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Business Industry Capital
ISSN 1311-364X
Tuesday, 20 February 2018, Issue 4653
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(20.02.2018)
  EUR   1.95583  
GBP   2.20773
USD   1.57601
CHF   1.69880
EUR/USD   1.2410*
ECB exchange rate
Basic Interest Rate
  as of 01.02   0 %  


Bulgarian Stock Exchange - Sofia - 19.02.2018
  Total turnover (BGN): 482 866.42  
Traded companies: 36
Premium 238 952.50
Standard 182 536.84
REIT 30 979.40
Structured 253.26
Bonds 30 144.42
Biggest change
St. St. Constantine and Helena Holding JSC - Varna -5.26 %
Doverie - United Holding JSC - Sofia 1.01 %
BaSE - Shares: 72 073.30
BaSE - REIT: 200.00

Manufacture of luggage, handbags and the like, saddlery and harness
BEIS rating
Top 10 companies by
Net sales
for 2016
(thous. BGN)
  
  1   Prolet SPLTD - Dimitrovgrad   7 010  
  2   Martsia bags SPLTD - Plovdiv   6 747  
  3   Stany 89 LTD - Plovdiv   5 308  
  4   Paldin Bags LTD - Plovdiv   4 237  
  5   MVL LTD - Plovdiv   3 432  
  6   Adriatika Blu LTD - Stamboliyski   3 269  
  7   Zarena JSC - Plovdiv   1 733  
  8   Chaika 97 JSC - Plovdiv   1 299  
  9   Kok - 2000 LTD - Plovdiv   1 126  
  10   Derma Elas LTD - Sofia   747  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Alphatour JSC - Sofia
Building Management Invest SPLTD - Sofia
Demisvet JSC - Sofia
Evmolpia invest JSC - Plovdiv
Melko International JSC - Sofia
Printing House JSC - Sofia
Regala-invest JSC - Varna
 
Forthcoming General Meetings



Financial news

A meeting of the Directors-General for Higher Education will be held on 19-21 February 2018, at the National Palace of Culture, within the framework of the Bulgarian Presidency of the Council of the EU. The Bulgarian project MyCompetence, implemented by the Bulgarian Industrial Association with the financial support of the European Social Fund, will be presented within the framework of the Operational Program "Human Resources Development 2007-2013". MyCompetence's capabilities for convergence of professional and educational standards in terms of skills and competences will be presented by Zhechko Dimitrov - Program Director at BIA.

Source: BIA

Foreign direct investment (FDI) in Bulgaria rose by an annual 36.7% to EUR 901.9 million in 2017, the central bank, BNB, said citing preliminary data. The FDI was equivalent to 1.8% of BNB's 2017 GDP estimate. Net real estate investments by non-residents in Bulgaria totalled EUR 10.8 million last year, compared to EUR 63.1 million in 2016. The largest inflow of real estate investment came from Russia, 53.6% of the total volume. Germany followed with 11.5% and Ukraine with 11.1%. The largest net direct investment inflows in Bulgaria during the review period, of EUR 875.7 million, came from the Netherlands, followed by Switzerland with EUR 126.6 million.

Source: Monitor

 
REFA qualification course
Module 1: 12.03 - 16.03.2018 and 26.03-30.03.2018
Module 2: 16.04 - 27.04.2018

Corporate organization and management and optimization of the production processes
First module: “Work Systems and Process Design”
Topic:Company Data/Processes
  • Process Charts, Sequence Structure
  • Material Flow/Simulation
  • Group Work
 
http://refa.bia-bg.com/, tel. 981-45-67, Sofia
Companies

Sweden-based entertainment company Modern Times Group (MTG) has signed an agreement to sell its 95% stake in Bulgaria's Nova Broadcasting Group to Czech-based investment group PPF. The transaction values 100% of Nova Broadcasting Group at EUR 185 million. Closing of the deal is subject to regulatory approvals and expected to take place in the first half of 2018. Citigroup Global Markets is acting as financial adviser to MTG. MTG will use the proceeds from the deal to invest in its Nordic entertainment, Studios and global digital entertainment businesses. The deal is in line with MTG’s ongoing strategic transformation from a traditional national broadcaster to a global digital entertainer. Nova which employs 650, comprises seven TV channels and 19 online businesses that together generated 991 million Swedish crowns in sales and 195 million Swedish krona in operating income (EBIT) for 2017.

Source: econ.bg

Bulgaria's competition authority has rejected a request to temporarily suspend the tender for the selection of owner's engineer launched by ICGB, the project company developing the Gas Interconnector Greece-Bulgaria. The request for temporary suspension was filed by Bulgarian company Next Invest together with a complaint over the extension of the deadline for submitting offers. The decision can be appealed before the Supreme Administrative Court within the next three days. Last month, ICGB said it has decided to extend to February 13 the deadline for the submission of offers in the owner's engineer tender. The company is now expected to extend the deadline again. The ICGB pipeline will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora. The planned length of the pipeline is 182 km and the projected capacity will be up to 3 billion cu m per year in the direction from Greece to Bulgaria. The gas link is estimated to cost EUR 220 million. The project is being implemented by the joint venture company ICGB, in which state-owned Bulgarian Energy Holding (BEH) and Greece-registered IGI Poseidon hold equal shares. Greek public gas corporation DEPA and Italian energy group Edison own 50% each of IGI Poseidon.

Source: Capital

Central Depository completed a joint project with Bulgarian National Bank, allowing the depository to settle transactions in euro in the TARGET2 real-time gross settlement system. "The possibility to settle transactions in euro is an important prerequisite for carrying out multiple initiatives related to the development of the capital market in the country and in the region," Vassil Golemanski, CEO of the Central Depository, said. The new functionality will allow the Central Depository to settle transactions with foreign depositories, which will support the initiatives of the Bulgarian Stock Exchange related to SEE Link, the platform for trading of securities listed on the equity markets in Southeast Europe (SEE), as well as the development of the BSE International segment of the Sofia bourse, where shares of companies listed on foreign stock exchanges will be traded.

Source: Banker

Bulgaria's financial regulator has asked Expat Asset Management to revise the translation of the documents related to the listing of six of Expat's exchange-traded funds (ETFs) on a stock exchange in Germany. The documents concern Expat Asset Management's Expat Slovenia SBI TOP UCITS ETF, Expat Slovakia SAX UCITS ETF, Expat Croatia CROBEX UCITS ETF, Expat Hungary BUX UCITS ETF, Expat Macedonia MBI10 UCITS ETF and Expat Serbia BELEX15 UCITS ETF, the Financial Supervision Commission said. Four of the six ETFs started trading on the Bulgarian Stock Exchange (BSE) on February 13. Expat Macedonia MBI10 UCITS ETF and Expat Serbia BELEX15 UCITS ETF are expected to start trading on the Sofia bourse by the end of the month. Last month, Expat Asset Management's Expat Bulgaria SOFIX UCITS ETF, which tracks the performance of the blue-chip SOFIX index of the BSE, started trading on the Frankfurt Stock Exchange. Expat Bulgaria SOFIX UCITS ETF, launched in August 2016, was the first ETF on the Bulgarian stock exchangeExpat Asset Management is a unit of Bulgaria's Expat Capital.

Source: SeeNews

Bulgaria’s Financial Supervision Commission (FSC) has rejected a capital hike prospectus of investment company Alpha Bulgaria. Alpha Bulgaria plans to issue 59.1 million shares with a nominal value of BGN 1 each, equal to their sale price. The regulator's decision can be appealed within 14 days before the Supreme Administrative Court. Last month, the regulator asked the company to revise its prospectus for a second time, after Alpha Bulgaria did so in October 2017. In September 2017, Alpha Bulgaria’s shareholders approved a proposal to increase the company’s capital to BGN 60.2 million from BGN 1.2 million via the issuance of 59 million new shares. The company said at the time it will consider the capital hike successful if at least 50 million new shares are subscribed for and fully paid for. In July 2017, FSC rejected Alpha Bulgaria’s prospectus because the decision for the capital hike was adopted at a general meeting on June 26 without a quorum.

Source: SeeNews



       Bulgarian Industrial Association

The need for Scale Up Managers – Your opinion is important to us!



 

       World

Europe

Anti-corruption authorities in Latvia have arrested the governor of the country’s central bank, Ilmars Rimsevics, the government said, while assuring there is “no sign of danger” to the financial system. Rimsevics, who was appointed governor in 2001, was detained by officers from the Corruption Prevention Bureau (KNAB) on Saturday and questioned for seven hours before being taken to another location on Sunday. Local media said anti-corruption officers also raided the governor’s residence and his offices at the Bank of Latvia. Latvian Prime Minister Maris Kucinskis confirmed the arrest but insisted there was “no sign of danger for the Latvian financial system”. “For now, neither I (as prime minister) nor any other official has any reason to interfere in the work of the KNAB. The office (KNAB) is working professionally,” Kucinskis said. “When KNAB considers it possible to give additional information to the public, it will do so,” he added.

Source: EurActive

America

Venezuela will launch a pre-sale of its commodity-backed "petro" cryptocurrency on Tuesday. President Nicolas Maduro hopes the country's own digital currency will help it to make financial transactions and get around Western sanctions. Both the United States and the European Union have imposed economic sanctions on Venezuela over their opposition to its autocratic government. Last year, the Economist Intelligence Unit's Democracy Index downgraded Venezuela from a "hybrid regime" to an "authoritarian regime" due to its "continued slide towards dictatorship." Venezuela's petro token will be backed by its oil, gas, gold and diamond reserves, according to the government. The country's cryptocurrency regulator said Friday that it would draw investment from Qatar, Turkey and other Middle Eastern countries, as well as from European nations and the U.S. The petro will not be available in the Venezuelan bolivar initially. Venezuela's own hard currency collapsed as the South American state grappled with crippling hyperinflation.

Source: CNBC

Asia

Plenty of places have committed to exploring the economic viability of building a Hyperloop, but nobody has been brave enough to say they'll actually construct one. It's why the news coming out of India's latest announcement is such a big deal, because it includes a pledge to build a working test track. Prime Minister Narendra Modi and Sir Richard Branson announced the partnership between Virgin Hyperloop One and the Indian state of Maharashtra. The deal will see the pair look into developing a high-speed link between the cities of Pune and Mumbai, with the route going via Mumbai International Airport. At current speeds, it takes around three and a half hours to make the 100-mile journey, either on a train or by car. Hyperloop One believes that it can shrink that journey time down to a slender 25 minutes, as well as dramatically reducing freight times between Mumbai's port and the inland Pune. That's important, since around a quarter of all the freight that passes through Mumbai's ports has Pune as its destination or place of origin.

Source: Associated Press

 
Indexes of Stock Exchanges
16.02.2018
Dow Jones Industrial
25 219.38 (19.01)
Nasdaq Composite
7 239.46 (-16.97)
Commodity exchanges
16.02.2018
  Commodity Price  
Light crude ($US/bbl.)62.21
Heating oil ($US/gal.)1.9300
Natural gas ($US/mmbtu)2.6400
Unleaded gas ($US/gal.)1.9600
Gold ($US/Troy Oz.)1 343.40
Silver ($US/Troy Oz.)16.52
Platinum ($US/Troy Oz.)1 007.10
Hogs (cents/lb.)68.15
Live cattle (cents/lb.)127.65

       Discover Bulgaria

Garden of the Cyrillic alphabet in Pliska

The Garden of the Cyrillic alphabet in Pliska was created by Karen Alexanyan. It was founded on May 2nd, 2015 on the occasion of the 1115th anniversary of the Christianization of the Bulgarians in the Orthodox Christian faith. The duly respect toward the baptist tsar and unifier of the Bulgarian people is paid in the chapel at the end of the Garden - St Boris I the Baptist. The 2 meter high Cyrilic characters are crafted in Armenia by 12 Armenian sculptors. The natural tegular color of the tuff sandstone, from which the sculptures were made, emanates warmth and the power of the Armenian land. Six of the letters spell the name of the first Bulgarian capital - Pliska. The rest are situated freely on the green area, not following the alphabetical order, because each letter bears a symbol with its images and ornamentations. Tsar Boris' and st. Cyril and Methodius' sculptures are crafted by the Bulgarian sculptor Behcet Danadzha. The gallery is situated in a spacious room made from stone in an old-fashion style. The pictures there are painted based on ideas of the creator of the dwelling and are bought by him. The authors are Assoc. Prof. Ivan Uzunov - Head of the Department of Painting in Veliko Tarnovo-based University St. St. Cyril and Methodius, Mihail Mihailov from Sofia and Valentin Gyuleshev from Targovishte. The paintings depict the most important moments and events from the creation and adoption of the Cyrillic alphabet from the Slavic world. (Photo: http://дворнакирилицата.bg/)


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Bulgarian Issue: 29926, English Issue: 3005

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/
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