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Business Industry Capital
ISSN 1311-364X
Tuesday, 21 November 2017, Issue 4595
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(21.11.2017)
  EUR   1.95583  
GBP   2.19904
USD   1.66016
CHF   1.67509
EUR/USD   1.1781*
ECB exchange rate
Basic Interest Rate
  as of 01.11   0 %  


Bulgarian Stock Exchange - Sofia - 20.11.2017
  Total turnover (BGN): 199 698.46  
Traded companies: 39
Premium 34 058.01
Standard 150 311.48
REIT 5 194.70
Bonds 10 134.28
Biggest change
Investor.BG JSC - Sofia 13.64 %
Intercapital Property Development REIT - Sofia -9.00 %
BaSE - Shares: 1 289.50

Wholesale of solid, liquid and gaseous fuels and related products
BEIS rating
Top 10 companies by
Net sales
for 2016
(thous. BGN)
  
  1   Litex JSC - Sofia   737 454  
  2   Rompetrol Bulgaria SPJSC - Sofia   499 663  
  3   Bent oil JSC - Sofia   301 306  
  4   Lukoil Aviation Bulgaria SPLTD - Sofia   194 565  
  5   Bulmarket DM SPLTD - Rousse   187 324  
  6   Toplivo JSC - Sofia   165 839  
  7   Zara E LTD - Stara Zagora   164 301  
  8   Gastrade JSC - Sofia   146 738  
  9   Naphtha Trading JSC - Bourgas   138 239  
  10   DMV SPLTD - Rousse   122 584  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Bul Invest Grup 2009 JSC - Sofia
Industrial and Logistik Park-Burgas JSC - Bourgas
Palmed JSC - Plovdiv
Top Build LTD - Varna
 
Forthcoming General Meetings



Financial news

The Bulgarian Industrial Association (BIA) says the minimum wage should be no higher than 43% of the average wage. They released a position paper Monday on a draft framework agreement on the procedure for determining the minimum wage. BIA argues that the proposed ceiling setting the minimum wage in the range of 40 to 50% of the average wage goes well over the ratio in the 22 EU member states applying a minimum wage (41-42%). This is why BIA wants the highest possible ration to be set at 42-43%. BIA says that up-to-date annual statistics needs to be provided from the National Revenue Agency database about the median and average wage, and the number of employed persons during the previous year, including detailed breakdown by municipalities and regions.

Source: BTA

The European Commission presented latest figures from the European Fund for Strategic Investments (EFSI) which is the basis of the Investment Plan for Europe known as the Juncker Plan. According to European Commission statistics this plan is expected to encourage European investments likely to exceed EUR 251.6 billion. The deals approved under the EFSI plan are to the tune of EUR 49.6 billion in the form of direct financing and have been concluded in all 28 member countries of the European Union. Financing of Bulgaria approved by the European Investment Bank via the EFSI fund was to the tune of EUR 344 million, and provided financial guarantees are expected to activate investments worth the total of EUR 1.561 billion. This places Bulgaria second among all EU member states in terms of activated investments via EFSI.

Source: BNR



Companies

The assets of Bulgarian share-focused investment funds grew 48.5% on the year to BGN 507.6 million at the end of September, central bank data showed. As of end-September, share-focused investment funds held the largest share of 39.9% in the assets of resident investment funds, up from 36.2% a year earlier. Assets of mixed funds increased 35.4% to BGN 255.5 million and those of bond-focused funds added 6.1% to BGN 506.2 million. Total assets managed by resident investment funds in Bulgaria totalled BGN 1.27 billion at the end of September, up 35% year-on-year. Assets managed by non-resident investment funds rose by an annual 32.9% to BGN 2.02 billion at end-September.

Source: econ.bg

The Bulgarian company Demax Holograms AD, which is a leader in protective holographic and nano-optical technologies, received a new world recognition. The prize was presented at the anniversary annual conference of the International Hologram Manufacturers Association in Barcelona, which celebrated 70 years of the first scientific publication on holography. Demax Holograms AD won the Best origination category for 2017 with its 1001 Hollars project and received a nomination for its second project K2.BG. Innovative high-tech projects of the Bulgarian company won in the highly contested competition with 47 other projects of leading companies from around the world in optical protection technologies. At the end of 2016, Demax Holograms AD, the only holographic production company in Bulgaria and Southeastern Europe, participated in the competition for the first time.

Source: 24 chasa

One year after Bulgarkonserv Rupite started a project for the modernization of its production, the first stage has been completed. The total investment is worth BGN 3.8 million, of which BGN 1.9 million is approved to be granted as EU subsidy, and the other funds are from the company. All available funds are invested in new machines and the project is implemented with credit from the Bulgarian Development Bank (BDB). The company for the production and trade of canned food applied with the project under the Rural Development Program (RDP) and in October, 2016 a contract was signed with the State Fund for Agriculture. Thus, in recent years, Bulgarkonserv Rupite’s sales in Europe and Bulgaria have increased considerably. Bulgarkonserv Rupite Ltd. was established near Petrich in 2007.

Source: investor.bg

The board of Bulgaria’s Energoremont Holding said that the buyout bid submitted by its majority owner Dietsmann is a fair offer to the company’s minority shareholders. Dietsmann is offering to pay BGN 4.15 per each of the 480,295 Energoremont Holding shares it wants to acquire, the Bulgarian company said in a bourse filing. Last week, the Financial Supervision Commission said it has allowed the publication of a revised buyout bid by Dutch-based Dietsmann for Energoremont Holding. Dietsmann revised its buyout bid earlier this month after its initial offer was suspended by the financial regulator in October.

Source: SeeNews

Candidate offers to buy the shares of the Sofia Municipality in Municipal Bank will be accepted by December 4. The scarcity of information from the procedure shows that the interested to acquire 67.646% of the financial institution’s capital are at least two. Up to this point, the Sofia Municipal Privatization and Investment Agency admits only strategic or financial investors that are eligible for participation in the tender. The minimum price for the share in Municipal Bank is BGN 45.65 million. The deposit for participation is EUR 3 million. Tenders will be accepted by banks or credit institutions with a rating of at least BB - on the Standard & Poor's (S & P) scale. Financial investors must be registered in a country of the European Economic Area, must have experience and specialization in such investments and must have a minimum capital of at least EUR 20 million. By the end of September, Municipal Bank has assets worth BGN 1.5 billion and is in 15th place in the country. Its profit for the nine months of the year is close to BGN 2.88 million. The bank has a modest share in the household and business loans and deposits market. Its main advantage is the financing and servicing of municipalities. Last year the positive financial result of the bank was nearly BGN 2.4 million.

Source: mediapool.bg

Bulgarian fuel and building materials retailer Toplivo said its consolidated net loss widened to BGN 3.5 million in the first nine months of the year from BGN 2.0 million in the prior-year period. Toplivo’s operating revenue increased to BGN 154.3 million in the January-September period from BGN 150.5 million in the like period a year earlier. Operating expenses rose to BGN 157.8 million in the review period compared to BGN 152.7 million a year earlier. Toplivo is majority owned by Synergon Holding, which held a 73.42% stake in the company at end-October. Earlier this month, Synergon Holding said it has sold its Chinese subsidiary Toplivo-Beijing.

Source: SeeNews



       Bulgarian Industrial Association

 

 

       World

Europe

Volkswagen raised its mid-term outlook for group profit and sales, sustaining investor hopes that the carmaker can further its recovery despite shouldering billions of costs for its electric-car offensive. The world’s largest automaker by sales announced on Friday more than 34 billion euros ($40.06 billion) of spending on zero-emission cars and digital mobility services by the end of 2022, revising up an investment pledge for more than 20 billion euros made in September. On Monday, VW said rebounding emerging markets such as Brazil and Russia and demand for new VW-badged sport-utility vehicles (SUVs) may together lead group revenue to exceed the 2016 record of 217 billion euros by more than a quarter by 2020. Eight months ago, the carmaker had guided for that benchmark to beat the 2016 result by more than a fifth. Similarly, it said 2020 operating profit (EBIT) could rise by 25 percent or more from the 7.1 billion euros reached in 2016 even as investments in electric cars and enhanced combustion-engine technology keep growing, VW said. That was a slight upward revision from the straight 25-percent gain it had predicted in March.

Source: Reuters

America

Walmart posted its strongest quarterly US sales in more than eight years as the company’s digital investments continue to pay off and as store traffic improved. The Arkansas-based retailer said its push to deepen its ecommerce business and catch up with Jeff Bezos’ Amazon drove online sales up by 50 per cent in the third quarter from a year ago. That helped Walmart deliver a 2.7 per cent increase in like-for-like sales, exceeding analysts’ estimates and rising by the most since its quarter ending in May 2009. Investors cheered the results, sending its shares up 8.3 per cent to $97.29, leaving the stock on track for its best day since May 2016. Walmart has aggressively invested in ecommerce and its grocery business as it battles with Amazon for retail dominance. The company last month snapped up Parcel, a New York-based same-day and last-mile delivery group, for an undisclosed sum in its latest big transaction. It will deliver general merchandise in addition to goods from Jet.com, the groceries and household supplies company Walmart purchased for $3.3bn in mid-2016.

Source: FT

Asia

Toshiba's stock plummeted Monday, after the company announced plans to raise $5 billion to avoid being booted off the Tokyo Stock Exchange. Shares in the Japanese firm fell more than 6% in Tokyo, before paring some of those losses to close down 5.8%. The drop comes a day after the troubled conglomerate announced it would sell new shares worth 600 billion yen ($5.4 billion). Toshiba will issue about 2.3 billion new shares priced at 262.8 yen ($2.35) per share. The firm has until next March to dig itself out of massive debt and get its balance sheet in order, failing which it will have to stop trading publicly. Seeking a major injection of cash is the latest survival move from Toshiba, which is dealing with a crippling financial crisis. The struggling company agreed to sell its prized memory chip business in September, to a consortium led by private equity firm Bain Capital and backed financially by Apple, Dell and other U.S. and Japanese firms. But regulatory reviews and a challenge from U.S. data storage firm Western Digital could delay the sale beyond the critical March deadline.

Source: CNN

 
Indexes of Stock Exchanges
20.11.2017
Dow Jones Industrial
23 430.33 (72.09)
Nasdaq Composite
6 790.71 (7.92)
Commodity exchanges
20.11.2017
  Commodity Price  
Light crude ($US/bbl.)56.47
Heating oil ($US/gal.)1.9300
Natural gas ($US/mmbtu)3.0300
Unleaded gas ($US/gal.)1.7400
Gold ($US/Troy Oz.)1 279.40
Silver ($US/Troy Oz.)16.94
Platinum ($US/Troy Oz.)930.30
Hogs (cents/lb.)68.48
Live cattle (cents/lb.)123.02

       Discover Bulgaria

November 21 - The Presentation of the Blessed Virgin Mary

On November 21 the church celebrates one of its biggest holidays – the Presentation of the Blessed Virgin. Anna and Joakim were childless for many years. They prayed in earnest that God grant them a child with a promise that should their wish be fulfilled they would pledge their child to his holy Temple. Faithful to their word, the parents presented Mary to the holy Temple at the age of three, on November 21 – to consecrate to God and to prepare for her divine mission of the Holy Mother. On that day the Orthodox church celebrates also the day of the Christian Family and the Christian Youth. The whole family going to church on November 21 symbolizes Mary’s entering the Temple and should remind parents of their spiritual responsibility to their children. The holiday refers to the coming winter and the expectation of the Church festivals of the Nativity.


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