The difference between the average gross salary in the public and private sectors is rising in 2018 in favor of workers in the first. Remuneration increased by 9.4% in both sectors, but employed in the public sector received an average of BGN 1165 per month last year (gross) and in the private - by 40 BGN less. For comparison, a year earlier the difference was BGN 37. This shows preliminary data of the National Statistical Institute (NSI). In nominal terms, the average wage in the country in 2018 rose by BGN 100 to BGN 1135 and its growth rate remains the same as in 2017. Expectedly, employees in the information and communication technologies sector are best paid ( an average of BGN 2720 per month). However, the biggest increase is in the entertainment sector - 16.9% compared to 2017, so the average wages there reach BGN 1017. The data of the national statistics show large differences between the public and private sector wages.

Bulgaria's Gross Domestic Product (GDP) grew by 30%, or about BGN 30 billion, over the last 10 years, said Deputy Minister of Economy Alexander Manolev. According to him, Bulgarian exports have increased more than twice since 2009 and already exceed BGN 56 billion. According to him, the country has made a serious step forward. In the top 10 markets there is only one country outside the EU - Turkey, but the trade relations with it are very important and dynamic, Manolev said. Among other non-EU countries, Bulgaria has the most intense trade with Serbia, the US, the Russian Federation, etc. China is getting closer to entering the top 10 countries for which Bulgaria exports, he said. According to him, the private sector creats 10 000 new jobs every year in Bulgaria. Investments in the country have steadily grown in recent years, and by 2018, according to preliminary NSI data, they will reach BGN 20 billion.

Swedish entertainment company Modern Times Group (MTG) has agreed to sell its 95% shareholding in Bulgaria's Nova Broadcasting Group to local Advance Media Group in an all cash deal, which values the company at EUR 185 million. The deal is expected to be closed in the second quarter of 2019 following anti-trust approval. Luxembourg-registered Eastern European Media Holdings holds the remaining 5% interest in Nova Broadcasting Group. The proceeds from the sale will be used to develop MTG’s global digital entertainment verticals through organic investment and mergers and acquisitions. Last month MTG decided to terminate its agreement to sell Nova Broadcasting Group to Czech-based investment group PPF. Nova Broadcasting Group comprises seven TV channels, as well as complementary online businesses that reach on average 74% of the Bulgarian population on a monthly basis. In 2018, the company generated sales of 1.15 billion Swedish crowns and earnings before interest and taxes (EBIT) of 223 million Swedish crowns. Nova Broadcasting Group employed 650 people at the end of 2018. Advance Media Group is a wholly-owned subsidiary of Advance Properties. Advance Properties owns 117 companies across 23 countries. MTG entered Bulgaria in 2007 via the acquisition of Balkan Media Group Limited, which operated the Diema TV channels. In 2008, MTG bought Nova. In Bulgaria, Nova Broadcasting Group's main rival is BTV Media Group, owned by Bermuda-registered Central European Media Enterprises.

Synergon Hotels AD deposits up to BGN 45 Million in the parent company Synergon Holding AD, the holding itself announced through BSE AD. The initial deposit amount was up to BGN 15 million and the contract was signed on 12 March 2018 at an annual interest rate of 3.6% and a repayment term of 31 December 2020. The hotel was sold for the amount of EUR 22.8 million or twice over the market capitalization of Synergon Holding AD. In 2018 Synergon Hotels sold one of its hotels in Sunny Beach, Europe Hotel for EUR 8.9 million. As of 31 December 2018 Synergon Holding AD owed BGN 6.309 million to the deposit of Synergon Hotels AD.

Bulgarian state-owned thermal power plant (TPP) Maritsa Iztok 2 has shut down its 165 MW Unit 2 for maintenance, the Independent Bulgarian Energy Exchange (IBEX) said. Works are scheduled to be completed on April 19, 2019, IBEX said in a notice. Earlier this month, TPP Maritsa Iztok 2 completed the planned maintenance of boiler 3 of its Unit 2. Maritsa Iztok 2 has eight operating units with a total installed capacity of 1,620 MW.

More than EUR 1.5 billion have been invested in Trakia Economic Zone (TEZ). Companies have opened over 30,000 jobs. Wages vary between BGN 900 (for installers) and BGN 2,500 (for electric and machine engineers). The data are summarized by the recruitment agencies. The average labor productivity for Plovdiv and the area in the industry is EUR 15,000 per person. The indicator is for 2017, said economist Georgi Stoev. In his words, this result is about 50% higher than any other industry. For some companies, the average productivity reaches over EUR 50,000, but with other it falls below the average. The indicator is calculated by dividing the value added in the manufacturing sector by the number of employees in the companies. Value added is the difference between sales revenue and costs of materials and external services. One of the things that have been done in recent years and has optimized the operations in TEZ is the improvement of the infrastructure, said cluster chairman Plamen Panchev.

Bulgarian diversified group Stara Planina Hold said that its consolidated sales rose by an annual 6.76% to BGN 21.8 million in January, exceeding its forecast for sales on BGN 20.9 million in the first month of the year. The company expects its sales to grow by an annual 2.64% to BGN 41.3 million in January-February, Stara Planina Hold said in a bourse filing. Stara Planina Hold's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.

Germany has narrowly avoided a technical recession after it posted flat growth in the fourth quarter, raising concerns that Europe’s largest economy is continuing to slow down. Preliminary data showed growth of 0.0 percent in the fourth quarter from the previous quarter, Germany’s federal statistics office Destatis said Thursday, below a Reuters forecast of 0.1 percent.. Destatis added that “positive contributions” in the fourth quarter came from domestic demand “however, development of foreign trade did not make a positive contribution to growth in the fourth-quarter.” The latest growth data from Germany come after a period of domestic tumult, particularly for its beleaguered car industry, and global concerns over trade, import tariffs and growth. The flat fourth quarter data shows that Germany has narrowly avoided a recession - defined as two consecutive quarters of declining growth. It does not bode well for Europe, however, which sees Germany as a traditional growth driver in the region. For the whole year of 2018, this was an increase of 1.4 percent,” Destatis said.

U.S. home sales fell in January to their lowest level in more than three years and house prices rose only modestly, suggesting a further loss of momentum in the housing market. The National Association of Realtors said on Thursday existing home sales dropped 1.2 percent to a seasonally adjusted annual rate of 4.94 million units last month. That was the lowest level since November 2015 and well below analysts’ expectations of a rate of 5.0 million units. December’s sales pace was revised slightly higher. The drop in January came after months of weakness in the U.S. housing market. Existing home sales were down 8.5 percent from a year ago. The U.S. housing market has been stymied by a sharp rise in mortgage rates since 2016 as well as land and labor shortages. That has led to tight inventory and more expensive homes. At the same time, the 30-year fixed mortgage rate has dipped in recent months and house price inflation is slowing. The median existing house price increased 2.8 percent from a year ago to $247,500 in January. That was the smallest increase since February 2012. Last month, existing home sales fell in three of the country’s four major regions, rising only in the Northeast.

Saudi Arabia and China signed economic cooperation agreements worth a total of $28 billion at a joint investment forum during a visit by Saudi Crown Prince Mohammed bin Salman to Beijing, Saudi state news agency SPA said. It said 35 agreements had been signed at the forum, held by Saudi Arabia’s investment agency SAGIA. It also said four licenses for Chinese companies had been awarded at the forum, without giving any details. The crown prince said Saudi Arabia’s relations with China dated back “a very long time in the past”. Crown Prince Mohammed, who has come under fire in the West following the murder of Saudi journalist Jamal Khashoggi at the kingdom’s Istanbul consulate in October, said Saudi Arabia saw great opportunities with China. “The Silk Road initiative and China’s strategic orientation are very much in line with the kingdom’s Vision 2030,” he said according to SPA, referring to Saudi Arabia’s sweeping economic reform program. Trade between the countries increased by 32 percent last year, he said. Saudi Arabia also said it was working to add Chinese to the curriculum in Saudi schools and universities.