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Business Industry Capital
ISSN 1311-364X
Wednesday, 16 August 2017, Issue 4528
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 


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BNB Exchange Rates
(16.08.2017)
  EUR   1.95583  
GBP   2.14584
USD   1.66539
CHF   1.71309
EUR/USD   1.1744*
ECB exchange rate
Basic Interest Rate
  as of 01.08   0 %  


Bulgarian Stock Exchange - Sofia - 15.08.2017
  Total turnover (BGN): 7 007 099.73  
Traded companies: 48
Premium 257 072.63
Standard 6 597 509.15
REIT 57 393.62
Structured 3 591.00
Bonds 91 533.33
Biggest change
Euroins Insurance JSC - Sofia 33.07 %
Lomsko Beer JSC - Sofia -6.72 %
BaSE - Shares: 17 266.01
BaSE - REIT: 4 099 920.00

Manufacture of builders’ ware of plastic
BEIS rating
Top 10 companies by
Net sales
for 2015
(thous. BGN)
  
  1   Rollplast SPLTD - Sofia   55 402  
  2   Weiss Profil LTD - Sofia   20 227  
  3   Kristian Nejiko 90 SPLTD - Sofia   14 355  
  4   Terra Plast LTD - Pernik   11 391  
  5   Komfort Partners LTD - Varna   9 309  
  6   Devorex SPJSC - Branipole   8 309  
  7   Agnesika Plast LTD - Sofia   7 496  
  8   Cheh plast LTD - Vratza   6 309  
  9   Uyut stil LTD - Novi Iskar   5 481  
  10   Instal Engineering SV LTD - Plovdiv   5 246  
Make your own Bulgarian companies rating in BEIS

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Bulgarian companies

General meetings today
  Daru Car JSC - Sofia  
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Financial news

The average household income reached a total of BGN 1355.5 in the second quarter of 2017, an increase of 9.4% compared to the same period of the previous year. In nominal terms, the change is BGN 116.6. This is the latest data from the National Statistical Institute (NSI). And while towards the end of last year the income growth was due to the Christmas bonuses, the main reason for the April-June period is higher wages. There is also an increase in the income from self-employment, which rises to BGN 93 per person. More than half of the population's income comes from wages, with its share rising over the past 12 months - by 1.9 percentage points to 56.7%, according to NSI data. The second factor is pensions, which add up to a quarter of the total earnings, and the third is the self-employed income, which grows but remains with a small share (6.8%).

Source: Capital

The total cost of a household person in the second quarter of 2017 is BGN 1,195 and increases by 11.1% compared to the same quarter of 2016. In the structure of the total expenditure, the share of food expenditure (32.5%) wqas the biggest, followed by housing costs (16.4%), taxes and social security contributions (13.6%) and transport and communications costs (11.3%). Compared to the second quarter of 2016, the share of expenditure on food and non-alcoholic beverages decreased by 0.7 percentage points and the share of tax and social security expenditure increased by 1.4 pp. As absolute figures, all average household per capita costs are increasing in the second quarter of 2017, compared to the same quarter of 2016.

Source: Standart



Privatization

Bulgaria intends to set up a company pooling all assets and liabilities of the abandoned Belene nuclear power plant (NPP) project and offer it for privatization at the beginning of 2018. “By the end of September we must have a clear idea how to best utilize the equipment for NPP Belene,” energy minister Temenuzhka Petkova said. Petkova reiterated the position of the government that the potential investor should implement the project without a state guarantee or long-term power purchasing contracts. In December 2016, NEK paid EUR 601.6 million as compensation to Atomstroyexport, a subsidiary of Russia's Rosatom, for the equipment manufactured by the Russian company for the Belene project, which Bulgaria had abandoned. The sum was awarded to Atomstroyexport by the International Court of Arbitration in Geneva, which earlier in 2016 ruled that Bulgarian power utility NEK must pay compensation to the Russian company for ditching the project for construction of the nuclear power plant.

Source: economic.bg

Companies

The total amount of leasing companies' claims under financial and operational leases was BGN 3,477 million (3.6% of GDP) at the end of June 2017, the Bulgarian National Bank said. Those claims were up 6.9% (BGN 225.3 million) on a year earlier, and up 3.5% (BGN 3.252 million) on end-June 2016. Claims under agreements for financial leases totalled BGN 3,319 million, up 5.5% year-on-year. At the end of June, claims under agreements for financial leases of commercial and light commercial motor vehicles amounted to BGN 1,115 million, 7.7% (BGN 79.3 million) more than a year earlier. Claims under agreements for financial leases of machines, facilities and industrial equipment totalled BGN 666.5 million, decreasing by 1.7% (BGN 11.7 million) from a year earlier.

Source: investor.bg

Hamburg-based copper producer Aurubis said the copper concentrate throughput of its Bulgarian smelter more than doubled to 335,000 tons in the third quarter of its 2016/2017 fiscal year. In the nine months started October 1, 2016 the copper concentrate throughput of the Pirdop smelter in Bulgaria rose by 37% year-on-year to 986,000 tons. Sulfuric acid output at Aurubis's plant in Pirdop rose by 39% to 1.02 million tons during the first nine months of the company’s 2016/2017 fiscal year. In the April-June period alone, sulfuric acid output rose to 356,000 tons from 117,000 tons in the same period last year. Cathode output at Aurubis’ Bulgarian smelter increased by 8% YoY in the October-June period to 172,000 tons. In the third fiscal quarter alone, cathode output increased by 27% YoY to 57,000 tons. The Pirdop smelter is located 80 kilometres east of Sofia. Aurubis operates in Germany, Belgium, Bulgaria, Italy, Slovakia, the UK, the US and Finland.

Source: Capital

Bulgarian diversified group Holding Varna said local Central Cooperative Bank has decreased its shareholding interest in the company to 4.42% from 9.46%. Following the transaction, Central Cooperative Bank now owns 231,680 Holding Varna shares, the group said in a bourse filing. Last week, Holding Varna said local Universal Pension Fund (UPF) Saglasie has acquired 266,549 shares in the company, representing a 5.09% stake, for an undisclosed price.

Source: SeeNews

Bulgaria’s financial regulator has approved the prospectus for a capital increase of lavender oil and cosmetics producer Lavena through a new share issue. The 53,330 new shares, with nominal value of BGN 1 each, will be issued at a price of BGN 79 apiece. The capital increase will be considered successful if at least 40,000 new shares are subscribed for and fully paid for. Lavena’s share capital currently stands at BGN 266,652. Lavena, established in 1962, owns lavender plantations and exports its products to Europe, Asia, Africa, Australia and the U.S. Bulgaria is among the world's biggest producers of lavender oil.

Source: Capital

Bulgarian cellulose producer Svilosa said its consolidated net profit rose to BGN 12.9 million in the first six months of the year, compared to BGN 2.5 million in the like period of 2016. The company’s sales revenue increased to BGN 66.3 million in the period under review, from BGN 51.7 million the year before. The cost of goods sold rose to BGN 45.8 million in the January-June period, from BGN 42.0 million a year earlier. Svilosa produces bleached kraft pulp and related items.

Source: SeeNews



       Bulgarian Industrial Association

 

 

       World

Europe

Strong household spending, rising state expenditure and higher company investments consolidated Germany's role as the euro zone growth engine in the second quarter, although accelerating imports meant growth came in just below expectations. Seasonally and calendar-adjusted gross domestic product (GDP) rose by 0.6 percent on the quarter, the Federal Statistics Office said on Tuesday. This was slightly weaker than the consensus forecast of 0.7 percent in a Reuters poll. But the growth rate for the first quarter was revised up to 0.7 percent from 0.6 percent, and the April-June expansion marked a 12th consecutive quarter of growth. "The German economy is proving its staying power, the upswing continues," Bankhaus Lampe economist Alexander Krueger said, adding that the European Central Bank's low interest rates were boosting the economy. The Statistics Office said that growth in the April-June period was mainly driven by domestic demand as households and state authorities increased their spending and companies boosted investment in buildings and equipment.

Source: Reuters

America

Sales at U.S. retailers surged in July to the highest level of 2017, aided by strong demand for new autos and Amazon’s Prime Day shopping specials. Sales at retailers nationwide jumped 0.6% last month, the government said. A mysterious decline in spending at the end of the second quarter, meanwhile, vanished after fresh government revisions based on newly incorporated sales data. Retail sales actually rose 0.3% in June instead of falling 0.2% and sales in May were flat. The retail report can be quite volatile and subject to large revisions. The latest report on retail sales shows households still had plenty of buying power as the third quarter got under way in July. Consumer spending is by far the largest source of U.S. economic activity. Steady hiring, the lowest unemployment rate in 16 years and gently rising incomes have all buoyed spending in 2017, keeping the economy on a modest growth path more than eight years after an expansion took hold. Sales in July were the highest since December. Americans increased spending last month on most goods except for clothes and gasoline.

Source: Market Watch

Asia

Saudi Arabia and Iraq plan to open the Arar border crossing for trade for the first time since 1990, when it was closed after the countries cut ties following Saddam Hussein's invasion of Kuwait, Saudi local media reported on Tuesday. Saudi and Iraqi officials toured the site on Monday and spoke with Iraqi religious pilgrims, who for the past 27 years had access to the crossing only once annually during the haj season. The governor of Iraq's southwestern Anbar province, whose staff was on hand for the ceremonies, said the Iraqi government had deployed troops to protect the desert route leading to Arar and called its opening a "significant move" to boost ties. "This is a great start for further future cooperation between Iraq and Saudia Arabia," said Sohaib al-Rawi. The announcement follows a decision by the Saudi cabinet on Monday to establish a joint trade commission with Iraq. Saudi Arabia and the United Arab Emirates are both wooing their northern neighbor in an effort to halt the growing regional influence of arch-foe Iran.

Source: Reuters

 
Indexes of Stock Exchanges
16.08.2017
Dow Jones Industrial
21 998.99 (5.28)
Nasdaq Composite
6 333.01 (-7.22)
Commodity exchanges
16.08.2017
  Commodity Price  
Light crude ($US/bbl.)47.77
Heating oil ($US/gal.)1.6100
Natural gas ($US/mmbtu)2.9200
Unleaded gas ($US/gal.)1.5900
Gold ($US/Troy Oz.)1 278.70
Silver ($US/Troy Oz.)16.68
Platinum ($US/Troy Oz.)968.60
Hogs (cents/lb.)70.22
Live cattle (cents/lb.)1.09

       Discover Bulgaria

Varna - the sea capital of Bulgaria

The earliest data about Bulgaria’s sea capital – Varna, date back to 6th century BC, as the town was mentioned with its old name – Odessos (settlement situated on water). Varna is located in Northeastern Bulgaria and is the country's third biggest city. The name Odessos is not of Greek origin, which makes scientists believe that probably the settlement existed even earlier. After the Byzantine Empire conquered the Bulgarian territory, a town called Varna rose here. In 1201 Tsar Kaloyan fought back the town for Bulgaria, and Varna started its significant economic growth, favoured by the town’s geographical position. After 1878 the town developed rapidly. Today, besides important industrial, commercial and cultural centre, Varna is also one of Bulgaria’s most beautiful cities. In 1888 the construction of the city’s pride – the Sea Garden, started, and it was completed in 1912. Thousands of tourists visit Varna each year, attracted by the beaches, the Planetarium and the Dolphinarium, by the city's unique atmosphere and the night life.


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