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Business Industry Capital
ISSN 1311-364X
Thursday, 19 May 2022, Issue 5694
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


       Bulgaria
 
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BNB Exchange Rates
(19.05.2022)
  EUR   1.95583  
GBP   2.30994
USD   1.85862
CHF   1.86518
EUR/USD   1.0523*
ECB exchange rate
Basic Interest Rate
  as of 01.05   0 %  


Bulgarian Stock Exchange - 18.05.2022
  Total turnover (BGN): 2 149 275.68  
Traded companies: 51
Premium 102 086.79
Standard 1 223 255.93
REIT 279 406.22
Structured 14 879.13
Bonds 506 554.70
BEAM - Shares: 23 092.90
Biggest change
Speedy JSC - Sofia 10.89 %
Zarneni Hrani Bulgaria JSC - Sofia -6.25 %
BaSE - Shares: 396 973.48
BaSE - REIT: 99 859.00

Manufacture of machine-tools
BEIS rating
Top 10 companies by
Profit
for 2020
(thous. BGN)
  
  1   M park JSC - Sofia   1 920  
  2   Spinner Bulgaria LTD - Plovdiv   657  
  3   Polimeta LTD - Stara Zagora   107  
  4   FavoritMachinex LTD - Lyubimetz   94  
  5   Factory for Wood-processing Machines and Lines LTD - Plovdiv   65  
  6   Technoekip JSC - Pleven   47  
  7   Kamena LTD - Asenovgrad   38  
  8   IMMI JSC - Sofia   29  
  9   Ceramic Tehno Service LTD - Kaspitchan   23  
  10   Factory for Grinding Machines JSC - Asenovgrad   14  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Artex JSC - Ardino
Augusta 91 JSC - Hisarya
Avionams JSC - Plovdiv
Ceramat JSC - Kaspitchan
Elana Аgrocredit JSC - Sofia
M + S 97 JSC - Kazanluk
M+S Hydraulic JSC - Kazanluk
Modtrico JSC - Levski
Remo 98 JSC - Shoumen
Rousse spetzialni prevozi JSC - Rousse
Stroycoinvest JSC - Kaspitchan
Water Constructional Works - Silistra JSC - Silistra
Wholesale trade-Pleven JSC - Pleven
 
Forthcoming General Meetings



Financial news

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.

Source: 24 chasa

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.

Source: SeeNews

 
Companies

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.

Source: 24 chasa

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.

Source: money.bg

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.

Source: money.bg

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.

Source: money.bg

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.

Source: mediapool.bg



       Bulgarian Industrial Association



 

       World

Europe

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.

Source: economic.bg

America

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.

Source: investor.bg

Asia

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.

Source: economic.bg

 
Indexes of Stock Exchanges
18.05.2022
Dow Jones Industrial
31 490.07 (-1 164.52)
Nasdaq Composite
11 418.20 (-566.37)
Commodity exchanges
18.05.2022
  Commodity Price  
Light crude ($US/bbl.)110.78
Heating oil ($US/gal.)3.6000
Natural gas ($US/mmbtu)8.2200
Unleaded gas ($US/gal.)3.7200
Gold ($US/Troy Oz.)1 814.40
Silver ($US/Troy Oz.)21.46
Platinum ($US/Troy Oz.)917.70
Hogs (cents/lb.)108.53
Live cattle (cents/lb.)131.70

       Discover Bulgaria

1934 Sofia met the dawn with a new Government

On May 19, 1934 Sofia met the dawn with a new Government. During the night the army took power of the major state-owned institutions. In the eve of the action, the military union had 814 officers-conspirators who were allocated in all army garrisons. Early in the morning the new Prime Minister – Mr. Kimon Georgiev who had already taken part in the June 9, 1923 coup d’tat put a decree for compilation of the new Government in one of his pockets and in the other one – a declaration for the king’s abdication – in case he refuses to legalize the coup d’tat. However, the king did not disobey – he signed the decrees and the new Government, headed by Mr. Kimon Georgiev came into force.
The new Government expressed the views for radical restructuring of the State, supported by the political group Zveno. Most of the Ministers came from this group. The end of the government of the Military union came only three months later.


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