The Council of Ministers approved the information on the cash execution of the state budget and the main indicators of the consolidated fiscal program for the first half of 2019, based on the monthly reports on the cash execution of the primary budget spending units. According to the monthly reports of the primary budget spending units, the balance of the CFP on a cash basis as of June 2019 is positive at BGN 3.23 billion (2.8% of the estimated GDP) and is formed by an excess of revenues over expenditures under the national budget in the amount of BGN 3.11 billion and European funds in the amount of BGN 116.9 million. The receipts and benefits under the CFP as of June 2019 amount to BGN 22.29 billion or 50.8% of the annual estimates. Compared to the same period of the previous year, tax and non-tax revenues increased by BGN 2.62 billion (14.2%), while aid receipts (mainly grants under EU programs and funds) increased by BGN 453 million.

Bulgargaz plans to ask for a higher price for natural gas for the fourth quarter of this year. This is clear from the advance notice of the state monopoly, published late last week. The planned increase is by 0.82% so far, to BGN 45.27 per megawatt hour without prices for access, transmission, excise duty and VAT. Compared to the current price, the increase is by 37 cents per megawatt hour. By law, the final price proposal must be submitted by September 10, after which it must be approved by the Energy and Water Regulatory Commission (EWRC). Bulgargaz justifies its demand with higher tariffs for the transmission of natural gas through Romania. Just a few weeks ago the Bulgarian Federation of Industrial Energy Consumers (BFIEC) expressed fears that the price of natural gas would increase by about 3% from the autumn. The reason is that Romania has suddenly decided to raise 150% of its transmission fees. This, in turn, will raise the costs of the plants for the period 2019/2020 by about EUR 18 million.

Megaport SPLTD invested BGN 4.5 million in modern energy efficient equipment for its production. The company purchased energy-efficient machines and put them into operation - a high-performance extruder and an extruder regranulator for a recycling shop, as well as a new washing line for recycling. The specific goals set by the company are the utilization of waste energy, introduction and verification of compliance with the energy management standards in the enterprise, in accordance with the requirements of ISO 50001. With the large-scale investment Megaport will expand its production capacity, achieve significant energy savings and will increase recycling efficiency of polymer waste and waste products. Megaport was founded in 1992. The main activity of the company is the production of polymer films, packaging and materials. It has factories and sales offices in Veliko Turnovo, Sofia, Plovdiv, Varna and Burgas. The company employs 417 people in Veliko Turnovo, making it one of the largest employers in the region.

A new meat and dried delicacies plant is being built in the Elena area. The investor is Elina Vella LTD. The company is located into nearly 10 decares of agricultural land near the town. Procedures are also underway to change their status. The Elena region is famous not only for its pure nature and landmarks but also for its famous sausages. The new establishment will offer mainly meat delicacies. Production technology envisages that the chilled meat delivered is cut, dosed, machined, seasoned and matured in drying chambers.

The state approved BGN 12.1 million, which will go to the specially created company Management and Caretaking of Dams. According to the government, the funds are needed not for the actual repairs of the water facilities in the country, but for the maintenance of the company. These funds will pay salaries, cover administrative costs and buy equipment. The state company was established in June 2018 by a decision of the National Assembly. The responsibilities of the new structure include the management of state and municipal dams throughout the country, which are not owned by NEK and the water supply companies, to maintain them and to be responsible for their issues. When the state-owned company was set up, authorities pointed out that 1,000 dams need major repairs, and those with severe problems are close to 300. The figures, however, are indicative, since there is no accurate data on the number of dams in the country and their property. The municipal authorities were given the right to transfer to the state the water facilities they own, if they do not have the means to maintain them.

Second national provider launches e-vignettes sale, Road Infrastructure Agency (RIA) said. Concord Smart Infrastructure JSC launches the sale of e-vignettes today under the DigiToll brand - both on the specially developed online platform www.digitoll.bg and in the partner network of Intercapital Group, known with the Cashterminal service, which has over 1500 payment terminal devices in the country. At the end of July, Concord Smart Infrastructure JSC proved to be interoperable with the RIA system in accordance with the General Terms and Conditions for National Service Providers. Until now, the RIA has a contract for a national service provider with Intelligent Traffic Systems SPJSC, Teletoll JSC ​​and Concord Smart Infrastructure JSC, with Teletoll JSC ​​hasn’t achieved interoperability with the RIA system yet, and can’t sell electronic vignettes. With the commissioning of the electronic toll collection system based on the distance traveled, the three registered national providers will also be able to offer toll services after proving interoperability with the electronic system of the RIA.

Financial and insurance group Eurohold Bulgaria said its consolidated operating revenue increased by 31% year-on-year to BGN 786.5 million in the first half of 2019. Insurance activities contributed nearly BGN 657 million to Eurohold Bulgaria's total operating revenue in the first six months of 2019, marking a 43% rise on an annual comparison basis. “The successful acquisitions we made in the last couple of years as well as the fair amount of time and effort we have been investing in the integration and development of the companies taken over by Euroins Insurance Group, has recently started to bear fruit," Kiril Boshov, chairman of Eurohold Bulgaria's management board, said. The insurance business of Eurohold across Southeast Europe is grouped in its subsidiary Euroins Insurance Group (EIG). Eurohold Bulgaria's consolidated net profit, excluding non-controlling interest, edged down to BGN 4 million in the first half of the year from BGN 4.1 million in the corresponding period of 2018. The group's consolidated operating profit (EBITDA) grew by 4% year-on-year to BGN 20.1 million in the review period.

A legal bid to prevent British Prime Minister Boris Johnson suspending parliament to stop lawmakers blocking a no-deal Brexit will be heard at a Scottish court next month. A group of about 70 lawmakers from opposition parties are backing a bid to have Scotland’s highest civil court rule that Johnson cannot ask Queen Elizabeth to prorogue, or suspend, parliament before Britain leaves the European Union on Oct. 31. The case had its first court outing on Tuesday at which the Court of Session decided that a substantive hearing would take place on Sept. 6, said lawyer Jo Maugham from the Good Law Project which is supporting the challenge. English courts do not sit in August. Johnson has said Britain will leave the world’s biggest trading bloc on Halloween whether it has a divorce agreement or not and that also remains the legal default position. However, a majority of lawmakers in parliament have previously indicated they would not allow a no-deal Brexit. They have been investigating what parliamentary procedures can be used to prevent such an outcome, and in July backed proposals to make it harder for Johnson to force through any departure without a deal.

U.S. consumer prices increased broadly in July, but the signs of an acceleration in inflation will likely do little to change market expectations that the Federal Reserve will cut interest rates again next month amid worsening trade tensions. The report from the Labor Department on Tuesday could however, reduce the probability that the U.S. central bank will cut rates by half a percentage point at its Sept. 17-18 policy meeting. Financial markets have fully priced in a 25-basis-point cut following a recent escalation in the bruising trade war between the United States and China, which sparked a stock market sell-off and caused an inversion of the U.S. Treasury yield curve, heightening the risk of a recession. Fears about the impact of the trade tensions on the U.S. economic expansion, the longest in history, prompted the Fed to cut its short-term lending rate by 25 basis points last month for the first time since 2008. “The recent pickup in inflation won’t deter the Federal Reserve from cutting interest rates in September as the downside risks to the outlook from trade have become more threatening,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania.

Foreign direct investment (FDI) into the Chinese mainland expanded 7.3 percent year on year to 533.14 billion yuan in the January-July period, the Ministry of Commerce announced. In U.S. dollar terms, FDI inflow grew 3.6 percent year on year to 78.8 billion dollars during the period, the ministry said. FDI in July alone reached 54.82 billion yuan, up 8.7 percent year on year. During the past seven months, a total of 24,050 new foreign-funded enterprises were founded. Investment in high-tech industries climbed 43.1 percent year on year to account for 29.3 percent of the total FDI, among which the high-tech service sector received 97.39 billion yuan, up 63.2 percent. China's pilot free trade zones saw FDI inflow up 14.6 percent year on year during the seven-month period, accounting for 14.2 percent of the total FDI. Western China registered the fastest growth of FDI compared with other regions, with the figure up 25.2 percent year on year to reach 39.94 billion yuan. Foreign investment from Germany and the Republic of Korea climbed quickly in the first seven months, posting growth of 72.4 percent and 69.7 percent year on year, respectively.