Housing prices in Bulgaria increased by about 25 per cent in the three years between the third quarters of 2015 and 2018, according to the National Statistical Institute (NSI). The largest increase was in Bulgaria’s capital city Sofia, 34 per cent, followed closely by Plovdiv, 31.4 per cent, the NSI said. Similarly, there were significant increases in housing prices in Bulgaria’s other four large cities. In Varna, Rousse and Stara Zagora, the increases were just more than 25 per cent. In Bulgaria’s second-largest Black Sea city Bourgas, the increase was 17.76 per cent. The increases were the highest in Bulgaria’s six largest cities are a result of wage growth and job creation, accompanied by a long-standing trend of urbanisation. Prices of existing apartments rose at a greater rate than those of newly-built ones, going by the NSI statistics. Over the three-year period, prices of older apartments rose by an average 26.41 per cent, while those of new apartments rose by 22.41 per cent. This was the trend in Sofia, Vana, Bougas and Rousse, while in Plovdiv, prices of older and new apartments rose at about the same rate.

The Commission for Protection of Competition (CPC) completed its latest fuel market analysis and found no evidence of monopoly. CPC recommends a package of measures, which includes the creation of state-owned tax warehouses for fuels, an electronic platform that would track available space in tax warehouses in real time, reviewing regulatory and administrative barriers on activities in the market, as well as measures to strengthen controls on the quality of fuels sold in the country. According to the analysis, in terms of retail prices of A95 gasoline and diesel fuel last year in the different geographic regions of the country, the price increase has been observed for a short period. Additionally, the appretiations have been gradual. The regulator also weighed in on the recent amendments to the Fuels Act, saying that the requirements put in place by the law could lead to some market participants exiting the market and becoming an “insurmountable barrier to activities.”

The first experimental reef mussel farm in the world will be built within three years on the Bulgarian Black Sea coast. It will cost about EUR 10 million, and behind the idea is the team of Sea Harmony - the Varna-based company, which a few years ago developed a patent innovative project for artificial vertical mussel reefs. Their idea won a number of international awards for green ideas. Less than two years ago, they won a first prize in the sustainable food production section at the international Climate LaunchPad 2017 competition - the world's largest international green business and innovation competition for a greener and cleaner future. That same year Sea Harmony was the Bulgarian finalist in the race for a part of the USD 1 million prize pool in the socially important ideas contest of the global Chivas Venture initiative. In contrast to existing mussel farms located on the surface of seawater, the new development allows the reefs to be attached to the seabed outside the bays and is far less dependent on the waves.

Bulgaria's Consulthydro is planning to acquire the remaining 80% shareholding interest in local hydro power plant (HPP) Yahinovo it does not own from Centrale Hydroelectrique de Bulgarie for an undisclosed price. Consulthydro currently holds a 20% stake in Yahinovo HPP. The company intends to acquire 45,746 shares in Yahinovo, which have a total nominal value of some BGN 2.3 million. Consulthydro's sole owner - local private investor Yulia Hristova, will take a decision regarding the board of directors' proposal on April 30. Centrale Hydroelectrique de Bulgarie is a wholly-owned unit of Akuo Bulgaria CHB. Akuo Bulgaria CHB is owned by Akuo Energy Bulgaria and France's Euro Blue Power, which hold stakes of 51% and 49%, respectively. Akuo Energy Bulgaria is owned by Luxembourg-registered Akuo Energy International and private investor Stefan Colin, which hold stakes of 90% and 10%, respectively. The power plant ended 2017 with a net profit of BGN 184,000, down from BGN 956,000 in 2016. It generated operating revenue of BGN 574,000 in 2017, down from BGN 1.9 million in 2016.

Polish clothing and household goods retailer Pepco will open two stores in the Bulgarian city of Plovdiv - its first in the country, on March 15. Pepco intends to open over 15 stores in Bulgaria in the first six months after it enters the country's market, and increase the number to over 70 by 2021. Pepco intends to employ 500 people in Bulgaria by 2021. In the next few months, Pepco plans to open stores in Sofia, Varna, Ruse, Dobrich, Pazardzhik, Burgas and other cities. Pepco operates nearly 1,600 stores across Central and Eastern Europe.

Bulgarian lender Central Cooperative Bank (CCB) said that local insurer Armeec has increased its direct holding in the company to 9.43%. Armeec's stake in the lender was below 5% before the transaction. Last month, CCB hiked its capital by BGN 14 million to BGN 127.1 million, by converting part of its EUR 36 million bond issue. CCB converted 23,009 of its bonds, each with a nominal value of EUR 1,000. CCB was Bulgaria's eight largest lender by assets at the end of January.

Unicredit Bulbank prepares to pay all its BGN 430 million profit for 2018 as a dividend. This became clear from the invitation for a general meeting of shareholders of the largest bank in the country, scheduled for 9 April. The enormous amount will go to Unicredit S.p.A, which owns 99.45% of the capital. However, there are more than BGN 1.5 million shares in minority shareholders. Thus UniCredit Bulbank consolidates its policy of the last few years to distribute all its profits. This also happened with the result for 2017 and 2016, and for 2015 the bank gave out 1/2 of the profit, and in 2014 it was 1/3. In the years before, banks have capitalized their profits on a BNB prescription to build up buffers due to the high share of non-performing loans due to the global crisis. Unicredit Bulbank's own 2018 earnings are record for it, but it also includes about BGN 115 million from dividends from its subsidiaries for consumer loans and leasing. Compared to 2017, the bank's earnings surge by 44.5%, but if this particular effect is offset, growth is limited to about 6%.

British MPs resoundingly rejected Prime Minister Theresa May's Brexit deal for a second time on Tuesday, plunging the country into further uncertainty just 17 days before it is due to split from the European Union. The House of Commons voted 391-242 against the divorce deal, even after May secured further guarantees from Brussels over its most controversial elements. The move risks unleashing economic chaos, as Britain is scheduled to end ties with its biggest trade partner after 46 years on March 29, no matter what. Appearing before MPs in a voice half-breaking due to a cold, May defiantly vowed to fight on, saying she "profoundly" rejected the outcome. "The deal we've negotiated is the best and indeed the only deal," she told the hushed chamber moments after the vote. May promised to allow MPs to vote on a "no deal" option on Wednesday and, if that is rejected as expected, to decide on Thursday whether to ask the EU to delay Brexit. She said parliament faced "unenviable choices" if it voted for an extension, including revoking Brexit, holding a second referendum or leaving with another deal. However, eurosceptics believe the current deal is so bad that it is worth the risk of leaving with no plan.

The President of the United States Donald Trump, extended the sanctions regime against Iran, imposed in 1995 under the Clinton administration, for a year. Trump has sent to Congress a notification that extends for another year of action “state of emergency” in relations with Iran, announced on 15 may 1995. This notice will be published in the so-called Federal register – the collection of official documents of the U.S. government, reports TASS. “The actions and policies of the government of Iran, support for terrorist groups, evil activities of the Islamic revolutionary guard Corps continue to pose a threat to national security, international politics and the U.S. economy”, – the document says. On 15 March 1995, US President bill Clinton had blocked a deal to the American company Conoco with the Iranian national oil company for exploration of two oil fields off the coast of Iran (the first major deal since 1979), and may 8, 1995, was issued a presidential decree prohibiting U.S. firms to develop Iranian oil and gas deposits and to purchase Iranian oil to third countries.

Patent applications from China grew by 8.8 percent in 2018 to 9,401 cases, the largest number received so far, according to the European Patent Office (EPO) Annual Report for 2018. European patent applications filed by Chinese companies saw a more than six-fold increase between 2008 and 2018, making China among the five most active countries in terms of patent applications with the EPO. In 2018, Huawei was the most active applicant in digital communication and No. 2 among all companies of all technology fields, according to the report. The top four technology fields with the most patent applications from China were digital communication, computer technology, electrical machinery, apparatus, and energy as well as telecommunications. Twenty percent of all patent applications at the EPO in digital communication came from China in 2018, making China the second largest applicant in that field, with the United States claiming a bigger share (26 percent) and Japan (12 percent) ranking third.