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Business Industry Capital
ISSN 1311-364X
Friday, 13 September 2019, Issue 5037
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(13.09.2019)
  EUR   1.95583  
GBP   2.19954
USD   1.78403
CHF   1.79566
EUR/USD   1.0963*
ECB exchange rate
Basic Interest Rate
  as of 01.09   0 %  


Bulgarian Stock Exchange - 12.09.2019
  Total turnover (BGN): 1 104 246.14  
Traded companies: 24
Premium 47 018.63
Standard 1 007 271.52
REIT 48 636.00
Structured 1 320.00
Biggest change
Alcomet JSC - Shoumen 5.91 %
Eurohold Bulgaria JSC - Sofia -2.60 %
BaSE - Shares: 1 100.91

Mining and agglomeration of lignite
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Mini Maritsa Iztok SPJSC - Radnevo   565 959  
  2   Opencast Coal Mining SPJSC - Pernik   31 262  
  3   Vagledobiv Bobov dol SPLTD - Bobov dol   20 190  
  4   Mine Beli Breg JSC - Gaber   12 816  
  5   Mina Stanianci JSC - Sofia   7 412  
  6   Coal Pernik LTD - Pernik   7 217  
  7   Fundamental SPLTD - Bobov dol   4 131  
  8   Balkan MK SPLTD - Pernik   2 895  
  9   Mina Cherno more Bourgas SPJSC - Pomorie   832  
  10   Mine Chukurovo JSC - Gabra   396  
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Financial news

In 2018 Bulgarian goods exported amounted to BGN 56.030 billion, or 2.6% more than in 2017, and imports amounted to BGN 62.875 billion, which is 6.1% more than in the previous year. This is evident from the final data of the National Statistical Institute (NSI). Comparison of the monthly export data between 2018 and 2017 shows that the largest increase was in January (14.6%) and the largest decrease was registered in February (5%). Imports recorded the largest annual growth in January (19.3%) and the largest decline in December (8.6%). According to preliminary data from the national statistics at the end of July, it is clear that Bulgaria is reducing its trade deficit after the trade recorded an annual growth in the first seven months of the year. In each month in the period January-July 2019 there is a reduction of the deficit compared to a year earlier, the largest recorded in February. From January 1 to July 31, Bulgarian goods exported amounted to BGN 33.130 billion, which is 4.2% more than in the period January - July last year. In July alone, exports amounted to BGN 5.273 billion and increased by 2.5% compared to a year earlier.

Source: investor.bg

The amount of the fiscal reserve as of June 30, 2019 is BGN 11.7 billion, incl. BGN 11.3 billion of fiscal reserve deposits with the BNB and banks and BGN 0.4 billion of claims on European Union funds for certified expenditures, advances and more. This was made clear by the government-approved report on the cash execution of the consolidated fiscal program for the first half of 2019. On the basis of the quarterly cash reports for the implementation of the budgets of the first budget spending units, the budget balance under the Consolidated Fiscal Program for the first half of 2019 is positive at BGN 3.22 billion and is formed by excess of revenues over expenditures under the national budget in the amount of BGN 3.11 billion and by European funds in the amount of BGN 115.7 million. The receipts, grants and donations under the CFP as of June 30 amount to BGN 22.29 billion or 50.8% of the annual estimates, reporting an increase of 16% compared to the same period of the previous year. Tax receipts increase in nominal terms by 10.4% compared to the first half of 2018.

Source: Banker

 
Companies

JYSK has opened its logistics base at the Bozhurishte distribution center, located near Sofia. The Bozhurishte distribution center is the eighth JYSK logistics facility in Europe. Currently it services and supplies goods to 80 stores in Bulgaria, Greece and Serbia. Its total area is 95,000 square meters and the area of the plot is 303,000 square meters. The full capacity is 122,000 pallets. Undoubtedly, the most significant and unique of their kind are the two fully automated and human-free towers, say the company. The next steps in the development of the JYSK distribution center is to start shipping to Romania this month and towards the end of the year to Bosnia and Herzegovina. Gradually, by 2020, all online deliveries in the region should be covered. When the center is fully operational, it will serve more than 320 JYSK stores in the Balkans and jobs will exceed 200. The investment is worth EUR 108 million. JYSK entered the Bulgarian market in 2005. To date, the chain has 28 sites in 18 Bulgarian cities, with a total of over 300 employees.

Source: Banker

The Commission for Protection of Competition has opened proceedings concerning retailer Maxima Bulgaria's planned lease of the 11 stores of supermarket chain Triumf in the city of Plovdiv. The 11 stores are currently operated by local companies MarkotsiVanichi 2008 and Top Tennis, a notice published on the regulator's website reads. Interested parties have until September 19 to submit their statements regarding the transaction to the regulator. According to commercial register data, all three companies are fully owned by private investors. Markotsi is owned by Kostadin Kesov, Vanichi 2008 - by Ivan Kesov, and Top Tennis by Todov Kesov. The Triumf supermarket chain started operating in 2000 in Plovdiv. Maxima Bulgaria operates 73 stores under its T-Market brand, located in 38 Bulgarian cities. The company opened nine new stores in 2018 and finished the year with a turnover of BGN 259.7 million and EBITDA of BGN 1.56 million.

Source: SeeNews

Bulgaria's regional development ministry said draft legislation has been prepared that paves the way for the construction of the first hydrogen filling stations in the country by the end of 2020. In the best case scenario envisaged in the act, the number of hydrogen filling stations for automobiles in Bulgaria could reach 10 by 2025 and 50 by 2030. The planned legislation is now available for public consultation. Bulgaria has committed to adhere to the EU target to reach a share of 10% of alternative energy sources in the total motor fuel consumption by 2020. In addition, Bulgaria has pledged to lower the intensity of carbon dioxide emissions from motor fuels by 6% to 2020. In hydrogen fuel cells hydrogen and oxygen combine to produce electricity which powers a vehicle.

Source: investor.bg

"We have requested permission for the experimental burning of 500,000 tons of RDF waste by the Ministry of the Environment and have received one for six months. In practice, we have burned only 17,000 tons in about a month," said the Executive Director of Hristo Kovachki's Brikel TPP, Yanilin Pavlov, during a meeting with the citizens of Galabovo. The experiment was terminated on August 21 at the initiative of the company itself, which has notified all competent institutions. Currently, there are about 7,000 tons of biomass and 3,000 tons of RDF waste at the Brikel storage facility. On September 10, the Regional Inspectorate of Environment and Water - Stara Zagora issued a decree to Brikel TPP to remove the stored fuels (straw) at the site of the thermal power plants, which were not allowed in their complex work permit, by September 25. The CEO hopes that the company will resume its normal operations afterwards. Pavlov told representatives of the citizens of Galabovo and the municipal government that biomass would only be burned in the future if Brickel received a comprehensive permit for it.

Source: Capital

Supermarket chain operator Billa Bulgaria, part of Germany's REWE Group, has opened a new store in Sofia following an investment of over BGN 2 million. Following the new opening, which is Billa's fifth this year, the company operates 129 stores in the country. The new store, which offers a commercial area of 830 square metres, will employ 25 people. Billa entered the Bulgarian market in 2000 and currently operates stores in 38 cities across the country, employing over 4,500 people.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. The ECB cut its deposit rate to a record low -0.5% from -0.4% and will restart bond purchases of 20 billion euros a month from November, it said in a statement. With inflation falling, Germany skirting a recession and a global trade war sapping domestic confidence, the ECB had all but promised more support to the economy and the only question was how extensive stimulus would be. “The Governing Council expects (bond purchases) to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates,” the ECB said in a regular policy statement. The ECB also eased the terms of its long term loans to banks and introduced a tiered deposit rate to help banks. Economists polled by Reuters expected a 10 basis point deposit rate cut, a tiered deposit rate to support banks, bond buys of 30 billion euros a month from October and a fresh promise to keep rates low for longer.

Source: Reuters

America

After an apparent conciliatory move by China, US President Donald Trump made one of his own, announcing that he agreed to delay an increase in tariffs on $250 billion worth of Chinese goods by two weeks. Speaking weeks ahead of the resumption of talks aimed at resolving a grinding trade war, Trump said the tariff delay was requested by Beijing. Top negotiators expect to reconvene in Washington early next month after an acrimonious summer in which trade relations deteriorated sharply and both governments announced waves of new tariffs in a stand-off that is dragging on the global economy. "We have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th," Trump tweeted late Wednesday. He said the delay was requested by "Vice Premier of China, Liu He, and due to the fact that the People's Republic of China will be celebrating their 70th Anniversary," on October 1. Early Wednesday, Beijing announced it was temporarily exempting some US exports from tariff increases, a gesture that lifted equity markets long buffeted by the ups and downs in the conflict now entering its second year.

Source: AFP

Asia

The London Stock Exchange’s board will meet in coming days to make a decision on the Hong Kong bourse’s surprise $39 billion takeover proposal, a source close to the British company said, as the market poured cold water on the deal. The unsolicited takeover offer is not expected to succeed given a preference among LSE investors for the exchange to complete its $27 billion proposed acquisition of data and analytics group Refinitiv. The exchange wants to focus on executing that deal, rather than risk it being derailed by the Hong Kong bourse. Hong Kong Exchanges and Clearing’s (HKEX) offer requires the LSE to ditch the Refinitiv deal. The proposed deal, announced on Wednesday, aims to create an exchange powerhouse spanning Asia and Europe which would be better able to compete with U.S. rivals such as Intercontinental Exchange Inc and CME Group inc. However shares in HKEX fell more than 3% on Thursday as investors raised concerns about the political and regulatory risks involved in its move to take over one of Britain’s marquee financial institutions.

Source: Reuters

 
Indexes of Stock Exchanges
12.09.2019
Dow Jones Industrial
27 182.45 (45.41)
Nasdaq Composite
8 194.47 (24.79)
Commodity exchanges
12.09.2019
  Commodity Price  
Light crude ($US/bbl.)55.00
Heating oil ($US/gal.)1.8800
Natural gas ($US/mmbtu)2.5800
Unleaded gas ($US/gal.)1.5500
Gold ($US/Troy Oz.)1 505.50
Silver ($US/Troy Oz.)18.14
Platinum ($US/Troy Oz.)951.40
Hogs (cents/lb.)64.20
Live cattle (cents/lb.)98.72

       Discover Bulgaria

Nikolay Gyaurov

Nikolay Gyaurov was born in Velingrad on September 18, 1929. He graduated opera singing in Moscow and Leningrad. In Bulgaria, he was taught by Hristo Brambarov. In 1956, he became a solo artist in Bulgaria's National opera. A year later, he started working in Bolshoy theater, and in 1958 – in the Vienna and Paris national operas. In 1956, he made his debute on the stage of the Milano scala and was immediately accepted as its regular member. He was only 26 when he won the big award of the International Singer Competition in Paris and the World Youth Festival in Warsaw. He has won the Orpheus prize of the French academy a number of times, as well as medals Mascani and Luigi Ilicca. Almost simultaneously, he was awarded the big prize of the French academy and the prize of the Italian Association of Art, Culture, and Science. The great Bulgarian basso’s career lasted almost half a century. He sang on some of the world’s most famous stages such as La Scala, the Vienna opera, Bolshoi theater, and Covent Garden. When USA celebrated their 200th anniversary, Nikolay Gyaurov was awarded the title Senior Washington, as well as the UN silver medal of peace. He died on June 2, 2004 in Modena, Italy, at the age of 75.


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