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Business Industry Capital
ISSN 1311-364X
Wednesday, 11 December 2019, Issue 5099
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(11.12.2019)
  EUR   1.95583  
GBP   2.32635
USD   1.76567
CHF   1.79073
EUR/USD   1.1077*
ECB exchange rate
Basic Interest Rate
  as of 01.12   0 %  


Bulgarian Stock Exchange - 10.12.2019
  Total turnover (BGN): 407 015.30  
Traded companies: 34
Premium 127 777.93
Standard 159 034.83
REIT 39 278.54
Bonds 80 924.00
Biggest change
Exclusive Property REIT - Sofia -9.32 %
Zarneni hrani Bulgaria JSC - Sofia 4.76 %
BaSE - Shares: 340.55

Manufacture of metal processing machines
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Rais LTD - Pazardzhik   56 190  
  2   Milko SPLTD - Asenovgrad   28 565  
  3   ZMM - Sliven JSC - Sliven   24 260  
  4   Mashin Komers SPLTD - Asenovgrad   10 076  
  5   Siloma JSC - Silistra   5 703  
  6   Emi JSC - Sofia   4 560  
  7   Red steel SPLTD - Pernik   3 616  
  8   UMT SPLTD - Kazanluk   2 482  
  9   Ustrem 03 LTD - Ovoshtnik   2 253  
  10   Andi Solid LTD - Pleven   2 177  
Make your own Bulgarian companies rating in BEIS

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General meetings today
  Pazari - Gabrovo JSC - Gabrovo
Remontstroy 98 JSC - Pleven
SBH Cariera JSC - Sofia
 
Forthcoming General Meetings



Financial news

The index of industrial production in Bulgaria, calculated from seasonally adjusted data, increased in October by 1.1% compared to September, when it increased by 0.7%. This is shown by preliminary data from the National Statistical Institute (NSI). On an annual basis, industrial production grew in October by 1.7%, which is the strongest growth since April. The data can be interpreted as positive and give grounds for maintaining the expectations for stable growth of the Bulgarian economy at the beginning of the fourth quarter. In October 2019, an increase compared to the previous month was registered in manufacturing - by 1.8% and in mining and quarrying - by 0.7%, while a decrease - in production and distribution of electricity and heat and gas - by 4.6%. %. More significant growth was recorded in manufacturing, not elsewhere classified - by 18.1%, food production - by 6%, manufacture of motor vehicles, excluding cars - by 5.3%, leather processing; manufacture of footwear and other leather products without fur and manufacture of metal products, except machinery and equipment - 4.4% each.

Source: investor.bg

According to preliminary data of the National Statistical Institute, in October the production index in the Construction sector, calculated on the basis of seasonally-adjusted data, is 0.1 percent above the level of the previous month. Calendar data show a 3.1 percent increase in construction output in October 2019 compared to the same month in 2018. In October 2019, the seasonally-adjusted construction output index was above the level of the previous month, as the output of civil/engineering construction increased by 0.2 per cent, while the building construction retained its level from the previous month. On an annual basis, the increase in construction output in October 2019, calculated from the calendar-adjusted data, is determined by the positive rate in building construction, where the growth is 7.9 percent, while in civil/engineering construction reported a decrease of 3 percent.

Source: 24 chasa

 
Companies

Bulgarian software company Transmetrics has won a BGN 3.25 million grant from the European Innovation Council (EIC) Accelerator, which it will use to finance the development of artificial intelligence-based solutions for logistics companies. The project will enable Transmetrics to meet the needs of small and medium-sized logistics companies, which constitute a new market segment for the company. With the transport industries' slim margins, it is crucial for companies in the sector to optimise their resource planning and lower their operating expenses. Transmetrics is the second Bulgarian company to receive a grant under the EIC Accelerator, after EnduroSat in 2017.

Source: Capital

US-based e-learning platform Coursera will expand its IT engineering office in Bulgaria's capital Sofia after the successful acquisition of Bulgaria-based start-up Rhyme Softworks. The company will expand its office space and will double the number of its Sofia-based employees. Following the expansion, the team in Bulgaria will focus on the development of Rhyme, Coursera's hands-on projects training programme. Coursera acquired Rhyme Softworks, an online platform for hands-on projects, in order to develop Coursera Labs, a project for creation of hands-on projects using third-party software applications. Rhyme Softworks, a US-Bulgarian startup, was the first-ever acquisition of Coursera and its team of six became part of the R&D office of the platform, news outlet Trendingtopics.bg reported in August. Coursera, established in 2012 in Mountain View, California, has over 9 million online students, over 600 corporate clients and works with more than 50 universities and industrial partners across Europe.

Source: SeeNews

Heating utility EVN Bulgaria Toplofikatsiya, part of Austrian energy group EVN will invest BGN 4 million in the construction of a new dispatching centre in Plovdiv. The dispatching centre will be built for the needs of EVN's Bulgarian unit Power Distribution South. Through its new dispatching centre Power Distribution South will manage the low- and medium-voltage power supply network of lin southeastern part of Bulgaria. Construction works are expected to be completed by May 2021. EVN Bulgaria Toplofikatsiya provides heating services to over 30,000 clients in Plovdiv, Bulgaria's second-largest city.

Source: mediapool.bg

Dimitar Smilenov, bailiff of the former largest nitrogen fertilizer plant in Bulgaria, Agrobiochim JSC in Stara Zagora, is trying to raise any funds by selling "last pieces" of the assets of the bankrupt plant. On December 11, he announced eight auctions for the sale of properties owned by the company. After dozens of sales attempts, their price has already become more than ridiculous. For example 18,132 sq.m. agricultural land in the area of the village of Hrishteni near Stara Zagora, will be traded at a price of BGN 9660. The same is the situation with other sites of Agrobiochim JSC. The debts of the bankrupt chemical industry enterprises, amounting to tens of millions BGN, are mainly to the state-owned companies Bulgargaz, NEK, and Mini Maritsa Iztok, and at these levels of trade they would never be repaid. The liabilities in question as of September 30, 2000, when the Stara Zagora-based plant went bankrupt, exceeded BGN 90 million. The liabilities to workers alone amounted to BGN 5 million at that time. Available tangible assets did not exceed BGN 10-12 million then, before dozens of revaluations.

Source: Banker

Bulgarian diversified group Rodna Zemya Holding has received anti-trust approval to acquire local meat and meat products company Koopdoverie Lesidren. Rodna Zemya Holding's management is due to take the remaining steps to finalise the acquisition. Koopdoverie Lesidren is 96.19%-owned by local company Doverie. The remaining stake in controlled by local Kooptargovia. Rodna Zemya Holding has been an active player on the acquisitions front this year, as it completed the acquisition of the HIT hypermarket chain from Germany-based HIT Bulgarien GmbH in September.

Source: SeeNews

Festa Holding is the new co-owner of one of Ruse's most renowned hotels - Dunav Plaza. 100% of the capital of Dunav Plaza LTD was sold in two transactions on November 1 against a modest sum of BGN 4000. Thus, the new shareholders in the company with 50% of the capital are F Assets SPJSC and RGS LTD. The owner of the first is Festa Holding, owned by Petya Slavova - entrepreneur and banker, chairman of the supervisory board and majority shareholder in Investbank JSC. The other owners of the remaining 50% are Svetoslav Radev and Anatoly Radev. The price of BGN 4000 seems ridiculous for a company whose assets include a hotel complex such as Dunav Plaza. However, the company's latest financial statements for 2018 shows that its condition is far from flourishing. Although it has been profitable for the last two years, its liabilities exceed the value of the assets by BGN 1.5 million and its equity is negative.

Source: Banker



       Bulgarian Industrial Association


 

       World

Europe

The Council welcomes the Commission Opinion on Bosnia and Herzegovina’s application for membership of the European Union and acknowledges that Bosnia and Herzegovina currently does not sufficiently fulfil the Copenhagen political criteria, and needs to dedicate considerable efforts to strengthening its institutions in order to guarantee democracy, the rule of law, human rights and respect for and protection of minorities. As regards the economic criteria, Bosnia and Herzegovina has achieved a certain degree of macroeconomic stability, whereas it is still at an early stage of establishing a functioning market economy and of becoming competitive within the common market. “Bosnia and Herzegovina’s track record in implementing its obligations under the Stabilisation and Association Agreement needs to improve. Bosnia and Herzegovina is overall at an early stage regarding its level of preparedness to take on the obligations of EU membership and needs to significantly step up the process to align with the EU acquis and implement and enforce related legislation,” it is stated in the first conclusion of the European Council.

Source: Associated Press

America

Needham and Co was the fourth Wall Street brokerage in two months to cut its rating for Netflix Inc, arguing competition from new streaming services could lead to the loss of 4 million premium U.S. subscribers next year. Needham analyst Laura Martin, who downgraded the California-based tech giant to “underperform”, believes Netflix will have to add a lower priced service to compete with competitors including Apple Inc’s Apple TV+ service and Walt Disney Co’s Disney+. The cut came a day after Netflix dominated nominations for January’s Golden Globe awards, landing 17 in TV categories and 17 more for movies, including leading contenders “Marriage Story” and “The Irishman”. Netflix’s video streaming push has seen subscriber numbers dwarf those of rival services at the cost of huge investment in both regional and international content on its platform. The streaming service had 60.62 million paid subscribers in the United States as of its latest quarter ended Sept. 30, accounting for over a third of its global subscriber base.

Source: Reuters

Asia

China’s consumer inflation climbed to nearly eight-year peaks in November as pork prices doubled, but factory-gate prices remained in the red, adding to uncertainty over whether the manufacturing sector is bottoming out as trade risks persist. Beijing is under pressure to unleash more stimulus to boost industrial activity, but high inflation ahead of the Lunar New Year may be a headache for policymakers trying to shore up growth that has slipped to the lowest in nearly 30 years. Consumer prices in November rose 4.5% on year, the fastest pace seen since January 2012, driven mostly by a surge in pork prices as African Swine Fever ravaged the country’s hog herds, National Bureau of Statistics (NBS) data showed on Tuesday. That topped analysts’ expectations of 4.2% and October’s 3.8% rise. However, core inflation - which excludes food and energy prices - stayed largely subdued. “The high CPI would surely have an impact on China’s monetary policy, but overall we don’t see risks of inflation spike across the board, so current monetary policy with a loosening bias will not be significantly affected,” said Liu Xuezhi, an analyst with Bank of Communications.

Source: Reuters

 
Indexes of Stock Exchanges
10.12.2019
Dow Jones Industrial
27 881.72 (-27.88)
Nasdaq Composite
8 616.18 (-5.64)
Commodity exchanges
10.12.2019
  Commodity Price  
Light crude ($US/bbl.)58.94
Heating oil ($US/gal.)1.9500
Natural gas ($US/mmbtu)2.2900
Unleaded gas ($US/gal.)1.6400
Gold ($US/Troy Oz.)1 467.80
Silver ($US/Troy Oz.)16.68
Platinum ($US/Troy Oz.)921.70
Hogs (cents/lb.)67.98
Live cattle (cents/lb.)124.58

       Discover Bulgaria

Kemerov Bridge

Kemerov Bridge is also called Roman, since some research workers date it back to the Roman times. It is located in the Rhodopi mountain, near the town of Devin. The bridge’s arc is an ideal semi-circle, which is where the name of the bridge comes from – kemerov means arc-like. The bridge is made of perfectly arranged river stones, without any plaster or other binding material. The tall part of the bridge’s arc stands on only a few half-processed rectangular stones. In ancient times, an important road, connecting the Thracian land and Thessalonike used to pass through the bridge. To the north of it, one can still see the traces of a stone Roman road, which centuries ago connected Philipopolus and the Aegean ports. Until 1912, the bridge was a border line – its western half was Bulgarian, and the eastern – Turkish. Nowadays, it is a historical monument of culture.


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