The trade balance for March 2022 is negative in the amount of EUR 244.7 million with a deficit of EUR 312.3 million for March 2021, the Bulgarian National Bank announced. For the first quarter of 2022 the trade balance was negative at more than EUR 1.186 billion (1.6 percent of GDP) with a deficit of EUR 513 million (0.8 percent of GDP) for the same period in 2021. Exports of goods in March amounted to nearly EUR 4.2 billion, an increase of EUR 1.24 million /42.1 percent/ compared to March 2021. For January - March 2022, exports were EUR 10.6 billion /14.2 percent of GDP/. Imports of goods for March 2022 is over EUR 4.42 billion, increasing by EUR 1.17 billion /36 percent/ compared to March 2021 /3.25 billion/. For January - March 2022, imports amounted to more than EUR 11.85 billion (15.8 percent of GDP). The balance on services is positive in the amount of EUR 306.6 million compared to a positive balance of EUR 258 ​​million in March 2021.

The net inflow of foreign direct investment (FDI) into Bulgaria grew to some EUR 1.06 billion in the first three months of 2022 from EUR 244.1 million in the comparable period of last year, the central bank said on Wednesday. The net FDI inflow in the January-March period amounted to 1.4% of Bulgaria's projected gross domestic product (GDP) in 2022, the Bulgarian National Bank (BNB) said in a statement, citing preliminary data. The Netherlands contributed to the largest net FDI inflow into Bulgaria in the review period, of 469.4 million euro. Belgium and Austria followed with EUR 159.4 million and EUR 115.3 million, respectively. On the other hand, the largest net negative flows were to Germany and Greece, EUR 63.7 million and EUR 21.4 million, respectively, central bank data showed. In March alone, Bulgaria recorded a net FDI inflow of EUR 112.5 million, nearly three times the inflow of EUR 41.5 million in the same month of 2021.

The American investment company Kohlberg Kravis Roberts & Co (KKR) is the new owner of the ContourGlobal Maritza East 3 TPP, Reuters reported. In a USD 2.2 billion deal, KKR has acquired another US company, ContourGlobal, which has a majority stake in Bulgaria's power plant, with 27% owned by the National Electricity Company. The company's board has already approved the offer and recommends that shareholders support it. There was also agreement from Reservoir Capital Group - the largest shareholder with 71.4% in ContourGlobal. The deal will be implemented through Cretaceous Bidco, a London-based company, in late March 2022. KKR says it values ​​ContourGlobal as a high-quality business backed by a balanced and geographically diversified electricity portfolio.

One of the leading providers of road transport services in Europe - DHL Freight, announced that it is opening a new logistics unit in Sofia. The company is celebrating its 25th anniversary in the country, and the new unit replaces the old location to handle the increased logistics volume. "With the new DHL Freight terminal, we are adding another important hub in Eastern Europe for road haulage, especially in providing quick and easy access to our customers' logistics solutions in the Sofia region," said Uwe Brinks, DHL Freight's CEO. The building uses new technologies and modern warehousing software to further expand its logistics capabilities, which manage all services. In addition, the terminal offers various possibilities for X-Dock activities with eleven automated and two specialized ramps for vans, storage of ADR goods, customs warehouse and a logistics area of ​​3000 m² for high rack storage for more than 6000 pallets. The new facility in Sofia invests in sustainable technologies, alternative propulsion and sustainable fuels. The construction is equipped with modern air conditioning systems to minimize and fully control the use of energy sources.

The Bulgarian Technological Group for Precision Agriculture NIK acquires the software and hardware of the global leader in the production of fertilizers, based in Norway - Yara International. The two companies sign a deal to buy and sell Yara's AgroOffice software in Bulgaria and Romania, the Bulgarian group said. Over the next 12 months, NIK will merge the two platforms TechnoFarm and AgroOffice in order to provide the best solution to its customers. AgroOffice is one of the first software products on the Bulgarian market and its long history in combination with the leading position in the field of precision agriculture of NIK, gives confidence to the Bulgarian company that it will offer a better solution to Bulgarian and Romanian farmers. Financial parameters of the deal are not mentioned. Its completion is expected in the next 2 months.

The Dutch-based technology company with subsidiaries in Bulgaria and India and majority owned by Bulgarian investors recently raised EUR 10.6 million to double the number of its broadband subscribers over the next 18 months. This was stated by the co-founder of the company Nikolay Gorchilov to SeeNews. The Internet Service Provider (ISP) has secured the funds in a loan deal with 24 European investors who have received preferential terms for converting the loan into shares. Among the supporters from the Bulgarian IT community are SoftUni, Telus International Europe, Telerik and SiteGround. The group's valuation is now EUR 100 million, with Excitel's co-founders including maintaining a joint controlling stake of 60%, which is subject to dilution of up to 10% if new investors choose to convert their respective invested amounts into shares. Part of the proceeds from the fundraiser will be used to double the software engineering team at Sofia's Excitel Technology to more than 30 people to further develop the technology that supports the company's business model.

The Bulgarian branch of the Belgian company Televic - a world leader in the development, production and installation of high-tech communication systems, has begun construction of a new production base near Plovdiv. The investment amounts to BGN 10 million, and the plans are for the factory to be completed by the end of the year, the company announced. The new base, which will produce the full portfolio of Televic's high-tech communication systems, will be located next to the company's first building in the village of Tsaratsovo, Maritsa municipality, Plovdiv district. The new factory will occupy over 5,500 square meters of built-up area, including administrative and warehouse space.

Inflation in the UK has reached a 40-year record due to high food and energy prices. In April, prices of goods and services were 9% higher than in the same month in 2021, statistics show. In just one month, consumer prices rose 2.5%, slightly below Reuters economists' expectations of a 2.6% rise. They also forecast a 9.1% annual increase. The April result is the highest since data were collected in its current 1989 level, exceeding the annual increase of 8.4% in March 1992 and well above the 7% observed in March this year. The UK's National Statistics Office said it estimated inflation to be the last time it had been "around 1982". As of April 1, the UK's energy regulator has raised the ceiling on energy prices for households - by 54% after a jump in wholesale energy prices, including a record rise in global gas prices. The Ofgem regulator does not rule out further increases in the ceiling in its periodic review this year.

California will seek part of the USD 8 billion earmarked by US President Joe Biden for the construction of hydrogen production centers as it joins the heated race between US states. Governor Gavin Newsom's Office of Economic Development announced that California will apply for hydrogen funding. The Communication does not identify specific projects that could attract funding. Several large-scale projects to produce hydrogen and use it as fuel are planned for the Los Angeles area, with the city council voting to seek federal funding as a regional hub. Hydrogen can supply power plants, factories, trains and ships without producing carbon dioxide, and governments around the world are increasingly seeing this gas as a key tool in the fight against climate change. The U.S. Infrastructure Act, passed last year, called for the creation of at least four hydrogen hubs across the country where hydrogen is produced and used, paving the way for its wider adoption.

Analysts at Goldman Sachs say they are lowering their forecast for China's gross domestic product (GDP) growth in 2022 to 4%, compared to a previous estimate of economic growth of 4.5%. The downward revision is a result of the coronavirus pandemic-related damage to the economy in the second quarter of this year. The Chinese economy is more likely to fail than to exceed this new forecast, they added. "Even this lower forecast for China's GDP growth suggests that Covid-19 is largely under control in the future, the real estate market situation is improving and the Chinese government is providing significant compensation for the negative effects through infrastructure spending. in the coming months," said analysts at the US Investment Bank. Retail and industrial production in China contracted sharply in April as large-scale Covid lockouts, especially in Shanghai, restricted workers and consumers in their homes and severely disrupted supply chains.