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Business Industry Capital
ISSN 1311-364X
Tuesday, 12 December 2017, Issue 4610
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(12.12.2017)
  EUR   1.95583  
GBP   2.21624
USD   1.65805
CHF   1.67466
EUR/USD   1.1796*
ECB exchange rate
Basic Interest Rate
  as of 01.12   0 %  


Bulgarian Stock Exchange - Sofia - 11.12.2017
  Total turnover (BGN): 6 818 630.93  
Traded companies: 43
Premium 72 294.70
Standard 533 751.89
REIT 36 272.84
Structured 2 762.58
Bonds 6 173 548.91
Biggest change
Sila Holding JSC - Sofia -51.18 %
Severcoop Gamza Holding JSC - Sofia 9.88 %
BaSE - Shares: 12 319.75
BaSE - REIT: 340.00

Manufacture of wines
BEIS rating
Top 10 companies by
Net sales
for 2016
(thous. BGN)
  
  1   Vila Yambol SPJSC - Yambol   32 642  
  2   Vinex Slavyantsi JSC - Slavyantzi   21 363  
  3   Domaine Boyar International SPJSC - Sofia   18 492  
  4   Vinex Preslav JSC - Veliki Preslav   12 513  
  5   LVK Vinprom JSC - Targovishte   12 152  
  6   Domain Menada SPLTD - Sofia   11 920  
  7   Katarzyna Estate SPLTD - Sofia   10 313  
  8   Ivena Commerce - Valentin Shotev ST - Sofia   8 830  
  9   Logodaj winery LTD - Blagoevgrad   7 718  
  10   Loviko Lozari SPJSC - Suhindol   7 581  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Bulgarska zahar (Bulgarian Sugar) JSC - Dolna Mitropolia
CEZ Distribution Bulgaria JSC - Sofia
Cez Electro Bulgaria JSC - Sofia
DS Smith Bulgaria JSC - Pazardzhik
Elis GE SPLTD - Varna
Mini Bobov Dol SPJSC - Bobov dol
Siconco Building JSC - Sofia
Synthetica JSC - Sofia
Unicredit Bulbank JSC - Sofia
Vaptsarov JSC - Sofia
 
Forthcoming General Meetings



Financial news

In the period January - October 2017 Bulgarian exports to third countries increased by 15.9% in comparison with the corresponding period of the previous year and amounted to BGN14 762.5 Million. Main trade partners of Bulgaria were Turkey, the Russian Federation, China, Serbia, the Former Yugoslav Republic of Macedonia and the United States which accounted for 52.0% of the exports to non EU countries. In October 2017 Bulgarian exports to third countries grew by 22.6% compared to the corresponding month of the previous year and amounted to BGN1 719.5 Billion. This us according to data by the National Statistical Institute (NSI). In the period January - October 2017 in the exports of Bulgaria to third countries distributed according to the Standard International Trade Classification the largest growths compared to the same period of 2016 were recorded in the sections ‘Manufactured goods classified chiefly by material’ 2 (52.8%) and ‘Miscellaneous manufactured articles’ 1 (29.9%). Bulgarian imports from third countries in the period January - October 2017 increased by 24.4% in comparison with the corresponding period of the previous year and added up to BGN17 444.3 Million (at CIF prices).

Source: money.bg

The debt-to-GDP ratio is expected to come down to 23.7% at the end of the year, which will be 3.7 pp below the end-2016 level, Finance Minister Vladislav Goranov said. Goranov expects the debt-to-GDP ratio to continue going down until it reaches around 20% in 2020. The forecast is for 22.3% in 2018 and 21.3% in 2019. The costs for servicing the government debt is forecast at 1.9% of all expenditures in the consolidated fiscal programme for 2017, which makes a nominal of around BGN 792.9 million. It is expected to be 1.74% or BGN 684.3 million in 2018, 1.73% or BGN 705.7 million in 2019 and 1.7% or BGN 723.3 million in 2020. In any case, these costs will be below 1% of the GDP, said Goranov. He assured the MPs that the ratio of short- to long-term government debt will remain sustained until 2020 and will not affect adversely the risk profile of the debt.

Source: 3e News



Companies

Investments in the Burgas Industrial Area exceed BGN 50 million, with already 80% of the land occupied. This was announced by the Deputy Minister of Economy Alexander Manolev during a business forum in the seaside. The Industrial Zone in Burgas is managed by a joint venture between the municipality and the National Industrial Zone, which is under the Ministry of Economy. It covers an area of ​​238 decares on the beach. The proposed plots for development of production and services are from 2 to 30 decares. According to the statistics the Investment Promotion Act, 5 projects with a total value of nearly 140 million have been implemented or are in the last years in the zone. The jobs revealed are more than 400. Burgas region is among the leaders in the European funds. The value of the amounts paid to the beneficiaries under the Operational Programs in the area reached nearly BGN 900 million, or BGN 1434 per person. The business is also actively looking for opportunities to modernize its production capacities through the European grant, with over 24 million BGN under the Operational Program" Innovation and Competitiveness ".

Source: Monitor

A Bulgarian company signed a Memorandum of Understanding (MoU) with Iran to develop solar photovoltaic infrastructure in the Iranian central city of Jahrom. "The first investment agreement in the Jahrom Special Economic Zone has been signed with Solar & Benefit Corporation (Bulgarian renewable power developer) to build a photovoltaic power plant," said Alireza Sahraeian, the governor of Jahrom. The official did not specify the plant's capacity or the value of the investment, but said the deal is to meet the electricity demand of a population of 230,000 in Jahrom. Solar & Benefit will be compensated for 20 years at a price of 15.2 euro cents per kilowatt hour. The Bulgarian enterprise operates through its local company Solar & Benefit Persia. The Sofia-based company plans to develop power projects in Iran with a total output capacity of 400 megawatts in collaboration with Grass Group, a German solar energy EPC contractor.

Source: Novinite.com

The Polish owner of the Queens Juice, Grupa Maspex, is expanding its business in Bulgaria by acquiring the local company Aquarex V, which bottles the mineral water Velingrad. The deal is through the subsidiary Tymbark Bulgaria, which purchases 99.84% of Aquarex V against an undisclosed amount. The seller is Stolarski & Sons, owned by the chairman of the Bulgarian association of road transport associations (BASAT), Mirolyub Stolarski, whose family also owns the bus company Karat-S. The sale of Aquarex V is the next deal in the sector closed this year. In the beginning of 2017, the Belgian group Spadel paid EUR 120 million to the American investment fund Advent for the bottling company Devin in one of the significant purchases for the year. In July, Czech Karlovarské minerální vody (KMV) finalized the acquisition of Pepsi's bottling company in Bulgaria - Quadrant Beverages, the price of which was also unpublished. The new Polish owner of Aquarex V was one of the candidates for Devin. Obviously, after the competition was won by Spadel, Maspex has sought other acquisitions in the water sector in Bulgaria.

Source: Capital

EUR 355 million will come from Europe for the development of start-ups, small and medium-sized companies in Bulgaria. The total attracted resource, which includes additional private investments, could reach a billion and a half euros. For projects over EUR 15 million, it should be applied to the European Investment Bank. Small and medium start-ups can now be supported by the European Investment Advisory Center.

Source: Novinite.com

Bulgaria's Road Infrastructure Agency has started reconstruction works on a 22 km section of the road in the Petrohan mountain pass - a project estimated to cost BGN 14.7 million. A consortium led by local companies Geostroy and Patstroy-92 will carry out the works which should be completed in 15 months. The project includes upgrades of two bridges and 13 road junctions. The road in the Petrohan pass is the shortest route from Sofia to the Danube ports of Lom and Vidin in the north. The project is financed through the EU's Operational Programme Regions in Growth. The EU financing will cover 85% of the total cost.

Source: Capital

Fitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of Bulgarian lenders Societe Generale Expresbank and United Bulgarian Bank (UBB), as well leasing company Sogelease to 'A-' from 'BBB+' with stable outlooks. Fitch has also affirmed Allianz Bank Bulgaria's Long-Term IDR at 'BBB+' with a stable outlook. The upgrades of Societe Generale Expresbank, UBB and Sogelease reflect the fact that their Long-Term IDRs are no longer constrained by Bulgaria's Country Ceiling. Earlier this month, Fitch upgraded Bulgaria’s Country Ceiling to 'A-' from 'BBB+'. Fitch also upgraded Bulgaria's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'BBB' from 'BBB-'.

Source: investor.bg



       Bulgarian Industrial Association

 

 

       World

Europe

The European Commission welcomes the decision adopted by the Council formally establishing Permanent Structured Cooperation (PESCO) and the plans presented by 25 EU Member States to work together on a first set of 17 collaborative defence projects. Permanent Structured Cooperation (PESCO) is an instrument in the EU Treaty to enable willing Member States to pursue greater cooperation in defence and security. On 13 November, 23 Member States (Austria, Belgium, Bulgaria, Czech Republic, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Poland, Romania, Slovenia, Slovakia, Spain and Sweden) took a first step towards launching Permanent Structured Cooperation on defence by signing a joint notification and handing it over to High Representative Federica Mogherini. Since then, Ireland and Portugal have also joined, bringing the total number of participating countries to 25. Today, less than a month after the joint notification, the Council adopted a decision formally establishing PESCO.

Source: European Commission

America

President Donald Trump pushed for immigration restrictions following an attempted terror attack in one of New York City's busiest transportation hubs. "First and foremost, as I have been saying since I first announced my candidacy for President, America must fix its lax immigration system, which allows far too many dangerous, inadequately vetted people to access our country," Trump said in a statement. On Monday morning, 27-year-old Akayed Ullah detonated a pipe bomb strapped to his body in a walkway connecting subway lines near the Port Authority Bus Terminal and Times Square. Ullah, an immigrant from Bangladesh, suffered burns, and at least three other people had minor injuries. In his statement, Trump called on Congress to end so-called chain migration by extended family members. Earlier Monday, White House press secretary Sarah Sanders claimed the president's proposal to end the practice would have prevented the attempted attack. It is unclear if it would have.

Source: CNBC

Asia

Apple Inc has asked India to defer a planned increase in import taxes on mobile phone parts so it can expand its iPhone manufacturing in the country, but the government is unlikely to accede, people familiar with the matter said. The U.S. technology giant has been in talks with Indian officials for months, seeking “pre-requisites” - government tax breaks and incentives - for expanding its operations in one of the world’s fastest-growing smartphone markets. During those talks, Apple has conveyed it wants India to defer an existing policy that plans to levy taxes on more imported mobile components in line with Prime Minister Narendra Modi’s “Make in India” drive to boost domestic manufacturing. While India’s government has been keen to get Apple to manufacture in India as a showpiece investment, it has told the U.S. firm there would be no policy exemptions, so there will be no tax breaks on parts imports, the people said. Apple has expressed willingness to increase local value addition over time, but has stuck to its demand for immediate import tax relief to expand its iPhone manufacturing, the person added.

Source: Reuters

 
Indexes of Stock Exchanges
11.12.2017
Dow Jones Industrial
24 386.03 (56.87)
Nasdaq Composite
6 875.08 (35.00)
Commodity exchanges
11.12.2017
  Commodity Price  
Light crude ($US/bbl.)58.44
Heating oil ($US/gal.)1.9700
Natural gas ($US/mmbtu)0.0000
Unleaded gas ($US/gal.)1.7500
Gold ($US/Troy Oz.)1 246.60
Silver ($US/Troy Oz.)15.78
Platinum ($US/Troy Oz.)888.60
Hogs (cents/lb.)67.02
Live cattle (cents/lb.)117.72

       Discover Bulgaria

Nevena Kokanova

The first lady of the Bulgarian cinema was born on December 12, 1938 in the town of Dupnitsa, south-western Bulgaria. Nevena Kokanova made her start in arts at the age of 18 at the Yambol Theatre without having any special education, and debuted in the cinema with the movie Godini za lyubov (Years for Love). Thus, one of the most impressive paths in the history of Bulgarian theatre and movies began. In the 1960s and 1970s Kokanova became a symbol of the national cinema, embodying personality, charming temper and unique womanliness. Kokanova played more than 50 parts, one of the most remembering being Irina in Tyutyun (Tobacco, 1962) and grievous and passionate Liza in Kradetsat na praskovi (The Peach Thief, 1964). The audience and the critics highly praised her acting as Ana in Karambol (Crack-Up, 1966), Gerda in Dah na bademi (Taste of Almonds, 1967), Neda in Otklonenie (Sidetracked, 1967), which Blaga Dimitrova wrote especially for her, and many others. In 1969 she featured in the movie of the famous Italian director Liliana Cavani – Galileo. Nevena Kokanova won prizes at the Varna festival, and the Golden Camera award of the Union of the Bulgarian Moviemakers. Nevena Kokanova passed away on June 3, 2000.


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