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Business Industry Capital
ISSN 1311-364X
Thursday, 08 August 2019, Issue 5012
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(08.08.2019)
  EUR   1.95583  
GBP   2.11778
USD   1.74597
CHF   1.79089
EUR/USD   1.1202*
ECB exchange rate
Basic Interest Rate
  as of 01.08   0 %  


Bulgarian Stock Exchange - 07.08.2019
  Total turnover (BGN): 417 018.63  
Traded companies: 28
Premium 77 375.18
Standard 331 127.08
REIT 6 165.56
Structured 1 533.39
Rights 817.42
Biggest change
Himsnab Bulgaria JSC - Sofia 9.90 %
Holding Nov Vek JSC - Sofia -9.70 %
BaSE - Shares: 1 030.00
BaSE - REIT: 3 450.00

Manufacture of electrical equipment for engines and vehicles n.e.c.
BEIS rating
Top 10 companies by
Fixed
Assets
for 2017
(thous. BGN)
  
  1   Sensata Technologies Bulgaria SPLTD - Sofia   161 195  
  2   Yazaki Bulgaria SPLTD - Yambol   98 384  
  3   Kostal Bulgaria Automotive SPLTD - Pazardzhik   43 920  
  4   SE Bordnetze - Bulgaria SPLTD - Karnobat   32 859  
  5   Dynamo Sliven JSC - Sliven   24 004  
  6   Nursan Otomotiv SPLTD - Bourgas   14 697  
  7   Arkomat Bulgaria SPLTD - Kazanluk   11 901  
  8   Elektrocabel Bulgaria SPLTD - Sofia   5 363  
  9   Wireless Electric JSC - Sofia   4 695  
  10   Chariot Motors JSC - Sofia   1 886  
Make your own Bulgarian companies rating in BEIS

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Financial news

The average salary in Sofia is BGN 1724. Sofia residents earn about BGN 480 more than the national average wage of BGN 1247, according to the latest official data of the National Statistical Institute for March. But if the NSI data subtracts the salaries in the capital, it turns out that the average salary for the rest of the country is just over BGN 1000, and the citizens of Sofia receive 70% more. In only nine districts, salaries averaged over BGN 1,000, according to NSI data. Immediately after Sofia, the residents of Stara Zagora are ranked with an average salary of BGN 1179. The main reason for this is the factories for the production of car parts in the city. In third place with BGN 1145 is Sofia-region. This is due to the fact that many people work in the capital but live in neighboring cities. The fourth position is for Vratsa, where people are paid an average of BGN 1129. The ranking continues with Varna, Plovdiv, Gabrovo, Razgrad and Ruse. Salaries in Plovdiv, Gabrovo and Razgrad crossed the BGN 1000 mark for the first time in September 2018.

Source: Trud

Bulgaria’s Cabinet approved the allocation of up to BGN 857.5 million in budget funding for two major infrastructure projects co-financed with EU funds. The bulk of the money, up to BGN 741.1 million, are for the Struma Motorway that links capital Sofia to the Kulata-Promachonas border checkpoint on the border with Greece. The funds would be used for the construction of the most difficult and expensive stretch of the motorway, through the Kresna gorge, which is also slated to receive EU funding in the current EU multi-year budget for 2014/20. Part of the funding will also be used on the rehabilitation of some of the already-built parts of the motorway. The motorway has seen increased traffic in recent years, as it is the preferred route for Bulgarian holidaymakers heading to and returning from Greece. The Government also allocated an additional BGN 116.4 million for the modernisation of the railway stretch between Kostenets and Septemvri, which is a key part of the country’s rail infrastructure as it handles traffic from Burgas Port and Turkey towards the border with Serbia.

Source: Sofia Globe

 
Companies

DB Cargo Bulgaria SPLTD, which acquires the Wagon Repair Plant, relocates its headquarters in Karlovo. The company will rebuild the business, operate and pay taxes in Karlovo. This was stated at a press conference in the Municipality of Karlovo by the President of the Supervisory Board of the company, Otto Niederhofer. The Mayor of Karlovo, Dr. Emil Kabaivanov, held a working meeting with the Executive Director of DB Cargo Bulgaria Eng. Lyubomir Garchev and the President of the Supervisory Board - Otto Niederhofer. "A serious investor like DB Cargo shows that it is possible to invest in karlovo, and this investment is significant to us," said Mayor Dr. Emil Kabaivanov, adding that he had talked with the Minister of Economy about the possibility of the company to obtain a Class A investor license.

Source: Marica

All privately owned state property will be sold on an electronic platform. This will also allow auctioning of properties of companies with more than 50% state participation and those in which state-owned companies have more than 50% participation. This is clear from a draft regulation for an electronic real estate platform published for public comment. The e-sale also includes properties under BGN 10 thousand, which are the responsibility of the regional governors, as well as of separate parts of medical establishments. The project was prepared by the Privatization Agency and submitted by the Minister of Economy Emil Karanikolov. The creation of the electronic platform was entrusted by a public contract to the state-owned company Information Services JSC, and then it would be managed and developed by the Privatization Agency. It will record every transaction from bidding to electronic exchange of documents between bidders. Each action shall be authenticated by electronic time stamps.

Source: 24 chasa

Bulgaria's Financial Supervision Commission (FSC) approved the prospectus of local Port Flot-Burgas for listing on the Bulgarian Stock ExchangePort Flot-Burgas will list all of its existing 10 million shares with a nominal value of BGN 1 each, the financial regulator said. The company is 99.99% owned by local ARZ Holding-2002, according to commercial register data. Local private investor Dimitar Hristov controls the remaining 1 share. ARZ Holding-2002 is fully controlled by Great Britain-registered Monterina Ltd.

Source: SeeNews

Nikolay Marinov has acquired 9.93%, or 80,000 shares, from the capital of NID Industrial Fund JSC. The seller is Roslin Capital Partners - Bulgaria LTD, which sold its entire stake of 13.33% or 107,466 shares. The traded share is controlling in the fund because there was no other shareholder with a share above 5% of the capital. Prior to the transaction, the capital was distributed mainly to 31,404 individuals, holding 85.7% of the capital. Legal entities control 14.3%. The transactions are not listed on the floor of Bulgarian Stock Exchange - therefore, they are probably on an off-market. The last transaction on a regulated market with shares of NID Industrial Fund JSC is from June 27, 2019 for 25 shares at a price of BGN 1 per share. NID Industrial Fund JSC is the former Industrial Privatization Fund since the time of the mass privatization in 1995. The total number of shares is 805,951. The equity of the Fund as of June 30, 2019 is BGN 401 thousand upon loss of BGN 45 thousand for the first half of 2019. The assets of the Fund are allocated in deposits in the amount of BGN 244 thousand and in financial instruments in the amount of BGN 158 thousand.

Source: investor.bg

TPP Maritza East 2 accumulated a loss of BGN 144.9 million from the beginning of the year to the end of June. This is clear from the published analysis of the financial situation of the plant. The negative result of the company deteriorates with another BGN 20.7 million compared to the first half of 2018, and the company remains in a difficult financial state. Costs for carbon offsets alone for the six months of 2019 were BGN 192.1 million. Separately, the cost of TPP Maritza East 2 to the Electricity System Security Fund is over BGN 15.3 million. Thus, in the current market situation, the company is not able to cover its costs and relies mainly on the support of BEH, the report of the state-owned TPP reads. The report starts with the positive part - operating income is BGN 354.2 million and has increased by 23.15% compared to the first half of last year. At the same time, electricity sales fell to 3.2 million MWh, down by 8.28% from the same period last year. Despite lower sales on the free market, the coal plant reported a sales growth of BGN 27.7 million (9.79%). Higher revenues were generated due to higher prices on regional exchanges and the Independent Bulgarian Energy Exchange.

Source: 3e News



       Bulgarian Industrial Association


 

       World

Europe

Industrial production in European powerhouse Germany fell back in June, official data showed, adding to a picture of a eurozone suffering from trade wars and global uncertainty. Output at producer firms shed 1.5 percent in June from the previous month, federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, after a 0.1-percent increase in May. The fall was much sharper than the 0.6 percent predicted by analysts surveyed by Factset. Compared with June 2018, production was dramatically lower as well, losing 5.2 percent. "The business cycle in industry remains in a downturn," the economy ministry in Berlin said in a statement, noting that production fell 1.8 percent across the whole second quarter. "Metal production, machine-tool making and carmaking contributed especially to the retreat," the government economists said. Looking in more detail at June's results, a breakdown showed that output of capital goods, producer goods and consumer goods all fell back, with producer goods firms the worst hit. Energy output was also down, while construction expanded slightly thanks to good weather.

Source: AFP

America

US President Donald Trump and the Republican Party are suing California over recent legislation requiring presidential candidates to file tax returns in order to stand in primaries. State Governor Gavin Newsom, a Democrat, signed the law last week. In two lawsuits, the plaintiffs said it was unconstitutional as it added an extra requirement to run for president. Mr Trump has refused to release his tax returns, saying that they are under audit. California is the first state to succeed in passing such a law, though others under Democratic control have tried. It would apply to ballots for primary elections but not the general election. The state is involved in more than 40 lawsuits against the Trump White House on issues such as environmental regulation and immigration. In the first lawsuit, the Republican National Committee said the law was "a naked political attack against the sitting president of the United States". It argues that the law would "directly impede" Mr Trump's chances of gaining the Republican nomination. California provides 14% of delegates needed to win. A second lawsuit by the Trump campaign argues that states do not have the power to supplement qualifications for president set out by the US Constitution.

Source: BBC

Asia

China has told India not to block its Huawei Technologies from doing business in the country, warning there could be consequences for Indian firms operating in China. India is due to hold trials for installing a next-generation 5G cellular network in the next few months, but has not yet taken a call on whether it would invite the Chinese telecoms equipment maker to take part, telecoms minister Ravi Shankar Prasad has said. Huawei, the world’s biggest maker of such gear, is at the center of a geopolitical tug-of-war between China and the United States. U.S. President Donald Trump’s administration put the company on a blacklist in May, citing national security concerns. It has asked its allies not to use Huawei equipment, which it says China could exploit for spying. Two sources privy to internal discussions in New Delhi said India’s ambassador in Beijing, Vikram Misri, was called to the Chinese foreign ministry on July 10 to hear China’s concerns about the U.S. campaign to keep Huawei out of 5G mobile infrastructure worldwide.

Source: CNBC

 
Indexes of Stock Exchanges
07.08.2019
Dow Jones Industrial
26 007.07 (-22.45)
Nasdaq Composite
7 862.83 (29.56)
Commodity exchanges
07.08.2019
  Commodity Price  
Light crude ($US/bbl.)52.67
Heating oil ($US/gal.)1.7900
Natural gas ($US/mmbtu)2.1000
Unleaded gas ($US/gal.)1.6600
Gold ($US/Troy Oz.)1 512.10
Silver ($US/Troy Oz.)17.18
Platinum ($US/Troy Oz.)868.90
Hogs (cents/lb.)66.85
Live cattle (cents/lb.)106.45

       Discover Bulgaria

The fortress Bozhenishki Urvich

The only natural oak forest in the western Predbalkan is preserved in the trim reserve of Uchilishtna gora (School wood), Botevgrad district. The area was declared reserve in 1963. It is situated near the village of Bozhenitza and spreads on a territory of 136.3 hectares. The reserve represents a century-old oak wood, with an average age of the winter oaks of over 110 years and an average height of 22 m. In proximity to the reserve, on the western slopes of the Lakavishki hill, a unique cultural monument stands – the fortress Bozhenishki Urvich. It is situated on a peak in the shape of a truncated cone, surrounded on three sides by steep, almost upright slopes. Here an inscription in the rocks from the 14th century bespeaks important events for Bulgaria from the end of the 14th century – Bulgaria’s falling under Ottoman yoke. Upon archeological excavations around the gate of Bozhenishki Urvich a treasure of silver coins of Tsar Ivan Shishman was found. The coins were found scattered at a depth of 0.2-1.5 m. In 5th-6th century the fortress was a unit of the early-Byzantine defence system. At the end of 14th century Bozhenishki Urvich was a residence of Sebastocrator Ognyan. The fortress is partially examined.


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