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Sat, Feb 11 2012
Bulgaria's business climate darkens again
Photo: Don Amaro/Wikimedia Commons
Bulgaria's business confidence index slumped for another consecutive month in October 2009, when the business climate index shed 1.3 percentage points from September, the National Statistics Institute (NSI) said.
The construction sector was most down in the dumps of all, the NSI said.
The mood dampened in all other sectors and the industrial sector was the only one to buck the trend. However, together with the construction and services sectors, it is bracing itself for job cuts.
In the industrial sector, the index edged up by 2.1 per cent from the previous month, mainly because of higher expectations about the shape of companies in the six months ahead. Businesses are also upbeat about production activity and exports in the next three months.
The uplift is underpinned also by bulkier order backlogs that in October could guarantee production for the next 4.1 months. Still, this is a staggering decrease on October 2008, when orders could guarantee production for almost six months.
Between July and October, average capacity workload was up by 0.9 points to nearly 65 per cent, the NSI said. Companies are not expecting any spikes of selling prices in the sector.
Fifty-seven per cent of industrial companies have faced an uphill struggle amidst the unstable economic environment in the past few years. This has been the biggest stumbling block for building companies as well and has plagued also services and retail firms.
The business climate index dipped 8.9 per cent in the construction sector compared with September, thanks to more pessimistic outlooks by entrepreneurs. Construction activity is flagging and a further decline is predicted in the next three months.
In the services sector, the index dropped by 1.4 points, extending a slowdown that followed a fragile recovery from March to July.
Companies cite the shaky economic environment as a tougher challenge than stiff competition and legislative problems.
Confidence in the retail sector has waned by a marginal 0.5 points as companies expect no radical changes in the next six months.
Source: Dnevnik.bg
The construction sector was most down in the dumps of all, the NSI said.
The mood dampened in all other sectors and the industrial sector was the only one to buck the trend. However, together with the construction and services sectors, it is bracing itself for job cuts.
In the industrial sector, the index edged up by 2.1 per cent from the previous month, mainly because of higher expectations about the shape of companies in the six months ahead. Businesses are also upbeat about production activity and exports in the next three months.
The uplift is underpinned also by bulkier order backlogs that in October could guarantee production for the next 4.1 months. Still, this is a staggering decrease on October 2008, when orders could guarantee production for almost six months.
Between July and October, average capacity workload was up by 0.9 points to nearly 65 per cent, the NSI said. Companies are not expecting any spikes of selling prices in the sector.
Fifty-seven per cent of industrial companies have faced an uphill struggle amidst the unstable economic environment in the past few years. This has been the biggest stumbling block for building companies as well and has plagued also services and retail firms.
The business climate index dipped 8.9 per cent in the construction sector compared with September, thanks to more pessimistic outlooks by entrepreneurs. Construction activity is flagging and a further decline is predicted in the next three months.
In the services sector, the index dropped by 1.4 points, extending a slowdown that followed a fragile recovery from March to July.
Companies cite the shaky economic environment as a tougher challenge than stiff competition and legislative problems.
Confidence in the retail sector has waned by a marginal 0.5 points as companies expect no radical changes in the next six months.
Source: Dnevnik.bg
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British Council
Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.
CEZ
Stefan Apostolov is the new chief executive of CEZ Razpredelenie Bulgaria, the power transmission subsidiary of Czech energy company CEZ in the country. He replaces interim chief executive Ales Damm, who remains the chairperson of the CEZ Razpredelenie management board. Apostolov has 30 years of experience in the energy sector, joining CEZ in 2007 as director of customer service and was later appointed as head of business development. Apostolov has a master's degree in electric systems from the Belorussian National Technical University in Minsc, management diplomas from Open University London and New Bulgarian University, as well as a master's degree in business administration from Plovdiv University.
BASF Bulgaria
Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.
Rompetrol Bulgaria
Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.
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