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Business Industry Capital
ISSN 1311-364X
Wednesday, 04 December 2019, Issue 5094
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(04.12.2019)
  EUR   1.95583  
GBP   2.29558
USD   1.76662
CHF   1.78664
EUR/USD   1.1071*
ECB exchange rate
Basic Interest Rate
  as of 01.12   0 %  


Bulgarian Stock Exchange - 03.12.2019
  Total turnover (BGN): 1 944 005.53  
Traded companies: 35
Premium 75 188.02
Standard 1 793 920.37
REIT 68 866.40
Structured 1 018.60
Bonds 5 012.15
Biggest change
Expat Beta REIT - Sofia -47.06 %
Elhim - Iskra JSC - Pazardzhik 7.56 %
BaSE - Shares: 390 716.25
BaSE - REIT: 1 800 256.00

Manufacture of bicycles
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Cross LTD - Montana   146 049  
  2   Maxcom SPLTD - Tzaratzovo   79 075  
  3   Leader 96 SPLTD - Plovdiv   54 133  
  4   Sprinter LTD - Montana   17 268  
  5   Velotec SPLTD - Tzaratzovo   11 657  
  6   Velomania SPLTD - Sofia   9 399  
  7   Cross Vidin LTD - Vidin   5 981  
  8   Balkanvelo JSC - Lovetch   5 270  
  9   Maxtec SPLTD - Tzaratzovo   2 275  
  10   Vromos.Com SPLTD - Bourgas   966  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Europaper Bulgaria JSC - Rousse  
Forthcoming General Meetings



Financial news

The MPs have determined the amounts of monthly social security income for 2020. The amounts were set out in the Law on the Budget of the Social Insurance Company for the next year. The texts stipulate that the minimum social security income for self-insured persons in 2020 is 610 BGN. Social security income - 3000 BGN. BSP suggested that the amount for the self-insured and the farmers should be BGN 650. However, their proposals were rejected. The Socialists wanted the maximum social security income to be raised to BGN 3900. The MRF suggested that the minimum monthly amount for farmers and tobacco producers should be BGN 400.

Source: 24 chasa

The budget surplus at the end of November was BGN 1.072 billion (0.9% of the estimated GDP), according to preliminary data of the Ministry of Finance. The MoF points out that by the end of November, revenues, grants and donations under the Consolidated Fiscal Program (CFP) are expected to amount to BGN 39.82 billion, which is 90.8% of the annual estimate. Compared to November 2018, revenues increased by BGN 4 billion, with an increase in both tax and non-tax revenues, as well as in the part of the grants and donations, where the EU grants mainly come. The growth in tax revenues is BGN 2.73 billion, the non-tax revenues increase by 1.01 billion, and revenues from grants and donations - by 260.2 million BGN. In the non-tax revenue part, the base effect in the revenue part of the budget of the Electricity Security Fund, mainly due to the amendments to the Energy Act from 01.07.2018. Bulgaria's contribution to the EU budget as of November 2019 amounts to BGN 38.7 billion, which is 83.7% of the annual estimate.

Source: Monitor

 
Companies

Toplofikacia Sofia SPJSC will participate independently on the Bulgarian Independent Energy Exchange (BNEB) in 2020, the company announced. The preparation for independent market entry has already been completed. Rules for the procedure for selecting a coordinator of a standard balancing group and internal rules for participation of the Bulgarian Independent Energy Exchange have been approved.

Source: actualno.com

Bulgarian diversified group Bulgartabac Holding said that its consolidated net profit fell to BGN 3.6 million, excluding minority interest, in the first nine months of 2019, compared to a net profit of BGN 8.1 million in the same period of 2018. Bulgartabac Holding's consolidated revenue edged down to BGN 266.6 million in January-September from BGN 272.4 million in the comparable period of 2018, the company said. The group's operating expenses totalled BGN 263.1 million in the review period, little changed from BGN 263.4 million the year before. The assets of Bulgartabac Holding dropped to BGN 594.9 million from BGN 832.8 million mainly because the diversified group lost its control of Blagoevgrad-based units BL-Retail Real Estate and BL-B. Haskovo-Tabac and Asenevgrad-Tabac, other units of Bulgartabac Holding, are currently in the process of liquidation. In September, cigarette maker Blagoevgrad-BT, a unit of Bulgartabac Holding, sold 100% of electronics retailer Technomarket Bulgaria to local company Market Investment.

Source: SeeNews

The first account-based system providing flexibility and real-time management of urban mobility in Bulgaria was launched successfully in Stara Zagora. The Stara Zagora City Transportation app is available on the Apple App store and Google Play. The supplier company Telelink shared some of the main advantages that set it apart from other similar services in the area. The application is built on an innovative platform in order to provide Mobility as a Service (MaaS), which enjoys increasing popularity in the world of "smart cities", announced the press center of Stara Zagora Municipality. The platform provides services in the field of urban mobility, both in Bulgaria and on the international market. The app is the first in the region and one of only a few in Europe. The Stara Zagora City Transport application has the ability to support discounted subscription cards.

Source: Trud

The Bulgarian company Nu Boyana Film will set up a film studio in the city of Termi, located near Thessaloniki. This was announced by Greek Minister of Digital Governance Kiriakos Perakakis. The investor is property of American Millennium Films, one of the longest running independent film companies in Hollywood. "This is an investment of EUR 20 million from Nu Boyana Hellenic, which will employ at least one hundred permanent employees," said Central Macedonia Regional Governor Apostolos Tsitsikostas. "Our goal is to make Thessaloniki the heart of audiovisual productions in Southeast Europe," he said, adding that "this will be the first region in the country to acquire a fully functional film studio." The film studio will extend to 8.3 hectares, will include eight film complexes, and the total area of the studio space is 25,000 square meters.

Source: economic.bg

Bulgarian diversified group Holding Varna said that its consolidated net profit, excluding minority interest, more than doubled to BGN 10 million in the first nine months of the year from BGN 4.2 million in the same period of 2018. Holding Varna trimmed its expenses to BGN 52.4 million in the January-September period, compared to BGN 57.6 million in the comparable period of 2018, Holding Varna said in an interim financial statement. The company lowered its expenses for hired services to BGN 11.8 million in the review period from BGN 15.2 million the year before, and cut its personnel costs to BGN 12.6 million from BGN 16.2 million. Holding Varna's revenue also fell, to BGN 61.9 million in the first three quarters of the year from BGN 64.5 million in the year-ago period. The company’s portfolio includes companies in the tourism, real estate, financial and other sectors.

Source: SeeNews



       Bulgarian Industrial Association

Radosvet Radev: What we need is a more active governmental policy which will lead to an investment improvement



 

       World

Europe

Minister Josip Bilaver from Croatia, the next country to hold the Presidency of the Council of the European Union, chaired on 3 December the meeting of the EU Ministers of Transport and Communications, the Finland's Presidency reported. The Finnish minister Sanna Marin had to return to Helsinki in the middle of the Council meeting due to the political situation in Finland. Finnish Prime Minister Antti Rinne stepped down on Tuesday and handed in his government's resignation at a meeting with President Sauli Niinisto after a row erupted over the state-owned postal services and his leadership style. Rinne's resignation came after one of his coalition partners said they no longer had his support. The president has asked the government to stay on in a caretaker capacity. The coalition took office in June, a month before Finland took over the six-month rotating EU presidency.

Source: Associated Press

America

Bank of America is now set up to deal with the U.K.’s exit from the European Union, a senior executive said. While the firm is ready for Brexit, it has “consumed days and nights and a few nightmares,” the firm’s Vice Chairman Anne Finucane said in a speech in Dublin on Tuesday, adding she didn’t want to discuss the subject further. The Irish capital serves as the headquarters of the firm’s European bank, with approvals granted a year ago by regulators. BofA will have about 800 people in Dublin, 500 in Paris, as a result of Brexit transition, Finucane said at conference in the Irish capital earlier this year. The transition would cost the firm about $400 million, she forecast. Last month, Citigroup Inc.’s European head Zdenek Turek said U.K. politicians needed to come to a decision on Brexit and avoid prolonging uncertainty. Separately, Finucane said the firm’s environmental, social and governance business is now able to provide financing at market rates and no longer needs to offer lower prices to boost business.

Source: Bloomberg

Asia

Facial recognition checks are about to become even more ubiquitous in China, as rules come into force requiring anyone registering a new mobile phone number to submit to facial scans. While the government says the implementation of biometric data "effectively [protects] citizens' legitimate rights and interests in cyberspace" and helps fight fraud, the move brings with it considerable privacy and security concerns in one of the most tightly controlled online environments in the world. The country already enforces "real-name registration" policies which require people to link online accounts with their official government ID. But the latest move, which was formally adopted Sunday, further removes any sense of anonymity in using the Chinese internet. More than 850 million people across China — about 65% of the population — use their mobile devices to access the internet, according to the government, far more than those who use desktop services. Apps like Tencent's WeChat have largely become the internet for many Chinese people, offering everything from messaging and social networking to taxi services, food delivery and tax payment.

Source: CNN

 
Indexes of Stock Exchanges
03.12.2019
Dow Jones Industrial
27 502.81 (-280.23)
Nasdaq Composite
8 520.64 (-47.34)
Commodity exchanges
03.12.2019
  Commodity Price  
Light crude ($US/bbl.)56.32
Heating oil ($US/gal.)1.8900
Natural gas ($US/mmbtu)2.4400
Unleaded gas ($US/gal.)1.5700
Gold ($US/Troy Oz.)1 486.50
Silver ($US/Troy Oz.)17.31
Platinum ($US/Troy Oz.)914.40
Hogs (cents/lb.)68.38
Live cattle (cents/lb.)125.65

       Discover Bulgaria

St. Martyr Varvara

St. the Martyr Varvara lived during the reign of Emperor Maximian in the town of Iliopol. She dies in torment from the hand of her own father. Despite that, her faith in God was very strong. In the Orthodox church St. Barbara is considered to be the patron of those who died of sudden death. Saint Barbara was born in the family of an aristocrat - a pagan from Iliopol (Asia Minor). According to a study by theologian Ventsislav Kravalchev, however, St. Varvara was born in the village of Eleshnitsa - Razlog (Southwestern Bulgaria), which in ancient times was also called Iliopolis. Varvara was a particularly beautiful maiden. Her jealous father closed her in a tower - away from lustful eyes. During the time she was closed, she studied the outside world out from the window and had plenty of time to meditate on God. When her father allowed her to go out to find herself a suitable husband and get married, Varvara met Christians and accepted baptism. When the father learned that his daughter had become a Christian, he ordered her to be scourged and received the consent of the city's ruler, Martian, to sentence her to death. At the order of the father, Varvara was beheaded. The story tells that God's retribution stroke down Varvara's father and the governor of the city - they were struck by lightning. In the 6th century the relics of st. Varvara were transferred to Constantinople. In our country the holiday was worshiped among the people, intertwining the pagan and Christian customs. In some areas of the country, St. Barbara was considered to be the protector of children from diseases, especially smallpox, and people called her "Baba Sharka". The women knieded and gave out healthy round loafs of bread (the battered dough is first boiled until it comes back to the surface and then it is formed into a round loaf and after that it is baked). The loafs are smeared with honey to conciliate the saint Baba Sharka.


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