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Business Industry Capital
ISSN 1311-364X
Monday, 23 July 2018, Issue 4756
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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 Bulgarian issue

BNB Exchange Rates
  EUR   1.95583  
GBP   2.18663
USD   1.67595
CHF   1.68128
EUR/USD   1.1670*
ECB exchange rate
Basic Interest Rate
  as of 01.07   0 %  

Bulgarian Stock Exchange - 20.07.2018
  Total turnover (BGN): 219 858.82  
Traded companies: 35
Premium 96 920.06
Standard 55 435.69
REIT 66 045.97
Structured 117.39
Bonds 1 339.70
Biggest change
Fazerles JSC - Silistra 8.80 %
Holding Varna (PF) JSC - Varna -2.70 %
BaSE - Shares: 10 339.91

Manufacture of other textiles n.e.c.
BEIS rating
Top 10 companies by
Net sales
for 2016
(thous. BGN)
  1   Didis LTD - Shoumen   31 815  
  2   Nyamuno Banga LTD - Topoli   11 730  
  3   Gloria 2001 LTD - Plovdiv   9 046  
  4   Nash Felts Bulgaria SPLTD - Stryama   8 231  
  5   Aliana LTD - Haskovo   5 824  
  6   Hiltsinger-Polirni tehnologii LTD - Lyaskovetz   5 805  
  7   Iskra LTD - Parvomai   2 553  
  8   Textile Trade LTD - Sofia   2 115  
  9   Signal SPLTD - Gabrovo   1 796  
  10   Global LTD - Haskovo   1 791  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Asansyorni montazhi JSC - Sofia
Binder JSC - Sliven
Elenitsa K JSC - Kotel
Kaliakra JSC - Sofia
Mesembria JSC - Bourgas
Real Estate Deals SPJSC - Sofia
Remontstroy JSC - Bourgas
Spectar JSC - Sofia
Uspeh JSC - Sofia
Vitosha Manage JSC - Sofia
Forthcoming General Meetings

Financial news

Bulgaria continues to rank third in the European Union (EU) with the lowest ratio of government debt to gross domestic product (GDP) in the first quarter of 2018, European Statistical Office Eurostat data show. For the period January-March the ratio of Bulgaria's government debt to GDP reached 24.1% compared to 25.4% in the last quarter of 2017. In the same period last year, the ratio was even higher - 28.2%. Debt is also declining on a quarterly basis and on an annual basis to BGN 24.1 billion in the first quarter. This is by BGN 964 million less compared to the last three months of last year, but by BGN 2.6 billion less compared to the January-March period of 2017 The countries with the lowest debt-to-GDP ratio for the first quarter of the year continue to be Estonia (8.7%) and Luxembourg (22.2%).

Source: Bloomberg

Bulgarian Customs Agency collected revenues from excise duties, VAT on imports, duties and fines amounting to BGN 4.6 billion in the first half of 2018, compared to BGN 4.3 billion in the same period a year earlier. The amount is up by BGN 250.9 million (5.8%) compared to the first half of 2017. Growth is reported for all types of tax revenues, with cash receipts from excise taxes increasing by 6.1% (BGN 138.6 million), VAT revenues by 4.7% (BGN 92.2 million) and customs duties registering a growth of 26.9% (BGN 25 million ). The significant increase in excise duty revenue for tobacco products leads to structural changes in the excise goods groups, their relative share being higher than that of fuels. BGN 103.4 million of the increase in the tobacco product group is formed from cigarette revenues, with the effect of increased excise duty (BGN 57.6 million) exceeding the effect of the increased excise rate (BGN 45.9 million). Significant growth (49.4%) shows the tobacco excise tax revenues, as it is due to the heated tobacco products subjected to a similar rate as the cut tobacco.



Changes in the requirements for cash registers are proposed by the National Revenue Agency. They will oblige all traders to update the software or change their fiscal devices next year. New rules are also provided for reporting cash receipts. The revenue agency closes an average of 2,000 sites per year for not issuing cash receipts. The greatest risk of hiding turnovers, according to the NRA, is in the drinking facilities. According to taxpayers, there is a risk of concealing turnover in cash payments in food, clothing, shoes, restaurants and night clubs. Potential annual damage of BGN 330 million is directly related to cash payments and violations in registering and accounting for sales of fiscal devices, explains Rosen Bachvarov, a spokesman for the revenue agency. Therefore, the Finance Ministry is proposing changes that are expected to enter into force in April next year.

Source: Dnevnik

The second largest city in Stara Zagora region – Kazanlak will establish an industrial economic zone. The first step was made on Friday with the signing of a Memorandum of Cooperation between Kazanlak and the National Company Industrial Zones EAD. The document was signed by the mayor of Kazanlak Galina Stoyanova and Antoaneta Bares, the director of National Company Industrial Zones. "Kazanlak is extremely suitable for investments because there are not only business traditions but also many good schools," said Antoaneta Bares, who reminded that for the investors, besides the infrastructure, the labor force is very important.

Source: Standart

The CNS-Sofia Ticketing System consortium was ranked first and was selected as a public procurement contractor for the construction of the public transit ticketing system in Sofia, which ended on July 20, 2018, the Center for Urban Mobility announced. The consortium has received 100 points for the listed items in the order and has announced the lowest price for execution - BGN 73,248,150 excluding VAT. The consortium unites the companies Computer Services OOD and Asis Elektronik ve Bilişim Sistemleri Anonym Shirketi and Tixi AD. The sub-contractor is Maxtel OOD. The ticket system will bring more comfort for the passengers as it will make possible the use of one transport document for the different types of transport, which will be able to be loaded by all kinds of mobile devices. Cameras will be installed in all vehicles, which will increase security, and the fight against violations will be more efficient.


Sofia-based freight forwarding company Gopet Trans said it has launched the first intermodal block train service linking Romania and Poland. The first train test was launched on July 11 and Gopet Trans currently operates a weekly service with about 30 train units between two of the largest markets in Central and Eastern Europe, the company said. Gopet Trans plans to increase the frequency to two trains per week, and the capacity to 40 units per train by the end of 2018. The route between the two countries covers approximately 1,000 km, crossing four borders, in 36 hours of transit time between the freight terminal in Romania's Oradea and Poland's Spedcont terminal near Lodz. As for the Balkans, customers can benefit from Gopet's existing block train running from Romania's Curtici to Bulgaria's Stara Zagora via Ruse, with further connection via road with own fleet making it easier to reach Sofia or Greece, the company said. Gopet Trans is active in road, intermodal, sea and logistics services.

Source: SeeNews

The construction of the new office building, which Bulgarian Real Estate Fund REIT plans to raise in Sofia Tech Park will cost EUR 33 million. So far, the company has invested in land purchase and design. The assessment is given in the prospectus for the increase of the capital of the public company that is currently running and which is key to the financing of the project. The building will have a total area of 35,000 square meters, which will make it one of the biggest in the market. Soon the first tenders for construction contractors are expected to be announced, with the investor's commitment to complete it up to 5 years. According to the information that is known so far, the building is in the final phase of design and is due to receive a construction visa. The preparation of the first auctions for the construction of the new building has begun.

Source: Capital

       Bulgarian Industrial Association




United States tariffs on imported cars would slash around EUR 6 billion off German economic output, the president of Germany’s DIHK Chambers of Commerce told German television on Friday. U.S. President Donald Trump’s administration came under fire on Thursday for considering tariffs of up to 25 percent on imported cars and parts, a levy that could raise vehicle costs, hurting auto sales and industry jobs. DIHK President Eric Schweitzer said on ZDF television that he took Trump’s threats “very seriously” and added such tariffs would be “against international law”. He said such levies would not only result in job losses in Germany and Europe but would also hit jobs and investment in the United States.

Source: Reuters


Senate Finance Committee Chairman Orrin Hatch is ratcheting up pressure on President Donald Trump to reconsider his tariff policies, warning in a letter that GOP senators may be ready to risk a legislative confrontation with the president unless he reverses course on trade. “As you are aware, members of the Senate are increasingly considering legislation to reduce trade authorities that Congress has delegated to the President,” the Utah Republican wrote in a letter obtained by The Wall Street Journal. “I am sympathetic to those efforts. If the administration continues forward with its overreliance on tariffs, I will work to advance legislation to curtail Presidential trade authority.” The letter, sent to the White House earlier this week, is notable because Mr. Hatch has been one of Mr. Trump’s most steadfast allies. He ushered through the Senate Mr. Trump’s signature legislative achievement—a $1.5 trillion, 10-year tax cut—and as a former Judiciary Committee chairman is now working to boost support for Supreme Court nominee Brett Kavanaugh.

Source: Wall Street Journal


Japan’s inflation picked up slightly in June, largely because of higher energy costs. There was little to suggest price gains will accelerate toward the 2 percent target anytime soon. Weakness in inflation has reduced speculation that the Bank of Japan may start tightening its ultra-loose monetary policy. While the BOJ’s yield-curve control program has allowed it to ease back the throttle on bond purchases, monetary policy is harming the profitability of commercial banks and distorting markets. Without rising energy prices, the picture would be bleaker for inflation. The next clues to the BOJ’s thinking come on July 31, when policy makers provide updated forecasts on prices and growth. Private economists and investors have questioned the BOJ’s assertion that inflation momentum has been maintained. "These latest June CPI numbers are going to be another heart breaker for the Bank of Japan,” Izumi Devalier, head of Japan economics at Bank of America Merrill Lynch, said. "In terms of actual changes to YCC, the 10-year target or of course the negative interest rates, I don’t think the Bank of Japan is anywhere close to signaling a policy move,” she said.

Source: Bloomberg

Indexes of Stock Exchanges
Dow Jones Industrial
25 058.12 (-6.38)
Nasdaq Composite
7 820.20 (-5.10)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)68.18
Heating oil ($US/gal.)2.1100
Natural gas ($US/mmbtu)2.7300
Unleaded gas ($US/gal.)2.0300
Gold ($US/Troy Oz.)1 232.50
Silver ($US/Troy Oz.)15.54
Platinum ($US/Troy Oz.)829.50
Hogs (cents/lb.)51.28
Live cattle (cents/lb.)110.25

       Discover Bulgaria

The Mogilanska Hill – town of Vratza

The hill represents a half-destroyed mound, which had been rising for a long time in the yard of one house in the old part of Vratza. The place was studied by archeologists over the period 1965-66, and they found a tomb, which they supposed had most probably been robbed in the ancient times. They found two other tombs as well, which were relatively preserved. Specialists discovered two human skeletons – one of an old man and one of a young woman, as well as many silver, bronze and golden vessels, different weapons and agricultural equipment. Obviously, it had been a rich funeral, which made archeologists believe an ancient Thracian princess had been buried here. The head of the young woman was decorated with a gold wreath, similar to laurel twigs, weighing 205 g and made of the purest gold. It was supplemented by a pair of massive golden ear-rings, decorated in their bottom part with figures of sphinx and plant ornaments. In the third grave, archeologists found one male and one female skeleton, as well as many golden and silver jugs, jewels, clay articles, etc. The rich findings in the Mogilanska Hill prove the general opinion, that this is a royal tomb, related to the tribal dynasty, which ruled in the IV century and inhabited the lands in the current Vratza region.

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