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Business Industry Capital
ISSN 1311-364X
Wednesday, 27 March 2019, Issue 4922
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(27.03.2019)
  EUR   1.95583  
GBP   2.29208
USD   1.73220
CHF   1.74285
EUR/USD   1.1291*
ECB exchange rate
Basic Interest Rate
  as of 01.03   0 %  


Bulgarian Stock Exchange - 26.03.2019
  Total turnover (BGN): 1 205 284.89  
Traded companies: 34
Premium 101 889.70
Standard 1 098 605.19
REIT 4 790.00
Biggest change
Neochim JSC - Dimitrovgrad 10.19 %
Central Cooperative Bank JSC - Sofia -6.63 %
BaSE - Shares: 401 139.69
BaSE - REIT: 654 500.00

Manufacture of chairs and seats
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Riko Style LTD - Troyan   9 792  
  2   Retroujut Aksaga LTD - Yambol   4 477  
  3   Can Uchtehsport Bulgaria LTD - Kukorevo   3 559  
  4   Harmont SPLTD - Yambol   2 713  
  5   Mebel stil SPLTD - Kazanluk   1 502  
  6   Teoharovi LTD - Petrich   1 012  
  7   Jordani Production SPLTD - Rousse   787  
  8   Pirinska mura JSC - Bansko   289  
  9   Lia 92 LTD - Gotze Delchev   98  
  10   Bul Art SPLTD - Gabrovo   57  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Balkan Bulgarian Television SPJSC - Sofia
Bulventures JSC - Sofia
Embul Investment JSC - Stara Zagora
Expat Beta REIT - Sofia
Expresso JSC - Sofia
Frea Turs JSC - Varna
M Story LTD - Razlog
Piraeus Bank Bulgaria JSC - Sofia
Trans City JSC - Panagyurishte
Z M GRUP 3 JSC - Pleven
 
Forthcoming General Meetings



Financial news

Loans to Bulgaria's non-government sector rose by an annual 8.7% to BGN 57.9 billion at the end of February, the central bank, BNB, said. The loans at the end of the second month of this year were equal to 50.1% of Bulgaria's forecast gross domestic product in 2019. Loans to non-financial corporations amounted to BGN 33.1 billion at the end of February, up by 6.2% year-on-year. Loans to households rose by an annual 10.7% to BGN 21.9 billion, while leans to non-financial corporations totalled BGN 2.9 billion, up 25.7% on the year.

Source: money.bg

Deposits of Bulgaria's non-government sector rose by an annual 9.1% to BGN 78.8 billion at the end of February, the central bank, BNB, said. The deposits at the end of February were equal to 68.1% of Bulgaria's estimated gross domestic product in 2019. Deposits of households increased by an annual 8.5% to BGN 52 billion at the end of February. Deposits of non-financial corporations totalled BGN 23.4 billion, up by 8.1% year-on-year, while deposits of financial corporations added 29.6% to BGN 3.3 billion.

Source: SeeNews

 
Concessions

Shell's exploration drill for oil and natural gas in block 1-14 Khan Kubrat begins on April 1st. This was announced by Alexander Case, head of Bulgaria's Shell project. The purpose of the drilling is to determine the presence of any deposits. The drillings will be made at a depth of 1300 meters, 80 km from the coastline south of Burgas. The drilling will last for 90 days. There follows a period of data analysis. More research and evaluation drills will most likely be needed to evaluate hydrocarbons, and if they are above certain levels of commercial value, Shell will decide on future investments in the extraction infrastructure. Typically, the process of hydrocarbon detection until commercialization lasts for 6-10 years, and the yield phase is 20-30 years. If there are justified reserves the yield will not start before 2025. Investments of the company up to now are about USD 35 million, as they typically run between USD 50 million and USD 150 million for the entire project period until the mining investments decision is made.

Source: Capital

Bulgaria’s Transport Ministry has postponed the deadline for bids in the tender for the 35-year concession on Sofia Airport for a fifth time, to April 11. The previous deadline was April 3, but the Transport Ministry initially sought to receive binding bids by October 22 2018, which was pushed back several times to give additional information at the request of prospective bidders. The latest postponement, however, has been caused by changes to the tender documentation to reflect changes to Bulgaria’s Concession Act, meant to ease concerns raised by prospective investors in the tender for the Sofia Airport.

Source: Sofia Globe

Companies

The state-owned gas operator Bulgartransgaz intends to implement a gas pipeline project between Varna and Oryahovo. The facility is included in the new 10-year gas development plan for the country covering the period 2019-2028 and is to be approved by the Energy and Water Regulatory Commission. According to the plan, the future gas pipeline, which is in fact a combination of South Stream and Nabucco, should be ready in 2025. It is described as the second part of the Balkan gas hub project and its estimated value is EUR 1.78 billion, or nearly BGN 3.5 billion, including the modernization of existing sites. It is noted that the necessary funding will be provided with own funds and loans, but there is no clarity about what quantities of natural gas will be transported through it and where it will come from. This is the second huge expense planned by the gas company. Currently, Bulgartransgaz is conducting a procedure for the construction of a transit gas pipeline - from the Turkish to the Serbian border, with a price of BGN 2.8 billion. The project is a continuation of the Russian project Turkish Stream as Gazprom will use it to transfer gas to Serbia and Hungary.

Source: Capital

Two mutual funds, organized by the management company Real Finance Asset Management JSC - Varna, have purchased shares of TEXIMBANK AD. On March 20 in four deals, Quest Vision Mutual Fund acquired 20,000 shares at BGN 2.70 each. The deals were realized on the regulated market of BSE-Sofia and the buyer has paid a total of BGN 50,000. On the same date, in five transactions, Quest Assets Mutual Fund purchased 20,000 shares at BGN 2.70 each, according to a notification from the mutual fund. The deals were realized on the regulated market of the Bulgarian Stock Exchange and the buyer paid a total of BGN 96,300. Real Finance Asset Management is among the ten largest management companies in Bulgaria. Its portfolio includes only those two mutual funds, in which currently have been accumulated BGN 110.82 million. TEXIMBANK is one of the first private banks currently operating in Bulgaria, established in 1992 by more than 4,000 shareholders.

Source: Banker

The Bulgarian Eagle airline operator, which is registered in Bulgaria, has ceased operations following the bankruptcy of Germania Group owner. On March 7, 2019, the manager of Bulgarian Eagle filed a petition to the Sofia City Court for a declaration of insolvency of the company as of 5 February of this year and the opening of insolvency proceedings was sought. This is due to liabilities amounting to a little over BGN 12.7 million to companies belonging to the German Group, which were insolvent in February and have been appointed as assignee, and the obligations in question are subject to a requirement. Bulgarian Eagle was created in the summer of 2017 by Germania Group, and the idea was for the operator to specialize in the urgent letting of wet-leased aircraft for short periods. The operator has two leased Airbus A319 - LZ - AOA and LZ - AOC.

Source: Standart

MVB Truck & Bus Bulgaria, the official importer of Germany's MAN Truck & Bus for the Bulgarian market, has taken out an BGN 811,127 loan from local lender Central Cooperative Bank (CCB), with an annual interest of 35%, commercial register data shows. The entire company has been pledged as collateral for the loan. MVB Truck & Bus Bulgaria had BGN 17.3 million of outstanding obligations in relation to previous loans from CCB at the end of 2017. Last year, MVB Truck & Bus Bulgaria invested BGN 8 million in a new service centre in Plovdiv, which spreads on 11,000 sq. m. MVB Truck & Bus Bulgaria has been an official importer of MAN Truck & Bus since 2012.

Source: SeeNews

Billa Bulgaria, the local arm of supermarket chain Billa owned by Germany's REWE Group, will open a new store in Delta Planet Mall, in the city of Varna, on March 28. The new store will be Billa's 125th in the country. On Monday, Billa Bulgaria announced that Norbert Missbrandt will become the company's new executive director as of April 1. Billa Bulgaria's plans are focused on expanding its network of stores in the next few years. In 2019, Billa is planning to open several new stores, including in Sofia-based shopping centres The Mall and Paradise Center. The company currently operates 124 stores in 38 Bulgarian cities. Billa Bulgaria has opened one new store so far this year, following six launches last year. Billa entered the Bulgarian market in 2000.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

Europe is changing the internet again. Lawmakers have approved a sweeping overhaul of copyright rules, dealing a blow to major tech companies that argued the changes will be costly and limit free expression. The European Parliament voted Tuesday to approve fiercely contested changes that make platforms such as YouTube responsible for copyright infringements committed by their users. Sites like Google News could also be required to pay publishers for using snippets of their content. The proposal was opposed by tech companies, which warned they would need to build expensive content filters and stop linking to publications. Internet activists argued that the changes would lead to censorship. On the other side of the two-year battle were record labels, artists and media companies. They said reforms were needed to update copyright protections for the internet age and to ensure they're fairly paid for content.

Source: CNN

America

Apple has unveiled its new TV streaming platform, Apple TV+. The platform will include shows from existing services like Hulu and HBO. Apple also announced that it would be launching a credit card, gaming portal and enhanced news app. It is a change of direction for the 42-year-old company. There had been much anticipation about Apple's predicted foray into the TV streaming market, dominated by the likes of Amazon and Netflix. The Apple TV+ app will launch in the autumn. The app will be made available on rival devices for the first time, coming to Samsung, LG, Sony and Vizio smart TVs as well as Amazon's Firestick and Roku. The subscription fee was not announced, and notably absent from the launch line-up was Netflix, which had already ruled itself out of being part of the bundle.The Apple Card credit card will launch in the US this summer. There will be both an iPhone and physical version of the card, with a cashback incentive on every purchase. The credit card will have no late fees, annual fees or international fees. It has been created with the help of Goldman Sachs and MasterCard.

Source: BBC

Asia

China could increase U.S. pork imports to the highest ever this year as part of its commitment to bolster purchases of American farm goods to resolve the trade war between the two countries, according to people familiar with the situation. China may buy as much as 300,000 metric tons of pork in 2019, the people said. That amount would be about 80 percent more than the 166,000 tons it bought from the U.S. in 2017, before the trade war started. One of the people said the Asian nation could order 200,000 tons in the first half of the year alone. The final volume will depend on the progress of African swine fever in China, according to one of the people. The disease, which is fatal to pigs and is proving hard to contain in China, has been devastating its hog production since it was first reported there in August. It’s already slashed the sow-breeding herd in the world’s No. 1 pork market by 15 percent.

Source: Bloomberg

 
Indexes of Stock Exchanges
26.03.2019
Dow Jones Industrial
25 657.73 (140.90)
Nasdaq Composite
7 691.52 (53.98)
Commodity exchanges
26.03.2019
  Commodity Price  
Light crude ($US/bbl.)60.04
Heating oil ($US/gal.)1.9900
Natural gas ($US/mmbtu)2.7400
Unleaded gas ($US/gal.)1.9000
Gold ($US/Troy Oz.)1 315.50
Silver ($US/Troy Oz.)15.43
Platinum ($US/Troy Oz.)861.90
Hogs (cents/lb.)95.32
Live cattle (cents/lb.)120.72

       Discover Bulgaria

Boris Dimovski

The great Bulgarian artist Boris Dimoski died at the age of 81 on March 27, 2007. Boris Iliev Dimovski He was born on October 20, 1925 in the village of Yavorovo, Assenovgrad region. He was a member of Parliament in the Grand National Assembly. He studied black-and-white drawing in the Arts academy in Sofia from 1949 to 1951, in the classes of Ilia Bezhkov. He worked actively in the sphere of caricature and black-and-white drawing, published drawings in periodicals, took part in TV programs. Dimovski was an artist in the Trud paper (1954-1958 and from 1969), Starshel paper (1958 - 1969). He was assistant to the Bulgarian cinematography. He draw the paintings for books for children and adults such as Bezopasni igli (Safety Pins) – 1963, Lyuti Chushki (Chili Peppers) - 1968, 1990, 1993, Vnimatelni feiletoni (Careful Feuilletons) – 1963, Lichen kontakt (Personal Contact) – 2004, and others from Radoi Ralin; Nevchesani misli (Disheveled thoughts) of Stanislav Lets – 1968, Migove v kibritena kutiika (Moment in a box of matches) of O. Krasteva – 1970, and many, many others. He was a Laureate of a number of awards for achievements in the caricature field.


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