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Business Industry Capital
ISSN 1311-364X
Tuesday, 16 April 2019, Issue 4936
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(16.04.2019)
  EUR   1.95583  
GBP   2.26618
USD   1.72883
CHF   1.72396
EUR/USD   1.1313*
ECB exchange rate
Basic Interest Rate
  as of 01.04   0 %  


Bulgarian Stock Exchange - 15.04.2019
  Total turnover (BGN): 254 495.54  
Traded companies: 28
Premium 39 124.62
Standard 74 005.02
REIT 129 258.79
Bonds 12 107.12
Biggest change
First Investment Bank JSC - Sofia -3.85 %
Billboard JSC - Sofia 3.33 %
BaSE - Shares: 2 204.20

Manufacture of electricity distribution and control apparatus
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   ABB Bulgaria SPLTD - Sofia   355 938  
  2   Schneider Electric Bulgaria SPLTD - Sofia   210 867  
  3   Videoton Bulgarian Holdings SPLTD - Sofia   45 113  
  4   KEMET Electronics Bulgaria SPJSC - Kyustendil   26 992  
  5   Elma M Group JSC - Bourgas   25 799  
  6   Engineering SPJSC - Plovdiv   14 002  
  7   Torgoterm JSC - Kyustendil   13 495  
  8   Akhnaton Bulgaria JSC - Sofia   11 038  
  9   Woodward Bulgaria SPLTD - Sofia   9 430  
  10   Zenon BG LTD - Targovishte   9 290  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Arbanassi JSCo JSC - Veliko Tarnovo
Bourgas Shipyards JSC - Sofia
Bulland Investments REIT - Sofia
Geoinnovation research SPJSC - Plovdiv
Park REIT - Sofia
Rousse Shipyard West JSC JSC - Rousse
Shamot JSC - Elin Pelin
SK JSC - Mramor - SG
Tanel LTD - Sofia
Trans 5 LTD - Sofia
USMA JSC - Montana
Vinprom Troyan JSC - Troyan
Zebra JSC - Novi Iskar
 
Forthcoming General Meetings



Financial news

Bulgaria’s annual consumer price index (CPI) recorded 3.6 per cent inflation in March, up from 3.2 per cent a month earlier, with prices rising 0.1 per cent on a monthly basis, according to data released by the National Statistical Institute (NSI). In monthly terms, it was the tenth month with CPI increase in the previous 12 months, which also recorded one month of zero growth and one month in which consumer prices shrank. Food prices were 0.2 per cent higher compared to February and non-food prices rose by 0.4 per cent, while services prices were down 0.6 per cent. Compared to March 2018, food prices were 5.5 per cent higher, while non-food and services prices rose by 1.6 per cent and 3.8 per cent, respectively. The harmonised CPI figure, calculated by NSI for comparison with European Union data, recorded 0.2 per cent inflation on a monthly basis, while the annual harmonised CPI in March was up 2.8 per cent. Food and beverage prices were five per cent up, on an annual basis, while the price of utilities and housing also increased by 4.6 per cent and transportation costs were one per cent higher compared to a year earlier. The three categories account for about 48.3 per cent of the harmonised CPI basket.

Source: Sofia Globe

Bulgaria’s jobless rate fell by 0.3 percentage points month-on-month to 5.9% in March, the government's Employment Agency said. Compared to March 2018, Bulgaria’s jobless rate was 0.9 pp lower, the Employment Agency said in a statement. A total of 194,603 people were unemployed in March, of which 21,645 newly-registered with labour offices during the month. The number of people who found a job in the third month of the year totalled 23,754. There were 23,287 registered job vacancies in March. The highest share of vacancies was registered in the hotels and restaurants sector, 31.1% of the total.

Source: SeeNews

 
Companies

British fintech company Revolut announced the official start of its operations in Bulgaria. The main goal is the aggressive penetration on the home market and reaching 100,000 consumers by the end of 2019. Over the next few months, the company will provide additional services, including a no-commission trading platform. Revolut allows its clients to spend abroad in 150 currencies, hold and exchange 29 currencies, and make free local and international money transfers, which will greatly ease the financial lives of those with relatives abroad. Another feature of the app is that it also works with cryptocurrency and has joined forces with a number of leading exchanges to offer the best possible prices. The team will grow in the coming months to meet the business needs of the fast-growing company. To date, Revolut has collected approximately USD 340 million in investments from renowned venture capital firms, including Index Ventures, Ribbit Capital, Balderton Capital and DST Global. The fast-paced fintech currently opens over 12,000 new current accounts each day and processes a volume of more than USD 5.5 billion each month.

Source: economic.bg

Switzerland-based provider of ICT solutions and services provider Also Holding will acquire Bulgarian IT distributor Solytron in line with its aim to expand in Eastern Europe. The acquisition is subject to the usual regulatory approval. Solytron has steadily grown for the past six years and its market share of over 30% is a good starting position from which to continue to benefit from Bulgaria's economic development. Solytron posted revenue of BGN 172.3 million in 2017. Also Holding, majority-owned by Germany-based investment company Droege Group, connects over 100,000 clients with more than 550 providers of ICT services in 18 European countries. The company's portfolio includes logistics, financial and supply services as well. On completion of the acquisition Also Holding will be represented in almost all East European markets, except Russia, with total market volume of about EUR 30 billion. Solytron, founded in Sofia in 1991, trebled its sales revenue between 2011 and 2018 and sells solutions and products of over 50 leading manufacturers.

Source: money.bg

French nuclear energy business Framatome is preparing to take part in Bulgaria's procedure for selection of a strategic investor in the project for construction of Belene nuclear power plant, on the Danube river. The French company is currently determining the scope of activities which it could carry out under the project, Frederic Lelievre, senior executive vice president of Framatome, said during a meeting with Bulgarian energy minister Temenuzhka Petkova. In June 2018, Bulgaria's parliament mandated Petkova to seek potential strategic investors willing to build a nuclear power plant in Belene - a project abandoned since 2012 which the government aims to revive. According to the decision, the project should be implemented on a market basis and without Bulgarian state guarantees. Bulgaria would only participate in the project company through a non-monetary contribution - the reactors and other equipment already manufactured plus the construction site and the respective licences. The indicative term for structuring the project and choosing a strategic investor is 12 months. Petkova also said that Bulgaria has also invited Balkan neighbours North Macedonia, Serbia and Montenegro to take part in the procedure.

Source: SeeNews

The arbitration case brought by EVN against Bulgaria at the International Center for Settlement of Investment Disputes (ICSID) at the World Bank in Washington is over. The decision has not yet been published, but the Austrian firm has announced that it will not be paid the damages sought, which, according to unofficial information, was about EUR 500 million. "The company receives legal certainty and is perceived as a long-term investor on the Bulgarian market," says a EVN statement, quoted by the publication. It states that both parties must bear their own costs as proof that their claims are settled. EVN costs are estimated at around EUR 1 million. In principle, the Austrians still have the opportunity to challenge the arbitration award within the next 120 days, but only "for very limited reasons". Lawyers are now examining the verdict and assessing what the next steps are. "When the decision is adopted by both sides, it will provide security for future decisions of Bulgaria's energy regulator, which gives us better planning," says EVN spokesman Stefan Zah.

Source: Novinite.com

CEZ Distribution Bulgaria is actively involved in the FLEXITRANSTORE project, within which will be developed a next generation of flexible power grid. It will improve the ability of the power system to maintain a continuous service in the face of rapid and large changes in supply or demand for electricity, regardless of the cause. The strategic objectives of FLEXITRANSTORE are: to strengthen and accelerate the integration of renewables into European energy systems and to increase cross-border flows of electricity in Europe. A number of advanced technologies will be used to increase the flexibility of this new power grid, while increasing the usefulness of existing infrastructure by managing power storage devices. The project is run by 28 organizations from 14 countries and is funded by the European Horizon 2020 Research and Innovation Program.

Source: 24 chasa



       Bulgarian Industrial Association


 

       World

Europe

The European Parliament (EP) has approved a new law banning single-use plastic items such as plates, cutlery, straws, and cotton buds sticks. Confirming draft plans approved in late 2018, the EP said the following single-use plastic products will be banned in the EU by 2021: single-use plastic cutlery (forks, knives, spoons and chopsticks), single-use plastic plates, plastic straws, cotton bud sticks made of plastic, plastic balloon sticks, oxo-degradable plastics and food containers and expanded polystyrene cups. EU member states will have to achieve a 90% collection target for plastic bottles by 2029, and plastic bottles will have to contain at least 25% of recycled content by 2025 and 30% by 2030. The agreement also strengthens the application of the polluter pays principle, in particular for tobacco, by introducing extended responsibility for producers. This means tobacco companies will have to cover the cost of collecting cigarette butts, the second most littered single-use plastic item.

Source: Al Jazeera

America

Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world’s largest aluminum producer outside China, announced the deal in one of the main markets for the sector less then three months after it was removed from a blacklist. It had already resumed supplies to the U.S. market. The U.S. imposed sanctions on Rusal and its co-owner Oleg Deripaska in April 2018. Sanctions against Rusal and its parent En+, were lifted in January as Deripaska reduced his stake after months of talks and several extensions of the deadline for sanctions to take full effect.. Rusal and aluminum alloys manufacturer Braidy will create a joint project to produce flat-rolled aluminum products for the U.S. automotive industry, the Russian company said on Monday. The Atlas mill will be the first greenfield aluminum mill in the United States for 37 years, Braidy and En+ said.

Source: Reuters

Asia

The battery maker for Nissan Motor Co.'s Leaf electric vehicle is adding a factory in China to more than triple global capacity and lure more customers in the world’s biggest EV market. Automotive Energy Supply Corp. began construction of the factory in Wuxi in China’s eastern Jiangsu province this year with a planned annual capacity of 20 gigawatt-hours, enough to power 400,000 EVs a year, said Zhang Lei, CEO of Envision Group. The Chinese renewable-energy company, which purchased a controlling stake in the battery business from Nissan, currently has three facilities in Japan, the U.S. and the U.K. that can produce a combined 7.5 gigawatt-hours of batteries for EVs a year. “China has no shortage of EV battery makers, but it lacks one with products that people will feel absolutely safe to take their families around in,” Zhang said in an interview Sunday in Shanghai. China aims to sell 7 million new-energy vehicles annually by 2025, including EVs, plug-in hybrids and fuel-cell vehicles. Automakers such as Tesla Inc., Volkswagen AG and Daimler AG are all teaming up with battery makers.

Source: Bloomberg

 
Indexes of Stock Exchanges
15.04.2019
Dow Jones Industrial
26 384.77 (-27.53)
Nasdaq Composite
7 976.01 (-8.15)
Commodity exchanges
15.04.2019
  Commodity Price  
Light crude ($US/bbl.)63.34
Heating oil ($US/gal.)2.0600
Natural gas ($US/mmbtu)2.5900
Unleaded gas ($US/gal.)2.0000
Gold ($US/Troy Oz.)1 287.60
Silver ($US/Troy Oz.)14.90
Platinum ($US/Troy Oz.)890.60
Hogs (cents/lb.)98.30
Live cattle (cents/lb.)121.48

       Discover Bulgaria

140 Years Since the Adoption of the Tarnovo Constitution

The Tarnovo constitution was adopted by Bulgaria’s Constituent Assembly on April 16, 1879. It included 169 articles grouped into 22 chapters. The Assembly adopted the principle of separation of powers into executive, legislative and judiciary. The Constitution protected civil freedoms, the inviolability of ownership, the freedom of individuals, the equality before law, the right to association, the abolition of class-related rights and slavery, etc. Eastern Roumelia, a short-lived province with its centre in Plovdiv, which survived from 1879 to the Unification in 1885, had an Organic Statute in force. It was developed by a special commission consisting of representatives of the Great Powers and the Ottoman Empire. The Statute provided for strict separation of powers and the Provincial Assembly was at the top of the legislative power. The Turnovo Constitution was the fundamental law of Bulgaria from 1879 to 1947. It was amended twice on May 15, 1893 and July 11, 1911 and it was suspended twice at the time of the Full Powers Regime (July 1, 1881 – September 6, 1883) and the 19-May Regime (1934).


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