Bulgaria’s jobless rate decreased by 0.3 percentage points month-on-month to 6.1% in May, the government's Employment Agency said. Year-on-year, Bulgaria's unemployment rate fell by 1.0 pp in May. There were 19,963 unemployed people newly-registered with labour offices countrywide in May. The number of people who found a job in May totalled 21,740. There were 21,301 registered job vacancies in May. The highest share of vacancies was registered in the hospitality sector, 25.1% of the total. Bulgaria, a nation of some 7.1 million, had a total of 3.28 million economically active people in the 15-64 years age bracket in 2017.

Concessions are the only source of income in the Silver Fund over the past five years. According to the latest data of the Ministry of Finance, at the end of May there the amount in the reserve fund is BGN 2.902 billion. The amount is about BGN 117 million more than at the end of 2017, with BGN 103 million of them coming from concessions. BGN 770 thousand are from the privatization, BGN 2 million revenues are from fines and sanctions related to the post-privatization process. By law, 25% of the realized state budget surplus has to be transferred to the Fund. However, the state budget differs from the consolidated fiscal program, which saw a positive budget balance for 2016 and 2017 after several consecutive years of deficits. Last year the surplus was BGN 845 million, or 0.8% of GDP. Of these, BGN 309 million is a surplus from the national budget and the remaining BGN 536 million from EU funds.

The biggest Bulgarian lead and zinc production company - KCM, has completed a project for the amount of BGN 22 million, which improves the possibilities for processing of various concentrates used in the zinc production. The project is financed entirely by own funds. In 2016 KCM reached a record zinc production in its 55-year history - 74,336 tons. By incorporating new capacities in the production process, the company has achieved a higher technological level of automation and digitization. The company has bought machines from European manufacturers from Spain, France and Germany. KCM JSC's "Technology Upgrades and Production Development" project started in 2008. Investments amount to BGN 200 million (EUR 95 million), for which a contract was signed with the European Bank for Reconstruction and Development and Unicredit Bulbank. The aim of the project is to achieve a modern, environmentally friendly and competitive production of non-ferrous metals, their alloys and chemical products. Its concept includes energy saving technologies, opportunities for processing of secondary materials, and reduction of greenhouse gas emissions. With this project, new plants were created to produce the two main metals produced in the plant - lead and zinc.

The Energy and Water Regulatory Commission (EWRC) has suggested an increase in the price of natural gas by 10.81% from July 1, lower than the 18,5% requested by public supplier Bulgargaz. This has transpired from a report published on Friday on the website of the Commission. Bulgargaz will sell natural gas at BGN 400.95 per 1,000 cu m or BGN 37.79 per MWh, excise duty and VAT tax excluded. Access and transit fees are not factored in the price. Bulgargaz requested a price of BGN 427.12 per 1,000 cu m, which is an increase by 18.05% from the current prices of BGN 361.82. The public supplier motivated the hike with the expected higher prices of alternatives fuels on the global markets respectively by 11% for mazut and 11.56% for gas oil which will lead to higher delivery prices by Gazprom Export by 11.5%. The Commission's experts agreed with the estimations of the gas supplier but argue that there are advance receipts from previous periods, so the increase wonТt be so steep. EWRC's proposal will be discussed by the end of June. The price of heat energy will likely go up as well.

The production of electronic components is making Botevgrad an economic center of the region. The town is prospering against the backdrop of the huge unemployment in Northwest Bulgaria. According to the Mayor of Botevgrad Municipality, the city is registering very low unemployment (5%) and offers a large selection of jobs. In addition, a contract worth BGN 9.6 million was signed a month ago for the construction of a composting plant and a pre-treatment plant for municipal waste in the municipality of Botevgrad. The aim is to reduce the amount of landfilled household waste by providing additional pre-treatment capacity. The composting plant for separately collected green and/or biodegradable municipal waste has a capacity of 2,700 tons per year and will serve 32,500 inhabitants from the municipalities of Botevgrad, Etropole and Pravets.

The Bulgarian Energy Holding (BEH) started a series of meetings with international investors in connection with the planned issuance of Eurobonds worth EUR 500 mln. The series of meetings will begin in London and will continue in Frankfurt and Vienna. Following the successful conclusion of the negotiations, BEH will issue new 7-year and 10-year Eurobonds. BEH has hired Citigroup and First Financial Brokerage House to direct the forthcoming bond issue that is needed to refinance the company's 5-year Eurobond debt of EUR 500 million due in November this year. It will refinance the EUR 500 mln bond loan that the holding company issues in 2013 at a yield of 4.25%. BEH also sold a second bond issue two years ago worth EUR 550 million at a yield of 4.88%, maturing in 2021. The expectations are by refinancing the first BEH emission to save service fees. The holding plans to double listing of the new Eurobonds on both the Bulgarian and the Irish Stock Exchange. Through BEH the state owns the biggest energy companies in Bulgaria for production, supply and transmission of electricity, natural gas and lignite coal - Kozloduy NPP, Maritza East 2 TPP, NEK, ESO, Bulgargaz, Bulgartransgaz and Mini Maritsa East.

Bulgaria's Doverie United Holding said that its unit Industrial Holding Doverie acquired a 14.49% stake, or 433,154 shares, in insulation materials producer Hydroizomat, boosting its interest in the company to 75.02%, on June 14. Following the transaction, Industrial Holding Doverie holds 2.24 million Hydroizomat shares, Doverie United Holding said in a bourse filing. The name of the seller and the price of the deal were not disclosed. 419,370 Hydroizomat shares changed hands in a single deal priced at BGN 1.25 per share on the Bulgarian Stock Exchange on June 14. Bulgarian drug maker Sopharma sold its entire 14.3% stake in Hydroizomat, equal to 427,612 shares, in a single transaction priced at BGN 1.25 per share on June 12.

Greece and Macedonia signed an historic agreement to rename the latter the Republic of North Macedonia, possibly putting end to a dispute that has soured relations between the two countries for decades. "This is a brave, historic and necessary step for our peoples," said Greek Prime Minister Alexis Tsipras, when signing the accord in the lakeside fishing village of Psarades on the border between the nations. "We are here to heal the wounds of time, to open a path for peace, brotherhood and growth for our countries, the Balkans and Europe," he said. The accord still has to be approved by both countries' parliaments and pass in a referendum in Macedonia. Senior EU officials were also present at the signing ceremony. When Macedonia peacefully gained independence from Yugoslavia in 1991, Greece balked at the name, saying it implied territorial ambitions toward Greece.

AT&T Inc closed its $85 billion deal to acquire media company Time Warner Inc after U.S. antitrust regulators indicated they would not seek a delay. The deal, first announced in October 2016, was opposed by President Donald Trump. AT&T was sued by the Justice Department, but won approval from a judge to move forward with the deal on Tuesday following a six-week trial. The Justice Department still has 60 days to appeal the decision by U.S. District Judge Richard Leon, even though the deal has closed. Leon of the U.S. District Court for the District of Columbia ruled on Tuesday that the deal to marry AT&T’s wireless and satellite businesses with Time Warner’s movies and television shows was legal under antitrust law. The Justice Department had argued the deal would harm consumers. U.S. President Donald Trump, a frequent critic of Time Warner’s CNN coverage, denounced the deal when it was announced in October 2016.

Chinese regulators have approved U.S. chipmaker Qualcomm Inc's proposed $44 billion merger deal with NXP Semiconductors. The decision by China's Ministry of Commerce clears a months-long antitrust roadblock caused by trade tensions between the United States and Beijing and will allow the takeover to proceed. With the green light from China's Ministry of Commerce, the deal has effectively been approved by all nine required global regulators. Qualcomm initially announced its bid for Dutch semiconductor company NXP Semiconductors in October 2016. Qualcomm did not immediately comment on the report. NXP did not immediately respond to a request for comment. Bernstein analyst Stacy Rasgon said the approval was the last major barrier for Qualcomm to close the deal, which had earlier encountered resistance from NXP shareholders until Qualcomm raised its offer. He said the San Diego chipmaker aims to use the NXP deal to diversify its business, which is currently heavily focused on mobile phones.