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Business Industry Capital
ISSN 1311-364X
Monday, 28 January 2019, Issue 4881
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(28.01.2019)
  EUR   1.95583  
GBP   2.25899
USD   1.72381
CHF   1.72929
EUR/USD   1.1346*
ECB exchange rate
Basic Interest Rate
  as of 01.01   0 %  


Bulgarian Stock Exchange - 25.01.2019
  Total turnover (BGN): 1 353 341.71  
Traded companies: 38
Premium 110 812.06
Standard 938 537.58
REIT 303 992.07
Biggest change
Doverie - United Holding JSC - Sofia -5.26 %
Industrial Capital Holding JSC - Sofia 4.46 %
BaSE - Shares: 1 238 427.27

Manufacture of perfumes and toilet preparations
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Rubella Beauty JSC - Roudozem   53 645  
  2   Aroma PLC JSC - Sofia   30 627  
  3   Lavena JSC - Shoumen   17 829  
  4   Solvex Cosmetic Products LTD - Krichim   14 271  
  5   Refan Bulgaria LTD - Trud   13 432  
  6   Agiva LTD - Varna   13 008  
  7   Rosaimpex LTD - Plovdiv   12 326  
  8   Bio Fresh LTD - Tzaratzovo   10 381  
  9   Relina SPLTD - Slivnitza   6 709  
  10   Fresh Up Cosmetics SPLTD - Topoli   6 066  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Agency for collect of finance receivables and factoring JSC - Smolyan
Brewery Investment JSC - Veliko Tarnovo
DL Bild Sofiq JSC - Sofia
Intransmash Engineering JSC - Sofia
Khan Krum JSC - Han Krum
Mirtal SPLTD - Sofia
Off Media JSC - Sofia
Radis Group JSC - Plovdiv
Synthetica JSC - Sofia
 
Forthcoming General Meetings



Financial news

Deposits of Bulgaria's non-government sector rose by an annual 7.3% to BGN 77.7 billion at the end of 2018, the central bank, BNB, said. The deposits at the end of last year were equal to 71.9% of Bulgaria's estimated gross domestic product in 2018, BNB said. Deposits of households rose by an annual 7.7% to BGN 51.5 billion at the end of 2018. Deposits of non-financial corporations totalled BGN 23.2 billion at the end of last year, up by 5.2% year-on-year, while deposits of financial corporations added 16.9% to BGN 2.9 billion.

Source: SeeNews

Loans to Bulgaria's non-government sector rose by an annual 8.4% to BGN 57.3 billion at the end of 2018, the central bank, BNB, said. The loans at the end of last year were equal to 53.1% of Bulgaria's estimated gross domestic product in 2018, BNB said. Loans to non-financial corporations amounted to BGN 32.7 billion at the end of 2018, up by 5.4% year-on-year. Loans to households rose by an annual 11.2% to BGN 21.8 billion.

Source: SeeNews

 
Companies

The state-owned company Bulgartransgaz will make a third and final attempt to fill the planned transit gas pipeline, which is expected to transfer natural gas from the "Turkish Stream" pipeline through Bulgaria to the border with Serbia. It expects to reach acceptable proposals to ensure the financial viability of the project. The third phase of the Open Season Economic Test of the "Project for the Development and Extension of the Gas Transmission System" should be completed by January 31, after the first two phases of the test conducted last week failed. The test should determine the commercial interest in the pipe. The first stage saw only three binding tenders out of the four bidders registered in the procedure, but quantities for transit were insufficient. In the second phase, the capacity declared by the participants in the procedure at the Bulgarian-Turkish border was approximately 100% of the declared input capacity. At the Bulgarian-Serbian border, the participants claimed approximately 90% of the announced capacity.

Source: econ.bg

The German-Bulgarian Chamber of Industry and Commerce (AHK Bulgarien) awarded for the fifteenth time companies that contributed to the development of the Bulgarian-German economic relations in the past year. The prize was awarded in three categories - "Big Enterprise", "Small and Medium Enterprise" and "Social Engagement". A total of 33 enterprises were nominated. The prize in the category "Big Enterprise" was won by TED BED EAD. In 2018, the company increased its exports by 20% compared to 2017, with the share of exports reaching 50% of the company's total turnover. In the category "Small and Medium Enterprise" the award of the German economy went to Nuhealth AD. In addition to developing in Bulgaria, Nuhealth reached the markets of a total of 6 continents and 55 countries for two years. The share of exports for one year increased from 54% to 74%. Allianz Bulgaria Holding AD won the prize in the category "Social Engagement".

Source: econ.bg

Bulgarian farming group BG Agro said that its wholly-owned unit BG Agro Agriculture Company has acquired 100% of local Agro Smart BG from private investor Pavlina Lyubenova. BG Agro Agriculture Company acquired all 50 shares in Agro Smart BG for BGN 50,000. The registry agency has entered the deal into the commercial register.

Source: SeeNews

CEZ Distribution Bulgaria is taking part in project INTERRFACE, within which an integrated pan-European architecture for network services will be designed, developed and operated. It will act as an interface between the energy system and the customers and will allow for the smooth and coordinated work of all stakeholders. The main objective of the project is to build a system whereby transmission and distribution system operators, like the electricity market, can perform smart grid management and customer interaction while creating new rules for its use. Saving electricity from renewable sources and using it when needed is one of the opportunities that a smart grid has to offer. The start of the new four-year research project was launched on 16 January 2019 in Brussels. The project is being implemented by a consortium of 42 organizations (universities, network and market operators, service providers and technology providers) from 16 countries and is funded by the Horizon 2020 European Research and Innovation Program.

Source: Dnevnik

Bulgarian diversified group Stara Planina Hold said that its consolidated sales grew by an annual 10.51% to BGN 239.3 million in 2018. The group expects its sales to rise 2.06% year-on-year to BGN 20.9 million in the first month of 2019. Stara Planina Hold's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.

Source: investor.bg

Elana Agrokredit AD increased its portfolio of loans by BGN 14.7 million in 2018, of which BGN 11.07 million was financing of agricultural land purchase transactions and BGN 3.61 million increase in working capital, show calculations of Investor.bg on the basis of the monthly bulletin of the company for December 2018. Only in December 2018 deals for BGN 1.46 million were financed, which is more than BGN 839 thousand for December 2017. As farmers finance 20% of the purchase price of the land, funded transactions in 2018 are 25% more than BGN 11.07 million, or else said - and BGN 13.84 million. The value of financed transactions has increased by 7% yoy. The land remains the property of Elana AgroCredit AD, while the lessee does not pay the last installment. The duration of the funding is 10 years at an interest rate of 8.5% per annum. At the end of 2018 the company financed deals totaling BGN 74.06 million. The portfolio of working loans (with collateral for agricultural land) is BGN 12.34 million.

Source: investor.bg



       Bulgarian Industrial Association


 

       World

Europe

German business sentiment fell to its weakest level in almost three years as trade uncertainties and waning growth in China amplified concerns over the economic outlook. The Ifo Institute’s gauge of corporate confidence in Europe’s largest economy fell to 99.1 in January from 101.0 in December. The fifth straight decline will increase doubts over Germany’s ability to recover from a slump in the second half of last year, especially after a separate report this week showed manufacturing unexpectedly shrank in January. While European Central Bank President Mario Draghi said that a recession wasn’t a likely scenario, he offered a more gloomy economic assessment than just six weeks ago, when policy makers decided to cap stimulus. Risks to the outlook “have moved to the downside,” he said, citing protectionism and volatility in emerging and financial markets. “Disquiet is growing among German businesses,” said Ifo President Clemens Fuest. “The German economy is experiencing a downturn.”

Source: Bloomberg

America

Ford has predicted that a no-deal Brexit will result in costs of $800m during 2019 alone, in the latest in a series of stark warnings over potential disruption to British manufacturing. If the UK leaves the EU on 29 March without a deal the US carmaker said it could face trade delays at the border, a weaker economic outlook and tariffs on trade between the UK and EU, as well as a hit from the likely sharp fall in sterling. The warning came as Jaguar Land Rover, the UK’s largest carmaker, informed employees on Thursday that it will shut down its four main factories for an extra week at the start of April on top of a previously planned maintenance pause because of “potential Brexit disruption”. Ford’s European president, Steven Armstrong, this month said a no-deal Brexit could result in further job losses in the UK, and did not rule out the closure of British plants if there were no agreement. Ford has major operations in the UK, including factories in Merseyside, Dagenham and Bridgend that employ more than 5,500 workers.

Source: Guardian

Asia

Hyundai Motor said its Chinese joint venture (JV) is accepting voluntary retirements and reviewing various “optimization plans” at its factories following a slump in car sales in the key market. China saw its first auto sales contraction in more than two decades in 2018 as pressure from a crippling trade war with the United States and the phasing out of tax cuts on smaller cars pummeled business in the world’s biggest car market. A bleak outlook as China’s economy slows has prompted many automakers, such as Nissan, to cut production in the country or, as with Suzuki Motor, even exit it. For Hyundai, troubles have been exacerbated as it is also just recovering from a diplomatic row between Seoul and Beijing that had slammed demand for South Korean products in China. Hyundai, which with its affiliate Kia Motors was the No.3 automaker in China until 2016, turned in sales that were only half of its total production capacity last year. “Hyundai Motor is reviewing various optimization plans to enhance facility efficiency around the Chinese New Year holidays,” it said in a statement on Friday.

Source: Reuters

 
Indexes of Stock Exchanges
25.01.2019
Dow Jones Industrial
24 737.20 (183.96)
Nasdaq Composite
7 164.86 (91.40)
Commodity exchanges
25.01.2019
  Commodity Price  
Light crude ($US/bbl.)53.13
Heating oil ($US/gal.)1.8700
Natural gas ($US/mmbtu)2.8800
Unleaded gas ($US/gal.)1.3900
Gold ($US/Troy Oz.)1 301.90
Silver ($US/Troy Oz.)15.79
Platinum ($US/Troy Oz.)820.40
Hogs (cents/lb.)62.12
Live cattle (cents/lb.)126.85

       Discover Bulgaria

January 28 – the official holiday of Razgrad

As of 1994, on the occasion of the town’s liberation from the Ottoman yoke, Razgrad celebrates its official holiday. The town of Razgrad is situated in Northeastern Bulgaria, in the Danube River plain. Its proximity to the Romanian border and the Danube River favours the development of economic and transport potential. The region has been inhabited since ancient times. The prehistoric mounds of settlements, found in the surroundings, prove it. The contemporary Razgrad is a successor of the Roman town of Abritus. The town is prominent for its landmarks – the mosque, built in 1616, the bronze Momina Cheshma (Virgin’s fountain), the Christian temple of St. Nicholas the Wonder-worker. One of the most famous town symbols is the Clock Tower, raised in 1864. Different festivals take place in Razgrad – of the Kapanski traditions and habits (kapantsi is the way the natives call themselves), accompanied by the Yogurt Fair, and an International Children Folk Festival.


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