Bulgaria's industrial producer price index (PPI) increased 2.3% year-on-year in October, after rising 3.7% in September, the National Statistical Institute (NSI) said. The rise in industrial prices in October was driven by a 10.2% year-on-year increase in utility prices. On a monthly comparison basis, producer prices edged down 0.1% in October. The PPI on the domestic market climbed 3.8% on the year and edged up 0.1% month-on-month in October. The PPI on the non-domestic market was unchanged year-on-year and lost 0.3% compared to the value recorded in the previous month.

The international rating agency Standard & Poor (S&P) Global Ratings upgraded Bulgaria's long-term and short-term foreign and local credit ratings to 'BBB / A-2' from 'BBB- / A-3'. The outlook for the rating is positive, the Bulgarian Finance Ministry said. The rating increase is a result of the sustainable development of the Bulgarian economy without accumulation of macroeconomic imbalances. The country's fiscal and external balances are strong, and progress on accession to the Exchange Rate Mechanism II (ERM II) is steady. The positive outlook for the rating reflects the expectations of S&P Global Ratings analysts that Bulgaria's progressively strengthening fiscal and external position will continue, with the country developing steadily in a weaker external economic environment. According to the rating agency, the country has fulfilled its commitments under the ERM II Accession Plan and the Banking Union, but S&P also notes that the final decision on this is not entirely under its control. Institutional convergence has advanced. Legislative changes have been made in the area of macroprudential regulation and the powers of the central bank. The insolvency framework, the management of state-owned enterprises, the supervision of the non-banking financial sector and the framework for combating money laundering have all been improved.

CEZ Distribution Bulgaria invests BGN 4 million in the installation of automated facilities on the electricity distribution network in 2019. The company installs nearly 270 devices that will help the company react much faster in case of possible accidents. This leads to faster responses in the event of an accident and, consequently, to a shorter time in which the customers are without power. In the last two and a half years alone the investment in Network Automation amounts to BGN 11 million.

The Black Sea highway is turning out to be another golden road in Bulgaria. Its design alone will cost about BGN 14 million. With this high price, it is no wonder that the candidates for the task are nine. The bidders' bids were opened on Friday at the Road Infrastructure Agency (RIA). The highway, which is to connect the two major seaside towns - Varna and Burgas, will be one hundred kilometers long. However, the fast road connection will not be ready soon. It will take a year to only prepare the conceptual design - the subject of the current contract. The future designer must present at least three variants for the route in order to select the most suitable one. The RIA expert council will then review the draft at its meetings to make the most recent clarifications. An eco-evaluation of the preferred option should also be made. Sequesteration procedures should also be udnertaken afterwards. The next step is to draw up a technical design and only then will the construction commence. It is not yet clear how much the highway will cost and how the financing will be secured.

Sofia bailiff Milen Buzinski has scheduled a public sale for all the trade names of Standard News media group. The information is posted on his personal website. The newspaper's trademark, all variations with it and other names that the publishing house had ever registered, were being sold. The buyer will be announced on December 19 at 11:00 am. The Standart newspaper has been in dire straits for years and has laid off over 90% of its employees. At the moment it is coming out as a weekly, but it is unclear exactly how many people work there. According to former editorial staff, it now consists of only 4 people. Many have been able to convict their former employer of unpaid wages and benefits, but almost no one has received any money.

Bulgaria's Financial Supervision Commission has approved the prospectus of local software group Telelink Business Services Group for listing its shares on the Bulgarian Stock Exchange. Telelink Business Services Group will list all of its existing 12.5 million shares with a nominal value of BGN 1 each. Telelink Business Services Group was spun off from local Telelink Bulgaria in July, becoming the sole owner of software developer Telelink Business Services. At the time, both Telelink Business Services Group and Telelink Bulgaria were 100% owned by Dutch-registered Telelink Holdings. In September, Telelink Holdings transferred a 78.65% stake in Telelink Business Services Group to the Telelink group's end owner - private individual Lubomir Minchev. At the time, Telelink Holdings also transferred stakes of 6.175% each to Bulgaria-based Assets Management and Alexandrea Invest Group, respectively. Meanwhile, in August Telelink Holdings increased the capital of Telelink Business Services Group to BGN 12.5 million from BGN 50,000.

Bulgarian fertiliser producer Neochim said that its consolidated net loss narrowed to BGN 9.1 million in the first nine months of 2019 from BGN 21.6 million in the same period of last year. Neochim grew its revenue to BGN 202.2 million in January-September, from BGN 143.0 million in the comparable period of 2018, backed by increased exports. The company's exports rose to BGN 132.7 million in the period under review, from BGN 76.8 million a year earlier. Domestic sales increased to BGN 64.7 million from BGN 61.9 million. Operating expenses grew to BGN 211.3 million, from BGN 164.6 million. Expenses for materials jumped to BGN 143 million from BGN 101.1 million. The company's assets fell to BGN 125.8 million at the end of September, from BGN 136.6 million a year earlier. Neochim consolidates the results of local Neochim Protect and Turkey-registered Neochim Taram. At the end of September, local Eco Tech was Neochim's largest shareholder with a 24.28% stake. Euro Fert and Feboran followed with shareholding interest of 24.03% and 20.30%, respectively.

The cost for the German capital airport BER from a media report shows a higher than planned. As the "Bild am Sonntag" reported, the airport company for 2021 to 2024, almost 300 million euros more than previously estimated. The newspaper relies for its information on a confidential report to the shareholders Berlin, Brandenburg and the Federal government. Alone for the completion of the main terminal 212 million euros are still missing to follow-up costs. The cost of the building, rising to 2.6 billion euros. Furthermore, more needs of around 60 million euros for the so-called master plan for 2040 was. so Far, 508 million Euro were foreseen for the period. According to the "Bild am Sonntag" quoted Figures of the airport is needed now, however, 792 million euros for the period. According to the report, the shareholders have reacted angrily to the about the need for more and requested the management to rework. Airport CEO Engelbert Lütke Daldrup was on Friday the 31. October 2020 as the final date for the opening of the BER to be announced. Originally, the airport should be operational in the year 2011, the opening date was postponed again and again.

The Trump administration has moved to substantially cut its contribution to NATO's collective budget according to several US and NATO officials, a symbolic move that comes as many continue to question President Donald Trump's commitment to the transatlantic alliance as he prepares to attend a summit to mark its 70th anniversary in London next week. Previously the US provided some 22% of NATO's direct funding, which covers the cost of maintaining the NATO headquarters, joint security investments and some combined military operations. It's a largely symbolic move as NATO's direct budget is relatively small, at about $2.5 billion, and is separate from national defense budgets that NATO recommends should stand at 2% of GDP. US defense officials tell CNN that the Trump administration sought to reduce its contribution to about 16%, bringing it in line with Germany's, which provides 14.8% despite the US having a larger economy. US and NATO officials said that the other NATO members are expected to make up the shortfall.

BMW and its partner Great Wall Motor said they plan to build a plant in China with a capacity of 160,000 cars per year, and which will produce BMW’s electric MINI brand and Great Wall Motor models. The 650 million euro plant is due for completion in 2022. Automakers and suppliers are scrambling to meet tough new Chinese quotas for less polluting cars. Those rules call for electric and rechargeable hybrid vehicles to account for a fifth of total sales by 2025. The new joint venture Spotlight Automotive, will be based in Zhangjiagang near Shanghai and eventually employ 3,000 staff. Earlier this month, Great Wall gained domestic regulatory approval for the new plant. Great Wall is China’s top sport utility vehicle and pick-up truck maker. It also builds Ora, an affordable battery electric vehicle brand in Baoding, the city where it is based. BMW is following the footsteps of larger peer Volkswagen (VOWG_p.DE), which is readying two Chinese factories to build electric cars next year, and which will have a combined production capacity of 600,000 vehicles. Tesla is aiming for more than 500,000 cars a year by building a new factory in Shanghai.