In the second quarter of 2019 there is a significant increase in the production of mineral fuels for internal combustion engines (ICE) in Bulgaria on an annual basis, shows the industry report of SFB Capital Market JSC on the development of the sector. The increase year-on-year is 77.4%. Production recovered in the first half of 2019 and almost reached its highest value for the 5-year period from 2017. Bulgaria's foreign trade in mineral fuels recovered in the second quarter of 2019, after the sharp decline a year earlier. Compared to the second quarter of 2018, the increase in value is 2.5 times. The quantities imported into Bulgaria are increasing and the annual growth rate is 36.8%. Export has also recovered from the huge decline a year earlier. On an annual basis, the exported quantities are 4 times higher in the second quarter of 2019. Estimates show that, on an annual basis, the quantities of fuels provided for domestic sales are 13.7% higher. For more information and orders: http://sfb.bia-bg.com

Increase in all pensions by 6.6% from July 1, social minister Bisser Petkov announced on the BNT. In addition to more money for retirees, the 2020 draft budget also includes more resources for a personal assistant for people with disabilities. The social minister explained that the budget for 2020 is still under discussion, but so far pensions are projected to increase. He said it was already clear that pension funding would be up 6.6%. Regarding the amount of unemployment benefit, Petkov said there was still debate about whether there would be a change. Bisser Petkov, Minister of Labor and Social Policy said he is working on a project for affordable housing for people with permanent disabilities. The Ministry has earmarked BGN 1.7 million for the construction of auxiliaries in the homes of disabled people. The Ministry has received 55 projects for building affordable housing for people with disabilities, totaling just over BGN 2 million.

For the twelfth consecutive year, SeeNews ranked the biggest companies in Southeast Europe (SEE) by total revenue in its Top 100 list. Ten Bulgarian companies ranked among the biggest businesses, with two making it into the top 10. For a second consecutive year, Lukoil Neftochim Burgas and Aurubis Bulgaria were among the leading 10 companies in the region, ranking sixth and eighth, respectively. Aurubis Bulgaria was the biggest metals producer in SEE despite a slight decrease in revenue and drop in profit in 2018. Both companies, however, dropped in the TOP 100 SEE ranking from fifth and sixth position, respectively. Kozloduy NPP was the only Bulgarian company to make it into the top 10 most profitable businesses in 2018, assuming eighth place in the ranking, which remained dominated by Romania in terms of entrants, but was led by Serbia's Aerodrom Nikola Tesla and Serbia Zijin Bor Copper. Three of the 10 companies in the money losers ranking were Bulgarian - Lukoil Neftochim, National Electricity Company and Bulgargaz, holding the second, sixth and eighth positions, respectively.

SoftOne Bulgaria, a unit of Greece-based business software group SoftOne Technologies, seeks to expand its operations by growing its portfolio of partners. The Sofia-based company plans to cover the entire country and considers that the biggest Bulgarian cities such as Plovdiv, Varna, Burgas, Stara Zagora and Ruse provide a favourable ground for its business strategy. SoftOne Bulgaria, which is focused on providing cloud-based ERP solutions for small and medium-sized enterprises, started operating in 2017 with a five-year investment plan worth some EUR 1.5 million. The company's portfolio now includes 85 clients and 8 authorized partners. The Greek parent company expects its 2019 turnover to exceed EUR 20 million following the acquisitions of Greek software providers Unisoft and Prosvasis, SoftOne Bulgaria said in July. SoftOne Technologies, part of international investment group Olympia, has more than 47,000 customers in Greece, Bulgaria, Romania and Cyprus.

Eurohold, which is set to acquire CEZ Bulgaria, has no plans to ask for an increase in the price of electricity. This was announced by Asen Hristov, Chairman of the Supervisory Board of the company. Eurohold will present its Strategy for the development of the companies of the CEZ Bulgaria group after the transaction is finalized. According to Hristov, the company will do everything possible to keep the price of electricity at current levels. This, he explained, will be done through the introduction of intelligent network management systems that will help stop the loss of electricity, including by stealing. The acquisition of CEZ Bulgaria was announced in June and is worth EUR 335 million. Hristov stressed that more than 100 people, Bulgarian and international experts are working on it. On Friday, proceedings were opened on the deal by the Commission for Protection of Competition. After its decision, another regulator, the Energy and Water Regulatory Commission, has yet to rule.

German automotive parts and consumer goods group Bosch opened an engineering centre in the Bulgarian capital Sofia. The new centre will employ nearly 200 people who will be developing innovative software solutions for the automotive industry. The centre in Sofia will work in close cooperation with Bosch's engineering centres in Hungary and Romania, as well as with leading automotive companies. In a separate statement, Bulgaria's government said that Bosch's new engineering centre will employ over 500 people by 2023. In 2018, Bosch grew its sales in Bulgaria by 19% to EUR 104 million.

The announced bankruptcy procedure of one of the largest tour operators in Bulgaria - Astral Holidays - will cause another turmoil in the Bulgarian tourist industry after the Thomas Cook bankruptcy crisis. Astral was the representative of Thomas Cook in Bulgaria. At the same time, it turns out that the tour operator has outstanding obligations to its suppliers - mainly hotels and transport companies. This was reported by Rumen Draganov from the Institute for Evaluation and Analysis in Tourism. "The exact amount of debt is unclear, but certain hotels will not receive the money. Exactly how much will be estimated by the liquidators or bankrupts when they enter the company. It is clear that the situation is not good," Draganov said. According to the Bulgarian National Television, Astral owes BGN 400,000 to transport companies in Sunny Beach alone. The tour operator did not answer if there are any obligations other than those covered by the insurer, their extent and when its partners will receive the amounts due.

A jump in manufacturing fueled a surprise improvement in German industrial production following two months of decline. While good news, the development will do little to alleviate concerns about intensifying trade tensions and waning business confidence. Output rose 0.3% from July, despite a big drop in energy, compared with economist estimates for no change. Investment and basic goods production helped, while motor vehicle manufacturing also grew. But the outlook remains uncertain, with production down 4% on the year and shrinking factory orders signaling that no real turning point is in sight. The euro was up 0.1% to $1.0986 as of 11:25 a.m. Frankfurt time. It’s fallen 2% in the past three months. The numbers come on the heels of a report Monday that showed factory orders continuing to fall. The malaise has started to spread to other parts of the economy, raising the risk of a recession in Europe’s largest economy. Manufacturing, which accounts for some 23% of output, dropped an annual 4.9% in the second quarter.

Ecuador's president has temporarily moved government operations from the capital Quito to the port city of Guayaquil amid protests sparked by the end of fuel subsidies. In a television address, President Lenin Moreno said he would not back down on the fuel price hike and accused his opponents of attempting a coup. It came after more protests and road blockades led by indigenous groups. Hundreds have been arrested amid Ecuador's worst unrest in years. Indigenous-led protests have toppled three presidents in the last few decades. In his speech on Monday evening, Mr Moreno said the protests were "not a manifestation of social discontent in protest of a government decision". "The lootings, vandalism and violence show there is an organised political motive here to destabilise the government, and break the constitutional order, break democratic order," he argued. He said his predecessor and former ally turned arch rival, Rafael Correa, and Venezuelan President Nicolas Maduro were behind the "destabilisation plan". The Social Commitment political movement, which is led by Mr Correa, released a statement rejecting the president's accusations.

Samsung Electronics said its operating profit for the three months that ended in September likely dropped by more than half from a year ago. Operating profit for the third quarter is expected at 7.7 trillion Korean won ($6.43 billion), down 56.17% from a year ago when the world’s largest smartphone maker posted 17.57 trillion won in profit. Still, that third-quarter number, if realized, will be slightly higher than an average analyst forecast of 7.1 trillion won by Refinitiv Smartestimate. The company said its consolidated sales for the three months was 62 trillion won, down about 5.3% from a year ago. Samsung shares jumped 2.41% on Tuesday, beating the South Korean benchmark index that rose 1.21%. If the guidance is realized when the company reveals full results later this month, it will be the third consecutive quarter where Samsung’s operating profit has more than halved from the same period a year earlier. In the three months that ended June, Samsung said its operating profit fell 55.61% on-year.