining company Aurubis Bulgaria has increased its production by the end of June. This is shown by the report of the German group Aurubis, which owns the plant in Pirdop, for the nine months of the financial year 2019/2020. The growth comes after a year ago the Bulgarian company had a temporary suspension of repair work and volumes were lower then. Due to the higher prices of precious metals, which the group produces in some of its plants, the revenues of the segment to which Aurubis belongs increase by 5% on an annual basis. The processing of copper concentrate in Pirdop has increased by more than a fifth for the first nine months, and in just the three months from April to June this year volumes have increased by 63%, mainly due to weaker repair results last year. This offset the smaller quantities processed at the Hamburg plant, where there was a halt for scheduled repairs in the first financial quarter (October-December 2019). Revenues in the Metals Refining and Processing segment, which includes six other Aurubis plants, increased by 5% to nearly EUR 8.2 billion in the first nine months. The main reason for this is the higher prices of the precious metals that Aurubis produces. Revenues of the whole group increased by 2% to EUR 8.9 billion. Operating profit before taxes (EBT), which is one of the key indicators monitored by shareholders, increased by 6% to EUR 133 million.

The Government reaffirmed its consent for the participation of Fund Manager of Financial Instruments in Bulgaria EAD (Fund of Funds - FoF) in alternative investment funds. The current permit was in compliance with the new Regulations for implementation of the Law on Public Enterprises. It is necessary to ensure timely, effective and lawful implementation of the equity instruments under the Operational Program "Innovation and Competitiveness" (OPIC) 2014-2020. The FoF has a permit dated July 26, 2019, granted on the basis of an already repealed legislation. Based on it, the company participates in three alternative investment funds for the implementation of financial instruments. The alternative investment fund is a commercial company established jointly by the FoF - as a public investor, and private investors. The fund is managed by a financial intermediary selected through a public procurement. In accordance with the investment strategy to the financial agreement between the FoF and the Managing Authority of OPIC 2014-2020, five instruments for equity and quasi-equity investments are implemented through alternative investment funds. The total public resource set aside for this purpose is approximately EUR 150 million. Fund Manager of Financial Instruments in Bulgaria EAD is a company with 100% state participation in the capital. The rights of the state in it are exercised by the Minister of Finance.

The megastructure Bulgarian W&S Holding SPJSC, which the state created after the water crisis in Pernik, will have a new office in the center of Sofia. The government ordered public state-owned property to become private state property and to be transferred to the holding - as part of its capital. It is not clear from the announcement of the press center at what amount the property is valued, i.e. by how much the capital of the holding will increase. When it was created, it was BGN 1 billion, allocated from the state budget - according to the words of the regional minister Petya Avramova at the presentation of the decision for its creation. The holding receives a property in the very center of Sofia - at 11A Paris Str. The area is 703 square meters, together with two administrative buildings and movables located in them. It will house the administration of the new mega-company, which according to the plan, should consolidate the state shares in the water supply and sewerage companies on the ground and take care of the infrastructure centrally, which should happen within 6 months of its establishment. The principal of Bulgarian W&S Holding is the Ministry of Regional Development and Public Works, which so far holds... the state participation in the water supply and sewerage companies on the territory of the country, whose capital will enter the holding.

The Financial Supervision Commission (FSC) confirmed the prospectus for initial public offering of Square Cube Properties JSC, a decision of the Commission published on its website shows. The company will issue 6 million ordinary, registered, dematerialized, freely transferable shares with the right to vote and nominal and issue value of BGN 1 each. The offer is in implementation of a decision of the general meeting of the company to increase the capital from the end of May 2020. Square Cube Properties is a newly formed real estate investment company, registered in May 2020. The capital amounts to BGN 50,000. The company is represented by Milijo Milev, who manages the construction company Yves Stroy Commerce. The board of directors also includes Todor Dabkov and Petar Skakalov. The company plans to invest the funds raised in land and the construction of gated properties.

UK economic output shrank by 20.4% in the second quarter of 2020, the worst quarterly slump on record, pushing the country into the deepest recession of any major global economy. This crash in GDP in the April-June period, compared with the first quarter, is the worst since quarterly records began in 1955. Industries most exposed to government lockdown measures to contain the coronavirus pandemic — services, production and construction — saw record drops. "Today's figures confirm that hard times are here," UK finance minister Rishi Sunak said in a statement. "Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will. But while there are difficult choices to be made ahead, we will get through this, and I can assure people that nobody will be left without hope or opportunity." Compared with the end of 2019, UK economic output fell by a cumulative 22.1% in the first six months of 2020, a worse outcome than Germany, France and Italy, and double the 10.6% fall recorded in the United States, the Office for National Statistics said.

Liberty Global announced that it will be purchasing Swiss operator Sunrise Communications for a sum of 6.8 billion Swiss francs (around $7.4 billion). The deal comes as something of a role reversal for the two companies; just last year, Sunrise was preparing to spend just over $6 billion to purchase Swiss cable unit UPC from Liberty Global. However, the deal ultimately fell through due to Sunrise’s largest shareholder, Freenet, disagreeing with some of the terms. However, Freenet has no such qualms about being bought out by the American company, and has signed a binding, unconditional agreement to sell the shares for the agreed price, according to Liberty Global. The deal will have a significant impact on the Swiss market. Incumbent Swisscom has long been the dominant force in the country, controlling around 60% of the mobile market; Sunrise, while the second largest player, controls only around 25%. However, bolstering this second place contender with the final incorporation of UPC’s cable assets could turn the merged entity into a major threat for Swisscom.

A recovery in China’s car sales accelerated last month, signaling the world’s biggest auto market is emerging from a two-year slump as the economy improves and pandemic restrictions ease. Retail sales of sedans, SUVs, minivans and multipurpose vehicles increased 7.9% in July from a year earlier to 1.63 million units, the China Passenger Car Association said. The sales trend had been improving on a monthly basis since March before a 6.5% drop in June. The car industry is betting that the reopening of showrooms and malls as the coronavirus pandemic eases in China will lead to a sustained increase in demand. The outbreak exacerbated a slump brought about by a slowing economy, trade tensions with the U.S. and stricter environmental standards. Yet challenges remain: the economy is still recuperating, and new technologies such as electrified motors may be prompting some buyers to put off purchase decisions until more models with such features have come out.