Retail trade, excluding car and motorcycle trade, declined by 0.6% in February compared to the previous month, according to data from the National Statistical Institute (NSI). Compared to the same month a year ago, turnover remained unchanged. In February there was a more significant decline in turnover compared to January from retail in household appliances, furniture and other household goods, where the decrease was 5.6%, as well as in the retail trade of pharmaceutical and medical goods (5.1%) and food, beverages and tobacco (1.3%). Turnover increases in retail trade in various goods by 0.9%.

In February the construction of buildings grew by two digits, compared to the same month of the previous year, according to data from the National Statistical Institute. Building construction posted a growth of 13.3%. Infrastructure growth is only 3.5%. Compared to January, the growth in building construction is 2.4% and in the case of infrastructure construction by 0.3%. The yearly adjusted data for construction output shows an increase of 9.2% and in January - by 1.5%.

Automotive rubber products maker Teklas Bulgaria, a wholly-owned unit of Turkey's Teklas Kaucuk Sanayi ve Ticaret, is investing BGN 22 million in a new manufacturing plant in Vratsa, the economy ministry said in a statement upon awarding Teklas Bulgaria a Class A investment certificate. The investment will create 500 jobs. Earlier this year, Vratsa mayor said that construction works of the first phase of the project will take six months to complete. The number of people employed at the plant could double at a later stage. The investment was said at the time, that it will exceed BGN 30 million.

Bulgarian logistics company Haynip Logistik is investing BGN 4.5 million in the construction of a new logistics and storage facility near Sofia, the economy ministry said in a statement upon awarding Haynip Logistik a Class A investment certificate. The storage facilities will spread on 3,000 sq m with a maximum annual capacity of 48,000 pallets. The investment will create 10 jobs. Haynip Logistik was set up in June 2018 and has a registered capital of BGN 60,000.

Bulgarian food company Ekokom Group is investing BGN 4.5 million in a new production facility in Bozhurishte Economic Zone, near Sofia. The investment will create 28 jobs, the economy ministry said in a statement upon awarding Ekokom Group a Class A investment certificate. Ekokom Group specialises in the production of dairy and other food products.

Swedish entertainment company Modern Times Group (MTG) has completed the sale of its 95% stake in Bulgaria's Nova Broadcasting Group to local Advance Media Group, in an all-cash deal which values 100% of Nova at EUR 185 million. Last month, Advance Media Group received approval from Bulgaria's Commission for Protection of Competition to acquire 100% of Nova Broadcasting Group - MTG's 95% stake and the 5% owned by Luxembourg-registered Eastern European Media Holdings. In January, MTG decided to terminate its agreement to sell its stake in Nova Broadcasting Group to Dutch-registered 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, according to the statement. 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.

Bulgaria's government said that the World Bank's new shared services centre in Sofia will launch operations in July, reaching its full capacity of over 300 employees within a five-year period. The government approved a draft agreement with the World Bank to support the financial institution in establishing the centre. The new centre will serve the World Bank's accounting, HR, IT and other needs and will complement an existing World Bank Group shared services centre in India engaged in identical activities.

The European Investment Bank (EIB) will lend EUR 47 million to Polish food and soft drinks producer Maspex Group for expansion, modernisation and upgrading of its production plants in Bulgaria, Romania and Poland. EIB is glad to support employment and economic activity in the region by new investment in the food sector that is crucial to continually enhance products and improve manufacturing in the three countries. The EIB investment will be used mainly for the development of four production facilities in Poland (Lowicz, Lublin, Tychy and Olsztynek), three in Romania (Valenii de Munte, Vatra Dornei and Giurgiu) and one in Bulgaria (Velingrad). In 2017, Maspex Group, through its subsidiary Tymbark Bulgaria, acquired 99.84% of Bulgarian water bottling company Aquarex-V.

The Italian government plans to raise its budget deficit projection in defiance of last year's accord with the European Commission. According to a budget plan, the government expects a budget shortfall amounting to 2.4 percent of economic output this year. That outstrips the 2 percent target agreed with the EU executive in December, after a tug-of-war over Rome's original proposal of 2.4 percent. The deficit would then drop to 2.1 percent of gross domestic product in 2020, under the spring budget document, known as the Documento di Economia e Finanza (DEF). The paper was compiled by the Italian finance ministry and approved at a Cabinet meeting late on Tuesday. The growing budget gap stems from the DEF's slashing of the economic growth forecast, to 0.1 percent for this year, from a previous projection of 1 percent. "The Italian economy lost momentum last year and because of this the GDP growth forecast drops compared to our latest official document," the paper says.

U.S. consumer prices increased by the most in 14 months in March, but underlying inflation remained benign against the backdrop of slowing domestic and global economic growth. The tame inflation environment and moderating economic activity support the Federal Reserve’s decision last month to suspend its three-year campaign to raise interest rates. The U.S. central bank dropped projections for any rate hikes this year after lifting borrowing costs four times in 2018. The Labor Department said on Wednesday its Consumer Price Index rose 0.4 percent, boosted by increases in the costs of food, gasoline and rents. That was the biggest advance since January 2018 and followed a 0.2 percent gain in February. In the 12 months through March, the CPI increased 1.9 percent. The CPI gained 1.5 percent in February, which was the smallest rise since September 2016. Economists polled by Reuters had forecast the CPI climbing 0.3 percent in March and accelerating 1.8 percent year-on-year. Excluding the volatile food and energy components, the CPI nudged up 0.1 percent, matching February’s gain.

SK Innovation Co Ltd is in talks to set up separate battery-making joint ventures with Volkswagen AG and Chinese partners, as the South Korean petrochemicals producer aggressively expands its involvement in electric vehicles (EVs). The company confirmed talks with Germany’s Volkswagen for the first time, telling Reuters the pair were discussing building a factory together. It also said it was on the cusp of agreeing to build a plant in China with undisclosed partners. The talks come as EV battery makers boost capacity to cope with fast-growing demand, as automakers race to develop vehicles powered by means other than petrol to meet increasingly stringent emissions regulations worldwide. SK Innovation, South Korea’s biggest oil refiner, is a latecomer to a market led by compatriots LG Chem Ltd and Samsung SDI Co Ltd plus Japan’s Panasonic Corp. Since starting mass production in 2012, customers have included Germany’s Daimler AG as well as Volkswagen.