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Business Industry Capital
ISSN 1311-364X
Friday, 23 June 2017, Issue 4490
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(23.06.2017)
  EUR   1.95583  
GBP   2.21830
USD   1.75112
CHF   1.79979
EUR/USD   1.1169*
ECB exchange rate
Basic Interest Rate
  as of 01.06   0 %  


Bulgarian Stock Exchange - Sofia - 22.06.2017
  Total turnover (BGN): 3 661 486.60  
Traded companies: 38
Premium 574 295.97
Standard 3 002 221.34
REIT 81 385.07
Structured 559.73
Bonds 3 024.49
Biggest change
Solarpro holding JSC - Sofia -14.53 %
Speedy JSC - Sofia 4.88 %
BaSE - Shares: 2 464.39

Manufacture of bread; manufacture of fresh pastry goods and cakes
BEIS rating
Top 10 companies by
Net sales
for 2015
(thous. BGN)
  
  1   Simid Sofia LTD - Sofia   53 883  
  2   Agrocorn LTD - Bourgas   32 891  
  3   Savimex LTD - Varna   31 506  
  4   Hebar SPJSC - Plovdiv   23 570  
  5   Dobrudjanski hliab JSC - Dobrich   19 139  
  6   Bread Industry JSC - Harmanli   14 113  
  7   Fiesta 13 LTD - Sofia   13 191  
  8   Yana 1 SPLTD - Resen   10 683  
  9   Hlebozavod Tims SPLTD - Haskovo   10 652  
  10   Pain D'or JSC - Sofia   10 512  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Aery build SPLTD - Sofia
AutoBohemia JSC - Sofia
Azure Sea JSC - Sofia
BKS-Sredets JSC - Sofia
Bulser JSC - Sofia
Crystal Water JSC - Sofia
Danube Dredging Fleet JSC - Rousse
Darik imoti Bulgaria JSC - Sofia
E-Invest JSC - Sofia
Ellatzite Med JSC - Mirkovo
EnerSys JSC - Targovishte
Euratek finance JSC - Sofia
Faktori JSC - Sofia
Flagman Hotel JSC - Sofia
Golden Sands JSC - Varna
Kaliman RT JSC - Sofia
Mecom JSC - Sofia
Metron JSC - Sofia
Neochim JSC - Dimitrovgrad
Nitex 50 JSC - Sofia
Patstroyengineering JSC - Gruevo
Pirinplast JSC - Gotze Delchev
Professional Football Club-Cherno more JSC - Varna
SAF Magelan JSC - Sofia
Sek BG SPJSC - Bliznatsi - Vn
Slance Stara Zagora Tabak JSC - Stara Zagora
Solarpro holding JSC - Sofia
Speedy JSC - Sofia
Sugar Invest JSC - Gorna Oryahovitza
Viastroy JSC - Lovetch
Zagorka JSC - Stara Zagora
Zaharni zavodi JSC - Gorna Oryahovitza
 
Forthcoming General Meetings



Financial news

The World Bank published its finalized Financial Sector Assessment Program (FSAP) conclusions. The report recommends a number of measures to increase the administrative and supervisory capacity of Bulgaria's Financial Supervision Commission (FSC). The World Bank singles out the guarantee of the Commission's independence from the government as the most critical issue faced by the FSC. The Bank recommends to the FSC to finance its operation by way of supervision levies collected from the supervised entities, which will guarantee its objective work and increase its administrative and expert capacity. The World Bank also makes a number of other recommendations to improve the FSC activity, such as switching to risk-based supervision, structural changes within the Commission, etc. The report also includes an Action Plan which identifies concrete steps to fulfil the recommendations made. The FSC accepts the envisaged measures and has even started to work on the implementation of some of them.

Source: BTA

Bulgaria and the European Bank for Reconstruction and Development (EBRD) have signed a Memorandum of Understanding which guarantees support for the implementation of projects, financed through European structural and investment funds for the period 2014-2020. The Memorandum provides the foundations for cooperation between the Bank, the governing bodies and the beneficiaries through the conclusion of bilateral agreements on the provision of support for projects. The Bank's consultancy services within the Memorandum will be carried out in a broad spectrum of fields of cooperation, such as improving competitiveness, the commercialization of municipal services, reform in the water sector, the energy sector and security, financial instruments, etc.

Source: BTA



Companies

Chicago-headquartered Archer Daniels Midland (ADM) has opened its Port ADM Silistra silo in the Bulgarian city of Silistra, on the Danube river. “With expansions such as Port ADM Silistra, ADM will be well-positioned to meet rising customer demand across the region and simultaneously help local farmers to grow their businesses and broaden their horizons,” Ivaylo Georgiev, chief commercial manager of ADM Bulgaria Trading, said. Additionally, the development of the silo has created new jobs in the local area, meaning a greater capacity to support trading and logistic operations in Bulgaria and Romania. The facility will have a capacity of 20,000 tonnes and will be used to store, condition and transport bulk commodities. ADM employs more than 32,000 people and its products are sold in more than 160 countries. The company produces food ingredients, animal feeds and feed ingredients, biofuels and others.

Source: SeeNews

State-owned Russian Railways, RZD, are interested in implementing infrastructure projects in Bulgaria, Ukrainian media reported. However, it seems unlikely at the moment that the company will make a move in this regard as EU sanctions on Russia make it too difficult. RZD's website also lists Bulgaria among its prospective projects. On December 19, 2016, the Council of the EU prolonged the economic sanctions targeting specific sectors of the Russian economy until end-July 2017. The measures were initially introduced in July 2014 in response to Russia's actions in Ukraine.

Source: Capital

Bulgarian packaging products manufacturer Fort raised its stake in local peer Unipack to 96.69% from 94.6% in a buyout bid, the investment intermediary which handled the deal said. A total of 42 Unipack shareholders, holding 47,108 shares among them, accepted Fort’s offer of BGN 9.84 per share. As the company’s stake in Unipack surpasses 95%, existing shareholders might ask Fort to acquire their shares at a price equal to, or higher, than the one offered in the initial buyout offer. Under Bulgarian law, Fort will be obliged to acquire the shares within 30 days after receiving notification from the shareholders. Unipack AD, founded in 1967, produces packaging and paper materials. It is based in the town of Pavlikeni, in northern Bulgaria.

Source: investor.bg

Bulgarian drug distributor Sopharma Trading intends to acquire a majority stake in Serbian drug wholesaler Lekovit. Lekovit’s current owner – Dragan Petkovic - will keep a minority stake in the company and will continue to act as the company's CEO. The deal is subject to approval by Serbia’s competition authority. Sopharma Trading is a unit of Bulgarian drug maker Sopharma. In May 2016 Sopharma announced that it had sold its 51% stake in two Serbian plants co-owned by local company Ivancic i Sinovi (Ivancic&Sons). The company will continue to operate in Serbia through its other subsidiary in the country, Sopharma Trading Belgrade. In March Sopharma Trading said it would seek its shareholders' approval to take out two loans worth a total of BGN 40 million to finance acquisitions in Bulgaria and Serbia. Lekovit is active in the supply of pharmacies and other healthcare institutions with pharmaceutical products.

Source: Capital

Standard&Poor's Ratings Services (S&P) raised its long-term credit rating on United Bulgarian Bank (UBB) to 'BB+' with a positive outlook from 'B' and affirmed its 'B' short-term rating. "We now view UBB as a strategically important subsidiary of KBC. We anticipate that the change in ownership will have a positive impact on UBB's overall creditworthiness, specifically its liquidity position," S&P said in a statement. On June 14, KBC Group and UBB said they have received all the necessary approvals to finalize the acquisition announced in late December 2016. Bulgaria is a very important market for KBC and we expect the group to be strongly committed to UBB given its intention to grow significantly in the Bulgarian banking sector. International business growth is one of the pillars of KBC's strategy as the group plans to be among the top three banks and the top four insurers in its core markets, which include Belgium, Bulgaria, Hungary, the Czech Republic, and Slovakia, by 2020. KBC group has announced its intention to merge UBB with its Bulgarian subsidiary CIBANK, creating the third largest player in the Bulgarian banking sector, with a prominent market share of about 12% in loans, 10% in deposits, and 22% in life insurance.

Source: money.bg

Bulgarian industrial group Stara Planina Hold expects consolidated sales of BGN 106.2 million in the first half of 2017, 8.29% higher than a year earlier. Consolidated sales rose 9.09% year-on-year to BGN 87.1 million in the first five months of 2017, exceeding expectations for 8.78% growth. In May alone, consolidated sales revenue came in at BGN 17.9 million. Stara Planina's investment portfolio includes companies from the sectors of machine building, electrical engineering, perfumery and cosmetics, and textiles.

Source: SeeNews



       Bulgarian Industrial Association

 

 

       World

Europe

The European Central Bank said it would build an instant-payment system spanning the entire eurozone that allows firms and citizens to transfer money in seconds, in an effort to boost financial integration across the 19-nation currency bloc. The system, scheduled to start operating in November next year, will reduce the time needed for payments between bank accounts from up to one day to mere seconds, the ECB said Thursday. It will be available around the clock, 365 days a year. As such, it could pose a serious challenge to existing payment systems such as debit cards. The move by the ECB aims to address the absence of a rapid-payments system that spans the entire region, from tiny Baltic countries such as Estonia to Greece and Spain. It will ensure "that the demand for instant payments is met at European level and further facilitate the integration of the euro area," the ECB said. Instant payments are already available within several eurozone countries but banks haven't yet sought to join up the whole bloc.

Source: Market Watch

America

The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended June 17, the Labor Department said on Thursday. Economists polled by Reuters had forecast first-time applications for jobless claims rising to 240,000 in the latest week. Jobless claims for the prior week were revised upwards by 1,000 to 238,000 from 237,000. This week's tally is the 120th consecutive week that claims have been below 300,000, the threshold associated with a strong labor market. It's the longest stretch that the U.S. jobs market has remained below that level since 1970. The four-week moving average of claims, considered a better measure of labor market trends as it smoothes week-to-week volatility, rose 1,500 to 244,750 last week, the highest since early April. Many economists consider the labor market to be at or near full employment. The unemployment rate in May declined to a 16-year low of 4.3 percent.

Source: CNBC

Asia

American Airlines said it recently received an unsolicited offer from Qatar Airways about the Middle Eastern airline's intention to acquire at least a 10 percent stake in American, a move that not many people could have predicted. The notice advised that state-owned Qatar intends to purchase at least $808 million in the U.S.-based airline following a conversation between the two companies' CEOs, which was initiated by Qatar Airways' CEO, Akbar Al Baker, American said in a statement. American Airlines has a market value of about $24 billion. Qatar has said it plans to make its stock purchase on the open market. American said that it will respond to the notice "in due course" with the appropriate filings required under the Hart-Scott-Rodino (HSR) Act. Qatar Airways has submitted a filing under the HSR Act, with respect to its potential investment in American Airlines common stock, the companies have confirmed.

Source: CNBC

 
Indexes of Stock Exchanges
22.06.2017
Dow Jones Industrial
21 397.29 (-12.74)
Nasdaq Composite
6 236.69 (2.73)
Commodity exchanges
22.06.2017
  Commodity Price  
Light crude ($US/bbl.)42.90
Heating oil ($US/gal.)1.3800
Natural gas ($US/mmbtu)2.9100
Unleaded gas ($US/gal.)1.4300
Gold ($US/Troy Oz.)1 252.70
Silver ($US/Troy Oz.)16.60
Platinum ($US/Troy Oz.)926.30
Hogs (cents/lb.)79.82
Live cattle (cents/lb.)1.15

       Discover Bulgaria

SOS Children's Villages International

On June 23, the International Day of SOS Children's Villages is being celebrated. This is the birth date of Hermann Gmainer (1919-1986), the founder of the project "SOS Children's Villages". The day has been celebrated since 1987. The SOS Kinderdorf program originated in Austria in 1949. After the devastating war in which thousands of men lost their lives on the front, many women become widows and even more children become orphans. The Austrian humanist physician, Dr. Hermann Giner comes up with a simple but brilliant idea - he decides to offer each of them something - to women - children to realize the inner motherhood they carry within themselves and to the children - home, security and parenthood in the face of SOS-mother - mother in help in distress. The first SOS children's village was built in Imst, Austria, and later the model is being moved to Germany and other European countries. The Association SOS Children's Villages Bulgaria is part of the large international family SOS Children's Villages International, which takes care of nearly 1,000,000 children in 134 countries around the world. In Bulgaria, the Association starts its activity in 1990. It is the first civil rights organization in the country that provides direct care for children at risk. For the first time since the democratic changes, the Association offers an alternative to the institutional care services for children - care in the SOS family. Its activity is concentrated in two locations, where the program SOS Children's Village is implemented. The first location covers Sofia - Pernik and the second - Veliko Tarnovo - Gabrovo - Tryavna. (Source: sosbg.org)


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