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Business Industry Capital
ISSN 1311-364X
Friday, 17 September 2021, Issue 5533
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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       Bulgaria
 
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BNB Exchange Rates
(17.09.2021)
  EUR   1.95583  
GBP   2.30030
USD   1.66270
CHF   1.79665
EUR/USD   1.1763*
ECB exchange rate
Basic Interest Rate
  as of 01.09   0 %  


Bulgarian Stock Exchange - 16.09.2021
  Total turnover (BGN): 3 964 621.28  
Traded companies: 44
Premium 54 151.16
Standard 3 724 777.80
REIT 135 120.97
Structured 33 751.48
Bonds 11 325.38
BEAM - Shares: 5 494.50
Biggest change
Expat Hungary BUX UCITS ETF FOND - Sofia 7.02 %
Expat Slovakia SAX UCITS ETF FOND - Sofia -4.61 %
BaSE - Shares: 1 047.99

Wholesale of pharmaceutical goods
BEIS rating
Top 10 companies by
Total income
for 2019
(thous. BGN)
  
  1   Sopharma Trading JSC - Sofia   794 574  
  2   Phoenix Pharma SPLTD - Sofia   784 068  
  3   Sting JSC - Sofia   592 693  
  4   Pharmnet SPJSC - Varna   578 463  
  5   Rompharm Company LTD - Sofia   201 911  
  6   Actavis SPJSC - Sofia   138 500  
  7   Glaxosmithklain SPLTD - Sofia   109 552  
  8   Medex LTD - Sofia   106 360  
  9   Sanofi Bulgaria SPLTD - Sofia   100 445  
  10   Commercial League - Global Pharma Centre JSC - Sofia   90 710  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  ARZ - Capitan Petko Voivoda JSC - Kurdzhali
Bourgas Free Zone JSC - Bourgas
Brezentovi Izdelia JSC - Tzar Samuil
Captain Petko Voivoda JSC - Kurdzhali
Danube Dredging Fleet JSC - Rousse
DDF Invest JSC - Rousse
Dunav JSC - Silistra
Euroins Insurance Group JSC - Sofia
Geology, Design and Еxploration JSC - Varna
Medical Center Zdrave JSC - Pazardzhik
Nash Dom Europe Holding JSC - Sofia
Nash Dom JSC - Sofia
Pamporovo JSC - Chepelare
Pro Lego JSC - Sofia
Providenti JSC - Varna
Samokov - Borovets 21 JSC - Samokov
Samokov Borovets JSC - Samokov
Shumen-Tabak JSC - Shoumen
Sofia Trade Chain JSC - Sofia
Spectar JSC - Sofia
Speedy JSC - Sofia
Svila PLC JSC - Haskovo
 
Forthcoming General Meetings



Financial news

Finally, the statistics confirm the expectations that within the pandemic year 2020 there will be a decrease in both exports and imports in Bulgaria. Total goods for BGN 114.90 billion traded with EU and non-EU countries. And trade decreased by 7.68 percent. Between January and December, the companies did not export goods worth BGN 54.78 billion, which is 6.3% less than in 2019. Compared to the monthly data for the previous year with the data for the respective month of 2019, the largest growth was observed in the previous year in December (+ 6.9%), and the largest drop was registered in May (-19, 2%). Imported goods (at CIF prices) last year amounted to BGN 60.13 billion, a decrease of 8.9% on an annual basis. 

Source: Banker

Bulgaria ranks second in the European Union (EU) in terms of growth in total labor costs per hour in the second quarter of 2021, according to data from the European statistical office Eurostat. Hourly total labor costs in Bulgaria increased by 6.7% for the period April-June. Cyprus ranks first in this indicator with a 14.3% increase. Romania shares second place with Bulgaria with 6.7%, followed by Sweden with 6.4%. On average for the EU, the increase in hourly labor costs reaches 0.6%, while in the euro area is a decrease of 0.1%. Of the two components in hourly labor costs, wage costs in Bulgaria increased by 7.2% in the second quarter, and other costs (insurance, leave, benefits, sick leave, etc.) - by 4.3%. The country is third in the EU in terms of growth in hourly wage costs. First is Cyprus with 13.8%, in second place is Poland with 7.9%. On average for the EU, the increase in hourly wage costs was 0.2% for the period, while in the euro area there was a decrease of 0.4%.

Source: investor.bg

 

Company Organization and Management
and Optimization of Production Processes

Upcoming qualification REFA-course in Sofia:
Module 1: 'Work System and Process Design'
(01.11 - 05.11.2021 and 08.11 - 12.11.2021)
Module 2: 'Production Data Management'
(22.11 - 26.11.2021 and 29.11 - 03.12.2021)
The indicated periods will take into account any further restrictions for conducting on-site trainings.
Application for the course

 
http://refa.bia-bg.com/, tel +359 2 980 10 90, Sofia
Companies

The new factory, which the manufacturer of electronic medical equipment BTL Industries is building in Plovdiv, will include various energy solutions. In addition to solar panels on the roof of the production area, which will cover a large part of its own electricity consumption, the company will also use the installed water tanks for fires as heat accumulators. The project also envisages fully autonomous and automated outdoor lighting, as well as special systems for fresh air supply, through which the efficiency of heat exchange is achieved. The construction is expected to be completed in early 2023, and the investment is about BGN 20 million.

Source: Capital

The financial condition of the state enterprise Irrigation Systems is critical - the amount of the company's liabilities is twice as large as the receivables, serious water losses are allowed due to lack of modernization of the measuring devices. This was stated by the audit of the National Audit Office for the period from January 2018 to December 31, 2019, published on Wednesday. For 2018 the money due is BGN 38.4 million, and for 2019 - BGN 37.8 million. The liabilities are mainly to suppliers, related parties under the general control of the Ministry of Agriculture, but there is also a long-term bank loan and overdraft, unpaid fees for water use to basin directorates, etc. The receivables are BGN 18.9 million for 2018 and nearly BGN 20.8 million for 2019. The lack of more modern measuring devices leads to serious water losses, and hence to a deterioration of the financial condition of Irrigation systems, the report said.

Source: 24 chasa

Port Bimas has stated to the Commission for Protection of Competition its intention to perform a concentration through concession rights for construction and subsequent operation of the Port Terminal with Zimovnik-Ruse, part of the Port of Public Transport Ruse. At the heart of this project is the existing undeveloped port of the former Bimas chemical plant. The subsidiary of Bulgarian River Shipping has concluded a concession agreement with the Ministry of Transport, Information Technologies and Communications for awarding a concession for the construction of this site. The concession is for 35 years and the facilities must be ready within five years. The commercial activities of these companies will be the provision of port services within the meaning of the Law on Maritime Areas, Inland Waterways and Ports of the Republic of Bulgaria. Port Bimas operates as a port operator, provides port services, freight forwarding, merchant shipping by river, sea and related inland waterways and other similar activities.

Source: Banker

The Municipal Council of Bobov Dol has given permission this week for the route of the project of TPP Bobov Dol to connect to the national gas infrastructure to pass through municipal terrains. "At this stage, it is only a matter of passing natural gas to the burners, thanks to which we will stop using fuel oil when melting each of our boilers. The next stage will be the introduction of natural gas as an additional fuel for energy production. The transition to ecological energy sources is the only way to preserve the jobs of the thousands of locals, thanks to the operation of TPP Bobov Dol. The implementation of investments for the change of the main fuel will contribute to the improvement of the air quality in the area of ​​the plant. TPP Bobov Dol has requested prior consent from the municipal council for the development of a detailed development plan and a plot plan for the construction of a gas connection and a gas distribution station. The company has also requested the establishment of a real right of construction and easement, planning to build the necessary facilities at their expense. The plant wants to create an automatic gas control station on a plot of land with 3135 square meters.

Source: 24 chasa



       Bulgarian Industrial Association



 

       World

Europe

The European Commission and the High Representative adopted a joint communication on an EU strategy for cooperation in the Indo-Pacific region. The joint communication contains specific actions for strengthening the strategic interaction with the region, as assigned by the Council on April 19, 2021, the EC announced. The EU and the Indo-Pacific region are closely linked. They have many common interests and strong links in various fields, from trade and investment to research and innovation, as well as sustainable development, climate change, biodiversity conservation and security. The EU is stepping up its strategic engagement with the Indo-Pacific region. Its growing economic, demographic and political weight makes it a key player in shaping the rules of international order and tackling global challenges. The EU aims to contribute to the stability, security, prosperity and sustainable development of the region in accordance with the principles of democracy, the rule of law, human rights and international law.

Source: 24 chasa

America

The US multinational corporation PepsiCo, a manufacturer and distributor of soft drinks and food products, will reduce the use of pure plastic and expand its SodaStream carbonated water business. Its goal is to reach more markets amid growing calls to combat climate change, Reuters reports. As part of a new initiative called ‘рep+’ the company aims to halve the use of new plastics in all its brands by 2030 and to use 50% recycled content in all its plastic packaging. The company also plans to focus on offering healthier foods by introducing plant-based protein snacks in partnership with Beyond Meat Inc. Pepsi's actions come at a time when, along with its rival Coca-Cola, they have become targets for green activists, given the large amounts of disposable plastic they use. The two companies have been on the NGO Free Break From Plastic's list of ‘Biggest Global Pollutants’ for the past three years.

Source: economic.bg

Asia

Ford Motor Co. dealers in India face potential legal action from customers after the U.S. auto giant decided to shut its factories in the country. Dealers will likely face “legal complications” given that Indian consumer law makes them liable after a manufacturer exits, Vinkesh Gulati, president of the Federation of Automobile Dealers Associations, said. “We expect Ford to give some compensation to dealers and plan something in future so that dealers aren’t in a legal strangle against customers in consumer court cases for their service responsibility,” Gulati said. Read more: Ford Will Cease Making Cars in India, Take $2 Billion Charge Dealers invested about 20 billion rupees ($272 million) building Ford dealerships in India, which employ about 40,000 people, he said. Separately, Gulati said the auto industry is losing 20% to 30% of potential sales each month because the global semiconductor shortage has led to long waiting periods for cars. Mahindra & Mahindra Ltd.’s Thar SUV has a waiting period of 12 months, while there’s a six-month wait for Hyundai Motor India Ltd.’s Creta SUV.

Source: Bloomberg

 
Indexes of Stock Exchanges
16.09.2021
Dow Jones Industrial
34 751.32 (-63.07)
Nasdaq Composite
15 181.90 (20.40)
Commodity exchanges
16.09.2021
  Commodity Price  
Light crude ($US/bbl.)72.42
Heating oil ($US/gal.)2.2100
Natural gas ($US/mmbtu)5.3200
Unleaded gas ($US/gal.)2.1800
Gold ($US/Troy Oz.)1 759.30
Silver ($US/Troy Oz.)22.96
Platinum ($US/Troy Oz.)933.30
Hogs (cents/lb.)74.45
Live cattle (cents/lb.)128.58

       Discover Bulgaria

St. Sophia and her daughters Faith, Hope and Love

On September 17 the church commemorates the feast of St. Sophia and her three daughters Faith, Hope and Love. The legend says the St. Sophia was a widow with three daughters living in Rome in the time of Emperor Hadrian. Faith was twelve, Hope was ten, and Love was nine. St. Sophia raised them in the love of the Lord Jesus Christ. St Sophia and her daughters did not hide their faith in Christ, but openly confessed it before everyone. An official named Antiochus denounced them to the emperor Hadrian (117-138), who ordered that they be brought to Rome. When the holy virgins and their mother came before the emperor, everyone present was amazed at their composure. They looked as though they had been brought to some happy festival, rather than to torture. Summoning each of the sisters in turn, Hadrian urged them to offer sacrifice to the goddess Artemis. The young girls remained unyielding. Then the emperor ordered them to be tortured. St. Sophia was forced to watch the suffering of her daughters. She displayed adamant courage, and urged her daughters to endure their torments. In order to intensify St. Sophia's inner suffering, the emperor permitted her to take the bodies of her daughters. She drove beyond the city limits and reverently buried them on a high hill. St. Sophia sat there by the graves of her daughters for three days, and finally she gave up her soul to the Lord. Even though she did not suffer for Christ in the flesh, she was not deprived of a martyr's crown. Instead, she suffered in her heart. Believers buried her body there beside her daughters. The relics of the holy martyrs have rested at Alsace, France, since the year 777.


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Bulgarian Issue: 29948, English Issue: 2876

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