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Business Industry Capital
ISSN 1311-364X
Friday, 16 November 2018, Issue 4838
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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 Bulgarian issue

BNB Exchange Rates
  EUR   1.95583  
GBP   2.21323
USD   1.73006
CHF   1.72092
EUR/USD   1.1305*
ECB exchange rate
Basic Interest Rate
  as of 01.11   0 %  

Bulgarian Stock Exchange - 15.11.2018
  Total turnover (BGN): 342 526.20  
Traded companies: 33
Premium 107 595.64
Standard 88 956.56
REIT 141 914.03
Structured 1 048.00
Bonds 3 011.97
Biggest change
Oil and Gas Exploration and Production JSC - Sofia -11.59 %
Alcomet JSC - Shoumen 9.84 %
BaSE - Shares: 74 203.95

Processing and preserving of fruit and vegetables n.e.c.
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  1   Agri Bulgaria SPLTD - Radinovo   45 446  
  2   Kuminiano Fruit LTD - Katunitsa   44 073  
  3   Pallirria Bulgaria SPJSC - Nova Zagora   40 015  
  4   Olinesa Premium LTD - Kostinbrod   35 464  
  5   Deroni LTD - Haskovo   30 223  
  6   Victoria Nuts SPLTD - Sofia   27 657  
  7   Fructo Sliven JSC - Varna   25 154  
  8   Dekadans-Dimitar Shishkov ST - Byala   20 527  
  9   Europack SPLTD - Sofia   20 382  
  10   Djili-Soy - Dzhihangir Ibryam ST - Dulovo   17 856  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Balkanpharma Troyan JSC - Troyan
Belovo Paper Mill JSC - Belovo
Bulgaria 29 JSC - Sofia
Business and Trade Center-Plovdiv JSC - Plovdiv
Carlsberg Bulgaria JSC - Sofia
Dunav press JSC - Rousse
Idis JSC - Varna
Ilina 98 JSC - Sofia
Lopushna Energy JSC - Sofia
SET Company JSC - Sofia
Forthcoming General Meetings

Financial news

Bulgaria’s unemployment rate dropped to 5.0% in the third quarter of 2018 from 5.8% in the same period last year, the National Statistical Institute (NSI) said. Youth unemployment, covering persons in the age bracket 15-29 years, dropped to 8.2% in the period under review from 9.9% in the third quarter of last year, NSI said in a quarterly labour force survey. Long-term unemployment rate - covering people who have been without a job for more than a year - was 3.1% in the third quarter, or 105,200 people. The employment rate among people aged 15 to 64 rose by 0.3 percentage points year-on-year to 68.8% in the review period. The share of economically active people aged 15-64 fell by 0.3 pp to 72.5% in the third quarter. There were 1.24 million economically inactive persons aged 15-64 in the third quarter, or 27.5% of the population in this age group. Of them 78,800, or 6.3%, were discouraged persons.

Source: SeeNews

Over BGN 2,92 billion are in the State Fund for Guaranteeing the Stability of the State Pension System (the so-called Silver Fund) at the end of October, according to data from the Ministry of Finance. About BGN 2,904 billion of this amount is formed into annual deposits with the Bulgarian National Bank (BNB) by decisions of the Fund's Board of Directors. The transferred funds in October to the Guarantee Fund from the Pensions Fund amounted to BGN 6.79 million. The transfer was BGN 6.11 million a month earlier, and for the third quarter - BGN 17, 42 million. For the entire 2017, the transfer is close to BGN 128 million. As in the last few years and at the end of June 2018, the pension money has zero profitability.



The subsidiary of the Belgian construction leader Cordeel - Cordeel Bulgaria is working on four industrial projects in Bulgaria for a total value of BGN 26.8 million. They must be ready by the middle of next year, with a total area of 28 200 square meters. In the past year, the company ranks first in the country with the most buildings put into operation. Their total area is 101,000 square meters. The largest project is the expansion of the warehouse and production base of the German automotive company VITTE Automotive Bulgaria, located in Rousse. Its construction started in September and must be completed in 9 months. Two of the company's projects are located in Shumen. The first one is a new warehouse of the Bulgarian manufacturer of heating appliances and boilers TESU, which will have an area of 4500 square meters. It must be ready by the end of the first half of 2019. The other base in Shumen is that of the company Lavena, which produces cosmetic products. The project is for expanding the production and warehouse facilities of the company. The fourth project of Cordeel Bulgaria is for the engineering company Melexis Bulgaria. It includes the construction of a three-storey building and the expansion of the production area, the warehouse and the office part. The main work on it should be ready by the beginning of next year. Cordeel Bulgaria is part of the Belgian group Cordeel, which specializes in industrial construction, as well as in the construction of offices, buildings for public use and others.


Bulgarian state-owned arms and ammunition manufacturer VMZ Sopot will start production of unmanned aircraft under an agreement signed with Israel's Aeronautics Group. The agreement for cooperation and technology transfer will allow VMZ Sopot to launch production of drones under its own brand, as well as ensure their maintenance, the ministry said in a statement following a meeting of economy minister Emil Karanikolov with representatives of Aeronautics Group. The agreement is an important step in VMZ Sopot's strategy to enter the sector of new technologies, Atanas Bogdanov, chairman of the company's board of directors. Aeronautics Group is a global leader in designing and manufacturing of unmanned aircraft. It has over 70 customers worldwide.


The European Commission is investing over EUR 293 million from the Cohesion Fund in a more modern, faster and safer railway connection between the cities of Plovdiv (South Central Bulgaria) and Bourgas (on the Black Sea). The project will reduce travel time for both passenger and freight transport by 40 minutes, with trains reaching speeds between 130 and 160 km/h along the 293km stretch. This will make train rides competitive with road transport, promoting a cleaner mobility in the country. At the same time, a number of measures will improve safety on the line, thanks to new signalling and telecommunications systems and the replacement of the existing level crossings by 29 overpasses, a pedestrian bridge and an underpass. The investment is contributing to the completion of the high-speed railway line on the Orient/East Med corridor of the Trans-European Transport Network, connecting Central and South-East Europe.

Source: BTA

Bulgaria's Road Infrastructure Agency has signed a BGN 137.5 million contract for construction of a 14.5-kilometer road section with a tie-up between the Bulgarian and Polish units of Austria's Strabag, and Bitumina GmbH – Bulgaria, a subsidiary of Austria's Bitumina. The contract concerns a road section between Kalotina checkpoint, on the border with Serbia, to Dragoman road junction, which is part of the road to Sofia. Works must be completed within 852 days. The agency is also due to sign a contract for the construction of a further 17 km of the road, from Dragoman road junction to Slivnitsa, with local GBS Infrastructurno Stroitelstvo.

Source: Capital

Representatives of more than 200 companies from China were in Bulgaria this year, looking at opportunities for investment in the country and partnerships with Bulgarian companies. This was stated by the Deputy Minister of Economy Alexander Manolev at the opening of the International Conference of Young Leaders, which is part of "16 + 1". According to the Deputy Minister for the first six months of 2018 our country has exported goods worth more than USD 366 million for the second largest economy in the world. This is an increase of 10% on an annual basis. At the same time, bilateral trade between Bulgaria and China for the past year is over USD 2 billion.


       Bulgarian Industrial Association




The United Kingdom's Brexit Secretary, Dominic Raab, and the Secretary of State for Work and Pensions, Esther McVey, have resigned along with two junior ministers over the draft European Union (EU) withdrawal agreement. The move comes as a huge blow to British Prime Minister Theresa May. Raab was appointed the Brexit secretary only in July after David Davis resigned in protest against "a business-friendly" deal to leave the EU. The two junior ministers who also resigned on Thursday are Suella Braverman and Shailesh Vara. "I regret to say that, following the Cabinet meeting yesterday on the Brexit deal, I must resign," Raab said. May's plan threatened the integrity of the UK, he said. "I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election. This is, at its heart, a matter of public trust," he said in his resignation letter, published on his Twitter account.

Source: Associated Press


Sales at U.S. retailers surged in October after the first back-to-back declines since 2015, though most of the money was spent on gas and new cars and trucks. Retail sales leaped 0.8% last month, the government said Thursday. Economists polled by MarketWatch had predicted a 0.6% increase. The increase follows small declines in September and August. The government initially said sales rose slightly in both of those months, but it revised the figures lower in its latest update. That could also result in the government trimming the initially estimated 3.5% growth in gross domestic product in the third quarter. Sales jumped 3.5% at gas stations, mostly reflecting higher prices at the pump. More spending on fuel is not a good thing for households, but a recent plunge in oil prices signals that price relief is on the way. Sales of new cars and trucks increased 1.1%, making auto dealers a big winner. When Americans have to spend more money on gas or they buy big-ticket items such as cars, they have less cash to spend on other items. Overall retail sales rose a much more modest 0.3% if gas and autos are stripped out.

Source: Market Watch


The Chinese government has presented an offer to the United States to try to push forward stalled trade talks before the leaders of the two economic superpowers meet at the end of this month, according to two people briefed on the discussions. The opening bid falls short of many of the core demands the White House has repeatedly detailed as must-haves in trade talks with Beijing, including addressing technology transfers and intellectual property theft, according to one of the people briefed. Instead, the proposal has been described as a rehash of previous commitments Chinese leaders have publicly announced, like selectively lifting tariffs. "What they are offering is not new," this person said. "I think the two sides remain at an impasse. The channels are now open again, but there's a lot of work to get to — whether it's a modest de-escalation or ceasefire." Beijing's proposal comes after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He spoke by phone on Friday to jump start trade discussions ahead of an expected meeting between the two countries' leaders.

Source: CNN

Indexes of Stock Exchanges
Dow Jones Industrial
25 289.27 (208.77)
Nasdaq Composite
7 259.03 (122.64)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)57.01
Heating oil ($US/gal.)2.0900
Natural gas ($US/mmbtu)4.0900
Unleaded gas ($US/gal.)1.5700
Gold ($US/Troy Oz.)1 215.50
Silver ($US/Troy Oz.)14.28
Platinum ($US/Troy Oz.)846.40
Hogs (cents/lb.)63.75
Live cattle (cents/lb.)119.10

       Discover Bulgaria

Eugene Bossilkov

Bishop Eugene Levidzhov Bossilkov a Bulgarian Catholic cleric Passionist monk, blissful. Born with the secular name Vincent on November 16, 1900 in Belene, Bulgaria. In 1911 he entered the Catholic seminary of the Fathers - Passionists in the village Oresh. In 1913, he moved to the seminary in Rousse, then continued his education at the Passionist Seminary in Belgium and the Netherlands. Since 1921 he began to study philosophy and theology. He graduated from his studies in 1924. He was ordained priest on July 26, 1926 in the Rousse Cathedral. He was sent by the Trustees in Italy - in Rome to improve in Eastern ecclesiastical sciences. In 1934 he was appointed parish priest in the village Bardarski Geran, populated by immigrants from Banat. On October 7, 1947 Eugene was ordained a bishop in Rousse Cathedral. In 1952, he was arrested and charged along with other clerics for participating in clandestine Catholic organization and espionage. The death sentence was executed in Sofia Central Prison on the night of November 11, 1952 and it is not known exactly where they buried the executed one. Eugene Bossilkov was procliamed blissful by the Catholic Church, by Pope John Paul II on March 15, 1998 in the Roman basilica "St. Peter. "(Photo:

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