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Business Industry Capital
ISSN 1311-364X
Tuesday, 18 June 2019, Issue 4975
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(18.06.2019)
  EUR   1.95583  
GBP   2.19244
USD   1.74099
CHF   1.74410
EUR/USD   1.1234*
ECB exchange rate
Basic Interest Rate
  as of 01.06   0 %  


Bulgarian Stock Exchange - 17.06.2019
  Total turnover (BGN): 803 568.14  
Traded companies: 27
Premium 59 808.82
Standard 439 548.64
REIT 40 707.52
Structured 427.69
Bonds 263 075.48
Biggest change
Elhim Iskra JSC - Pazardzhik 6.11 %
Industrial Capital Holding JSC - Sofia -5.00 %
BaSE - Shares: 9 227.37
BaSE - REIT: 278.20

Activities of other transport agencies
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Schenker SPLTD - Sofia   122 272  
  2   Mondelez Europe Procurement GmbH - Bulgarian Branch - Sofia   100 348  
  3   Unimasters Logistics SCS SPLTD - Sofia   65 887  
  4   Baton Transport Bulgaria SPLTD - Sofia   40 396  
  5   Muvio lodzhistiks SPLTD - Sofia   39 324  
  6   Kam shiping SPJSC - Bourgas   31 633  
  7   Delamod LTD - Sofia   31 418  
  8   Cargo Partner SPLTD - Sofia   31 175  
  9   Transland LTD - Sofia   29 668  
  10   Truck Ferry SPLTD - Plovdiv   29 485  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Bulgarian business grupa HOLDING JSC - Sofia
Bulgarian Stock Exchange JSC - Sofia
Ceratizit Bulgaria JSC - Gabrovo
Doverie - United Holding JSC - Sofia
E-Elit BG JSC - Sofia
Hotel Rila JSC - Sofia
Interted Stara Zagora JSC - Stara Zagora
Koh-I-Noor Hemusmark JSC - Bourgas
Magnetic Head Technologies /Bulgaria/ JSC - Razlog
Mel Holding JSC - Sofia
Neo London Capital JSC - Sofia
Neochim JSC - Dimitrovgrad
Partners JSC - Kostinbrod
Rodopi JSC - Belovo
Roles JSC - Varna
Saglasie - Pension Insurance Company JSC - Sofia
Sirena 98 JSC - Sofia
Stroyinvest Holding JSC - Sofia
Todoroff JSC - Sofia
TPP Maritsa 3 JSC - Dimitrovgrad
Vulkan Cement JSC - Dimitrovgrad
Winery Estate Santa Sara JSC - Goritsa - Bs
Yalta Group Invest JSC JSC - Rousse
 
Forthcoming General Meetings



Financial news

Wages in Bulgaria went up considerably over the first quarter of 2019 – by 12.7 percent, Eurostat data show. The rise is most significant in the sphere of services - 13.1, in industry – 11 and in construction – 8.3 percent. The increase in wages at the end of last year stood at 4.8 percent. The only country with a higher growth rate within the EU for the first three months of 2019 is Romania – 16.4 percent. The average growth rate in the EU over the same period is 2.7 percent. The average hourly labour cost in Bulgaria (including taxes, wages and other expenses) is also up by 12.9 percent compared to the first three months of 2018, after a 5.1 percent increase during the last three months of 2018. The average labour cost indicator within the EU during the first three months of this year is 2.4 percent.

Source: BNR

The official reserve assets of the Bulgarian National Bank (BNB) rose by 0.1% m/m to EUR 24.8 bln at end-May, according to the latest BNB data. The foreign reserve assets represented 41.7% of the expected GDP for 2019, unchanged m/m. The reserve coverage of imports also remained unchanged at 9.8x months and the reserve coverage of short-term external debt was 3.0x. The slight m/m increase in the foreign reserves was driven by a 1.7% m/m growth in BNB’s liabilities to the government, as well as to an 8.9% increase in BNB’s liabilities to other depositors, BNB balance sheet data suggested. On the other hand, banknotes in circulation declined by 0.1% m/m and BNB’s liabilities to banks also dropped, by 2.5% m/m. Pre-determined reserve drains for the next twelve months were calculated at EUR 559.1 mln and the contingent outflows were estimated at EUR 86.2 mln for the same period.

Source: Company information

 
Concessions

Canada's Dundee Precious Metals (DPM) said that it has achieved first commercial gold production from its Krumovgrad open pit gold mine, located at the Ada Tepe property in southern Bulgaria. "DPM announced first concentrate production on March 14, 2019 and achieved commercial production on June 8, 2019 by exceeding an average of 60% of design throughput capacity and recovery over a period of 30 consecutive days," the company said in a statement. During the 30-day period, the plant demonstrated it can achieve close to 100% of throughput design capacity. In June, recoveries continued to rise beyond the commercial production threshold level, DPM announced. Ramp-up to full design capacity is expected to occur in the third quarter of 2019. Gold contained in concentrate at Ada Tepe is expected to be between 55,000 and 75,000 ounces in 2019.

Source: SeeNews

Companies

The Independent Bulgarian Energy Exchange (IBEX) announced that the first deal with Bulgarian power futures was registered on the European Energy Exchange (EEX) on June 14. The trade was for the monthly product July 2019. EEX listed Bulgarian power futures products denominated in euro on June 3. The financial settlement is based on the clearing price of the Bulgarian day-ahead electricity market, operated by IBEX. IBEX, established in 2014, holds a 10-year license issued by the State Energy and Water Regulatory Commission for organizing a power exchange for electricity in Bulgaria. IBEX is a wholly-owned subsidiary of the Bulgarian Stock Exchange.

Source: Monitor

The Bulgarian Stock Exchange (BSE), chairing the National Commission on Corporate Governance (NCCG), is the first of its kind in Bulgaria to conduct a study on Environmental, Social and Corporate Governance (ESG). The study aims to provide answers on the recognizability of issues among Bulgarian investors, the existence of bias and the degree of influence of the regulatory framework on their investment strategy and horizon. The focus is on examining internal policies and rules for making investment decisions tailored to socially responsible investment factors and the degree of investor engagement with regard to the risks of such investments in companies in their portfolio.

Source: econ.bg

Bulgaria's Porsche Inter Auto BG, part of German automotive group Volkswagen, said that its net profit rose to BGN 3.9 million in 2018 from BGN 3.3 million in 2017. Porsche BG's revenue grew to BGN 212.4 million last year from BGN 187.6 million in 2017. Revenue from vehicle sales rose to BGN 204.3 million from BGN 179.9 million, while revenue from services edged up to BGN 8.1 million from BGN 7.7 million. Cost of goods sold increased to BGN 192.0 million in 2018 from BGN 168.6 million the year before. Porsche BG is an official retailer of Volkswagen and Audi vehicles in Bulgaria.

Source: SeeNews

Financial and insurance group Eurohold Bulgaria said that Blubeard Investments Limited has increased its stake in the company to 7.52% on June 10. Blubeard Investments Limited owned 14,858,900 Eurohold Bulgaria shares. Blubeard Investments Limited held a stake of under 5% prior to the transaction, according to data from Eurohold Bulgaria's most recent financial statement. Eurohold Bulgaria shares closed at a price of BGN 1.85 apiece on the Bulgarian Stock Exchange on Friday.

Source: investor.bg

A supercomputer will be built in Bulgaria, said European Commissioner for Digital Economy and Digital Society Maria Gabriel during a news conference after meeting with Prime Minister Boyko Borissov and the Director General of DG CONNECT (Directorate General of Communication, Networks, Content and Technology) at the European Commission (EC), Roberto Viola. This will make Bulgaria one of eight countries with such a European supercomputer. The total investments adds up to EUR 1 billion, of which EUR 486 million are provided by the EC. The remainder will come from Member States and private partnerships. The project in Bulgaria costs EUR 18 million, 12 million of which will come from Bulgaria and the remaining EUR 6 million - from the EC. The supercomputer should be up and running by 2020. Roberto Viola noted that this is the largest EU investment in Bulgaria related to scientific infrastructure. According to him, the computer to be built in this country will be as powerful as the one in NASA's centre. The Bulgarian supercomputer will be connected to a network between all the European computers. The centre will be predominantly staffed by Bulgarians and will be built in Sofia's Tech Park.

Source: BTA



       Bulgarian Industrial Association


 

       World

Europe

The European Union is set to threaten Turkey with retaliation over its drilling activities in the Eastern Mediterranean, adding to signs of deteriorating relations between Ankara and Brussels. EU governments will vow to freeze negotiations over the modernization of the customs union between the bloc and Turkey, while reiterating that accession negotiations have come to a standstill, according to a draft communique seen by Bloomberg. They will also signal that further escalation is possible, as the EU “stands ready to respond appropriately and in full solidarity with Cyprus,” if drilling activity continues. The statement, due to be approved by the EU’s European affairs ministers on Tuesday, is subject to ongoing deliberations between diplomats and the final wording may change. Greek Prime Minister Alexis Tsipras said on Sunday that he may demand EU sanctions against Turkey over drilling activities. Turkey and Cyprus are at loggerheads over offshore gas reserves in Eastern Mediterranean, as Ankara disputes Nicosia’s Exclusive Economic Zone claims. Turkey has sent exploration vessels in the area, with Cyprus protesting a violation of its sovereignty.

Source: Bloomberg

America

The US federal minimum wage has gone a record length of time without an increase, with the $7.25-an-hour base, remaining unchanged for nearly a decade as of Sunday. For minimum-wage workers who have a 40-hour work week, and work 52 weeks without having any unpaid time off, this equates to just $15,080 annually, according to a CNN calculation. Twenty-one states reportedly use the federal minimum wage as their base. Lawmakers approved the last increase on 24 July 2009. Ocasio-Cortez: $2.13 minimum wage for tipped workers is 'indentured servitude' Read more The number stands in sharp contrast to what some researchers believe is an average living wage. Two working parents in a family of four would need to earn $67,146 to cover expenses. That equates to $16.14 an hour for each parent, CNN reported. The record delay comes amid potentially significant economic growth. The US has enjoyed roughly 10 years of economic expansion, which may soon become the longest such expansion in this country’s history, according to USA Today. Inflation, meanwhile, has led to a loss of purchasing power. CBS reported that $7.25 in 2009 is valued at only about $6 in 2019. The cost of living has soared 18% since the last increase, per CBS’s report.

Source: Guardian

Asia

Huawei will miss sales forecasts by about $30 billion over the next couple of years because of a US campaign against its business, the founder and CEO of the Chinese tech company said Monday. "In the next two years, I think we will reduce our capacity, our revenue will be down by about $30 billion compared to the forecast, so our sales revenue this year and next year will be about $100 billion," Ren Zhengfei said during a panel discussion at Huawei's headquarters in Shenzhen. Sales last year grew by about 20% to 721 billion yuan ($104 billion). The embattled Chinese tech firm has since become a flashpoint in the US-China trade war. The Trump administration delivered a huge blow on May 16, when it added Huawei to a blacklist that bars US companies from selling it technology without first obtaining a US government license. Washington fears that Beijing could use its equipment to spy on other nations and it's been pressuring allies to shut the company out of next generation super-fast 5G wireless networks. Huawei has repeatedly denied that any of its products pose a risk to national security.

Source: CNN

 
Indexes of Stock Exchanges
17.06.2019
Dow Jones Industrial
26 112.53 (22.92)
Nasdaq Composite
7 845.02 (48.37)
Commodity exchanges
17.06.2019
  Commodity Price  
Light crude ($US/bbl.)51.92
Heating oil ($US/gal.)1.8000
Natural gas ($US/mmbtu)2.3800
Unleaded gas ($US/gal.)1.6900
Gold ($US/Troy Oz.)1 345.20
Silver ($US/Troy Oz.)14.84
Platinum ($US/Troy Oz.)791.30
Hogs (cents/lb.)82.25
Live cattle (cents/lb.)105.62

       Discover Bulgaria

Hristo Smirnenski (1898 - 1923)

Hristo Dimitrov Izmirliev (Smirnenski) was born on September 17, 1898 in the town of Kukush, back then in the Ottoman Empire today, Kilkis, Greece. After burning his home town, he moved with his family to Sofia. He worked for some time as a newspaper reporter, as well as a clerk. At age 16 he began to collaborate with humorous publications where he first signed up with one of his most famous pseudonyms as humorist - Vedball. From the following year, he published humorous poems and feuilletons in "Bulgaran", "Rodna Lyra", "Art Week", "Laughter and tears", "Drum", "Sila". Unusually resourceful and fruitful, despite his youth, Vedbal became one of the most sought-after and popular for that time humorous writers. In 1917 he signed the pseudonym Smirnenski for the first time, with which he remained popular in the classics of Bulgarian literature. On June 18, 1923, he died from Tuberculosis at the age of 24 due to complications of his illness. He is a representative of post-symbolism in Bulgarian literature and bequeaths over 800 lyrical and more than 100 prose works. The name of Hristo Smirnenski bears Cape Hristo Smirnenski on the island of Robert, South Shetland, Antarctica. (Source: /bg.wikipedia.org)


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