The Industrial Production Index in Bulgaria, calculated by seasonally adjusted data, is up 3.2% in January, wiping out the decline of 2.1% in December. On an annual basis, the calendar-adjusted index of industrial production rose by 2.8% after it shrank by 2.9% in the previous month. In January, a healthy growth of 12.4% compared to the previous month was registered in the mining and quarrying industry, an increase of 4.1% in the manufacturing and 1.2% in production and distribution of electricity, heat and gas sector. On an annual basis, growth was registered by 16.4% in the mining and 2.9% in the manufacturing sectors, with a decrease of 1.1% in the production and distribution of electricity, heat and gas.

Turnover in retail trade in Bulgaria, excluding trade in motor vehicles and motorcycles, increased by 0.4% in January 2019 compared to the previous month. This shows the preliminary data of the National Statistical Institute (NSI). Though weak, growth could be interpreted as a positive signal, as only a month earlier, in December, we saw a decline of 0.5%. On an annual basis, turnover in retail trade in January increased by 3.2%. By comparison, the annual growth rate in December was 2.9%, but in previous months of last year there was an increase of over 5-6%. On a monthly basis, there was significant increase in turnover in January 2019 compared to the previous month in the retail trade in household appliances, furniture and other household goods - by 18.7%, trade in various goods - by 13, 2%, and retail of computers and communication equipment - by 10.8%.

The Turkish main shareholder in one of the two major private hospital chains in Bulgaria – Acibadem City clinic, is giving up on the decision to sell. The decision is a bit unexpected, as there was a hesitation since the September start of the deal, but in February Acibadem nevertheless provided interested buyers with financial information and a draft contract for the Bulgarian business, and binding offers were waiting for weeks. Now the explanation for the final cessation of the sale is that in Turkey the economic situation is improving and there is no need to cash in through a Bulgarian deal. The decision is also in agreement with the Malaysian end-owner. The business of the two hospitals, formerly known as City Clinic and Tokuda, and the other units in the group, was estimated at around EUR 200 million. Without final data, the preliminary is for consolidated revenues of about BGN 200 million in 2018. Currently, and clearly in the future, shareholders in the group through the Dutch company Acibadem are Turkish co-owners by 62%, the group of Bulgarian shareholders 23%, and from 2017 15% of the shares are owned by the World Bank investment corporation - the IFC.

Bulgarian Energy Holding EAD has chosen a financial institution that will issue a bank guarantee guaranteeing the payment of 2/3 of the fine imposed by the European Commission (EC) to BEH Group in case AT.39849. The Bank will provide a bank guarantee for securing the obligations of BEH and its subsidiary Bulgargaz EAD on the imposed fine. Negotiations between BEH and the bank are under way to clarify the terms of the bank guarantee contract. Bulgartransgaz EAD, Bulgarian Energy Holding EAD and Bulgargaz EAD filed a complaint against the EC decision of 17 December 2018. The companies in the BEH Group did not accept the EC's conclusion that they had abused a dominant position on the Bulgarian gas market. In December, the Commission fined BEH with EUR 77 million for hindering access to the gas transmission network in Bulgaria. Even if it appeals against the EC decision to impose a fine on BEH, Bulgaria will have to implement it.

Bulgarian real estate developer FairPlay International intends to absorb local construction company Prostroy 2002. FairPlay International will increase its capital to BGN 51.8 million from BGN 51.7 million by issuing 58,500 new shares. The fair price of FairPlay International shares at the end of 2018 was BGN 1.499 per share. FairPlay International booked some BGN 68 million in consolidated revenue in 2017, and ended the year with an after-tax profit, including minority interest, of BGN 7.6 million. Prostroy 2002 generated revenue of BGN 15.7 million in 2017 and a net profit of BGN 1.7 million.

Maxima Bulgaria, part of Lithuanian discount retailer Maxima Grupe intends to open at least four new stores under its T-Market brand, and to renovate a minimum of 4 of its existing T-Market stores in 2019. The company intends to continue opening stores across the whole country, including in smaller towns. Maxima Bulgaria, which launched operations in 2005, currently operates 74 T-Market stores in 38 cities across Bulgaria. The company employs over 1,500 people. Last month, Maxima Grupe announced that it intends to invest EUR 600 million in modernising and expanding its network of stores through 2025. The Lithuanian retailer placed a five-year EUR 300 million bond issue in September 2018.

Bulgarian public gas supplier Bulgargaz has proposed a 0.82% hike in the wholesale price of natural gas, to be valid in the second quarter of 2019. According to the proposal, the price will rise by BGN 0.37 to BGN 45.17 per MWh, excluding VAT and excise duty. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission (EWRC) has the final say on proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria currently imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.

The competent body of the European Union considers the Turkish Stream gas pipeline as a "threat" to the smooth operation of competition in the Balkans’ energy sector in case Serbia is included in his pipeline. The Energy Agency of the Republic of Serbia (AERS) earlier this week gave the "green light" to the Serbian company Gastrans to proceed with the project, excluding it from the Third Energy Package of the EU, that is the 2009 reform aimed at integrating the energy market within the EU and enhancing competition. Gastrans belongs to South Stream Serbia, based in Switzerland, in which Russian Gazprom holds a 51% stake with the rest belonging to the Serbian gas company Srbijagas. The Energy Community, the institution that the EU has set up to extend EU energy policy to aspiring members, announced that by acting in this way, Serbia missed the opportunity to align "a project of such magnitude and impact" with the European rules. AERS has rejected or radically changed all the conditions set by the Energy Community regarding third party access and price regulation, according to the position of the Energy Community Deputy Director and Legal Adviser, Dirk Buschle.

Venezuela's self-declared interim president Juan Guaido said that 16 states continued to be completely without power, while six had partial power. He said the private sector had lost at least $400 million from power outages. Electricity was cut to 70% of the South American nation late last week, and officials warned that hospitals were at risk. A dark corridor at Miguel Perez Carreno hospital, in Caracas, during the outage March 8. "Venezuela has truly collapsed already," Guaido said. Guaido said he will call for a "state of national emergency" in a special session of parliament on Monday. He said talks have been held with Germany, Japan, Brazil and Colombia to seek their support. Guaido said there is $1.5 billion available from multilateral organizations to take care of services in Venezuela. He did not say where the money was or how the funds could be accessed. Rampant inflation and food scarcity have gripped Venezuela under Maduro, and thousands have fled to neighboring countries as shortages, political turmoil and crime rates have soared. Blackouts have become a daily occurrence as the economic crisis has worsened.

Kia Motors may halt operations at its No.1 plant in China as part of its longer-term efforts to enhance competitiveness, a source familiar with the matter said on Sunday. Kia Motors said in a statement after the source told Reuters on Sunday that the company is reviewing various plans to strengthen production and sales competitiveness in China. Kia Motors, an affiliate of Hyundai Motor, makes cars in China in a tie-up with Dongfeng Motor Group and Jiangsu Yueda Investment Co Ltd. They run three factories in Jiangsu Province in China. Hyundai Motor also said the automaker was considering suspending production at its oldest plant in China as sales tumble and it struggles with overcapacity in its biggest market.