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Business Industry Capital
ISSN 1311-364X
Thursday, 04 July 2019, Issue 4987
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(04.07.2019)
  EUR   1.95583  
GBP   2.17920
USD   1.73190
CHF   1.75947
EUR/USD   1.1293*
ECB exchange rate
Basic Interest Rate
  as of 01.07   0 %  


Bulgarian Stock Exchange - 03.07.2019
  Total turnover (BGN): 270 599.28  
Traded companies: 29
Premium 67 173.68
Standard 106 186.14
REIT 97 239.45
Biggest change
Fazerles JSC - Silistra -11.11 %
Sopharma Trading JSC - Sofia 4.48 %
BaSE - Shares: 58 851.60
BaSE - REIT: 21.00

Manufacture of cocoa; chocolate and sugar confectionery
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Nestle Bulgaria JSC - Sofia   262 623  
  2   Mondelez Bulgaria Production SPLTD - Sofia   22 480  
  3   Interion JSC - Kostinbrod   14 231  
  4   Melbon JSC - Sofia   12 610  
  5   Sugar company Plovdiv JSC - Plovdiv   6 523  
  6   Choco Team LTD - Stara Zagora   6 054  
  7   Sweet way LTD - Sofia   4 859  
  8   VIP Simers Group LTD - Plovdiv   4 520  
  9   Ilchovski 94 SPLTD - Varna   3 912  
  10   Darimex 98 SPLTD - Sofia   3 735  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  City Center Levski JSC - Sofia
Neo London Capital JSC - Sofia
Ognyanovo K JSC - Sofia
Sofia Technological Institute JSC - Sofia
Synthetica JSC - Sofia
Termotehnica JSC - Plovdiv
 
Forthcoming General Meetings



Financial news

A completely new law will regulate the way of defined and publicly announcing the public enterprises policy. This was voted by MPs who adopted the Public Enterprises Act submitted by the government at first reading. It will introduce standards for good corporate governance as well as disclosure and transparency obligations for their business and management. The purpose of the law is to create a harmonized legal framework in which public enterprises will operate. The corporate governance and disclosure rules will be the same for all state-owned enterprises, regardless of which authority exercises the rights of the state. Half a month ago, the adoption of the law was postponed because consensus on the texts was not reached between trade unions, employers and ministries. Bulgaria, however, has committed itself to the European Union to improve the management of state property and to ensure that politicians do not interfere with state-owned companies. If Bulgaria do not comply by the end of July, this would mean delaying the entry into ERM II, waiting room for the euro area.

Source: investor.bg

The gender pay gap in Bulgaria is decreasing for the third consecutive year - from 15.4% in 2015 to 13.6% in 2017. This shows Eurostat data quoted in the Report on Equality between Women and Men for 2018 which was adopted by the government. The average pay gap in the EU in 2017 is 16%. The gender equality report also reflects the results of policies to increase women's participation in the labor market, promoting equality in decision-making. Among the priority areas of the document are also the fight against gender-based violence and the change in public stereotypes towards women and men. The report states that in 2018 the average annual number of unemployed persons aged 15-64 is 170,800. Of these, 100,200 are men, and 70,600 are women, which is 33,400 less than 2017. The number of unemployed women has fallen by 21,000.

Source: Novinite.com

 
Companies

Germany's Lindner Group will invest EUR 10 million in a new plant for facade elements in the Bulgarian town of Ruse, on the Danube. The production facility, which is planned to spread on 67,000 sq. m., will create some 200 jobs. The company did not disclose details about the timeframe of the construction works. According to Lindner Group representatives, the company picked Ruse as the site of its investment because of its strategic location on the Danube and its proximity to neighbouring Romania. Lindner Group has established a subsidiary for the purposes of the new investment - Lindner Building Envelope Engineering (Lindner BEE). This is the fifth Bulgarian subsidiary of the group, the other four being management company Lindner Immobilien Management, construction company Lindner Bulgaria, Lindner Real Estate BG and Lindner Facility Management. Last week Lindner Group launched the construction of a BGN 300 million residential compound near Sofia, called Residential Park Lozen. Lindner's other projects in the country also include Business Park Sofia and Residential Park Sofia.

Source: SeeNews

A new congress center with a total capacity of up to 1100 seats was opened during the weekend in Pamporovo after an investment of BGN 4 million. It is a separate wing of the Perelik hotel, according to information published by Pamporovo AD, the owner of the infrastructure in the resort and the five-star hotels Orlovets and Perelik, as well as the boutique villa Arfa. The area of the center is 2700 sq.m. According to information provided by BTA, the investment in the new complex amounts to BGN 4 million, and the purpose is for the resort to be developed as a destination for skiing, summer and congress tourism all year round.

Source: Capital

In 2019, CEZ Distribution plans to invest BGN 110 million in its network in Western Bulgaria. The focus of the investment policy is on the network automation and the installation of remotely serviced meters that provide real-time grid viewing and stricter control that helps for quicker response when needed.

Source: investor.bg

Bulgarian outsourcing company Callpoint New Europe, a unit of TELUS International, said that its consolidated net profit fell to BGN 15.2 million in 2018 from BGN 16.1 million the year before, following a rise in expenses for salaries. Callpoint New Europe spent BGN 109.0 million on salaries last year, up from BGN 93.6 million in 2017. The company's sales revenue grew to BGN 174.4 million in 2018 from BGN 153.2 million the year before. Callpoint New Europe's assets rose to BGN 89.8 million at the end of 2018 from BGN 76.5 million a year earlier, mainly due to an increase in cash and cash equivalents.

Source: SeeNews

The Minister of Environment and Water and the mayor of Yambol Municipality signed a contract for the construction of a composting installation. The amount of the investment is over BGN 3.7 million, of which more than BGN 2.5 million is grant from Operational Program "Environment 2014-2020". The project will build a facility with a capacity of 2400 tons per year for the processing of separately collected green and biodegradable waste on the territory of the municipality. The implementation of the activities is planned to be within 19 months. Thanks to the implementation of this project, a reduction in the amount of municipal waste landfilled will be achieved by providing additional capacity for separate collection and recycling of this type of waste. The project is in line with European and national objectives for a phased reduction of the amount of biodegradable municipal waste intended for landfilling.

Source: Banker



       Bulgarian Industrial Association


 

       World

Europe

The UK economy has suffered its first quarterly contraction in seven years, a closely watched survey suggests, amid growing fears over a no-deal Brexit. According to IHS Markit and the Chartered Institute of Procurement and Supply (Cips), growth in the UK’s dominant service sector, which accounts for four-fifths of the UK economy, came almost to a standstill last month. After activity in the manufacturing and construction sectors plunged into reverse last month, Chris Williamson, the chief business economist at IHS Markit, said the combined picture for Britain suggested economic growth probably contracted by 0.1% in the second quarter. The Bank of England has previously forecast zero growth for the second quarter but some economists expect GDP to have contracted. Growth raced ahead in the first quarter as the stockpiling rush in the run-up to the original 29 March deadline in the Brexit talks provided a shot in the arm for growth. The last time UK GDP went into reverse was in the final quarter of 2012. Now that companies either have adequate stockpiles or can run down their existing supplies, activity in the UK economy is expected to slow.

Source: Guardian

America

Global consumer electronics makers HP, Dell, Microsoft and Amazon are all looking to shift substantial production capacity out of China, joining a growing exodus that threatens to undermine the country's position as the world's powerhouse for tech gadgets. HP and Dell, the world's No. 1 and No. 3 personal computer makers who together command around 40% of the global market, are planning to reallocate up to 30% of their notebook production out of China. Microsoft, Google, Amazon, Sony and Nintendo are also looking at moving some of their game console and smart speaker manufacturing out of the country. Other leading PC makers such as Lenovo Group, Acer and Asustek Computer are also evaluating plans to shift, according to people familiar with the matter. Tech companies' plans, spurred by the bitter trade battle between Washington and Beijing, have not changed despite the truce that was struck between U.S. President Donald Trump and Chinese President Xi Jinping at last weekend's Group of 20 summit in Osaka.

Source: Nikkei

Asia

South Korean car parts manufacturer Inzi Controls has announced the Hungarian city of Komárom as the site of its first manufacturing plant in Europe. The firm will invest EUR 45.8 million in the construction of the e-car battery plant. Speaking in a joint press conference with Hungarian government officials, Cho Yun Hyeong, managing director of Inzi Controls Hungary, said that they had chosen the country for its well-trained workforce, the region’s geographical advantages and the Hungarian government’s support. Inzi Controls, which is a key supplier of car parts to Audi, Continental and Volkswagen, among others, will create 122 jobs at the plant in northwestern Hungary in the short term. The investment is the latest contribution to the Hungarian car battery industry, which doubled production in 2018. Three of the leading five Asian battery manufacturers are present in the country. One of them, SK Innovation from South Korea, recently announced that it planned to increase its global production tenfold.

Source: EUBusiness

 
Indexes of Stock Exchanges
03.07.2019
Dow Jones Industrial
26 966.00 (179.32)
Nasdaq Composite
8 170.23 (61.14)
Commodity exchanges
03.07.2019
  Commodity Price  
Light crude ($US/bbl.)57.02
Heating oil ($US/gal.)1.8900
Natural gas ($US/mmbtu)2.2800
Unleaded gas ($US/gal.)1.9100
Gold ($US/Troy Oz.)1 421.40
Silver ($US/Troy Oz.)15.34
Platinum ($US/Troy Oz.)842.00
Hogs (cents/lb.)78.38
Live cattle (cents/lb.)105.45

       Discover Bulgaria

The Byala Skala area

The area Byala Skala (The White Rock) is located near the town of Velingrad. The Thracian tribes settled the region more than 5000 years ago. The rock itself is more than 220 metres long, 20 metres wide and its sheer cliffs are more than 50 metres high. The size and the location of the rock are the main factors to be used as a natural fortress, requiring minimum fortifications. More interesting is the sanctuary in the upper part of the Byala Skala. Except the finds of Thracian and Roman coins, a lot of pottery from the Bronze and the Iron Age was found there as well. There is a stone path leading to the sanctuary, hewed into the rock. It is 1 meter wide and 32 meter long. The path is very well preserved, because during the centuries, when the fortress and the sanctuary were not used, it was covered by earth and stones. Another interesting thing in the region is the legendary flower Rodopski silivryak (Haberlea Rhodopensis). It has the remarkable quality – anabiosis. This means that the flower has the ability to revive and to bloom, even if it was faded several years.


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