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Business Industry Capital
ISSN 1311-364X
Monday, 21 October 2019, Issue 5062
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(21.10.2019)
  EUR   1.95583  
GBP   2.26278
USD   1.75505
CHF   1.77867
EUR/USD   1.1144*
ECB exchange rate
Basic Interest Rate
  as of 01.10   0 %  


Bulgarian Stock Exchange - 18.10.2019
  Total turnover (BGN): 184 370.98  
Traded companies: 32
Premium 68 469.86
Standard 45 782.72
REIT 69 930.24
Structured 188.16
Biggest change
Texim bank JSC - Sofia -9.29 %
Holding Nov Vek JSC - Sofia 7.01 %
BaSE - Shares: 1 091.55
BaSE - REIT: 1 219.96

Manufacture of electronic valves and tubes and other electronic components
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Xpeqt SPLTD - Sofia   26 338  
  2   Tremol SMD LTD - Veliko Tarnovo   23 720  
  3   Mikroak SPLTD - Botevgrad   21 453  
  4   Asel LTD - Plovdiv   19 534  
  5   Zavod for Telefonna Aparatura JSC - Bansko   13 283  
  6   ITW Ispra Controls Bulgaria SPLTD - Plovdiv   13 092  
  7   Olimex LTD - Plovdiv   9 680  
  8   Bovie Bulgaria SPLTD - Sofia   7 218  
  9   Sisko Set Electronics LTD - Sofia   6 246  
  10   IBG Motors SPLTD - Tutrakan   4 972  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Agropromproject 2000 JSC - Sofia
Damianitza JSC - Damyanitza
Food Logistics Platform JSC - Plovdiv
Garant-Invest holding (PF Garant-invest) JSC - Kyustendil
Khan Krum JSC - Han Krum
Niproruda JSC - Sofia
Pazari - Gabrovo JSC - Gabrovo
Pension Assurance Institute JSC - Sofia
Royal Referal JSC - Sofia
 
Forthcoming General Meetings



Financial news

Bulgaria's current account was in surplus of EUR 4.15 billion in January-August, compared to a surplus of EUR 2.41 billion in the like period of 2018, the central bank said in a monthly balance of payments report. The current account surplus in the first seven months of this year was equivalent to 7% of Bulgaria's expected 2019 gross domestic product (GDP). In August alone, Bulgaria's current account was in surplus of EUR 955.9 million, which compares to a surplus of EUR 1.0 million in August 2018.

Source: investor.bg

Foreign direct investment (FDI) into Bulgaria, calculated according to the directional principle, grew to EUR 603.5 million in the January-August period of 2019, up from EUR 407.2 million in the same period of last year, the central bank said. The FDI inflow was equal to 1% of the BNB’s 2019 GDP forecast. The largest FDI inflow came from investments in debt instruments - just over EUR 1 billion. This offset a EUR 327 million outflow of foreign direct investment in equity, and a EUR 72.1 million outflow of reinvestments of earnings. The largest positive net direct investment inflow in Bulgaria in the January-August period of 2019, of EUR 241.9 million, came from the Netherlands. Germany and the U.K. followed with EUR 191.4 million and EUR 108.6 million, respectively.

Source: SeeNews

 
Companies

Two Bulgarian units of Turkish glass manufacturing group Sisecam are planning to boost their production of automotive windows and glassware, respectively, Bulgaria's energy ministry said in a statement. To support Sisecam Automotive Bulgaria's and Pasabahce Bulgaria's plans the Electricity System Operator is currently investing BGN 3 million in the expansion of the power substation near the two companies' plants in Targovishte. The power substation expansion is expected to be completed in March 2020. In addition, gas transmission network operator Bulgartransgaz is building a 17.6-kilometre gas pipeline to the production facilities, in order to ensure extra quantities of natural gas. The project is expected to be wrapped up in July 2020. The road infrastructure near the production facilities will also be improved.

Source: SeeNews

At least BGN 295 million will be invested by BDZ by the end of 2024 in the renovation of many of the old and depreciated trains. All public procurement can be carried out without external lending, as the company has sufficient cash flows, which, however, have not been used so far due to poor management. It is not a question of the state subsidy of BGN 175 million a year, which BDZ-Passenger Transport receives under its contract with the state until its expiration in 2024. The amount is earmarked to cover the costs of social rail transport and maintenance on trains on less busy railway lines. However, the company also receives a capital transfer of BGN 39 million annually for the repair and purchase of new rolling stock. Thus, for the five years to the end of 2024, BDZ will receive BGN 195 million from the state earmarked for the modernization of its trains.

Source: economic.bg

Vagledobiv Bobov Dol SPLTD, related to the energy businessman Hristo Kovachki, has been declared bankrupt by the Kyustendil District Court after proceedings began seven years ago. However, the decision is not final and can be appealed to a higher court. The claim for the resumption of bankruptcy proceedings for failure to fulfill the rehabilitation plan comes from the National Revenue Agency (NRA) and joined by the state-owned Mini - Bobov Dol SPJSC, also bankrupt. The reason for the claim is that Vagledobiv Bobov Dol has missed at least two payments to the state, which is sufficient reason for the debts to be immediately due. The case file and the expertise show that as of May 2019 the company owes over BGN 102 million for taxes and insurance.

Source: Dnevnik

Bulgarian construction company Trace Group Hold has sold on October 16 a 63.25% stake in Trace Trans to Italy's GCF - Generale Costruzioni Ferroviarie for EUR 1.3 million. Trace Trans was a wholly-owned unit of Trace Group Hold before the transaction. Trace Group Hold did not provide further details. The deal has not been entered into Bulgaria's commercial register. Trace Group Hold's activities include rehabilitation, reconstruction and construction of roads, highways, airports, underground stations and underground railways, ground railroads and facilities, urban infrastructure and road marking.

Source: SeeNews

The banking system's profit for the first six months of the year reached EUR 470 million, up 14.6% compared to June 30, 2018. The Return on Assets (ROA) indicator was 1.69% and the Return on Equity (ROE) was 12.98%. This is seen in the quarterly magazine of BNB "Banks in Bulgaria". Banking assets reached EUR 55.52 billion at the end of June, up 0.3% in the second quarter of the year. During the second quarter of 2019, deposits in the banking system increased by 0.3% to 47 billion euros at the end of June.

Source: BNR

Bulgarian insurance companies Euroins and Bulgarian Export Insurance Agency - BAEZ, intend to stop operating in Denmark, according to data from Bulgaria's Financial Supervision Commission (FSC). Bulgaria's financial regulator has informed its Danish peer of the two companies' plans. Euroins is majority-owned by financial and insurance group Eurohold Bulgaria, while BAEZ is 100% state-owned.

Source: investor.bg



       Bulgarian Industrial Association

Industrial Association-Gabrovo hosted a training, dedicated to e-commerce

Foreword from the publisher The schoolbell also struck for the third issue of the annual magazine of the Bulgarian Industrial Association “Noblesse Oblige”.

Minister Valchev: The connection between the labor market and the educational institutions is happening, but it is delayed We need to convince children and parents that vocational education provides a good professional realization

Mergers & Acquisitions (M&A): booster for growth of the Bulgarian businesses Atanas (Nasko) Jordanov - Karoll Investment chief executive officer heading.



 

       World

Europe

The German government has lowered its 2020 forecast for economic growth to 1.0% from 1.5% before, a source familiar with the projection told Reuters on Tuesday. The person added that Berlin is still seeing this year’s gross domestic product (GDP) growth at 0.5%. (Reporting by Michael Nienaber and Holger Hansen; writing by Thomas Seythal; editing by Alexander Ratz and Thomas Escritt). “The economic situation in Germany is still stable, we have lower growth, but we will (have) better growth in the next year,” Scholz told CNBC, adding that the country’s labor market is robust. Scholz explained that much of the economic slowdown seen in Germany throughout 2019 was caused by external factors, such as the trade war. “It is absolutely necessary that we understand that there are some things we can do, but most things could be done internationally, solving conflicts, because this would help the world economy to grow,” he said.

Source: CNBC

America

The United States on Friday imposed a range of punitive tariffs on European goods. Washington announced the countermeasures in response to subsidies for Airbus. It is looking to recoup damages of $7.5 billion. World Trade Organization (WTO) mediators had greenlighted the move Monday. The plan includes duties of 10% on Airbus planes and 25% for agricultural products like French wine, Italian cheese, and Scottish whisky. French Economy Minister Bruno Le Maire criticized the move on Thursday ahead of the decision and said there would be "concrete" repercussions if implemented. "We, Europeans, will take similar sanctions in a few months, maybe even harsher ones — within the framework of the WTO — to retaliate to these US sanctions," he said in a radio interview earlier this week. The tariffs are intended to punish the European Union. The WTO confirmed the US argument that Airbus received billions of dollars in illegal subsidies, giving the aircraft producer an unfair advantage over American competitor Boeing. Airbus-producing countries Britain, France, German, and Spain will be subject to more tariffs than other EU member states.

Source: DW

Asia

A subsidiary company of China National Chemical Engineering (Group) Co. Ltd. (CNCEC), has signed an agreement with a Russian company to build a natural gas processing and chemical plant in a small town near Russia's shoreline of the Gulf of Finland. The deal, which is worth about 12 billion euros (around 13.3 billion U.S. dollars), was signed between the China National Chemical Engineering No. 7 Construction Company Limited (commonly referred to CC-7) and Baltic Chemical Complex of Russia, said the CNCEC in a statement disclosed on the Shanghai Stock Exchange. The total construction period will last for 5 years. The CNCEC said in the statement that it would continue to tap the Russian market, promote pragmatic cooperation for mutually beneficial and win-win results, as well as push forward the construction of the Belt and Road Initiative in the direction of high-quality development. Baltic Chemical Complex is a subsidiary company of RusGazDobycha, a vertically integrated company within the Russian gas market, established to undertake projects in Russia, including production, transportation and processing.

Source: Xinhua

 
Indexes of Stock Exchanges
18.10.2019
Dow Jones Industrial
26 770.20 (-255.68)
Nasdaq Composite
8 089.54 (-67.31)
Commodity exchanges
18.10.2019
  Commodity Price  
Light crude ($US/bbl.)53.67
Heating oil ($US/gal.)1.9300
Natural gas ($US/mmbtu)2.3100
Unleaded gas ($US/gal.)1.5700
Gold ($US/Troy Oz.)1 493.20
Silver ($US/Troy Oz.)17.58
Platinum ($US/Troy Oz.)897.40
Hogs (cents/lb.)67.95
Live cattle (cents/lb.)113.62

       Discover Bulgaria

21 October - General Vasil Delov liberated the Eastern Rhodope Mountains

General Vasil Delov was born on December 25, 1861 in the town of Kotel. His father’s family is from the line of Georgi Rakovski. His mother was the sister of Gavril Krastevich. He received primary education in his hometown. Graduated the famous Aprilovska High School (Gabrovo). During the Russo-Turkish War (1877-1878) is in the town of Tulcea. There he is preparing to study in Russia with Sava Dobroplodni. He mastered French, German and Russian. Secretary of the Tulcea municipal government (1878). In 1879, he graduated with the first class of the Military School in Sofia. His actual military service began in the 20th Varna Infantry Battalion (1879). An active participant in the construction of the Bulgarian Army. Publisher of "regular soldiers in the infantry," which is the first training manual in the Bulgarian army. After that he wrote "Guide for non-commissioned officers in the study of the scattered formation", "Trenches of infantry with pictures" " Guide for officers in training fencing", "Knife fighting table with drawings", "On disciplinary action and gymnastics." He was awarded with the medal "For merits". In the Serbo-Bulgarian War (1885) was the commander of the 2nd Battalion of the 8th Infantry Primorski Regiment. He distinguished in the battles of Pirot ,Neshkov Vrah, Dimitrovgrad and Dragoman. He was awarded with the medal "For Bravery" IV degree. After the war was the commander of the 22nd Infantry Trakiyski Regiment (1892), 9th Infantry Plovdiv Regiment (1893). Delov was made colonel in 1896. He served in Vidin as a garrison commander of the 3rd Infantry Bdin Regiment, Commander of 2 Brigade of 6th and 2nd Infantry Division (1901-1912). During the First Balkan War (1912-1913) was head of the Haskovo Detachment. At the Battle of Kardzhali he pushed the Turks south of Arda and provided the rear of the second Bulgarian army at Adrianople. He was then appointed chief of the 11th Infantry Mixed Division. In March 1913, as Chief of the Southern Division of the Eastern sector, he participated in the siege and assault of the Edirne fortress. He was promoted to rank of Major General. During the Second Balkan War, he commanded the 11th Infantry Division, and during the Kresna battle - of the West squad. During the First World War, he is General for orders in the Ministry of War and head of the Second Divisional area (1918). He retired in 1919 and established with his family in Plovdiv. In 2012 was published a print book by historian Vera Tashkova - General Delov and the activities of the Haskovo Detachment during the Balkan War (1912-1913), published by the newspaper Nov Jivot (New Life). In the town of Kardzhali has built his monument.


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