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Business Industry Capital
ISSN 1311-364X
Wednesday, 12 June 2019, Issue 4971
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
  EUR   1.95583  
GBP   2.19547
USD   1.72777
CHF   1.74115
EUR/USD   1.1320*
ECB exchange rate
Basic Interest Rate
  as of 01.06   0 %  

Bulgarian Stock Exchange - 11.06.2019
  Total turnover (BGN): 399 991.70  
Traded companies: 28
Premium 94 206.00
Standard 50 059.80
REIT 55 725.89
Bonds 200 000.00
Biggest change
Active Properties REIT - Plovdiv 9.23 %
Synergon Holding JSC - Sofia -8.18 %
BaSE - Shares: 739.65

Sea and coastal water transport
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  1   Navigation Maritime Bulgare (Navibulgar) JSC - Varna   104 402  
  2   Proekt S SPLTD - Rousse   3 222  
  3   Belferi SPLTD - Beloslav   1 222  
  4   See Link Shiping LTD - Bourgas   1 026  
  5   IHB Shipping Co SPJSC - Varna   1 006  
  6   Ribex Maritime LTD - Bourgas   650  
  7   Ilflot LTD - Sofia   528  
  8   Trans lion JSC - Bourgas   476  
  9   Key Partners SPLTD - Sofia   385  
  10   Ekipmar SPLTD - Sliven   220  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Active Properties REIT - Plovdiv
Arsenal 2000 JSC - Kazanluk
Arsenal JSC - Kazanluk
Asarel Medet JSC - Panagyurishte
Aurubis Bulgaria JSC - Pirdop
Avtobusni Prevozi 98 JSC - Vratza
BD Sport Bansko JSC - Sofia
Bulmaso Varna JSC - Varna
Comeco JSC - Plovdiv
Cooptrade Sofia JSC - Sofia
Corn Foods Silistra JSC - Silistra
Danube Dredging Fleet JSC - Rousse
DDF Invest JSC - Rousse
Dunav press JSC - Rousse
EST JSC - Sofia
Ferromagnet JSC - Pernik
GBS-Infrastructure Construction JSC - Sofia
HypoCredit JSC - Sofia
Khan Asparuh JSC - Isperih
Khan Omurtag JSC - Sofia
Kostenets-HHI JSC - Kostenetz
Madara Intertour JSC - Shoumen
Magnolia club JSC - Dobrich
Park-Hotel Moscow JSC - Sofia
Parvi Mai JSC - Polski Trambesh
Premier Fund REIT - Varna
Scut Mizia JSC - Mizia
Super Borovetz Property Fund REIT - Varna
Transstroy - Rousse JSC - Rousse
Forthcoming General Meetings

Financial news

Exports of goods and services from Bulgaria for the first four months of the year reached a record BGN 18.663 billion, according to NSI data. The bulk of it – BGN 9.6 billion, is to EU countries. Growth is 9.5% on an annual basis. At the same time, imports grew by only 4.6% year-on-year to BGN 20.6 billion. Exports to third countries for the months from January to the end of April amounted to BGN 5.9 billion, up 14.7% over the same period of last year. More than half of it is for 6 countries: Turkey, China, Serbia, USA, Russia, Northern Macedonia. Due to the imports of energy resources, Russia ranks first among the importers from non-EU countries, followed by Turkey, China and Egypt. In trade with EU countries, Bulgaria almost achieved a zero foreign trade balance, as imports from these countries amounted to BGN 9.8 billion, while exports were BGN 9.6 billion. According to NSI data, the balance is in fact, positive, but only if the transport and insurance costs of imported goods are eliminated. The balance is positive at the amount of BGN 384 million.

Source: 24 chasa

The National Social Security Institute declares that Bulgaria’s average insured income in April 2019 is BGN 991.12. This was announced by the Institute's press center. The average monthly insurance income for the country for the period from 01.05.2018 to 30.04.2019 is BGN 920.83. The defined average monthly social security income for the country for the indicated period is used in calculating the amounts of newly granted pensions in May 2019, clause 70 paragraph 2 of the Social Insurance Code.



Two consortiums have submitted offers for the construction of Rasovo and Nova Provadia compressor stations of the Balkan gas pipeline, which would be located from Provadia to the Serbian border. The estimated value of the order is BGN 351.6 mln. On Tuesday, a commission opened the offers infront of representatives of the associations and journalists in Bulgartransgaz. One consortium, which has proposed to design, deliver the equipment and build the stations, is Ferrostal Balkangas. It is led by the German company Ferrostaal Industrieanlagen GmbH. It was established in 1920 and until 2010 was part of the MAN Group. It is currently part of Deutsche Industrieanlagen GmbH, which brings together international companies specializing in the design, management and construction of energy infrastructure projects. The other partners are Glavbolgarstroy and Glavbolgarstroy International. Glavbolgarstroy, in partnership with US Solar Turbines and Honeywell, modernized 4 compressor stations - Strandzha, Petrich, Lozenets and Ihtiman, which provide transit to Turkey, Greece and Northern Macedonia.

Source: 24 chasa

Intermodal Terminal Plovdiv is given as an example of the most successful public-private partnership in Bulgaria, with the volume of cargo over the last year exceeding the traffic forecasts of the project. Approximately 40,000 TEUs (cargo containers) are currently being processed per year and full capacity is expected to be reached in 2020. 1.5-2 trains are being processed daily from and to Turkey. The terminal creates conditions for optimal interaction and integration of different modes of transport and thus improves intermodality in the EU's southeastern region. The project creates optimal conditions for improvement of the ecological situation in the country, assists the transport and logistics sector, which gives a serious impetus to the overall economic development at regional and national level. Intermodal Terminal Plovdiv was funded under the Operational Program "Transport" with a total value of BGN 11.9 million, of which BGN 2.1 million EU grants. It was built between May 2015 and March 2017, and in December 2017 was given at concession.

Source: Banker

Bulgarian drug maker Sopharma said that Serbia-based Sopharma Trading Beograd and Sopharma Trading Pharmaceuticals Beograd intend to seek bank loans from Raiffeisen Banka Beograd in order to finance their expansion in the country. Sopharma controls Sopharma Trading Beograd and Sopharma Trading Pharmaceuticals Beograd through its majority-owned unit Sopharma Trading. Sopharma Trading Pharmaceuticals Beograd intends to finance the acquisition of a land plot in Stara Pazova, construction of a storage and administrative base, and purchase of equipment and vehicles via a EUR 19.2 million loan, Sopharma said. Another loan from Raiffeisen Banka Beograd, worth EUR 5.2 million, will be used by Sopharma Trading Beograd for the acquisition of a land plot in Nis, construction of a storage and administrative base, and purchase of equipment and vehicles.

Source: SeeNews

The French Framatome will endeavour to secure financing for a quarter of the technical units of Belene Nuclear Power Plant. We are ready to take part with the volume of activities set down in 2012 when the project was halted, and will, respectively, ensure the political support, said Framatome representative Stanislav Georgiev after a meeting at the energy ministry. The French company was main subcontractor to the Russian Atomstroyexport, then selected to build Belene NPP. Framatome will respond to the invitation to tender for a new strategic investor though it is not yet clear in what form, Stanislav Georgiev said.

Source: BNR

The Bulgarian company Toplivo-2 has filed a complaint against the ecision of the The Commission for Protection of Competition (CPC) for the preliminary execution of the pipeline procurement contract for the pipeline between Bulgaria and Greece. The procedure was won by the Greek company Corinth Pipeworks S.A. with a price of EUR 58.2 million, excl. VAT, at a maximum value set to EUR 60 million. The bid of the second bidder Toplivo-2 was not allowed to be opened because it did not meet the pre-selection criteria and the third invited contender - Turkey's Erciyas Çelik Boru Sanayi A.S. dropped out of the race. The Bulgarian company appealed against Corinth's selection, but the CPC allowed the ICGB project company to enter into a contract with Corinth as the complaint proceeded. The dispute continues with a complaint to the Supreme Administrative Court (SAC) against the preliminary execution of the contract. ICGB hopes to confirm the pre-execution by mid-July, which will allow the contract to be signed.

Source: Duma

       Bulgarian Industrial Association




Thyssenkrupp and Tata Steel’s plan to form a landmark joint venture was rejected by EU antitrust regulators, concerned that the deal would have pushed up prices and reduced competition. The European Commission said the companies, which had looked to the deal as one way to tackle overcapacity and other challenges in the steel industry, had not done enough to allay its concerns. “Steel is a crucial input for many things we use in our everyday life, such as canned food and cars. Millions of people in Europe work in these sectors and companies depend on competitive steel prices to sell on a global level,” European Competition Commissioner Margrethe Vestager said in a statement. The Commission said imports from third countries would not have been able to offset potential price hikes resulting from the deal. This is Vestager’s third veto this year, after she blocked Siemens’ bid for Alstom, and German copper company Wieland-Werke AG to buy a business unit from Aurubis, Europe’s biggest copper smelter, in February.

Source: Reuters


Venezuela’s annual inflation dropped below 1 million percent in May for the first time since 2018, the opposition-run congress said on Monday, the result of the central bank restricting the domestic money supply. Consumer prices in the 12 months ending in May rose 815,194%, the legislature said, compared with 1.3 million percent in April. Prices rose 906 percent in the first five months of year, it said. The slowdown is the result of regulations requiring banks to keep a greater percentage of the bolivar currency in reserve, and because the central bank is issuing fewer new bolivars than in the past. The result is that the banking system has less capacity to lend, said legislator Angel Alvarado in an interview, which will further slow an already ailing economy. “They are slowing inflation through greater economic contraction,” Alvarado said. The figures are significantly more dire than those published by the central bank last week that showed inflation at around 130,060% in the 12 months ending in April, part of the first official economic indicators released in more than five years.

Source: Reuters


The China-Central and Eastern European Countries (CEEC) Expo has become an arena where businessmen from CEE countries can show the competitiveness of their products in the Chinese market. The expo, which opened in the eastern city of Ningbo on June 8, has attracted more than 700 government officials and businessmen from the CEE countries, as well as over 6,700 buyers from more than 40 Fortune 500 firms and other leading international enterprises in 22 countries and regions. Businessmen from 17 CEE countries have been promoting dairy products, wine, logistics and other products and services at the expo, which is scheduled to close on June 12. Jan Chaloupka, head of the export business development of Rajo, is confident about the competitiveness of his products in the Chinese market. "We export more than 57,000 tonnes of our products every year to over 70 countries around the world," he said. "All of our products are healthy and of high quality, which are based on the advanced technologies and knowledge that Rajo owns to meet the needs of customers." "I believe that our products can be one of the best in the Chinese market," he added.

Source: Xinhua

Indexes of Stock Exchanges
Dow Jones Industrial
26 048.51 (-14.17)
Nasdaq Composite
7 822.57 (-0.60)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)52.38
Heating oil ($US/gal.)1.8000
Natural gas ($US/mmbtu)2.3900
Unleaded gas ($US/gal.)1.7400
Gold ($US/Troy Oz.)1 335.80
Silver ($US/Troy Oz.)14.77
Platinum ($US/Troy Oz.)817.30
Hogs (cents/lb.)84.38
Live cattle (cents/lb.)106.82

       Discover Bulgaria

The Town Clock in Sliven

The town clock is one of the most significant symbols of the town of Sliven with a particularly attractive presence in the town’s center. The construction of the new Municipal house, above which the clock tower raises, was finished in 1936. Three years later the clock mechanism and the round face of the town clock were installed inside the clock tower. The old clock was made in 1808 by the skillful hands of Atanas “the clockmaker” helped by the significant contribution of the local people, as today only the bell has left. Nowadays the town clock continues to count the hours of the present time and reminds of the past. For more than sixty years the town clock has been measuring the exact time in the city.

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