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Business Industry Capital
ISSN 1311-364X
Thursday, 14 March 2019, Issue 4913
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(14.03.2019)
  EUR   1.95583  
GBP   2.27740
USD   1.73036
CHF   1.71971
EUR/USD   1.1303*
ECB exchange rate
Basic Interest Rate
  as of 01.03   0 %  


Bulgarian Stock Exchange - 13.03.2019
  Total turnover (BGN): 3 254 640.56  
Traded companies: 37
Premium 456 086.95
Standard 2 447 542.25
REIT 46 096.49
Structured 1 026.00
Bonds 303 821.70
Rights 67.17
Biggest change
Synergon Holding JSC - Sofia -7.41 %
Golden Sands JSC - Varna 4.97 %
BaSE - Shares: 2 281.74
BaSE - REIT: 150 066.00

Manufacture of builders’ carpentry and joinery of metal
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Dormakaba Bulgaria SPLTD - Sofia   28 584  
  2   Tal Engineering SPLTD - Kazitchene   24 279  
  3   TSB Group SPLTD - Sofia   21 186  
  4   Glasсproekt SPLTD - Sofia   15 980  
  5   Kamax LTD - Teteven   10 460  
  6   Preciz Al Energy SPLTD - Rousse   8 817  
  7   Alumina Elit 2003 SPLTD - Veliko Tarnovo   8 337  
  8   Etikom LTD - Petrich   7 218  
  9   Muharski LTD - Sofia   6 791  
  10   Bularcos SPLTD - Haskovo   5 643  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Complexstroy-Usta Gencho JSC - Tryavna
Intertrade JSC - Rousse
Profesional futbol club Neftohimik Burgas 1962 JSC - Bourgas
Proteh Consulting JSC - Sofia
Rila 98 JSC - Kurdzhali
Super Borovetz Property Fund REIT - Varna
Unitrans 97 JSC - Radomir
 
Forthcoming General Meetings



Financial news

At the end of February 2019, consumer prices in Bulgaria increased by 3.2% compared to the same month a year earlier. On a monthly basis, the appreciation is 0.5%, and inflation from the beginning of the year (February 2019 versus December 2018) is 1.1%. This is the third consecutive month in which prices are moving upwards and the second with a clear sign of accelerating consumer inflation well above the 3% level. In the last month of last year, the year-on-year appreciation was 2.7% and in January - 3%. In August 2018, inflation accelerated to a 5-year high. This data is being watched "under magnifying glass", as low inflation is one of the criteria for convergence (the so-called Maastricht criteria) of EU member states. In particular, Bulgaria should maintain low inflation, which does not exceed by more than 1.5 percentage points the average annual inflation (HICP) in the three EU countries with the lowest positive inflation.

Source: investor.bg

In 2018, Bulgaria's exports to the EU grew by 9.1 percent compared to 2017 and amounted to BGN 37,697.5 million, preliminary data from the National Statistics Institute show. In December 2018, exports to the EU grew by 6.6 percent on the corresponding month of the previous year and amounted to BGN 2,681 million. Bulgaria's EU imports in 2018 increased by 5.5% compared to the previous year and reached BGN 39,903.8 million at CIF prices. In December 2018, Bulgaria's imports from the EU Member States decreased by 6.7 percent compared to December 2017 and amounted to BGN 3,064.1 million. The foreign trade balance (export FOB - import CIF) of Bulgaria to the EU for 2018 is negative and reached BGN 2,206.3 million. At FOB/FOB prices (after elimination of transport and insurance costs on imports of goods) the balance is positive and amounts to BGN 290.3 million.

Source: 24 chasa

 
Concessions

Bulgaria's government accepted a request by France's Total, Austria’s OMV and Spain’s Repsol to extend by 109 days the permit held by the three companies for exploring for oil and natural gas in the 1-21 Han Asparuh offshore block in the Black Sea. The extension is a result of a force majeure event, the government said in a statement, without giving further details about the event. The government authorised energy minister Temenuzhka Petkova to sign an annex to the contract with the three companies within one month. Their permit is due to expire in January 2020. Total has a 40% interest in the project, while OMV and Repsol own stakes of 30% each. The 1-21 Han Asparuh block is located deep offshore in the Bulgarian sector in the western part of the Black Sea and covers an area of 14,220 sq km with water depths up to 2,200 m. The companies won a permit for prospecting and exploration of oil and gas in the 1-21 Han Asparuh block in 2012. Under the terms of the contract, they committed to invest over EUR 1.0 billion in the gas exploration process, while Bulgaria would receive EUR 40 million in the form of a bonus payments from the deal, the Bulgarian economy ministry said at the time.

Source: 24 chasa

Companies

The World Bank (WB) chose Bulgaria for its future outsourced Shared Services Center, where 275 people will be recruited for up to five years. This was announced by the government. The specific parameters, conditions and commitments of the parties will be further specified. The decision was taken by the management of the International Financial Institution in January 2019. Bulgaria is preferred because of its strategic location, the stable political and economic environment, the availability of highly qualified labor, the very good infrastructure. The center is expected to function as a Shared Services Unit with a technological focus, which will be responsible for the Bank's internal corporate and IT operations, with the intention of structuring other financial and administrative services. It is planned that the implementation of the project will take place in stages from July 2019, reaching the full capacity of over 275 employees within five years.

Source: Duma

Nearly 1500 new jobs will be opened by the two companies Ariete Logistics and Kostal until the summer in Pazardzhik. The first company will open approximately 400 job positions in its new production buildings, covering an area of 5000 sq. m. The company has purchased a total of 82,000 sq.m. area last year, with the halls built in three stages, and the total number of jobs will reach 1000 people. Ariete Logistics is part of the international Ariete Group and for six years it has been successfully developing in the field of automotive industry and logistics. The construction of the second production base of Kostal in Pazardzhik is in its final stage. As a result, the company increased its production area to 23,000 sq. m. and planned the appointment of 1,000 new employees.

Source: Monitor

Bags, fitments and filling machines manufacturer Rapak is investing in a new production line for Bag-in-Box packaging at its plant in the Bulgarian city of Shumen, its parent company - British-based DS Smith, said. The new equipment can produce Bag-in-Box bags of any size between 2 and 220L in MetPET, EVOH, Nylon or other materials. This will be the sixth line at the plant. In 2017, Rapak Bulgaria generated sales revenue of BGN 13.5 million and a net profit of BGN 171,000. The Bulgarian company employed 62 people at the end of 2017.

Source: SeeNews

Raiffeisen Bank International (RBI) said that its profit after tax from operations in Bulgaria fell to EUR 65 million in 2018 from EUR 69 million the year before. The group's operating income in Bulgaria grew to EUR 164 million in 2018 from EUR 156 million a year earlier. Net interest income from the financial group's Bulgarian operations edged up to EUR 103 million last year from EUR 101 million in 2017. Net fee and commission income rose to EUR 49 million in 2018 from EUR 45 million the year before. RBI's non-performing loans (NPL) ratio in Bulgaria dropped to 2.7% in 2018 from 4.3% in 2017.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

Euro zone industrial production was stronger than expected in January, data showed on Wednesday, mainly thanks to a strong contribution from energy and despite a drop in German output. The European Union’s statistics office Eurostat said production in the 19 countries sharing the euro rose 1.4 percent month-on-month in January for a 1.1 percent year-on-year fall. Economists polled by Reuters had expected a 1.0 percent monthly increase and a 2.1 percent annual decline. The January result was mainly influenced by a 2.4 percent monthly and 4.0 percent year-on-year jump in energy output, which helped offset or mitigate the weaker results for intermediate and capital goods production. Output went up despite a drop in Germany, the bloc’s largest economy. Eurostat estimated industrial production in Germany fell 0.9 percent on the month, a higher drop than the 0.8 percent fall estimated by the German statistics agency earlier this week. Large increases in France and Italy, the second and third biggest economies in the euro zone, more than offset the German data.

Source: Reuters

America

U.S. construction spending surged in January, with investment in public projects rising to a more than eight-year high, which could boost economic growth estimates for the first quarter. The Commerce Department said on Wednesday that construction spending jumped 1.3 percent, the largest increase since last April, after a revised 0.8 percent drop in December. Economists polled by Reuters had forecast construction spending rising 0.4 percent in January after a previously reported 0.6 percent drop in December. Construction spending increased 0.3 percent on a year-on-year basis in January. The release of the January report was delayed by a five-week partial shutdown of the government that ended on Jan. 25. The February construction spending report will be published on April 1 as scheduled. In January, investment in public construction projects increased 4.9 percent to its highest level since September 2010. The percent increase was the largest since March 2004 and followed a 1.0 percent drop in December.

Source: Reuters

Asia

China should start the construction of eight million-kilowatt nuclear power units annually by 2030 to ensure the steady development of the nation's nuclear industry and technology, said Liu Wei, a deputy to the 13th National People's Congress and general manager of China Nuclear Power Engineering Co Ltd, a subsidiary of China National Nuclear Corp, the State-owned nuclear power company. China is expected to see its total power consumption in 2030 reach 8.5 trillion to 10.5 trillion kilowatts, with clean energy accounting for more than 45 percent, said Liu. If nuclear power is to account for the global average of 10 percent of total electric energy production, China needs to start construction of eight million-kilowatt nuclear power units annually by 2030, he said. China has pledged to increase its total installed nuclear capacity to 58 gigawatts by 2020. It had 45.9 GW in operation as of January. Work on the construction of unit one of China's first nuclear power plant this year, located in Zhangzhou, Fujian province, is expected to start on June 30.

 
Indexes of Stock Exchanges
13.03.2019
Dow Jones Industrial
25 702.89 (148.23)
Nasdaq Composite
7 643.40 (52.37)
Commodity exchanges
13.03.2019
  Commodity Price  
Light crude ($US/bbl.)58.41
Heating oil ($US/gal.)2.0000
Natural gas ($US/mmbtu)2.8300
Unleaded gas ($US/gal.)1.8700
Gold ($US/Troy Oz.)1 303.80
Silver ($US/Troy Oz.)15.38
Platinum ($US/Troy Oz.)833.00
Hogs (cents/lb.)80.82
Live cattle (cents/lb.)119.32

       Discover Bulgaria

Varosha Complex in Razgrad

Varosha is a National Revival complex in the center of the town of Razgrad, Northeastern Bulgaria. It is a complex of restored houses in traditional style, reminding of the authentic atmosphere of the town in 19th century. It is a unique monument of the local traditions, keeping the old architectural and construction wonders done by self-taught masters. Many houses of famous Razgrad citizens are situated here, as lots of them are turned into museums. One of the most famous houses is the Museum of Stanka and Nikola Ikonomovi – prominent enlighteners of the National Revival period. An exposition is set here, showing the visitors their life and activity. Another attraction here is the house-museum of Dimitar Nenov. The home of the prominent composer and pianist is arranged in exposition showing his life and work. The church St. Nicholas the Wonderworker is also situated in Varosha. It was built in 1860, and reconstructed in 1903. The Ethnographic Museum spreads in restored houses from 19th century with pretty courtyards, and represents the traditional culture of the local ethnographic group Kapantsi.(Photo: www.pinterest.com)


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