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Business Industry Capital
ISSN 1311-364X
Monday, 26 August 2019, Issue 5024
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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 On-line issue
 Bulgarian issue

BNB Exchange Rates
  EUR   1.95583  
GBP   2.16226
USD   1.76758
CHF   1.79549
EUR/USD   1.1065*
ECB exchange rate
Basic Interest Rate
  as of 01.08   0 %  

Bulgarian Stock Exchange - 23.08.2019
  Total turnover (BGN): 1 141 557.59  
Traded companies: 38
Premium 60 823.55
Standard 933 468.84
REIT 147 265.20
Biggest change
VF Altarnativ JSC - Sofia 19.66 %
Neochim JSC - Dimitrovgrad -12.50 %
BaSE - Shares: 1 629.83

Installation of electrical wiring and fittings
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  1   Toshel 92 SPLTD - Sofia   27 896  
  2   Bulelektriks LTD - Sofia   18 638  
  3   Impulse Co LTD - Sofia   16 625  
  4   Andy BG LTD - Trud   14 367  
  5   Electrolux Tabakov & Sons LTD - Plovdiv   12 297  
  6   Energy Ka SPLTD - Plovdiv   11 666  
  7   Bright engineering LTD - Sofia   11 023  
  8   Marmet JSC - Sofia   10 990  
  9   Mega El SPLTD - Kazitchene   10 521  
  10   El Control SPLTD - Stara Zagora   10 177  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Agrostroy-Dobrich JSC - Dobrich
Bolgar New Capital JSC - Varna
Bulgarian energy trading platform JSC - Sofia
Complex Kolhida JSC - Elhovo
Holding Saint Sofia JSC - Sofia
Lemecon JSC - Elhovo
Management Investment group JSC - Sofia
Panayot Volov JSC - Shoumen
Sirma Group Holding JSC - Sofia
SND Kepital JSC - Sofia
Studio 1 group JSC - Sofia
Forthcoming General Meetings

Financial news

Fitch Ratings has confirmed Bulgaria's long-term foreign and local credit rating 'BBB'. The outlook remains positive. This was announced by the press center of the Ministry of Finance. The credit rating assessment is underpinned by stable external and public finances, a stable policy of gradual accession to the euro area, and prospects for sustainable growth. Fitch forecasts real GDP growth to average 3.3% in 2019-2021, which is in line with the median for the group of countries with 'BBB' rating. In the first half of 2019, economic growth exceeded expectations, mainly due to the greater than expected export recovery. Private consumption remains stable, supported by wage increases.

Source: 24 chasa

Deposits of Bulgaria's non-government sector rose by an annual 7.7% to BGN 81.0 billion at the end of July, up from a 7.2% annual rise at the end of June, the central bank, BNB, said. Deposits at the end of July were equal to 70% of Bulgaria's estimated gross domestic product in 2019. Deposits of households increased by an annual 8.1% to BGN 53.4 billion at the end of July. Deposits of non-financial corporations totalled BGN 24.1 billion, up by 3.9% year-on-year, while deposits of financial corporations added 35.1% to BGN 3.5 billion.

Source: Monitor


Although small in size, projects are still being developed in Bulgaria - both by Bulgarian and foreign investors. Economic zones - both new and existing, are coming to the fore in the government's strategy. Three final and one preliminary contract with different companies were signed by National Company Industrial Zones SPJSC for implementation in Economic Zone Sofia-Bozhurishte. The value of the investments is about BGN 52 million, and as a result 100 new jobs will be created. LIM Technics LTD’s investment project is related to expansion of the company activity. The amount of the investment is BGN 4 million and 40 new jobs will be created through it. The other investor in Sofia-Bozhurishte Economic Zone is Zora Logistic MMS LTD, which will build warehouse offices for over BGN 17 million. The investment will provide employment to 33 people. AIKO EOOD will build warehouse space. The company will invest nearly BGN 15 million and create 5 jobs. RGS Invest, which also signed a final contract in July, has a certificate and plans to build a logistics center with ancillary office buildings. Their investment amounts to BGN 16 million, and the base will employ 20 people.

Source: Banker

Bulgarian insurance company EIG Re, part of local Euroins Insurance Group (EIG), is planning to offer insurance services in Greece, according to a statement by Bulgaria's Financial Supervision Commission (FSC). The FSC has informed the competent legal authorities in Greece of the company's intentions. The regulator did not provide further details. EIG Re, previously named HDI Zastrahovane, was acquired by EIG in 2015. The company is mainly active in reinsurance.

Source: SeeNews

Bulgaria's Road Infrastructure Agency will sign a BGN 1.5 million deal, VAT excluded, with local company GBS Infrastrukturno Stroitelstvo for an emergency repair of a viaduct on the Struma motorway damaged by fire. The viaduct near the town of Dupnitsa south of Sofia was damaged earlier this month when trash unlawfully piled under the viaduct by a waste collection company caught fire. RIA said in a notice on Thursday that it will assign the works to GBS Infrastrukturno Stroitelstvo without calling a public procurement tender because of the urgent need of repair of the viaduct in view of traffic safety requirements and the importance of the Struma motorway for the national economy. The viaduct on the Struma motorway connecting Sofia to Kulata checkpoint on the border with Greece was closed for traffic after the fire for safety reasons. GBS Infrastrukturno Stroitelstvo is the company that had built the viaduct and is responsible for fixing any defects on the structure during the warranty period. Works on the project should be completed within 4 months.

Source: Capital

Bulgaria's Expat Asset Management intends to set up a mutual fund named Expat Bulgaria Short SOFIX, according to a statement by the Financial Supervision Commission (FSC). The FSC asked Expat Asset Management to provide further information and documents regarding its plans to set up the investment fund. Currently, Expat Asset Management operates 11 exchange-traded funds (ETFs) tracking the performance of stock indices from the CEE region, including the SOFIX, and three mutual funds. Expat Asset Management is a wholly-owned subsidiary of local Expat Capital.


Bulgarian medical consumables producer Etropal said that its consolidated net profit after minority interest remained flattish year-on-year at just BGN 22,000, slightly down from BGN 38,000 in the same period of 2018. Etropal's revenue fell to BGN 4.1 million in the January-June period of 2019 from BGN 4.4 million in the comparable period of last year. Operating expenses decreased to BGN 4.1 million in the review period from BGN 4.4 million the year before, as expenses for materials fell to BGN 2.3 million from BGN 2.6 million. The company's assets rose to BGN 14.5 million at the end of June from BGN 12.6 million a year earlier, due to an increase in inventory and trade receivables. Etropal consolidates the results of its majority-owned unit Etropal Trade.

Source: SeeNews

       Bulgarian Industrial Association




Prime Minister Boris Johnson said that if Britain leaves the European Union without a deal, it will no longer legally owe the 39 billion pound divorce bill agreed by his predecessor Theresa May. Earlier British media reported Johnson would use a meeting with European Council President Donald Tusk on the sidelines of the G7 Summit to set out that Britain would pay less than 10 billion pounds of the settlement if it leaves without a deal. The figure was 9 billion pounds, while the Sunday Times reported British government lawyers had concluded the amount Britain was legally obliged to pay could be as low as 7 billion pounds. “I think what the entire European Union understands is that if we come out without a deal then...the 39 billion is no longer legally pledged,” Johnson told Sky News, when asked if he had told EU leaders this week he planned to withhold the money. “As I’ve said many, many times we will therefore on November 1 have very substantial sums available from that 39 billion to spend on supporting our farmers...and indeed for investment in all sorts of areas.”

Source: Reuters


French President Emmanuel Macron said the leaders of the world’s major industrialized nations were close to an agreement on how to help fight the Amazon forest fires and try to repair the devastation. “There’s a real convergence to say: ‘let’s all agree to help those countries hit by these fires’,” he told reporters in Biarritz, which is hosting the annual summit of leaders from the Group of Seven nations. He said the G7 countries comprising the United States, Japan, Germany, France, Italy, Britain and Canada, were finalizing a possible deal on “technical and financial help”. Macron shunted the Amazon fires to the top of the summit agenda after declaring them a global emergency, and kicked off discussions about the disaster at a welcome dinner for fellow leaders on Saturday. An EU official, who declined to be named, said the G7 leaders had agreed to do everything they could to help tackle the fires, giving Macron a mandate to contact all the countries in the Amazon region to see what was needed.

Source: Reuters


China unveiled its latest rankings for 500 largest private enterprises, with tech giant Huawei atop the list amid sound development of the country's private business. The list by the All-China Federation of Industry and Commerce (ACFIC) came at the China Top 500 Private Enterprises Summit 2019 held in Xining, the capital of northwest China's Qinghai Province. Huawei peaked the list with a revenue of 721.2 billion yuan (102 billion U.S. dollars) in 2018. Top companies also include HNA Group, Suning, Amer International, Evergrande,, Country Garden, Hengli Group, Legend Holdings and Gome Holdings. To be listed, an enterprise needed to have revenues exceeding 18.59 billion yuan last year. A total of 20 of China's private firms were also on the list of the world's top 500 companies, three more than last year.

Source: Xinhua

Indexes of Stock Exchanges
Dow Jones Industrial
25 628.90 (-623.34)
Nasdaq Composite
7 751.77 (-239.62)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)53.56
Heating oil ($US/gal.)1.8100
Natural gas ($US/mmbtu)2.1800
Unleaded gas ($US/gal.)1.5200
Gold ($US/Troy Oz.)1 551.40
Silver ($US/Troy Oz.)17.61
Platinum ($US/Troy Oz.)864.20
Hogs (cents/lb.)59.30
Live cattle (cents/lb.)99.40

       Discover Bulgaria

Shipka National Park – The Monument of Freedom

The monument of Freedom, situated on the Shipka summit, was officially opened on August 26, 1934. It was built with the voluntary contributions of the Bulgarian people, under project created by the architect Atanas Donkov and the sculptor Alexander Andreev. Its building started in 1926 and was completed in 1934, when the monument was officially opened by King Boris III. It is a part of the national park Shipka, which is situated exactly in the place, where the legendary battles related to the defence of the Shipka passage from the Turks during the Russian-Turkish war took place. The monument consists of many floors, on which an exposition is shown, revealing the heroism of the Russian soldiers and Bulgarian volunteers, who fought for the liberation of our country. When one comes out on the last floor platform, one can see the restored details of the battle-field, the numerous monuments and common graves, which still keep the memory of the heroic deeds of the people.

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