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Business Industry Capital
ISSN 1311-364X
Wednesday, 19 September 2018, Issue 4797
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(19.09.2018)
  EUR   1.95583  
GBP   2.19848
USD   1.67208
CHF   1.73929
EUR/USD   1.1697*
ECB exchange rate
Basic Interest Rate
  as of 01.09   0 %  


Bulgarian Stock Exchange - 18.09.2018
  Total turnover (BGN): 648 916.96  
Traded companies: 34
Premium 117 306.84
Standard 378 288.76
REIT 153 046.08
Structured 275.28
Biggest change
Severcoop Gamza Holding JSC - Sofia 10.00 %
Neochim JSC - Dimitrovgrad -7.73 %
BaSE - Shares: 2 540.78

Restaurants
BEIS rating
Top 10 companies by
Net sales
for 2016
(thous. BGN)
  
  1   Aladin Foods LTD - Sofia   33 016  
  2   LFS SPLTD - Sofia   17 578  
  3   Happy Paradise SPLTD - Varna   8 743  
  4   Effect 3 LTD - Sofia   8 671  
  5   Hand SPLTD - Varna   8 075  
  6   Happy Hand SPLTD - Varna   7 983  
  7   AmRest SPLTD - Sofia   7 981  
  8   Happy Delight SPLTD - Varna   7 629  
  9   Master Pick SPJSC - Sofia   7 156  
  10   Deli Cafe LTD - Sofia   3 033  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Di trans JSC - Sofia
Impulse 98 JSC - Gabrovo
Korado Bulgaria JSC - Strazhitza
 
Forthcoming General Meetings



Financial news

"As of July 1, 2019, pensions in Bulgaria will rise by 5.7%," Social Minister Bisser Petkov said, adding that the pension ceiling would also be increased to 40% of the average income for the country, i.e. BGN 1040. On the occasion of the forthcoming heavy winter with higher bills, Petkov commented that wages in Bulgaria are among the fastest growing in the whole of Europe, but because the base is low this increase is not felt enough by the people. Concerning the second pillar of the pension insurance, for which it became clear that the average amount of the bills is about BGN 3000, Petkov commented that it is not surprising. "Much of insured persons are hollow lots because they are without resources", said Petkov. In his words, various options are available to pay for accumulations, including one-time withdrawals in case of too small sums.

Source: Standart

‘For the new programming period, funds for Bulgaria can be increased by 8%, which means BGN 2 billion more. I think it is indicative that we have earned our reputation as a well-run country. There are countries where funding is cut by about 25% and for Bulgaria it is increased,’ said MEP Andrey Novakov, who is a negotiator on the basic regulation of the European structural and investment funds in the period 2021-2027. "In fact, Bulgaria is one of the few countries that will have the opportunity to receive more funds in the new programming period alongside Romania, Cyprus, Italy and Finland," explained Novakov, adding that the funding foreseen for Bulgaria is about EUR 180 per capita. Novakov said that universities and companies engaged in innovation will have the opportunity in the new programming period for better funding and noted that the EU funds are expected to become more accessible to ease the application proceduresand the project implementation checks should be risk-based - less risky beneficiaries would be checked less and the more risky – more inspections.

Source: Banker



Companies

The Working Group of the Energy and Water Regulatory Commission proposes to increase its natural gas price by 13.89% from 1 October. Unlike before, the experts' analyzes have confirmed Bulgargaz's request for price increase, which was introduced on September 10th. Thus, at the forthcoming regulator meeting on 25 September, there are no disputes with the gas supplier, and for consumers this will be the biggest leap in the price of gas since April 1, 2017. This increase will inevitably affect the prices of heat and hot water. For the fourth quarter of the year, for 1000 cubic meters of natural gas, the price will be BGN 456.65, but not including the tariffs for access, transportation, excise and VAT. This will be the fourth consecutive increase in the price of natural gas since the beginning of the year when 1000 cubic meters cost BGN 342.22. However, it will not be the last one since, when determining the price, the KEVR fully applies the existing methodology described in the current contract between Bulgargaz and Gazprom Export. The formula takes into account the fluctuations in the price of oil and the alternative to natural gas fuels in world markets for the past 9 months, as well as changes in the US dollar exchange rate.

Source: Capital

Chinese manufacturer of electric vehicles Cenntro Automotive Corporation and its partner, Luxembourg-based SEVIC eMobility, plan to hire 250 to 300 employees at an electric utility vehicles factory they are developing in Bulgaria, a SEVIC official said. Cenntro and SEVIC eMobility intend to invest EUR 10 million in the next three years and produce in Bulgaria 60% of the parts for the small electric utility vehicle they will assemble at the factory located in the Trakia Economic Zone, near the city of Plovdiv, Emil Yankov, business development director of Sevic Bulgaria, said. In this way, the electric utility vehicle will have a “Made in Bulgaria” or “Made in EU” label and the manufacturer will receive the corresponding incentives, Yankov added. Peter Wang, CEO of Cenntro Automotive Corporation, announced in July that the two partners plan to make the factory a regional centre not just for the assembly of electric utility vehicles, but also for production of parts for them and their maintenance.

Source: SeeNews

Bulgaria’s Vivacom has entered into an agreement with Stream Television Company to deliver its international feed for pay-TV platforms across Europe and the CIS. As a result, Vivacom, the largest telco in Bulgaria operating one of Europe’s few Tier 3 certified teleports in Europe, will distribute the international version of the hunting and fishing channel Rybalka I Okhota. Commenting on the development, Dmitry Sokolov, Stream Television Company CTO, said: “With Vivacom, we have now found a partner to help us deliver the international version of the popular TV channel in the best way, increasing the footprint, reliability, and providing outstanding service”. Vladimir Rangelov, head of broadcasting in Vivacom, added: Vivacom’s MCPC platform on Eutelsat 36E, provides unique wide coverage over the whole of Europe, Middle East and part of Asia, allowing content providers to reliably distribute their channels across large number of head ends in an efficient and cost-effective way”. Stream Television Company is based in Russia and owns 17 channels, including Rybalka I Okhota.

Source: Novinite.com

Greece's National Centre of Audiovisual Media and Communication (EKOME) and Bulgaria's Nu Image corporate group have announced the establishment of a Thessaloniki-based production service provider. Nu Image corporate group, based in Sofia, includes Millennium Films, Nu Boyana Film Studios and Worldwide FX. The agreement was announced at the Thessaloniki International Fair, by the president and chief executive of EKOME SA, Panos Kouanis and Producer and CEO of Nu Boyana Film Studios, Yariv Lerner. They announced their co-operation and presented the main goals of the partnership. The immediate objective of the production service provider is to offer production service to the Nu Image films, which will be supported by EKOME and the provisions of the investment incentive Law (Greek Cash Rebate). Besides the creation of the Production Service Provider, EKOME and Nu Boyana also announced the launch of a new internship programme which will give participants the opportunity to train in film production and post-production at Nu Boyana Film Studios.

Source: Sofia Globe

Financial Supervision Commission has removed Lev Ins Broker from the register of insurance brokers over systemic failure to find the company's representatives at its registered address. Lev Ins Broker has not presented a valid professional liability insurance contract, and has also failed to pay the financial supervision fees for 2018 to the regulator, the FSC said. The Commission data revealed that no compulsory professional liability insurance has been presented. The last insurance in the electronic register of the department is from September 08, 2007. It is unclear why the watchdog has not sought Lev Ins's responsibility since 2007. The company is also on the list of debtors of the Commission because it has not yet paid the due fee for general financial supervision for the year - BGN 5 thousand together with the interest. The FSC also said it has removed local company Bulgarian Broker from the register of insurance brokers but did not disclose the reasons for that decision.

Source: econ.bg



       Bulgarian Industrial Association


 

       World

Europe

The European Commission published its ideas for reforming the World Trade Organization to counter market distortions, such as in China, and to discourage the United States from pulling out of the body. A day after U.S. President Donald Trump escalated his trade war with China by imposing 10 percent tariffs on $200 billion (152.35 billion pounds)of Chinese imports, the European Union unveiled how it believes market-distorting subsidies should be tackled. Trump said last month that he could withdraw from the WTO, potentially undermining one of the foundations of the modern global economy which the United States was instrumental in creating. “The world has changed, the WTO has not. It’s high time to act to make the system able to address challenges of today’s global economy and work for everyone again. And the EU must take a lead role in that,” EU trade chief Cecilia Malmstrom said in a statement. The Commission said it wanted to update global trade rules, strengthen the power of the WTO to monitor trade and find a way of overcoming the current deadlock of the WTO dispute settlement system.

Source: Reuters

America

North Dakota’s oil production surged to a new record in July, putting the mid-western state on par with OPEC member Venezuela. Home to the Bakken shale play, North Dakota pumped 1.27 million barrels a day in July, according to state figures released Friday. That’s roughly the same output as Venezuela during the month. The South American nation, whose oil industry has collapsed amid a prolonged financial crisis, saw production fall further in August to 1.24 million barrels a day -- about half the level seen in early 2016, according to data from OPEC secondary sources. Soaring output from shale formations, including the Bakken, helped the U.S. overtake Russia and Saudi Arabia to likely become the world’s biggest oil producer earlier this year, according to preliminary estimates from the Energy Information Administration. At the same time, Venezuela’s output is expected to tumble even lower, to 1 million barrels a day by the end of the year, according to the International Energy Agency.

Source: Bloomberg

Asia

Japan’s average land prices rose for the first time in 27 years in the year to July 1 as an influx of foreign tourists boosted demand for hotel properties and shops, a government survey showed on Tuesday. Commercial land prices rose for a second straight year while the pace of decline in residential land prices slowed for a ninth consecutive year, the land ministry’s annual survey found. Land prices are a key indicator to gauge how much Japan asset prices have recovered after decades of deflation. “Land prices are recovering steadily and gradually,” a ministry official said. He said that recovery in wages and employment as well as low interest rates aided the recovery. The survey found that nationwide average land prices grew 0.1 percent in the year to July 1, the first increase since 1991, when a real estate bubble burst. Commercial land prices rose 1.1 percent, after a 0.5 percent increase in the previous year, led by a tourism boom and redevelopment of urban areas. Strong corporate earnings increased demand for offices, the survey found. Residential land prices slipped 0.3 percent, it showed, compared with the previous year’s 0.6 percent decline.

Source: Reuters

 
Indexes of Stock Exchanges
18.09.2018
Dow Jones Industrial
26 246.96 (184.84)
Nasdaq Composite
7 956.11 (60.32)
Commodity exchanges
18.09.2018
  Commodity Price  
Light crude ($US/bbl.)69.86
Heating oil ($US/gal.)2.2300
Natural gas ($US/mmbtu)2.9300
Unleaded gas ($US/gal.)2.0100
Gold ($US/Troy Oz.)1 206.80
Silver ($US/Troy Oz.)14.24
Platinum ($US/Troy Oz.)818.70
Hogs (cents/lb.)57.98
Live cattle (cents/lb.)117.98

       Discover Bulgaria

The Maltepe Mound

The Maltepe mound is located 17 km northeast of Plovdiv, next to Manole. It was first recorded and described by brother Shkorpil. Its diameter is 140 m and the height is 26 m, and about 80 000 cubic meters of earth are used for its rise. The archeological research of the mound is conducted by a team of the Regional Archaeological Museum in Plovdiv. So far, archaeologists have only unearthed the topmost layer, revealing an 8-meter-long wall. Their assumptions are that it is from the middle of the 3rd century and it has buried a Roman soldier. There is, however, evidence that it was possible it was built at the end of the 1st or the beginning of the second century of the new era for a Thracian king who was the deputy of the Roman Emperor. Around the mound there was a 450-meter-high wall, 2 meters high, and a large statue on the top. There is also an ancient cemetery open there. If these assumptions prove right, it turns Maltepe into a unique discovery. Such graves, but not in the form of a pyramid, are located in Palmyra and Rome, but only 5 meters high. (Source: www.marica.bg)


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