Last Issue    Subscribe NOW!    Analyses    Discover Bulgaria    Български  Archive
Business Industry Capital
ISSN 1311-364X
Monday, 09 January 2023, Issue 5855
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 



       Bulgaria
 
 On-line issue
 Bulgarian issue
 Unsubscribe



BNB Exchange Rates
(09.01.2023)
  EUR   1.95583  
GBP   2.21060
USD   1.86270
CHF   1.98280
EUR/USD   1.0500*
ECB exchange rate
Basic Interest Rate
  as of 01.01   1.42%  



Manufacture of weapons and ammunition
BEIS rating
Top 10 companies by
Total income
for 2021
(thous. BGN)
  
  1   Arsenal JSC - Kazanluk   509 488  
  2   Vazov Machine Works SPJSC - Sopot   191 779  
  3   Arcus JSC - Lyaskovetz   133 102  
  4   Dunarit JSC - Rousse   56 660  
  5   Sage Technologies LTD - Sofia   31 056  
  6   Terem Khan Krum SPLTD - Targovishte   5 190  
  7   Terem Letetz SPLTD - Sofia   4 361  
  8   Terem Ivailo SPLTD - Veliko Tarnovo   2 298  
  9   Electrical equipment SPLTD - Kovachevetz   1 745  
  10   Balista SPLTD - Kazanluk   1 689  
Make your own Bulgarian companies rating in BEIS



Financial news

According to data from the National Revenue Agency for 2021, 3,034,171 people declared taxable income. This is more than the working Bulgarians, who are about 2.3 million people, because tax is also paid by people who are outside the labor market - for example, tenants, contractors under civil contracts, etc. Income worth up to the amount of the minimum wage, which in 2021 was BGN 650, was received by 1,491,960 people, which is 49% of those who reported to the National Revenue Agency. 64.9% of people (1,969,733 people) took up to BGN 1,000 per month. Up to BGN 2,000 per month – 86.9% of people (2,635,975 people). This means that only about 13% of Bulgarians received more than BGN 2,000 per month in 2021, if tax-free income such as pensions, social benefits, scholarships are not counted. For comparison, in 2019 only 8.55% of Bulgarians received official incomes above this amount. In 2018, there were even fewer Bulgarians earning over BGN 2,000 - 7.2% of people with taxable income. Thus, in 2021, 211,740 people (6.98% of people) received between BGN 2,000 and BGN 3,000 per month, and between BGN 3,000 and BGN 10,000 - 163,337 people (5.38%). Over BGN 10,000 taxable income per month in 2021 was received by only 0.76% of people or 23,119 people.

Source: mediapool.bg

Bulgaria expects about BGN 1 billion for projects under the RePowerEU program of the European Union, which provides for a reduction of dependence on fossil fuels from Russia, announced the Acting Minister of Energy Rosen Hristov. Projects under this new program will be integrated into the Recovery Plan and is an option to renegotiate options in the document. Currently, projects related to energy efficiency, low-carbon fuels - green hydrogen, and others are being prepared, which will reduce our dependence on natural gas imports.

Source: investor.bg

Companies

The company "VITTE Automotive Bulgaria", which produces locking systems and other products for cars, will double its production capacity in Ruse, announced the manager of the company Hristo Hristov. On this occasion, Hristov and the mayor of Ruse, Pencho Milkov, signed a contract for the purchase and sale of 2 acres of property, which is privately owned by the municipality. A new company building will be built on the site. The beginning of construction activities will be set in the middle of the year, and the deadline for implementation is 12 months. This is the second expansion of the company after 2019. The reasons for it are high productivity, significant growth in turnover, which reached 183 million euros in last year. The main clients of the company are automobile companies such as "Mercedes-Benz", "Volkswagen", "BMW" and "Volvo". The company now has about 1,100 employees. After the expansion, another 300 people will be hired. The intentions of the management are for the turnover to reach 400 million euros, and by then the employees will be 1,500-1,600.

Source: mediapool.bg

The Commission for Protection of Competition has allowed "M Rent" EAD - Sofia to acquire sole independent control over "Eurolease - Rent a Car" Ltd - Sofia. The buyer carries out activities related to the provision of motor vehicles under the conditions of operational leasing, short-term rental of motor vehicles (rent-a-car), fleet management, as well as insurance mediation as an insurance broker. Direct independent control over "M Rent" is exercised by the sole owner of its capital "Leasing Finance" EAD. The main activity of "Eurolease - Rent a Car" is renting cars, as well as providing technical support for customers who have signed a long-term rental contract. The sole owner of its capital is "Eurolease Group" JSC - Sofia. "M Rent" and "Eurolease - Rent a Car" do not exercise control over other companies registered in the country. The two companies have concluded a preliminary contract for the purchase and sale of all shares of the capital of "Eurolease - Rent a Car". One of the conditions for the completion of the planned transaction is obtaining a permit from the Commission for the Protection of Competition.

Source: Banker

The Supreme Administrative Court (SAC) has finally confirmed the revocation of four licenses of "Eurofootball" and "National Lottery". The judicial panels of the SAC accept that, within the terms set by the State Gambling Commission, the two companies did not take action to repay or secure the overdue public receivables established by the NRA - for "Eurofootball" in the amount of BGN 328,882,670.98 in total (principal - BGN 261,164,891.87 and interest - BGN 69,304,242.84) and for the "National Lottery" - for two acts for establishing public state receivables with a total value of BGN 14,945,470.83 principal and BGN 4,015,495.73 .interest.

Source: 24 chasa

The Bulgarian retail chain Fantastico Group will invest around BGN 3 million this year to install two rooftop photovoltaic systems for its own needs, bringing the total to 14. The investment is part of over BGN 5 million, designed to increase energy efficiency over the next 12 months. The company's 12 existing rooftop solar installations, with a total rated output of 1,600 kWp, are expected to generate 1,800 MWh of green energy in 2023. This is nearly 10% of the total consumption needs of the supermarkets where the systems are installed. When all 14 plants are operational in 2024, Fantastico expects to produce around 4,200 MWh of electricity. Fantastico Group manages 45 supermarkets, most of which are located in Sofia, with a few in cities around the capital. The company also manages two restaurants from the MyChoice chain, the multi-functional entertainment center JOY STATION, the MegaXtreme chain of bowling alleys and the 27,000 square meter locations in the "Geo Milev" district of the SkyCity Mall shopping center.

Source: investor.bg

AES Galabovo thermal power plant provided a record amount of electricity for Bulgarian consumers in 2022. The two power units of the most modern coal plant in Bulgaria produced over 3,561,665 MWh of electricity last year. This is the largest annual production since the plant was put into commercial operation in 2011. The electricity generated in 2022 by the AES Galabovo TPP is about 8% more than the amount produced in 2021. In this way, the plant provided 9% of the total consumed electricity in Bulgaria. Thus, in 2022, every tenth kilowatt hour of electricity consumed in Bulgaria was produced by Bulgarian lignite coal at the AES Galabovo thermal power plant. AES Bulgaria is the largest investor in the energy sector in Bulgaria. The company is the owner and operator of the newest and most modern thermal power plant in South-Eastern Europe - TPP AES Galabovo and is the majority owner and operator of the largest wind farm in the country - "Sveti Nikola", near Kavarna.

Source: actualno.com


 

Indicative dates for holding the Spring REFA qualification course in Sofia on the topic:: Organization, management and optimization of production processes in the enterprise -

from March 6 to April 7, 2023 in Sofia

Participation Request:
Enrollments are made on a first-come, first-served basis, until the maximum number of participants in the course is reached!!

 
http://refa.bia-bg.com/, тел. 0888 924185, 02/980-10-90,

       Bulgarian Industrial Association




       World

Europe

Annual inflation in the eurozone is expected to fall to 9.2 percent in December from 10.1 percent in November. This is indicated by the preliminary forecast data of the European statistical agency Eurostat. In December, energy is expected to record the highest annual growth rate (25.7 percent, up from 34.9 percent in November). It is followed by food, alcohol and tobacco products (13.8 percent in December, at 13.6 percent in November), followed by industrial goods, excluding energy products (6.4 percent in December, at 6, 1 percent in November) and services (4.4 percent, compared to 4.2 percent in November). The highest annual inflation among the countries of the euro area in December was recorded in Latvia (20.7 percent), and the low in Luxembourg (6.2 percent), according to Eurostat data.
Source: 24 chasa

America

The sharp decline in the value of office buildings in the United States is likely to become a growing problem for the budgets of cities, schools and other institutions that depend heavily on the property taxes paid by the owners of these buildings, writes the Wall Street Journal. For a variety of reasons, property price declines are usually reflected in most IRS property assessments years later. Property taxes are the single largest expense for most office owners. Many hope it will be scaled back to make up for lost revenue from the sluggish return of office workers and the growing damage it's causing to local businesses that serve those workers. Recently, job cuts in the tech sector have reduced the demand for workspaces. At agencies that reassess property values annually, homeowner requests for tax assessments are up 30% to 40% from a typical year before the pandemic, reports Brian Frey, managing director of property assessments at consultancy CBRE. If building owners' requests for reassessments to lower their tax costs are successful, cities, schools, neighborhoods and other jurisdictions could face difficult decisions about whether to cut jobs or programs or find other ways to raise revenue. Many local authorities are adjusting to falling business property prices by automatically raising property taxes. This process is likely to accelerate in 2023 and beyond.

Source: investor.bg

Asia

Real wages in Japan fell in December at their fastest pace in eight years under pressure from rising inflation, according to a Labor Ministry report cited by DPA. December's year-on-year decline was 3.8 percent, following November's 2.9 percent year-on-year decline. The decrease is for the eighth month in a row, BTA reported. The data also show that in December, inflation in Japan exceeded a 40-year high and was well above the Bank of Japan's desired threshold of 2 percent.

Source: 24 chasa

 
Indexes of Stock Exchanges
06.01.2023
Dow Jones Industrial
33 630.61 (700.53)
Nasdaq Composite
10 569.30 (264.05)
Commodity exchanges
06.01.2023
  Commodity Price  
Light crude ($US/bbl.)73.72
Heating oil ($US/gal.)3.0112
Natural gas ($US/mmbtu)3.4460
Unleaded gas ($US/gal.)2.2540
Gold ($US/Troy Oz.)1 870.50
Silver ($US/Troy Oz.)23.98
Platinum ($US/Troy Oz.)1 104.40
Hogs (cents/lb.)80.58
Live cattle (cents/lb.)156.78

       Discover Bulgaria

The Lozen Monastery Saint Spas

The Monastery Saint Spas is situated at the foot of the Lozen Mountain just below the Polovrak Peak. It was founded in the time of the Second Bulgarian State. The monastery complex consists of church, residential and farm buildings. In 1382, during the seizing of Sofia and the Urvich fortress, it was robbed and destroyed by the Ottomans. After its rebuilding in the 17th century, a local literary school was established. The church is one-shipped and three domed, with measurements 14 to 7 meters. It was constructed in 1821 and painted in 1869. The wall paintings are still well preserved. Today the monastery is permanently going monastery for young girls. It has left rich artistic and cultural heritage, that’s why it was announced a monument of culture.


Subscribers of "Business Industry Capital" as of 09.01.2023
Bulgarian Issue: 30418, English Issue: 3207

BIC Capital Market Ltd. updated
the General terms and conditions for using information services and Privacy policy.

Published by BIC Capital Market Ltd., Sofia 1527, 76 Chataldzha Str,
tel. (+359 2) 980-10-90, fax 981-45-67, e-mail: bic@bia-bg.com, http://beis.bia-bg.com/
Copyright © 1999-2023. All rights reserved.


Archive
Business Industry Capital

Година:  
January 2025
 MTWTFSS
1  12345
26789101112
313141516171819
420212223242526
52728293031  

February 2025
 MTWTFSS
5     12
63456789
710111213141516
817181920212223
92425262728  

March 2025
 MTWTFSS
9     12
103456789
1110111213141516
1217181920212223
1324252627282930
1431      

April 2025
 MTWTFSS
14 123456
1578910111213
1614151617181920
1721222324252627
18282930    

May 2025
 MTWTFSS
18   1234
19567891011
2012131415161718
2119202122232425
22262728293031 

June 2025
 MTWTFSS
22      1
232345678
249101112131415
2516171819202122
2623242526272829
2730      

July 2025
 MTWTFSS
27 123456
2878910111213
2914151617181920
3021222324252627
3128293031   

August 2025
 MTWTFSS
31    123
3245678910
3311121314151617
3418192021222324
3525262728293031

September 2025
 MTWTFSS
361234567
37891011121314
3815161718192021
3922232425262728
402930     


 2025   2024   2023  
 2022   2021   2020  
 2019   2018   2017  
 2016   2015   2014  
 2013   2012   2011  
 2010   2009   2008  
 2007   2006   2005  
 2004   2003   2002  
 2001   2000   1999