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Business Industry Capital
ISSN 1311-364X
Monday, 20 May 2019, Issue 4955
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(20.05.2019)
  EUR   1.95583  
GBP   2.23281
USD   1.75065
CHF   1.73343
EUR/USD   1.1172*
ECB exchange rate
Basic Interest Rate
  as of 01.05   0 %  


Bulgarian Stock Exchange - 17.05.2019
  Total turnover (BGN): 360 671.88  
Traded companies: 34
Premium 75 526.52
Standard 112 670.79
REIT 170 518.85
Bonds 1 955.72
Biggest change
Toplivo JSC - Sofia 28.57 %
Active Properties REIT - Plovdiv -5.41 %
BaSE - Shares: 403.70
BaSE - REIT: 51.90

Manufacture of metal processing machines
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Rais LTD - Pazardzhik   56 190  
  2   Milko SPLTD - Asenovgrad   28 565  
  3   ZMM Sliven JSC - Sliven   24 260  
  4   Mashin Komers SPLTD - Asenovgrad   10 076  
  5   Siloma JSC - Silistra   5 703  
  6   Emi JSC - Sofia   4 560  
  7   Red steel SPLTD - Pernik   3 616  
  8   UMT SPLTD - Kazanluk   2 482  
  9   Ustrem 03 LTD - Ovoshtnik   2 253  
  10   Andi Solid LTD - Pleven   2 177  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Agria JSC - Plovdiv
Allianz Bulgaria - Pension Insurance Company JSC - Sofia
Asets grup JSC - Sliven
Avangardstroy JSC - Sofia
Balkanpharma Dupnitsa JSC - Dupnitza
Brilliance JSC - Yambol
Business Logistics Center Sofia JSC - Sofia
Central Plovdiv JSC - Plovdiv
Chaika 97 JSC - Plovdiv
Daru Car JSC - Sofia
Finance Direct JSC - Sofia
Fonio trade JSC - Sofia
GBS-Rousse JSC - Sofia
Gold Telecom Bulgaria JSC - Sofia
Haskovo Veslets JSC - Sofia
Hisar golf i spa rezort JSC - Hisarya
HMC JSC - Plovdiv
Industrial and Logistik Park-Burgas JSC - Bourgas
KV holding JSC - Plovdiv
Ovcharovski plazh JSC - Balchik
Patingenering JSC - Rousse
Relax Property SPJSC - Bratzigovo
Solinex JSC - Peturch
Sortovi semena-Silistra SPJSC - Silistra
Termo eco aktiv JSC - Haskovo
TK Proline JSC - Ajidemir
Todipet JSC - Plovdiv
TOSS JSC - Dobrich
Wolf JSC - Sofia
 
Forthcoming General Meetings



Financial news

Greater profits of state-owned companies are expected by the finance ministry over the next few years. The forecast is set in the three-year budget framework drafted by the ministry. Thus, in 2020, the state plans to receive dividends of BGN 71.5 million, and in 2022 it is set at a further BGN 10 million on top - up to BGN 80 million. The assumption of profit growth was made on the basis of the retention of the rate of deduction from profit of 50%. Traditionally, outside this obligation remain the hospitals and water supply and sewerage companies, which have to meet pre-conditions in the water sector for the absorption of EU money. Whether state-owned enterprises will be able to make bigger profits, however, is controversial. The reason is that for years they have recorded low profits, low returns and indebtedness, especially when it comes to the biggest ones - those working in the energy sector. The Finance Ministry also forecasts a minimum increase in concession revenue. BGN 142.9 million of this activity is planned for next year. A year later, revenues will rise to a minimum of BGN 143.1 million, and in 2022 it will be BGN 146.9 million.

Source: Sega

Southeast Europe's Outsourced Services Market already amounts to EUR 7.542 billion, accounting for an annual growth of 14.9% and contributing 3.3% to GDP in the region, the SEE Innovation, Technolgy and Sourcing Summit Summit in Plovdiv reported. This market is expected to double to 2021 and to exceed EUR 14.7 billion, said Ivailo Slavov, Chairman of the Bulgarian Outsourcing Association. In 2017, the number of employees in the sector was 220 000, which is twice as much as five years ago. "The future is in attracting industrial productions, but the transition from industries that depend on people to knowledge-dependent industries is important," said BASSCOM’s Board of directors member Georgi Brashnarov. “Bulgaria is not only a leader and a major hub in the region but also helps other countries build growth platforms,” he added. "Bulgarian industry already offers over 100,000 well-paid jobs and accounts for 7% of the country's GDP," he said.

Source: econ.bg

 
Companies

FlixBus, the company with the largest bus network in Europe, continues to expand its operations in Bulgaria. The German carrier added to its network Plovdiv. In its summer schedule company will provide daily trips from the second largest city in Bulgaria to Hungary and Austria. Plovdiv citizens will be able to travel to Szeged, Budapest and Vienna. FlixBus entered the Bulgarian market in March 2018, offering a long-distance bus service from the capital. Besides completing the network, FlixBus continues to operate from Sofia to three countries: Romania, Hungary and Austria. In addition to the current expansion, the company also announced that they are planning for further development in Bulgaria this year, with new lines expected in the summer.

Source: Novinite.com

A new canning factory - Traki - has begun work in the Rakovski Industrial Zone. The project for the construction of a canning factory and refrigeration chambers for storage of agricultural products takes 4 years and EUR 4.7 million was invested, the owner and manager of Strom EOOD, which is an investor in the new power, said. "A large part of our total investment - about 2/3 - is financed by credit," the company said. The owner's forecast for the new canning plant is that it will achieve full return on investment costs in 15 years. The market purpose of the Thracian canning factory is export.

Source: Capital

JYSK Bulgaria, a unit of Danish bedding and furniture retailer JYSK, opened its first 3.0 concept store in Burgas, on the Black Sea coast, following renovation works worth BGN 490,000. JYSK Bulgaria plans to upgrade more of its stores in different cities by the end of the year. Under the new store design, shop items are arranged in theme zones replicating an authentic home environment. The company also said in the statement that it plans to hire some 250-300 new employees at its EUR 105 million distribution centre in Bozhurishte, near Sofia. The centre, which will service deliveries to other countries in the region, is expected to reach full capacity by the end of the year. JYSK entered the Bulgarian market in 2005 and currently operates 26 stores in the country.

Source: SeeNews

The Bulgarian manufacturer of electric water heaters and heaters Tesy reports an almost 8% increase in sales revenue in 2018, reaching up to EUR 62 million. "This year's goal is to reach EUR 78 million in turnover," said Tesy’s Commercial Director. That is, the Shumen producer predicts a 25% increase in sales. In 2018, the company changed its market organization. In 2018 the company invested BGN 7 million in manufacturing buildings and assets, extensions, improvements, means of transport. Some of the investments are also dedicated to the newest company product - the electric boiler BelliSlimo. Tesy was established in 1993 and is part of Ficosota Holding. Employees in the company are over 850. The company operates in four product categories and has four factories - three in Shumen and one in Smyadovo. The plant for boilers and heating appliances was built in 2016 with an investment of BGN 15 million, which allowed for a doubling of production.

Source: Capital

Over BGN 20 million are realized investments in Port Varna JSC in the last 12 months, the press service of the company, which on May 18 celebrated its 113 anniversary, announced. Investments in new equipment and renovation of the existing one are about BGN 16 million. The remaining funds have been spent on rehabilitation of the port infrastructure. Among the company's new acquisitions are two mobile port cranes, increasing the efficiency of handling all types of cargo. A number of port warehouse facilities have been renovated in the two terminals of the port. The repairs allow to increase the amount of stored goods, which increases the company's competitiveness. Port Varna already has all the necessary permits under the new Community customs legislation. This will allow the management to work to develop the functioning container terminal and to attract project loads.

Source: 24 chasa



       Bulgarian Industrial Association


 

       World

Europe

Talks between Labour and the government aimed at breaking the Brexit impasse have ended without an agreement. Jeremy Corbyn said the discussions had "gone as far as they can", blaming what he called the government's "increasing weakness and instability". Theresa May said the lack of a "common position" within Labour over a further referendum had made talks "difficult". The prime minister said she would now consider putting options to MPs on Brexit that may "command a majority". But Irish Prime Minister Leo Varadkar called the end of the talks a "very negative development". May has promised to set a timetable for leaving Downing Street following a House of Commons vote on her EU Withdrawal Agreement Bill in the week beginning 3 June. Brexit had been due to take place on 29 March - but after MPs voted down the deal Mrs May had negotiated with the bloc three times, the EU gave the UK an extension until 31 October. This prompted negotiations between the Conservatives and Labour to see if the parties could come to a Brexit agreement, despite differences over issues including membership of a customs union and a further referendum.

Source: BBC

America

President Donald Trump is delaying a decision by up to six months on whether to impose tariffs on imported cars and parts to allow for more time for trade talks with the European Union and Japan. Trump faced a Saturday deadline to make a decision on recommendations by the Commerce Department to protect the U.S. auto industry from imports on national security grounds. Trump directed U.S. Trade Representative Robert Lighthizer to pursue negotiations and report back within 180 days. He has said that some imported cars and trucks have weakened the U.S. economy and threaten to harm national security. The auto tariffs face strong opposition in Congress including from many prominent Republicans. Reuters and other new outlets reported earlier this week that Trump was expected to delay the decision. Automakers have strongly opposed the tariffs, saying they would hike prices and threaten thousands of U.S. jobs.

Source: Reuters

Asia

Foreign direct investment (FDI) into the Chinese mainland expanded 6.4 percent year on year to reach 305.24 billion yuan in January-April period, the Ministry of Commerce (MOC) announced Thursday. In U.S. dollar terms, FDI inflow grew 3.5 percent year on year to 45.14 billion dollars during the period, the MOC said. FDI in April alone reached 62.95 billion yuan, up 6.3 percent year on year. Investment in high-tech industries rose 43.1 percent year on year and accounted for 28.1 percent of the total FDI, with the high-tech service sector attracting 52.48 billion yuan in overseas investment, up 73.4 percent. FDI into western China reached 21.16 billion yuan, rising 9.6 percent year on year. China's pilot free trade zones saw FDI inflow up 11.8 percent year on year during January-April period, accounting for 11.9 percent of the total FDI. MOC data showed that FDI from the Republic of Korea and Germany both more than doubled from one year earlier.

Source: Xinhua

 
Indexes of Stock Exchanges
17.05.2019
Dow Jones Industrial
25 764.00 (-98.68)
Nasdaq Composite
7 816.28 (-81.76)
Commodity exchanges
17.05.2019
  Commodity Price  
Light crude ($US/bbl.)63.62
Heating oil ($US/gal.)2.1100
Natural gas ($US/mmbtu)2.6500
Unleaded gas ($US/gal.)2.0600
Gold ($US/Troy Oz.)1 276.20
Silver ($US/Troy Oz.)14.41
Platinum ($US/Troy Oz.)824.10
Hogs (cents/lb.)93.00
Live cattle (cents/lb.)108.92

       Discover Bulgaria

Kumanitsa cave

The Kumanitsa cave is located in the Eastern part of the Troyan Balkan Mountain in the Steneto Reserve, in the narrowest and picturesque part of the canyon above the breathtaking waterfalls Golemiyat Kazan (The Big Cauldron). The cave was traveled over and mapped for the first time in 1962, as its research continues even to this day. The total length of the galleries is 1656 m, and the displacement – 104 m. The entrance of the cave is situated hardly a meter above the river and its dimensions are 2.5 to 2.5 m. In the spring, when the snow melts, and during downpours, entering the cave is impossible as a part of the enormous quantity of water that flows through the canyon enters the cave here. Two rivers, that join, float through the two main galleries. The river that starts from the entrance is small when dry, and even may run dry. The other one – the internal one, is big, and explorers suggest that a part of its main water come from the massif, and another part – from upper potholes of the Kumanitsa River. The cave has an upper level that is yet not totally explored.


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