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Business Industry Capital
ISSN 1311-364X
Tuesday, 07 July 2020, Issue 5235
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(07.07.2020)
  EUR   1.95583  
GBP   2.16102
USD   1.72700
CHF   1.83784
EUR/USD   1.1325*
ECB exchange rate
Basic Interest Rate
  as of 01.07   0 %  


Bulgarian Stock Exchange - 06.07.2020
  Total turnover (BGN): 186 163.35  
Traded companies: 31
Premium 34 306.26
Standard 112 646.96
REIT 39 210.12
Biggest change
Active Properties REIT - Plovdiv -15.34 %
Odessos Shiprepair Yard S.A. JSC - Varna 4.72 %
BaSE - Shares: 128 146.49
BaSE - REIT: 1 204.00

Manufacture of electric domestic appliances
BEIS rating
Top 10 companies by
Total income
for 2018
(thous. BGN)
  
  1   Liebherr Hausgeraete Marica SPLTD - Radinovo   416 215  
  2   Tesy LTD - Shoumen   124 401  
  3   Eldominvest LTD - Varna   47 896  
  4   Pribor P 61 SPLTD - Plovdiv   12 521  
  5   BNS Production SPLTD - Vidin   4 893  
  6   Lit - 15 SPLTD - Vidin   2 306  
  7   Radix SPLTD - Sofia   2 277  
  8   Vicom SPLTD - Konush - Hs   2 226  
  9   Eurotrade LTD - Haskovo   2 050  
  10   Skitia 1 GT SPLTD - General Toshevo   1 851  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Aktivi ko JSC - Sofia
AutoBohemia JSC - Sofia
Azure Sea JSC - Sofia
Bulgarian Foreign-Trade Company JSC - Sofia
Euratek finance JSC - Sofia
Flagman Hotel JSC - Sofia
Fund Estates Real Estate Investment Trust REIT - Sofia
IP Favorit JSC - Sofia
Kron 96 JSC - Asenovgrad
Modtrico JSC - Levski
Net Acquisition JSC - Karnobat
Sirma Prista JSC - Sofia
Velbujd JSC - Kyustendil
Velbuzhd Style JSC - Kyustendil
 
Forthcoming General Meetings



Financial news

The industrial production index, retail trade turnover and export volumes fell sharply in April this year compared to the same month last year, industry-key data released by the National Statistical Institute show. This is not surprising given that April was the first full month of the state of emergency due to the coronavirus pandemic. In April 2020 the turnover in retail trade decreased by 19.9% compared to the same month of the previous year. The most serious decline in turnover was in the retail sale of automotive fuel and lubricants (by 40.3%), which is explained by travel restrictions due to the coronavirus pandemic. The index of industrial production registered a decrease of 15.7% compared to April 2019. The decline in construction output was 15 percent. In April 2020, the overall consumer confidence indicator decreased by 17.4 points compared to the level three months ago. The foreign trade balance for April 2020 is positive at EUR 120.2 million with a deficit of EUR 222.1 million for April 2019. For January - April 2020 the trade balance was negative at EUR 95.1 million (0.1% of GDP) with a deficit of EUR 569.3 million (0.9% of GDP) for the same period of 2019.

Source: Dnevnik

Nearly 175,000 non-profit companies and legal entities have filed declarations for zero activity since the beginning of 2020, the Registry Agency informed and recalled that on Friday, July 3, the 3-month extension expired. Nearly 60 percent of them were sent to the Registry Agency electronically. The number of applications for inactivity of companies remains stable compared to 2019 - a total of 170,000. According to the changes made in the Accounting Act at the end of last year, a declaration of inactivity is submitted once and not annually, as it was until now. The number of submitted annual financial statements for the past 6 months is 83,499, and nearly 75 percent of them are submitted online (62,483). Their submission continues until September 30. From July 27, the sites of the Property Register, the Commercial Register and the Register of Non-Profit Legal Entities will cease to function. Their functions will be taken over by the single portal https://portal.registryagency.bg/

Source: 24 chasa

 
Companies

Belgium-based web hosting company team.blue has acquired Bulgarian peer SuperHosting, as part of its strategy to further strengthen its position in Central and Eastern Europe. SuperHosting founders Lyubomir Rusanov and Metodi Drenosvki will stay on board. Sofia-based SuperHosting recently launched a second office in Serbia to start its geographical expansion in the region. The company specializes in professional web hosting, domains and VPS services. No financial details about the transaction were disclosed.

Source: SeeNews

Bulgarian investment firm Bulgar Czech Invest Holding has acquired 100% of local peer KBM for BGN 3.5 million. At the end of 2018 KBM had assets of over BGN 20 million. KBM closed 2018 with a net profit of BGN 3.4 million. On December 27, 2019, Bulgar Czech Invest Holding placed an EUR 11 million bond issue and said it will invest the proceeds in future acquisitions.

Source: investor.bg

Two companies in the Lovech region with debts to their employees have been declared bankrupt. Within three months, the affected workers can claim compensation from the Fund for Guaranteed Receivables Fund. Technokoroza JSC and Silva Mash SPLTD , which ceased production in the autumn of 2019 and dozens of their employees were left without salaries, have been declared bankrupt by decisions of the District Court in Lovech, entered in the Commercial Register. Temporary trustees have also been appointed to both companies. The Labor Inspectorate announced that the affected workers can turn to the Guaranteed Receivables Fund to receive compensation for the amounts due to them. The fund is administered by the National Social Security Institute, where workers can get more information about the procedure for their payment, the labor inspectorate said.

Source: BNR

Four municipal submitted a report requesting Toplofikacia Sofia EAD to take a new loan of BGN 40 million for working capital in order to recover and set off amounts on balancing accounts. of customers. The money is needed by the municipal company after normative changes have been made. The submitted report was considered earlier today at an online meeting of the Standing Committee on Engineering Infrastructure and Energy Planning. Of the 11 municipal councilors who voted, members of the commission, 7 voted "For" and 4 abstained. So far, the company's liabilities are over BGN 500 million. The bank loan is for 36 months with a 12-month grace period at an interest rate of 3%. The executive director of Toplofikacia Sofia, has already held talks with a bank. In order for the loan to be approved, the report must be adopted at a session of the Sofia Municipal Council.

Source: Banker

The Bulgarian National Bank said that it has awarded two contracts for the supply of coin blanks, worth a total of EUR 9.2 million, to Turkey's Kayalar Bakir Alasimlari. The coin blanks will be used to make 1 lev coins, the central bank said in a notice. The deals were signed on July 1. Two companies tabled offers in the tenders for each of the two contracts.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

The European Commission has put out a call for innovative clean technology projects in the first phase of its EUR 10 billion investment programme. Between 2020 and 2030, the Commission will allocate the Innovation Fund, which is made up of allowances under the EU Emissions Trading System. It is looking for renewable energy, energy-intensive industries, energy storage and carbon capture, use and storage projects that could help boost employment as part of a green recovery and pave the way to climate neutrality. During this first phase, EUR 1 billion will be allocated to large-scale clean technology projects, helping them to commercialise and overcome the challenges of large-scale demonstrations. Executive vice-president of the Commission, Frans Timmermans, said: “This call for proposals comes at just the right time. The EU will invest EUR 1 billion in promising, market-ready projects such as clean hydrogen or other low-carbon solutions for energy-intensive industries like steel, cement and chemicals. “We will also support energy storage, grid solutions, and carbon capture and storage. These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050.”

Source: Associated Press

America

After months of often difficult negotiations, Argentina made a new offer to creditors that stands a solid chance of anchoring one of the largest sovereign debt restructurings in the history of emerging markets. By potentially lifting a big cloud hanging over the country’s ability to grow solidly and inclusively — directly for the government’s finances and indirectly by improving prospects for private sector activity — such an orderly and collaborative resolution could help overcome long-standing economic challenges that have recently been worsened by Covid-19. The proposal would open the way for agreement with the International Monetary Fund, which has played a crucial role in providing Argentina with valuable technical analysis and third-party validation for the negotiations. Add to this the potential for beneficial “demonstration effects” for other emerging market cases, and the outcome may be a win all around, in sharp contrast to the aftermath of the country’s last major debt restructuring. Inheriting a troublesome situation in December, the newly elected government of President Alberto Fernandez embarked on negotiations with creditors.

Source: Bloomberg

Asia

Japan’s Fujitsu Ltd would halve its office space in three years as it rewrites the way employees work under a “new normal” amid the coronavirus pandemic. The IT solutions company said its roughly 80,000 group employees in Japan would work flexible hours, and work-from-home would be standard wherever possible. “We will overhaul our current work, allowance and welfare framework that is based on the assumption that employees commute to designated offices every day,” Hiroki Hiramatsu, head of the human resources unit, told a news briefing. Fujitsu has sold or ditched money-losing hardware businesses such as laptops and smartphones in recent years to focus on software services, a business relatively easy to conduct remotely. While reducing office space, the company plans to launch satellite offices in areas where many employees reside and sign up with more shared workspace providers, Hiramatsu said.

Source: Reuters

 
Indexes of Stock Exchanges
06.07.2020
Dow Jones Industrial
26 287.03 (459.67)
Nasdaq Composite
10 433.70 (226.02)
Commodity exchanges
06.07.2020
  Commodity Price  
Light crude ($US/bbl.)40.47
Heating oil ($US/gal.)1.2400
Natural gas ($US/mmbtu)1.7800
Unleaded gas ($US/gal.)1.2400
Gold ($US/Troy Oz.)1 794.60
Silver ($US/Troy Oz.)18.56
Platinum ($US/Troy Oz.)840.80
Hogs (cents/lb.)49.28
Live cattle (cents/lb.)100.10

       Discover Bulgaria

Lepenitsa Cave

Lepenitsa is a cave situated 13 km southwest of the town of Velingrad in the Rhodope Mountains, on the left bank of Lepenitsa River. The cave is 1525 m long, spread on three floors. The lowest one is 273 m long and an underground river passes through it. The water flows with 1600 m/h. The second floor is occupied by two lakes in dry weather, which become four when it is raining. The third floor is dry. The entrance of the cave is only a meter high, and the cave’s profile is quite inclined. This in fact has helped the cave protect its unique beauty. The cave has a very few branches, which provides the visitors the opportunity to enjoy the cave in its entire splendor. After entering the cave several halls can be seen. The floor of the first one is covered by flakes that look like shells. When the cave is lightened they refract the light in a variety of colors. Besides, there is a crater hall, a pearl hall, a small and a big temple in the cave. Here the speleologists have found seven pearls – some of the rarest natural formations that are now exposed in the National Museum of Natural History. According to Dr. Petar Beron there are four animal species in Lepenitsa that are not found in any other place in the world.


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