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Business Industry Capital
ISSN 1311-364X
Monday, 16 October 2017, Issue 4569
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(16.10.2017)
  EUR   1.95583  
GBP   2.19806
USD   1.65608
CHF   1.69586
EUR/USD   1.1810*
ECB exchange rate
Basic Interest Rate
  as of 01.10   0 %  


Bulgarian Stock Exchange - Sofia - 13.10.2017
  Total turnover (BGN): 421 421.49  
Traded companies: 34
Premium 25 076.74
Standard 276 041.40
REIT 120 303.34
Biggest change
Svilosa JSC - Svishtov -8.90 %
Central Cooperative Bank JSC - Sofia 2.50 %
BaSE - Shares: 1 770.40

Manufacture of other furniture
BEIS rating
Top 10 companies by
Net sales
for 2015
(thous. BGN)
  
  1   Parallel SPJSC - Sevlievo   56 311  
  2   IMS Forinvest LTD - Ognyanovo - Pz   36 248  
  3   BCC 95 LTD - Montana   31 538  
  4   Irim SPLTD - Rousse   28 549  
  5   Buldecor SPLTD - Sofia   26 965  
  6   Nikrom - Trabna Mebel JSC - Lovetch   13 638  
  7   Mebel stil LTD - Targovishte   12 883  
  8   Stefany Style SPLTD - Rousse   12 729  
  9   Nachevi - 90 - sie Co - Sliven   11 185  
  10   Rinko interior SPLTD - Rousse   10 541  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Alen Mak JSC - Plovdiv
DLD Invest Lozenets JSC - Plovdiv
Eco Global JSC - Plovdiv
Elektrostomana 2004 JSC - Karlovo
Has invest SPJSC - Plovdiv
IMLT JSC - Sofia
Partum SPJSC - Rousse
Sotsialen fund Maji 2000 JSC - Montana
Vatstroy engineering JSC - Sofia
 
Forthcoming General Meetings



Financial news

Inflation in September was 0.2% month-on-month, the National Statistical Institute said. It added up to an inflation of 1.3% from the start of the year and year-on-year inflation of 2.1%. The annual average inflation, measured by the consumer price index in the last 12 months (October 2016 - September 2017) compared to the previous 12 months (October 2015 - September 2016) was 1.3%. In September 2017, the prices of goods and services in the main consumer groups changed from the previous month as follows: an increase of 1.2% for food and non-alcoholic beverages; an increase of 0.1% for alcoholic beverages and tobacco, and for clothing and footwear; an increase of 0.7% for housing, water, electricity, gas and other fuels; a decrease of 0.4% for furnishings, household equipment and routine maintenance of the house; no change for health and for communication; an increase of 1% for transport; a decrease of 7% for recreation and culture; an increase of 1.5% for education; a decrease of 0.8% for restaurants and hotels.

Source: BTA

The minimum wage in Bulgaria will be BGN 510 next year. This was stated by the chairman of the Budget Committee in the National Assembly Menda Stoyanova. "About BGN 330 million will go to education workers, which is an average 15% salary increase, with an estimated BGN 150-180 million more for spending on improving the quality of education, scholarships and more," she explains. According to the government's plans, teachers' salaries in the next 4 years will be gradually increased, with the goal of reaching BGN 1500 by 2020. According to Stoyanova, in the budget for the next year, about BGN 100 million will be provided for salaries in the army, as well as additional costs of about BGN 480 million for modernization. "The increase in the spending part of the budget is possible in 2018 and it will happen, the difference compared to 2017 is BGN 2.5 billion," the chairman of the budget committee added. "This money came from the growth of the economy," says Menda Stoyanova.

Source: econ.bg



Companies

The European Commission said that Bulgaria has become the tenth EU member state to sign the European declaration on high-performance computing (EuroHPC). The objective of the declaration is the establishment of a cooperation framework between the signatory countries to acquire and deploy an integrated exascale supercomputing infrastructure. The European Commission, together with countries who have signed the declaration, are expected to prepare by end-2017 a roadmap with implementation milestones to deploy the European exascale supercomputing infrastructure. The aim is to have EU exascale supercomputers in the global top three by 2022. The EuroHPC declaration was originally launched and signed in Rome in March 2017 by France, Germany, Italy, Luxembourg, the Netherlands, Portugal and Spain. Subsequently, Belgium signed the declaration in June and Slovenia in July. Bulgaria will preside over the Council of the EU from January 1, 2018. The country is a part of a “trio” with currently presiding Estonia and Austria, which will hold the Council’s rotating presidency from July 1, 2018. The trio’s programme will focus on security and strengthening EU's external borders, economic growth and competitiveness, as well as stabilising neighbouring regions.

Source: Capital

Deputy Economy Minister Lachezar Borisov expects BGN 350 million new investments in the automotive industry. Three certificates for investor class of companies already in Bulgaria will be issued and now they will expand production. Witte Automotive Bulgaria, a subsidiary of the German Witte Automotive, which has a car locks plant in Ruse, has invested additional BGN 12 million. French Montupet, which also has a factory in Ruse producing cylinder heads for Volvo, Renault, Ford, Audi, BMW and others expanded its production by BGN 28 million. German Festo puts EUR 10 million in its plant in Sofia. The German company Ber-Hella Thermocontrol, which has invested over BGN 40 mln in a car air conditioner plant in Bozhurishte, will invest another BGN 80 mln. Another German company looks at Bozhurishte for a BGN 70 million-plant for gears.

Source: 24 chasa

Sofia City Council (SCC) has approved a proposal under which a private investor will finance 51% of the cost of a new subway station in the northwestern outskirts of the Bulgarian capital where it intends to develop a major residential project. The total cost of the construction of the new station is projected at BGN 24 million. By entering into partnership with the city government for the construction of the new subway station the investor aims to increase real estate prices in the region which is now sparsely populated. According to a separate report by BNT, the unnamed investor in the project is an 'American fund'. The city government will finance the remainder of the cost of the project and will be 100% owner of the station, which will be situated right next to the international railway line linking Sofia to the Serbian capital Belgrade. The Bulgarian transport ministry is planning to build a railway station there, which underlines the new subway station’s strategic importance. The construction of the future railway station is expected to begin in 2019 and will be coordinated with the construction of the subway station.

Source: investor.bg

Bulgarian power distribution company Energo-Pro Varna said its bondholders have approved a proposal that the company become a guarantor for liabilities of up to EUR 350 million of its Czech parent, Energo-Pro. The bondholders approved the proposal at a meeting held on October 12. Last month, Czech media reported Energo-Pro has increased its offer for the acquisition of assets of its Czech peer CEZ Group in Bulgaria to over EUR 300 million. Energo-Pro Varna is active in electricity distribution in northeastern Bulgaria, where it is the sole license holder, as well as in selling electricity to more than 1.2 million household and industrial consumers. CEZ Group told SeeNews last month that it was still considering all options related to the sale of its Bulgarian assets. The assets of CEZ Group in Bulgaria comprise CEZ Distribution Bulgaria, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria.

Source: SeeNews

A Chinese investor has announced plans to build a rims factory in the country and currently is exploring Ruse, Pleven and Plovdiv for the location. This was said by the director of the Bulgarian Investment Agency, Stamen Yanev. The initial investment is planned at EUR 30 million. Its subsidiary, which is doing the research on Bulgaria, is the largest producer and exporter of automotive aluminum rims. In 2011, it acquired a German manufacturer, one of the world's largest aluminum chassis suppliers, and a leading supplier in the powertrain segment in Europe.

Source: 24 chasa



       Bulgarian Industrial Association

 

 

       World

Europe

Finland is opposed to a joint euro zone budget or common finance ministry, the government said on Friday, pouring cold water on proposals floated by French President Emmanuel Macron. The centre-right coalition government said it would rather support reforms to increase discipline within the currency union than new joint responsibilities between member states. “Finland sees no need or grounds to create new institutions as an euro zone finance minister or a ministry, but considers current institutions to be sufficient,” the memo said. Macron outlined a sweeping vision for Europe’s future in a speech last month, calling for the EU to cooperate more closely on defence, immigration and social policy as well as finances. His proposals have met with a mixed response, notably from the euro zone’s dominant economy Germany which, while acknowledging the bloc needs reforming, has baulked at the idea of a common budget. Finland, the northernmost member of the euro zone, tends to follow Germany’s line on European issues and took a hardline stance over sovereign bailouts during the euro zone debt crisis.

Source: Reuters

America

Bank of America Corp reported a 15 percent rise in third-quarter profit as the lender kept a tight leash on costs and benefited from higher interest rates. Chief Executive Brian Moynihan’s years-long effort to streamline the United States’ second-largest bank and keep its costs in check are finally bearing fruit as the Federal Reserve raises borrowing costs. The lender’s large stock of deposits and rate-sensitive mortgage securities make it especially well placed to benefit from rate rises. Its third-quarter earnings performance beat rivals JPMorgan and Citigroup, which reported gains of 7.1 percent and 7.6 percent respectively on Wednesday. “Loans were up about 6 percent, that’s not quite as high as JPMorgan who reported yesterday. But again margins improved and credit quality improved,” Stephen Biggar, Argus Research director of financial institutions research, said. “And 6 percent growth is quite good in a deteriorating environment.”

Source: Reuters

Asia

China’s import and export growth accelerated in September, suggesting the world’s second-biggest economy is still expanding at a healthy pace despite widespread forecasts of an eventual slowdown. The data also suggested further improvement in the global economy, with business activity and demand having picked up markedly this year in Europe and the United States. The upbeat readings will be welcome new for Beijing ahead of a twice-a-decade Communist Party Congress next week, at which President Xi Jinping is expected to tighten his grip on power and set out the government’s top political and economic priorities for the next five years. Imports grew 18.7 percent in September from a year earlier, beating analysts’ forecasts for a 13.5 percent expansion and accelerating from 13.3 percent in August, customs data showed on Friday. The gain was stronger than the most optimistic forecast in a Reuters analysts poll. Exports rose 8.1 percent, below forecasts of 8.8 percent but the most in three months and handily beating August’s 5.5 percent.

Source: Reuters

 
Indexes of Stock Exchanges
13.10.2017
Dow Jones Industrial
22 871.72 (30.71)
Nasdaq Composite
6 605.80 (14.29)
Commodity exchanges
13.10.2017
  Commodity Price  
Light crude ($US/bbl.)51.88
Heating oil ($US/gal.)1.8100
Natural gas ($US/mmbtu)2.9700
Unleaded gas ($US/gal.)1.6300
Gold ($US/Troy Oz.)1 304.50
Silver ($US/Troy Oz.)17.38
Platinum ($US/Troy Oz.)945.20
Hogs (cents/lb.)62.38
Live cattle (cents/lb.)117.20

       Discover Bulgaria

Aviation and Bulgarian Air Force Day

By a decree of the Council of Ministers October 16th is celebrated as Day of the Aviation and Bulgarian Air Force. During the Balkan War Bulgarian Air Force the pilot Christo Toprakchiev suggested the use of airplanes to drop bombs on Turkish positions. Captain Simeon Petrov developed the idea and created several prototypes by adapting different types of grenades and increasing their payload. On October 16, 1912 in 9.30 AM lieutenant Radul Milkov and observer Prodan Tarakchiev took off with their Albatros F.II. They made a 50-minute flight in the region Edrine-Kadankioy-Papaztepe, and found the dislocation of the enemy army. Two bombs were dropped on the Turkish railway station of Karaagac. They were adapted for manual drop by the observer, and because of their small mass the effect was rather moral. This was the first use of an airplane as a bomber and the first bombing in Europe was done.


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