Foreign direct investment (FDI) in Bulgaria reached EUR 653.2 million for the first four months of the year, an increase of EUR 456.5 million (232%) compared to January - April 2021, when they amounted to EUR 196.8 million. This is an increase of more than three times, according to preliminary data from the Bulgarian National Bank (BNB), which is subject to revision in the future. The central bank estimates that in April alone the flow of FDI was negative and amounted to EUR 229.8 million, compared to a negative flow of EUR 47.3 million in the same month last year, which means that the increase is nearly five times. The share capital (transferred/withdrawn cash and in-kind contributions of non-residents to/from the capital and reserves of Bulgarian companies, as well as receipts/payments on real estate transactions in the country) is positive and amounts to EUR 32.5 million for January - April 2022. It is higher by EUR 248 million than in January-April 2021, which was negative in the amount of EUR 215.5 million. According to BNB data, the net inflow of foreign investment in real estate is minus EUR 5.3 million, compared to a negative net inflow of EUR 0.3 million for the period from January to April 2021.

For the first four months of this year, Bulgaria's trade deficit amounted to EUR 1.347 billion compared to a deficit of EUR 517.6 million for the period from January to April 2021. This is an increase of 160%, according to preliminary data from the Bulgarian National Bank (BNB) on the balance of payments. In April alone, the trade balance was in negative territory by EUR 225.7 million, while in the same month last year the deficit was EUR 4.5 million. This is an increase of over 4915%. The central bank estimates that the current and capital account is positive and amounts to EUR 325.1 million with a surplus of EUR 95.7 million in April 2021. For the first four months of this year it was minus EUR 859.1 million, while for the period from January to April 2021 the balance went up by EUR 358.6 million. In April alone the current account balance was up by EUR 163 million compared to a positive balance of EUR 86.9 million in April 2021. From January to April the current account was negative and amounted to EUR 626.8 million (0.8% of GDP), and for the same period last year the balance again went positive with EUR 122.1 million. 

The Ruse-based electric car manufacturer Sin Cars Industry has signed preliminary agreements for the supply, import and distribution of L CITY electric cars for Belgium, the Netherlands and Luxembourg, the company said. It is clear from its bulletin that it is also in negotiations with a potential partner in Germany. The Benelux Agreement covers all L CITY models, as well as spare parts and accessories under the L CITY brand. The two parties to the agreement are in the process of clarifying all the details of their future cooperation, and the final distribution agreements will be signed by the end of the year. The news of the agreement comes almost a year after Sin Cars entered the BEAM growth market on the Bulgarian Stock Exchange. One of the motives for Sin Cars to list on the growth market was to raise fresh capital to help it enter the German market. The other goal was to finance the expansion of its factory in Ruse and to robotize its chassis and component line. 

A startup company dealing with new and modern technology for product processing has submitted an official investment intention to purchase a plot of land in the Zagore Industrial Zone in Stara Zagora. This was announced by the executive director of the Zone, Radoslav Tanev. He explained that the investor intends to buy more than 4 decares of land, where a factory will be built to work in cooperation with local producers. The planned investment of the company amounts to over BGN 6 million, and the plans are to employ 100 people. The aim of the company is to export its technological production to a region with highly developed agriculture. The production will be exported. The entrepreneur wants to modernize his production, which has high added value. Eight properties have been sold in Zagore Industrial Zone so far, which will employ more than 400 people.

State-owned Bulgarian Development Bank's (BDB) National Guarantee Fund (NGF) said that it has partnered up with the leasing units of local lenders UniCredit Bulbank and OTP Bank in the initial stage of a new mechanism to provide lease financing to Bulgarian micro, small and medium-sized enterprises (MSMEs). The overall financing amounts to BGN 157.5 million. Other leasing institutions are expected to partner with the BDB on the development mechanism, which will enable the agreement of leasing transactions worth a total of BGN 315 million. UniCredit Leasing and OTP Leasing will be able to support leasing transactions capped at BGN 1.5 million, with the credit mechanism supporting up to 50% of the financed value of leased goods such as machines and equipment, vehicles or real estate. The mechanism will also lighten requirements for own financing by MSMEs, thus facilitating access to credit lines that can help small businesses upgrade their production processes amid the current challenging economic environment. Up to date, the NGF has backed only loans to companies from commercial lenders.

Bulgaria's Telelink Business Services (TBS) Group said that it will receive an additional dividend payout of BGN 10.4 million for 2021 from its subsidiary Telelink Business Services. The decision for the dividend distribution was adopted at a meeting of TBS Group's managing board on Friday, the company said in a bourse filing. Last month, TBS Group proposed to skip the distribution of any additional dividend on top of the already paid out six-month dividend of BGN 9.57 million announced in September 2021. The balance of TBS Group's 2021 standalone net profit of BGN 12.27 million will be allocated to the company's reserve fund. Shareholders in TBS Group will vote on the proposal at a general meeting scheduled for June 29.

Net profit in the amount of BGN 2.99 mln was reported by Albena JSC for 2021, the press center of the holiday village announced. Revenues from operating activities amount to BGN 51.89 mln. The company's assets are BGN 592.51 mln and the equity is BGN 480.6 thousand. The General Meeting of Shareholders voted to pay an annual dividend of BGN 0.10 per share. "The funds will be distributed after a two-year break in the dividend policy adopted back in time," the resort said. The decision comes at a time when the tourism industry is cautiously shaking off the economic consequences of the Covid crisis, but the ensuing war in Ukraine has lowered expectations for overnight stays in 2022 to about 70 percent of pre-pandemic 2019, they added. The resort has a relatively strong interest from Eastern European tourists, who generate about 40 percent of total sales, and especially from Romania - 37 percent.

Qatar announced that it has selected Italian energy giant Eni as its second foreign partner to develop the world's largest natural gas field, after the French company TotalEnergies was announced. "I am pleased to announce that Eni has been selected as a partner in this unique strategic project," Qatar Energy Minister and Qatar Energies CEO Saad Sherida Al-Kaabi told a news conference in Doha, announcing the second foreign partner. In the joint venture with Qatari energy giant, Eni receives just over 3% in the Nord Field East project, worth more than USD 28 billion, which aims to increase Qatari's liquefied natural gas production by 60% by 2027. The French company, whose contract with a term until 2054, was announced on June 12, will receive a larger share - 6.25%. This agreement will help the company compensate for the losses caused by its withdrawal from Russia after the start of the war in Ukraine. A third partner is expected to be announced.

For the first time, workers at an Apple store in the United States voted to join a union. On Saturday, 65 of the 110 employees at the store in Towson, Maryland, voted to join the IAM Machine Workers' Union. 33 people voted against joining. Workers are pushing for a joint determination of wages, working hours and safety measures. As a result of the decision, employees of the Apple store will create a branch of IAM after the federal authorities certify the result. IAM President Robert Martinez praised the "courage" of Apple employees. He said the victory represented "growing demands for unions in Apple stores and in various sectors of the economy across the country." Apple declined to comment. Employees at Apple stores in several US cities have tried several times to set up their own union sections. So far, however, there has been no vote.

Energy giant BP has announced a 40.5% acquisition at the Asian Renewable Energy Hub (AREH) in Western Australia. The project has the potential to become one of the largest for renewable and green hydrogen energy in the world. With the agreement, the British company became the largest shareholder in the center, along with Intercontinental Energy, CWP Global, Macquarie and Macquarie's Green Investment Group. In several phases, AREH plans to develop up to 26 GW of total wind and solar production capacity, equivalent to more than 90 terawatt-hours per year, which is about a third of all electricity produced in Australia in 2020. The hub can also produce up to 1.6 million tons of green hydrogen or 9 million tons of green ammonia per year. Intercontinental Energy, which will become the second largest partner in the project with a share of 26% of the capital, estimates that the Center's estimate is 36 billion dollars.