Last Issue    Subscribe NOW!    Analyses    Discover Bulgaria    Български  Archive
Business Industry Capital
ISSN 1311-364X
Friday, 24 January 2020, Issue 5123
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

BIC Capital Market Ltd. updated
the General terms and conditions for using information services and Privacy policy.


       Bulgaria
 
 On-line issue
 Bulgarian issue
 Unsubscribe


BNB Exchange Rates
(24.01.2020)
  EUR   1.95583  
GBP   2.31465
USD   1.76344
CHF   1.82209
EUR/USD   1.1091*
ECB exchange rate
Basic Interest Rate
  as of 01.01   0 %  


Bulgarian Stock Exchange - 23.01.2020
  Total turnover (BGN): 316 626.59  
Traded companies: 28
Premium 20 479.05
Standard 273 179.76
REIT 12 967.78
Rights 10 000.00
Biggest change
Zarneni Hrani Bulgaria JSC - Sofia -7.50 %
Trace Group Hold JSC - Sofia 1.94 %
BaSE - Shares: 420.00
BaSE - REIT: 244.50

Manufacture of mattresses
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Ted Bed SPJSC - Plovdiv   47 956  
  2   Red Springs SPLTD - Plovdiv   17 227  
  3   Gloub Industris SPLTD - Plovdiv   3 899  
  4   Nekrato LTD - Sofia   3 780  
  5   Happy Dreams SPLTD - Sofia   3 409  
  6   Bodomex 2 LTD - Tarnicheni   2 412  
  7   Ted Invest SPLTD - Plovdiv   2 149  
  8   Trans Mebel LTD - Gotze Delchev   197  
  9   Relax Matt LTD - Sofia   167  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Industrial Zone Zagore JSC - Stara Zagora  
Forthcoming General Meetings



Financial news

Unemployment among people in Bulgaria aged 55 and older was 4.4 per cent in 2018, dropping from 5.6 per cent the previous year, according to a report adopted by the Cabinet on January 23. In 2018, the employment rate among people aged 55 to 54 was 60.7 per cent, 2.5 percentage points higher than in 2017. The report, on the coverage of the national concept for promoting the active life of the elderly in Bulgaria (2012 – 2030) in sectoral policies for the period 2017 – 2018, presents the main demographic trends, challenges and actions taken by the responsible institutions promoting the active life of older people and responding to an aging population. It takes into account the results of the measures put in place to ensure that older people have better access to the labour market, health services and lifelong learning, and to reduce poverty. According to Bulgaria Employment Agency, in 2018, a total of 71 893 people over 50 came into employment, a figure 1196 higher than in 2017. In 2017-2018, 34 192 people over the age of 50 were included in employment under programmes and incentives funded by the state budget or the Operational Programme Human Resources Development.

Source: Sofia Globe

The Council of Ministers approved the participation of the Republic of Bulgaria in the International Monetary Fund (IMF) initiative to raise funds to settle Somalia's debt to the IMF, amounting to EUR 242 million. The amount with which Bulgaria will join is amounting to 1.48 million SDR (special drawing rights) The IMF initiative will reduce the external debt burdens of the most heavily indebted poor countries under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).

Source: Novinite.com

 
Companies

German sanitary ware company Villeroy & Boch can buy Ideal Standart, which has production facilities in Bulgaria - Ideal Standart Vidima JSC. This is clear from Villeroy & Boch's response to media reports about the planned deal. Talks about the acquisition are still in the early stages and no decisions have yet been taken at the Board of Directors and Supervisory Board levels. "It is possible that Villeroy & Boch AG may abandon the project in the future or the acquisition may not take place for other reasons," it said. Ideal Standard - Vidima explained that they do not yet have an official position on the case by the parent company and cannot comment. According to a report from Manager Magazine, Villeroy & Boch will almost double its sales with the acquisition, but there are problems with the owner group. The Brussels-based Ideal Standard, which employs 9,500 people, was owned by financial investor Bain Capital until 2018, which has run into financial difficulties due to interest payments and has dropped out of its investment. Subsequently, American lenders Anchorage and CVC Credit Partners converted their bonds into equity and have since managed Ideal Standard.

Source: economic.bg

The construction of the Greece-Bulgaria gas interconnection is expected to be completed in October, the Bulgarian energy ministry said. It is crucial that the Interconnector Greece-Bulgaria starts operating in parallel with the launch of the Trans Adriatic Gas Pipeline (TAP). Bulgaria will receive 1 billion cu m of natural gas per year from Azerbaijani via the interconnection with Greece. Greece's Corinth Pipeworks will deliver the pipes necessary for the construction of the first 47 km section of the interconnector in February, while the equipment for automatic welding of pipes has already been delivered to Thessaloniki and is about to be transported to Bulgaria, Greece's J&P-Avax explained. Preparatory works on the route of the pipeline are still being conducted in both Bulgaria and Greece. ICGB, the project company developing the gas link, signed contracts for the supply of pipes and construction of the interconnector with Corinth Pipeworks Industry and J&P-Avax, respectively, last year. The construction of the 123-km section of the interconnector on Bulgarian soil will begin in 2020. The pipeline, has a total estimated cost of EUR 220 million. In 2019, the European Investment Bank (EIB) said that it will provide a EUR 110 million loan to state-owned Bulgarian Energy Holding to finance part of the project, which will also help establish a link with TAP.

Source: Monitor

The Ministry of Environment and Waters is withdrawing the permit of the Bobov Dol TPP for waste incineration. According to the environment Minister Emil Dimitrov, an inspection revealed that the enterprise incinerates waste for which it is not authorized. According to Dimitrov, the other problem is that the investment in the filters has not been completed, although the plant has been given deadlines to complete the installation of the filter installation. In a check last week, the plant claimed that only authorized waste was burned, but through the CCTV system it was proven not to be the case. "They waited a few days after I politely asked them to suspend the facilities for which they had no filters - they are not completed as described in the complex permit. They were of a different opinion. We watched the records and it turned out that they continued to burn waste - not harmful waste, not hazardous waste, it does not endanger nature and the population, but waste that does not appear in their complex permit," Minister said.

Source: news.bg

The European Bank for Reconstruction and Development is providing USD 100 million financing to Louis Dreyfus Company to finance the working capital needs of the agricultural group's units in eight countries, including Bulgaria and Romania. "The expansion will provide access to LDC’s supply chains to many regional small and medium-sized grain and cotton farmers, which is important for their development and planning activity," the EBRD said in a statement. Small farms will also receive training on modern agronomic practices as part of their cooperation with LDC, in order to improve the quality of their produce. In addition, the programme will support cross-border trade flows and the expansion of the agricultural commodities market. The investment will also support the adoption by Louis Dreyfus Company of an enhanced climate corporate governance approach. Louis Dreyfus Company is active in over 100 countries worldwide, originating, processing, merchandising and transporting approximately 80 million tons of products annually.

Source: SeeNews

Bulgarian diversified group Stara Planina Hold said that its consolidated sales fell by an annual 7.47% to BGN 221.4 million, slightly better the company's projection for a 7.71% decrease. In December alone, Stara Planina Hold's consolidated sales amounted to BGN 12.4 million, exceeding the company's forecast for sales of BGN 11.8 million. Sales in January are projected at BGN 18.8 million, down by 7.95% year-on-year. Stara Planina Hold's investment portfolio includes companies from the sectors of machine building, electrical engineering and perfumery and cosmetics.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

Turkish foreign minister Mevlut Cavusoglu has accused the EU of failing to provide the financial aid agreed in the refugee deal between the two sides. Under the deal, Turkey has promised to stop the flow of migrants travelling to the EU, which in return has promised to reexamine membership talks for Turkey’s EU accession. “Now it is 2020 and we still have not received the first €3 billion in its entirety,” Cavusoglu said, referring to the aid the bloc had promised in both 2016 and 2018. His warning came ahead of German Chancellor Angela Merkel’s official visit to the country. She is expected to meet with Turkey’s president Recep Tayyip Erdogan on 24 January. Cavusoglu has also accused the EU of not respecting other parts of the deal: “We are sticking to the deal and we take all refugees back, who are sent back to us. What about the EU? There has been no expansion to the customs union, and no further discussions about our membership of the EU”, he said. Recently, German media reported that the EU has cut pre-accession aid to Turkey by 75%. The EU has denied the claim.

Source: Associated Press

America

A Canadian court approved a C$196.5 million ($150 million) fine for Volkswagen after the company pleaded guilty to dozens of charges of violating emissions rules for diesel cars,media reported. In December, the Canadian Environment and Climate Change Commission (ECCC) accused VW of violating 60 environmental regulations by importing 128,000 vehicles that did not meet emissions standards. Vw has faced lawsuits in many countries over the past few years over the diesel emissions fraud scandal, which has so far cost it 30 billion euros. As the litigation continues, the effects of the “emissiongate” continue to ferment. Earlier this month, Poland announced a fine of 120.6 million zlotys (about 219 million yuan) for VW, the largest fine ever issued by the country’s consumer regulator. Earlier, VW reached a settlement with Australian car owners, agreeing to pay a total of A$127 million ($616 million).

Source: Xinhua

Asia

Japan's exports fell in December from a year earlier, but shipments to China rose for the first time in 10 months. Japan's exports fell 6.3% on year in December, declining for the 13th consecutive month, according to data released by the Ministry of Finance. The decline in exports was more than the 5.2% contraction forecast by a FactSet poll of economists, but was better than the 7.9% drop marked in November. The country logged 152.5 billion yen ($1.39 billion) in trade deficit. Japan's exports to China in December rose 0.8% on year as demand for chip-making machines and cars increased. However, exports to the U.S. contracted 14.9% as shipments of cars and auto parts declined. Looking ahead, the global economy is expected to return to moderate recovery on the back of recent positive developments, including progress in U.S.-China trade talks, said Masato Koike, an economist at Dai-ichi Life Research Institute.

Source: Market Watch

 
Indexes of Stock Exchanges
23.01.2020
Dow Jones Industrial
29 160.09 (-26.18)
Nasdaq Composite
9 402.48 (18.71)
Commodity exchanges
23.01.2020
  Commodity Price  
Light crude ($US/bbl.)55.82
Heating oil ($US/gal.)1.8000
Natural gas ($US/mmbtu)1.9300
Unleaded gas ($US/gal.)1.5800
Gold ($US/Troy Oz.)1 560.20
Silver ($US/Troy Oz.)17.79
Platinum ($US/Troy Oz.)1 006.50
Hogs (cents/lb.)75.35
Live cattle (cents/lb.)124.18

       Discover Bulgaria

Elena Nikolay (1905 - 1993)

Elena Nikolay is a Bulgarian opera singer, mezzo-soprano. Born as Stoyanka Savova Nikolova on 24 January 1905 in the village of Tserovo, Pazardjik district. After graduating from the American College of Samokov, she studied singing with the great pedagogue and singer Ivan Vulpe, who prepared her for applying at the Conservatory. She is not accepted her because of ... non-musicality. Elena Nikolay goes to America to her brother emigrant. There she worked, studied philosophy and Italian in the town of Oberlin, Ohio. In 1929 she joined the Milan Conservatoire "Giuseppe Verdi", where she studied singing at Vincenzo Pintorino. In 1934, she began to use the pseudonym Elena Nikolay and later on debuted in the role of Azucena in Giuseppe Verdi's Trubedard, in the Salo Opera Theater. For only a few seasons she became one of the most sought-after mezzo-soprano singers, for two decades since 1938 she was the first mezzo-soprano of the Milan La Scala opera. In 1943, after the bombing of Milan, she returned to Sofia, but after the war she worked again in La Scala. Her first guest appearance on the Sofia scene was in 1942 with the roles of Azucena and Amnery, and in 1943 she performed a charity concert and a live radio concert (as it was then). After the war, she was invited by the authorities in 1956 and 1961. In 1963, she voluntarily left La Scala and moved to Rome, but continued her career in film. Between 1963 and 1968, she starred in seven films, with the first film in which she starred, Il Boom, starring Alberto Sordi and director Vittorio De Sica. Elena Nikolay is honored as one of the most significant opera singers of the twentieth century. She died on 23 October 1993 at the Verdi home in Milan. (Source: www.operasofia.bg)


Subscribers of "Business Industry Capital" as of 24.01.2020
Bulgarian Issue: 29930, English Issue: 2892

Published by BIC Capital Market Ltd., Sofia, 16-20 Alabin Str.,
tel. (+359 2) 980-10-86, fax 981-45-67, e-mail: bic@bia-bg.com, http://beis.bia-bg.com/
Copyright © 1999-2020. All rights reserved.


Archive
Business Industry Capital

Година:  
January 2020
 MTWTFSS
1  12345
26789101112
313141516171819
420212223242526
52728293031  


 2020   2019   2018  
 2017   2016   2015  
 2014   2013   2012  
 2011   2010   2009  
 2008   2007   2006  
 2005   2004   2003  
 2002   2001   2000  
 1999