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Business Industry Capital
ISSN 1311-364X
Thursday, 22 April 2021, Issue 5432
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(22.04.2021)
  EUR   1.95583  
GBP   2.26763
USD   1.62891
CHF   1.77383
EUR/USD   1.2007*
ECB exchange rate
Basic Interest Rate
  as of 01.04   0 %  


Bulgarian Stock Exchange - 21.04.2021
  Total turnover (BGN): 658 483.17  
Traded companies: 40
Premium 41 067.08
Standard 521 752.09
REIT 92 203.95
Structured 860.00
BEAM - Shares: 2 600.05
Biggest change
Severcoop Gamza Holding JSC - Sofia -7.27 %
Emka JSC - Sevlievo 6.12 %
BaSE - Shares: 317.50

Manufacture of refined petroleum products
BEIS rating
Top 10 companies by
Total income
for 2019
(thous. BGN)
  
  1   Lukoil Neftochim Burgas JSC - Bourgas   6 564 304  
  2   Insa Oil SPLTD - Rakovski   687 354  
  3   Prista Oil Holding SPJSC - Sofia   123 903  
  4   Oil and Gas Exploration and Production JSC - Sofia   25 354  
  5   Lubrica LTD - Rousse   12 593  
  6   Avtoman SPLTD - Sofia   8 616  
  7   Verila Lubricants JSC - Sofia   6 872  
  8   Polichim-SS SPLTD - Sofia   3 842  
  9   Bulgarian Petrol Refinery SPLTD - Sofia   3 063  
  10   Polihim - SS - Oil LTD - Sofia   2 587  
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General meetings today
  Borsa - Stara Zagora JSC - Sofia
Central Depository JSC - Sofia
Lackprom JSC - Svetovrachene
Lucky Invest JSC - Luki
Momchil Coop JSC - Momchilgrad
New Industrial Company JSC - Sofia
 
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Financial news

Bulgaria is among the countries of the European Union that can record the most significant growth in GDP - one percentage point more per year in the period 2021-2027. But this can happen provided that there is full absorption of traditional funding and grants from the EU Recovery and Sustainability Mechanism funds. This is stated in a report by the rating agency Moody's for the countries of Central and Eastern Europe. Moody's warns that EU funding will stimulate economic growth, but institutional challenges will slow or even limit the effect for some countries. However, the government has not yet sent the latest version of the National Plan for Recovery and Sustainability, on the basis of which our country can expect European funds before the summer. If the resigned cabinet does not send it before the end of April or by mid-May at the latest, our economy will probably not be able to benefit from the money at least until the end of the year. Investment levels will ultimately depend on how much these countries can absorb from the funds, the Moody's report said. Meanwhile, the deadline for submitting national recovery and sustainability plans expires on the last day of April. Bulgaria has not yet sent its own, and the political situation in the country is further hampering the process. Our country should receive EUR 6.2 billion in grants.

Source: economic.bg

As of March 31, 2021, payments to employers under the 60/40 scheme to compensate employees exceed BGN 1 billion, according to a detailed analysis by the National Social Security Institute (NSSI), which deals with the transfer of the amounts. The experts point out that the aim is not to make a comprehensive assessment of the measure in terms of efficiency, effectiveness, compliance, etc., but the idea is to take a 'snapshot' of the results achieved, which can be used in the next stage to prepare more in-depth assessments. The data show that most of the money went to companies in the manufacturing industry and much less to tourism. Enterprises with 250 employees and more are 1.5% of all participants in the measure. However, they contain 37% of the preserved jobs, the data show. In October last year the largest amount of payments so far was nearly BGN 165 million, and the reason for this is that in the autumn the measure 60/40 got a changed design, which expanded the scope of the measure. Another interesting thing is that the average number of months that employers participate in the scheme is 5.6. About 6% of employers received support in just one month, and the same number in twelve months.

Source: Capital

 

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Companies

The Energy and Water Regulatory Commission (EWRC) approved a price of natural gas from April 1, 2021 in the amount of BGN 33.19 / MWh (excluding prices for access, transmission, excise and VAT). The prices of heating, hot water and electricity remain unchanged. This price is lower than the ones indicated in the application of Bulgargaz - BGN 33.38 / MWh. As it is known, at the end of March the Ministry of Energy and BEH started an inspection in the state gas company, which imposed a postponement of the decision by the energy regulator. The Energy and Water Regulatory Commission held a closed meeting, at which it adopted a decision in connection with the application submitted by Bulgargaz for approval of a price for April 2021, at which the public supplier will sell natural gas to final suppliers and individuals, which have been issued a license for production and transmission of heat. The decision of the Commission was adopted in accordance with the terms of the contract between Bulgargaz and OOO Gazprom Export and the terms of the contract with the Azerbaijani company and its agreements, the statement said.

Source: 3e News

North Macedonia's government has selected Bulgarian solar energy equipment supplier Solarpro Holding and Turkish Fortim Energy Electric to build photovoltaic power plants of combined 100 MW at the location of an old mine in Oslomej. Each of the companies will build one solar powerplant with an installed capacity of 50 MW as part of a public-private partnership (PPP) with state-owned electricity company ESM. Under the PPPs, ESM will receive 18.510% of the electricity produced by Fortim Energy Electric and 18.010% of the electricity generated by Solarpro's plant. The starting level required by the government was 10%. North Macedonia invited offers for participation in a PPP for the solar park project worth an estimated EUR 80 million in February, 2020. The agreement will have a 35-year term, after which the ownership of the solar parks will be transferred to ESM. Solarpro will offer 50 jobs to the former miners in the region, the company's CEO Konstantin Nenov said in the statement.

Source: SeeNews

Raiffeisenbank (Bulgaria) and the European Investment Fund (EIF) have signed a new guarantee agreement for risk sharing for the amount of EUR 65 million, the bank announced in Bulgaria. It will finance Bulgarian small, medium and intermediate enterprises (less than 500 employees), and the guarantee is supported by the European Guarantee Fund (EGF). According to Raiffeisenbank (Bulgaria), thanks to this agreement with the EIF, Bulgarian companies will have access to financing with a 70% guarantee for each new loan provided by the EIF. The maximum loan amount is EUR 1.1 million, and the application deadline is December 31, 2021. "During the COVID-19 pandemic, Raiffeisenbank and the EIF significantly strengthened their cooperation and are now further increasing their risk-sharing portfolio by another EUR 65 million. As a result, almost EUR 450 million of fresh capital is now available to Bulgarian small and medium-sized enterprises to overcome the negative economic effects of the pandemic. customer needs, "the bank said in a statement.

Source: money.bg

Romanian startup FintechOS has gone through the largest investment round to date, raising USD 60 million in fresh capital. It is run by the British fund Draper Esprit, and among the co-investors is the Bulgarian LAUNCHub Ventures. This is the second investment of the Bulgarian fund in the company. Earlybird Digital East, Gapminder Ventures and OTB Ventures also participate in the investment round. The funds will be invested in business growth outside Europe and the UK. Last year, the Bulgarian fund LAUCNHub Ventures also invested in the company for the first time. It co-invested in a GBP 10.7 million round, investing a total of EUR 44 million through its second portfolio.

Source: Capital

Bulgarian textile company Mak said that its standalone net profit rose to BGN 1.3 million in the first quarter of 2021 from BGN 198,000 in 2020, supported by higher revenue. Mak's operating revenue jumped to BGN 11.6 million in the first three months of this year, from some BGN 4.1 million a year earlier, the company said in an interim financial statement. The textile company's operating expenses also increased, to BGN 10.2 million from BGN 3.9 million. Mak's assets stood at BGN 24.8 million at the end of March, up from BGN 24.3 million a year earlier. Gabrovo-based Mak specialises in the production of police, firefighter and military uniforms, and has a portfolio of over 400 products. Last year, the company started the production of protective clothing for medical personnel, which has been in high demand since the outbreak of COVID-19.

Source: SeeNews



       Bulgarian Industrial Association



 

       World

Europe

The Norwegian sovereign wealth fund reported a profit in the first quarter thanks to strong stock markets, Reuters reported. The largest fund in the world, which has USD 1.3 trillion, has achieved a 4% return on investment. Profits amounted to 382 billion kroner (USD 45.7 billion) between January and March. "The rise of the stock market has been largely supported by the financial and energy sectors," said Trond Grande, the fund's deputy chief executive. While the stock yielded 6.6%, the fixed income portfolio recorded a loss of 3.2%. Real estate returns were 1.4% in the quarter. The fund invests Norwegian oil and gas revenues in 9,100 companies worldwide, owning 1.4% of all listed shares worldwide, and also invests in bonds, real estate and green infrastructure. The value of the fund, which receives revenues from the oil and gas industry, is three times higher than Norway's annual gross domestic product (GDP) and its return is key to the country's public finances. Its total value is now equivalent to about USD 214 thousand for each person in Norway.

Source: Reuters

America

Discord has terminated acquisition talks with Microsoft, The Wall Street Journal reported, citing its sources, and instead is planning an initial public offering. Microsoft has been in talks to acquire Discord for at least USD 10 billion. The technology giant is looking for companies to buy that will help it reach more consumers. Last summer, it wanted to acquire TikTok, but no deal was reached there either. At least two other companies have had an interest in Discord, sources said, but the startup has chosen to remain independent at this stage. The company offers a free internet platform for chat, audio and video and is especially popular among gamers. In 2020, it managed to double its customers to about 140 million and generate USD 130 million in revenue, compared to USD 45 million in 2019. Founded in 2015, in December 2020, Discord was valued at USD 7 billion. The deal would have helped Microsoft expand its social media presence beyond LinkedIn. Gamers point out that the Discord platform offers more attractive features such as higher-quality audio over competing services such as Skype, which Microsoft owns.

Source: money.bg

Asia

US President Joe Biden has tried to present a united front with Japanese Prime Minister Yoshihide Suga to counter the increasingly assertive China. This was the first face-to-face meeting in the White House of the new head of state since he took office, Reuters reports. The talks gave the Democratic president a chance to continue working on his promise to revive American alliances that fell apart during the term of his Republican predecessor, Donald Trump. China proved to be the main topic of conversation. Japan's central role in US efforts to confront Beijing was emphasized. The two leaders discussed a number of geopolitical issues, including Taiwan, and Suga said the country reaffirmed "the importance of peace and stability in the Taiwan Strait" - a blow to increased military pressure from Beijing on the island.

Source: investor.bg

 
Indexes of Stock Exchanges
21.04.2021
Dow Jones Industrial
34 137.31 (316.01)
Nasdaq Composite
13 950.20 (163.95)
Commodity exchanges
21.04.2021
  Commodity Price  
Light crude ($US/bbl.)61.09
Heating oil ($US/gal.)1.8500
Natural gas ($US/mmbtu)2.7000
Unleaded gas ($US/gal.)1.9800
Gold ($US/Troy Oz.)1 793.50
Silver ($US/Troy Oz.)26.58
Platinum ($US/Troy Oz.)1 216.90
Hogs (cents/lb.)104.53
Live cattle (cents/lb.)117.25

       Discover Bulgaria

April 22 - International Earth Day

International Earth Day was first celebrated in 1970 in USA and Canada. The day became an international feast in 1990. Bulgaria has been celebrating the day since 1993. The goal of this celebration is to unite people from all over the world in their efforts to protect the environment. The National Museum “Earth and Men” in Sofia is one of the biggest mineralogical museums in the world, revealing the richness of the bowels of Earth. It was established in 1985, and in 1987 its exhibition halls were opened for visitors. The museum consists of a restored and adapted building, which was built in the end of the XIX century and has been declared a national monument of culture.


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