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Fri, May 25 2012
Bulgaria’s business climate worsens in July, for third straight month
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In July 2009, the total business climate indicator decreased by 1.2 percentage points from June with industry and retail trade as the aggravating factors, the National Statistical Institute (NSI) said on July 28 2009, Bulgarian news agency BTA said.
Variations in the positive direction of the business climate indicators were registered in the construction and services sectors in July.
The month saw the composite business climate indicator in industry decrease by 4.3 percentage points from June, reaching an all-time nadir after an already worsening trend.
The decrease was due both to lowered managers' evaluations of the present business situation and to more pessimistic expectations about the next six months.
The July business climate poll found decreased production activity of industrial enterprises, but the rate of decrease was lower than in the previous months.
The order book of industrial enterprises (measured in number of months) dropped from 5.0 in April to 4.4 months in July.
In 2008 the average order book was 5.9 months long. The average capacity utilization in industry continued to decrease, reaching 63.9 per cent in July. Its 2008 average was 74.9 per cent.
Dnevnik said that managers in all four sectors were preparing to cut more staff in coming months.
The industrial sector is suffered the severest pressure, seeing its business climate index tumbled by 4.3 per cent month-on-month to a seven-year low at 11 per cent. The outlook for the next half is as downbeat.
Retail companies also consider the environment has deteriorated from a month before, dragging the index by 1.5 points as sales slipped deeper, spelling more trouble in the coming months, Dnevnik reported.
Expectations that it had finally hit the bottom gave rise to a 2.4 point increase in the construction indicator. But while optimists in July outnumbered those in June, the NSI registered a drop in orders combined with an increase in delayed payments from customers.
The services sector indicator also reflected upbeat expectations, going up by 1.6 points from June on the back of relatively better assessment of the current business environment, Dnevnik reported the NSI as saying.
Assessment for demand in the past three months was also positive but the six-year outlook is negative.
Variations in the positive direction of the business climate indicators were registered in the construction and services sectors in July.
The month saw the composite business climate indicator in industry decrease by 4.3 percentage points from June, reaching an all-time nadir after an already worsening trend.
The decrease was due both to lowered managers' evaluations of the present business situation and to more pessimistic expectations about the next six months.
The July business climate poll found decreased production activity of industrial enterprises, but the rate of decrease was lower than in the previous months.
The order book of industrial enterprises (measured in number of months) dropped from 5.0 in April to 4.4 months in July.
In 2008 the average order book was 5.9 months long. The average capacity utilization in industry continued to decrease, reaching 63.9 per cent in July. Its 2008 average was 74.9 per cent.
Dnevnik said that managers in all four sectors were preparing to cut more staff in coming months.
The industrial sector is suffered the severest pressure, seeing its business climate index tumbled by 4.3 per cent month-on-month to a seven-year low at 11 per cent. The outlook for the next half is as downbeat.
Retail companies also consider the environment has deteriorated from a month before, dragging the index by 1.5 points as sales slipped deeper, spelling more trouble in the coming months, Dnevnik reported.
Expectations that it had finally hit the bottom gave rise to a 2.4 point increase in the construction indicator. But while optimists in July outnumbered those in June, the NSI registered a drop in orders combined with an increase in delayed payments from customers.
The services sector indicator also reflected upbeat expectations, going up by 1.6 points from June on the back of relatively better assessment of the current business environment, Dnevnik reported the NSI as saying.
Assessment for demand in the past three months was also positive but the six-year outlook is negative.
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Retail trade falls in euro zone, EU
Romania, Latvia and Lithuania among countries with the largest decreases on an annual basis.
Bulgaria's business climate index drops in September 2009
Bulgaria's general business environment index dropped by 0.4 points in September 2009 against August, reaching its lowest rate (8.6 per cent) ever since the beginning of the downturn in October 2008, the National Statistical Institute said.
Bulgarian construction market shrinks further, agency says
On face of current trends, the industry could see an annual drop of 25 per cent in the number of new construction projects in 2009 compared to the year before, estimates from Arco Real Estate show.
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Business urges financial stability, reforms, good business climate, while economists say that swift formation of a new government and an agreement with the IMF will send a very good message to investors in Bulgaria.
Business climate declines again in March
Indicator for euro area hits lowest level since January 1985, while economic sentiment indicator for EU and euro area also declines but at slower pace
Bulgaria drops 11 spots in Forbes' business climate list
Bulgaria ranked 55th out of 127 countries, lower than most of its regional rivals and bottom among the 27 European Union member states
Eurozone business climate worsens to new low
General decline in confidence in almost all sectors in the EU and the eurozone, new statistics show
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Appointments
Employment Agency
Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.
Uniqa
Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.
Beiersdorf
Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.
Kamenitza
Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.
Hewlett-Packard
Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.
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