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Business Industry Capital
ISSN 1311-364X
Wednesday, 17 July 2019, Issue 4996
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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 Bulgarian issue

BNB Exchange Rates
  EUR   1.95583  
GBP   2.16688
USD   1.74270
CHF   1.76599
EUR/USD   1.1223*
ECB exchange rate
Basic Interest Rate
  as of 01.07   0 %  

Bulgarian Stock Exchange - 16.07.2019
  Total turnover (BGN): 121 606.05  
Traded companies: 28
Premium 67 258.42
Standard 47 352.74
REIT 5 792.15
Bonds 1 202.75
Biggest change
Agria Group Holding JSC - Varna 12.50 %
Bulgarian Real Estate Fund REIT - Sofia -4.72 %
BaSE - Shares: 247.50
BaSE - REIT: 48.00

Operation of gravel and sand pits
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  1   Imeris Minerals Bulgaria JSC - Kurdzhali   20 494  
  2   Mineral 2000 SPLTD - Sofia   16 059  
  3   Eskana PLCo JSC - Varna   14 856  
  4   Andela JSC - Bourgas   11 257  
  5   Holcim Careering Materials JSC - Sofia   10 774  
  6   Holcim Careering Materials Plovdiv JSC - Plovdiv   8 434  
  7   Polaris 8 LTD - Varna   8 069  
  8   Inert Materials Yambol JSC - Yambol   6 427  
  9   MDZ Balsha JSC - Balsha   6 265  
  10   Blagoustroistveni Stroeji SPLTD - Bourgas   5 371  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Construction Enterprises JSC - Sofia
Eсo Etropol JSC - Plovdiv
Milpain JSC - Sofia
Ossmo JSC - Sofia
Premier Fund REIT - Varna
Quadrant Beverages JSC - Lozen - SG
Forthcoming General Meetings

Financial news

The Ministry of Agriculture has prepared a National Plan for the Development of Organic Farming until 2027. The goal is to establish Bulgaria as leader in a number of bio-products. The sustainability of small organic farms will be promoted through their cooperation. Opportunities for free counseling and professional training for bio-farmers are being launched. From 26,662 hectares in 2011, certified areas for cultivation of bio-cultures in Bulgaria increased to 162,332 ha in 2018. Bulgaria is among the leaders in Europe according to the number of hives, meeting the requirements for organic farming, and is the largest manufacturer of organic rose and lavender oils in the world. Production of essential oil from Lemon balm (Melissa officinalis) has also been growing. Organic farming is a priority sector for support under the Rural Development Program.

Source: BNR

Life in Bulgaria became slightly cheaper since the beginning of this year, according to the specialized thematic ranking of the digital platform NUMBEO. It is prepared every six months and it takes into account rental prices, store products and prices in restaurants in the country and city. In the current ranking, Bulgaria is 31st in Europe at a "cost of living", which is a one place drop to the last update. However, then and now from all of the EU Members, life is cheaper than Bulgaria only in Romania. The data show that the average cost of eating in a mid-range restaurant is BGN 10, ranging from BGN 8 to BGN 15. The bread costs an average of BGN 1.01, but it can be found for BGN 0.75, a dozen eggs are on average BGN 3.05, and one kilogram of chicken breast costs an average of BGN 8.93. The utilities per month - water, electricity, garbage fee for and etc. are on average BGN 175.98 an apartment of 85 square meters. The rent for one-bedroom apartment in the centre of a big city is about BGN 495 and a square meter is bought for over BGN 2100.



The Bulgarian representation of the Lithuanian payment service company Paysera Bulgaria opened an office and support center in Romania. Local businesses and individuals in the country will now be able to have an account in foreign currencies, make transfers with minimum fees and exchange currency at lower rates. Paysera entered the Bulgarian market in 2016. The company's expectations are the multi-currency account offered by Paysera's platform to facilitate partnerships between Bulgarian and Romanian companies. Organizations in both countries will be able to have accounts in Bulgarian leva or Romanian leu, through which they can be paid faster and easier with low commissions with their partners. Paysera works in 184 countries worldwide, has local representatives in 6 European countries and a network of 50 partner banks. In 2018 alone nearly 400,000 customers have made more than 1.9 million transfers through the Paysera platform for nearly EUR 3.9 billion.

Source: Banker

The Commission on Protection of Competition is investigating the technological giant Apple into possible abuse of dominance during negotiations with the Bulgarian Telecommunications Company (BTK), which owns the mobile operator Vivacom. The Commission on Protection of Competition did not name the subject of the dispute. BTK explained that the claim against the US corporation is over a pressure on the conclusion of contracts for the distribution of iPhones. The Bulgarian mobile operator Vivacom has rejected the pressure, because of the unfavorable conditions that were offered, but now it voices discontent that unlike the other competitors on the Bulgarian digital market it cannot offer Apple iPhones.

Source: BNR

A public discussion of a ten-year development plan for Bulgartransgaz for the 2019 - 2028 period was held by the Energy and Water Regulatory Commission (EWRC). The plan prioritizes the extension of gas transmission infrastructure in the Bulgarian-Turkish section and to the Bulgarian-Serbian border and maintenance of technically sound, reliable and efficient basic and auxiliary gas infrastructure. For this period, modernization, rehabilitation and extension of gas transmission networks and facilities are envisaged. The plan includes development of system interconnection and expansion of natural gas storage capacity. In the 2019-2028 period, new interconnections with neighboring countries will be built and put into operation. According to the plans, Bulgaria will pass through key cross-border gas pipelines, which will be connected to the existing Bulgartransgaz gas transmission system. The implementation of the current plan is expected to increase the quality and volume of services provided by Bulgartransgaz, related to the transport and storage of natural gas anddirectly contributes to establishing Bulgaria as a significant regional gas hub.

Source: BTA

NЕРІ Rосксаstlе, which owns the Sofia malls, Раrаdіsе and Sеrdіcа Сеntеr, has signed a non-binding agreement with the Dutch-based AFI Еurоре for the sale of the entire Romanian portfolio of the company. The agreement guarantees to AFI Еurоре an exclusive right of administration for the portfolio of offices in our northern neighbor, including four buildings valued at around EUR 309.2 million at the end of December last year. AFI has eight weeks to conduct legal and financial checks. The four buildings have a total built-up area of nearly 170,000 square meters. AFI Еurоре, a subsidiary of АFІ Рrореrtіеs, is a company that has been building, managing and investing in buildings in Central and Eastern Europe since 1997. АFІ Еurоре has a strong presence in Bulgaria. It builds and now owns and manages Business Park Varna with a total built-up area of 44,000 square meters. The company is also behind three residential complexes in Sofia - Vіtоshа Тulір, Lаgеrа Тulір and Маlіnа Тulір, which is in the process of being built. AFI Еurоре is planning a logistic park near Plovdiv with a total built-up area of 148,500 square meters.


VMware Bulgaria, part of US-based cloud computing company VMware, said that its net loss widened to BGN 12.5 million in 2018 from BGN 8.4 million the year before, following a rise in expenses for salaries. VMware Bulgaria's expenses for salaries grew to BGN 75.4 million last year from BGN 57.3 million in 2017. The company's total operating expenses increased to BGN 119.9 million in 2018 from BGN 95.4 million in 2017. VMware Bulgaria's sales rose to BGN 108.3 million from BGN 88.9 million in 2017. Assets at the end of 2018 amounted to BGN 50.0 million, up from BGN 41.5 million a year earlier. VMware Bulgaria employed 863 people at the end of 2018, compared to 686 people at the end of 2017. The company expects to keep growing the number of its employees at the same pace in 2019.

Source: SeeNews

       Bulgarian Industrial Association




Turkey plans to send a fourth ship to waters off Cyprus to search for gas and oil despite European Union moves to curb contacts and funding for Ankara over the issue, the foreign ministry said on Tuesday. “The decisions will not affect in the slightest our country’s determination to continue hydrocarbon activities in the Eastern Mediterranean,” the Turkish Foreign Ministry said. The dispute stems from overlapping claims to regional waters by Turkey and Cyprus linked to the split of the island between Greek and Turkish Cypriots. Ankara rejects agreements the internationally recognized Cypriot government has reached with other Mediterranean states on maritime economic zones. Turkey has told energy firms not to work with the Cypriot government and sent ships to drill off the island, divided since a Turkish invasion in 1974 triggered by a Greek-inspired coup.

Source: Reuters


JPMorgan Chase & Co reported a 16% rise in quarterly profit as higher net interest income and a tax gain more than made up for lower activity at the bank’s trading desks. Net income at the largest U.S. bank rose to $9.65 billion, or $2.82 per share, from $8.32 billion, or $2.29 per share a year earlier. Net revenue rose 4% to $29.57 billion. Analysts were expecting earnings of $2.50 per share and revenue of $28.90 billion, according to IBES estimate from Refinitiv. It was not immediately clear if the reported numbers were comparable with the estimate. JPMorgan’s results are closely watched by investors looking to gauge the health of the U.S. economy. Goldman Sachs Group Inc and Wells Fargo & Co will report quarterly results later in the day.

Source: Reuters


Malaysia will lodge a complaint with the World Trade Organization over the European Union's plan to phase out the use of palm oil in biofuels, a minister said Tuesday. The Southeast Asian country is the world's second biggest palm oil producer after Indonesia and would be hit hard by the EU's plan to cut its use in biofuels by 2030. "Malaysia will file a WTO complaint... hopefully by November," Teresa Kok, the minister responsible for the edible vegetable oil, told AFP. She said the attorney-general's office was working on the complaint and Malaysia hoped to cooperate with Indonesia in the case. Palm oil is a major ingredient in a wide range of products from food to cosmetics but it has long been controversial as environmentalists say it drives deforestation, with huge swathes of rainforest logged in recent decades to make way for plantations. Its use in food and cosmetics has already dropped in Europe, partly due to pressure from green groups on major corporations, but has been increasing in biofuels.

Source: AFP

Indexes of Stock Exchanges
Dow Jones Industrial
27 335.63 (-23.53)
Nasdaq Composite
8 222.80 (-35.39)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)57.61
Heating oil ($US/gal.)1.9000
Natural gas ($US/mmbtu)2.3300
Unleaded gas ($US/gal.)1.9000
Gold ($US/Troy Oz.)1 406.80
Silver ($US/Troy Oz.)15.64
Platinum ($US/Troy Oz.)844.70
Hogs (cents/lb.)75.30
Live cattle (cents/lb.)109.25

       Discover Bulgaria

July 17 – day of St. Marina

St. Marina’s Christian holiday is officially celebrated on July 17. She is one of the first female martyrs of faith, canonized as saints. According to the legend, Marina was born in III century in Antohia Pisidiiska, in the family of a pagan priest. She was brought up in a time, when idols were worshipped, and Christians were severely pursued. When she was 12, for the first time she heard the name of Jesus Christ and her heart was filled with love for him. Once, when she was already grown up, she met the ruler Olivrius and told him she was a Christian. Her extraordinary beauty struck the ruler, who immediately asked her to become his wife. She refused and was put in chains and brought before the court. In prison, Marina unexpectedly saw the Radiant Cross above her, and when the next day stood before court again, everyone was amazed to see her deep wounds from the previous day completely healed. She suffered many tortures, but was firm and didn’t stop praying to God for one thing only – to be able to go through the water of the Wholly Baptism. The ruler ordered to drown her in a cask of water, with her hands and feet tied. When Marina was thrown into the water, she started praying again, asking God to tear the chains and to make the water her wholly baptism. The miracle happened, and Marina herself was surrounded by extraordinary light. Nevertheless, she was sentenced to death, and her sentence was executed on July 17 – the day, when all Christians celebrate her memory. This day is highly esteemed in Bulgaria’s Southern Black Sea coastal area. It is the official holiday of Sozopol, which protector is St. Marina.

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