Bulgaria is one of eleven countries in the European Union (EU), in which investment has not yet recovered to pre-crisis levels. This is stated by the European Investment Bank (EIB) in its annual investment report, which summarizes the results of the annual survey of 12 500 enterprises in Europe. Greater lag is reported only in Greece. The other countries, where the investments are stalled, are Slovenia, Romania, Cyprus, Portugal, Spain, Latvia, Finland, Croatia, Lithuania - ie. most countries in Eastern and Southern Europe. Against the background of data that 85% of EU companies invest, with their share reaching 95% in Finland and Slovenia, in Bulgaria this share is the lowest in the EU - 67%, according to the data. At the same time, Bulgaria is expected to be among the EU countries where public investment will increase its importance in national budgets. In 2019 and 2020, capital expenditures will represent a larger share of government budgets in most EU countries than in 2015-2018.

The latest BNB data show that by end-October mortgage and consumer loans to households grew by double-digit - consumer ones by 10.8% compared to the same month of the previous year to BGN 11.226 billion. Over the same period, housing loans increased by 14.1% to BGN 10.5 billion. Household loans totaled BGN 23.651 billion (20.4% of GDP). Compared to the same month of 2018, they increased by 9.4% (9.1% annual increase in September 2019). Data from the central bank show that bad and restructured loans shrink by double digits for an year as well - by 22%. Despite the insignificant interest rates on bank deposits, households continue to keep their money there, data show. They are already BGN 54.188 billion (46.8% of GDP) at the end of October. This is an increase of 8.2% compared to the same month of 2018 (8.2% annual growth in September 2019).

The European Commission has taken action against four countries over their national rules of public procurement and concessions. Brussels has sent opinions to Czechia and Poland that their national legislations are not in conformity with Union public procurement and concession rules. The EC has also sent letters of formal notice to Bulgaria and Italy asking for more information on the two countries’ national rules implementing Union legislation in these spheres. Each country has 2 months to answer. After that the EC will decide whether to continue the procedure against this country and Italy, and whether it will bring action against Czechia and Poland at the EU Court of Justice.

Manchester Airports Group (MAG) plans to challenge the Bulgarian competition regulator's decision to dismiss its complaint concerning the procedure for awarding a 35-year concession contract to run Sofia Airport. MAG's offered investments of EUR 1.5 billion are 2.5 times higher than the offer picked by Bulgaria's transport ministry, the British airport group said in a statement, announcing its intention to challenge the decision before Bulgaria's Supreme Administrative Court. In July, Bulgaria's transport ministry ranked first the offer of a consortium led by French investment firm Meridiam Eastern Europe Investments. The consortium proposed to pay a concession fee of EUR 24.5 million per year for the duration of the contract and invest EUR 608 million in Sofia Airport. The decision was appealed by all other participants in the tender but the Commission for Protection of Competition dismissed their complaints earlier this month.

The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), jointly with Sofia Tech Park, the Bulgarian Startup Association (BESCO), SoftUni, M3 Communication Group, the Bulgarian Export Insurance Agency, the Business Cluster Association, Endeavor Bulgaria, the Bulgarian Industrial Association and the Higher School of Insurance and Finance (VUZF) will create an Export Hub. Its purpose is to work actively to support the internationalization of the business and increase the Bulgarian export activity. Export Hub Bulgaria will work with the assistance of Bulgarian companies who want to expand their business beyond the borders of the country. It will create a platform that will make it easier for businesses to enter foreign markets and provide them with access to the necessary information about the specifics and features of a given market. The initiative will enable companies to develop and improve their skills and knowledge, as well as participate in a network to share market information, experiences and knowledge through online and offline events.

The National Railway Infrastructure Company has signed a contract for the modernization of the Elin Pelin-Vakarel railway section. The segment is from LOT 1 from the project "Modernization of the Elin Pelin-Kostenets railway section". The section between Elin Pelin and Vakarel is the most difficult to perform on the whole route between Sofia and Plovdiv. Its length is approximately 20 km and it covers the largest railway tunnel in Bulgaria, 6.8 km long, which will be built in a tunnel way and will be fully compatible with the requirements for interoperability. The scope of the project includes a new contact network and new systems and facilities for external power supply and external lighting of the station areas. Two two-pipe tunnels with an approximate total length of 1.5 km, a road overpass and a road underpass will also be constructed. The value of the construction contract is BGN 498 800 012 excluding VAT. The implementation period is 72 months.

Vitosha Venture Partners has been selected by the Fund Manager of Financial Instruments in Bulgaria to allocate nearly BGN 40 million for a minimum of 76 Bulgarian start-ups. It will manage the Acceleration and Initial Funding Fund II, the last of the three funds with that purpose. Vitosha Venture Partners will manage public funds in the amount of BGN 35.6 million provided by Operational Program Innovation and Competitiveness 2014-2020, co-financed by the European Regional Development Fund. The selected financial intermediary will finance at least 76 enterprises, with investments in the range of BGN 30 thousand to BGN 2 million per enterprise. FUNF II aims to identify and support prospective start-ups by assisting them with capital and know-how, against which it acquires a minority stake in their capital. The FUNF II investment period will continue until the end of 2023. The FUNF has already established two instruments with a similar focus that are already active on the market. Project proposals are being raised by New Vision 3 with a total resource of BGN 53.4 million and Innovation Accelerator Bulgaria AD, which operates with a total amount of BGN 30.5 million.

Austria's Vienna Insurance Group (VIG) said that net profit from operations in Bulgaria soared 85.8% to EUR 11.5 million in the first nine months of 2019. VIG's gross written premiums (GWP) in Bulgaria grew 33.2% to EUR 172.6 million in the January-September period of the year, while net earned premiums were 11.5% higher at EUR 104.6 million. The rise in GWP was mostly driven by health premiums, which more than doubled to EUR 30.7 million, from EUR 12.7 million the year before. Regular life insurance GWP posted a 14.2% rise to EUR 22.8 million, while single life insurance GWP added 5.3% to EUR 7.7 million. On the non-life segment, motor third party liability insurance premiums also posted a hefty 52.4% increase to EUR 26.2 million, while casco premiums added 11.1% to EUR 45.9 million. Other property insurance GWP was 26.3% higher at EUR 39.4 million. The group's total expenses rose 7.6% year-on-year to EUR 101.9 million in the first nine months of the year. The group is active on the Bulgarian insurance market through Bulstrad non-life insurer, Bulstrad Life and Nova Ins non-life. It also holds a stake in Doverie, the largest Bulgarian pension assurance company.

EU ambassadors approved the Council’s position on a proposal for a common framework and minimum requirements for out-of-court mechanism to recover the value from loans guaranteed with collateral in case the borrower is not able to pay it back. Effective out-of-court enforcement can help prevent the accumulation of non-performing loans (NPLs), as it provides banks with legal instruments to recover collateral more quickly. “The stock of EU’s non-performing loans is at its lowest since the financial crisis, thanks to the more favourable economic situation and a number of measures taken to eradicate them from banks’ balance sheets. Still, the numbers remain high in some Member States and we need to make sure that bad loans don’t accumulate in the future. That’s why it is important to give legal tools to banks to recover the value of failing loans quickly without having to go to court, while ensuring a high level of protection for borrowers” said Mika Lintilä, Finnish minister of finance.

Facebook announced its acquisition of Beat Games, the studio behind hit virtual-reality game "Beat Saber." "Beat Games' accomplishments are already impressive, but Facebook and the Beat Games team know that there is so much more that can be done across VR, games, and music," said Mike Verdu, Oculus director of content, in a blog post. Beat Games will join the Oculus Studio division of Facebook, but it will operate independently out of Prague, the company said. "Beat Saber" is one of the most popular VR games. In the game, players swing virtual sabers at incoming blocks in sync with music, akin to that of the popular "Guitar Hero" series of the 2000s. The game is available on the Oculus Store for $29.99. The company said Beat Games will continue to support "Beat Saber" across all currently-supported game platforms. Facebook did not disclose the size of the deal. Facebook hinted that it may acquire more video game studios in 2020, in a blog post announcing the acquisition. “We’re exploring many ways to accelerate VR,” Verdu wrote. “This is just the beginning.”

Chinese smartphone maker Xiaomi Corp posted its slowest-ever quarterly revenue growth as the country’s smartphone market grapples with a protracted lull in sales and larger rival Huawei increases its share of the market. Demand for smartphones has eased in China as consumers hold on to devices for longer. Shoppers have also rallied behind Huawei, boosting sales at the world’s second-largest smartphone maker, which the United States has added to a trade blacklist. Smartphone sales still account for most of Xiaomi’s revenues but it has been promoting its internet services division, which mainly consists of online ad sales. The business, however, accounts for just 10% of total revenue - the same proportion as when the company listed its stock in August 2018. Revenues at Xiaomi’s smartphone business fell 8% to 32.3 billion yuan in the quarter ended Sept. 30. The company sold about 32.1 million phones during the period, roughly one million units fewer than a year earlier.