DGKV is Top Ranked in Chambers Global 2023

We are proud to announce that Chambers and Partners Global Guide 2023 has again recognised Djingov, Gouginski, Kyutchukov and Velichkov Law Firm as leading law firm in Bulgaria, retaining top band positions in both categories researched in Bulgaria – Commercial/Corporate (Band 1) and Dispute Resolution (Band 2). 

This remarkable consecutive acknowledgement comes as a recognition for the competence, professionalism and exquisite credentials earned for more than 29 years of advising domestic and international clients. DGKV’s ranked lawyers are Zdravka Ugrinova in Corporate/Commercial and Angel Ganev in Dispute Resolution.

Based on analysis and client feedback appraising our outstanding team, the ranking individually recognises the professional achievements of two partners at Djingov, Gouginski, Kyutchukov and Velichkov Law Firm:

Zdravka Ugrinova (Band 1) is a market-leading lawyer assisting private equity houses and corporate clients with acquisitions across a variety of sectors, including retail and manufacturing. She also offers notable expertise in advising the Bulgarian subsidiaries of multinational companies on various legal matters.

“Zdravka Ugrinova is the leading lawyer in the firm”, a source says.

Representative clients’ feedback: “They have been helping us with the sale of a company in Bulgaria. The law firm simplified it and navigated the whole process by itself.”

Angel Ganev (Band 2) represents clients in disputes relating to cyber fraud, insolvency proceedings and commercial conflicts. He is also adept in handling international arbitration matters and proceedings. 

“He is extraordinarily strong in court representation. He has very good oral skills and a reaction to the situations arising there, especially in cross-examination of experts.”

 “Angel Ganev is action-oriented,” a source says.

Other representative clients’ feedback: 

“They spend time with us to understand how our business functions.”

“The lawyers of the firm are very efficient in handling complex issues.”

Reacting to news of a proposed agreement on the Northern Ireland Protocol, William Bain, Head of Trade Policy at the BCC, said:  

“The BCC has long been calling for a negotiated solution to the trading difficulties caused by the initial version of the protocol. Businesses in both Northern Ireland and Great Britain have been calling for a considerable reduction in checks and documentary requirements to move everyday goods across the Irish Sea. We will be closely considering the legal texts and their full implications, but this appears to be a positive step toward achieving this goal. The Green Lane proposal should offer a green light to future prosperity in Northern Ireland. But more broadly businesses in the UK will welcome the potential for stabilising relations with the EU. There is now the potential to move to a new phase of co-operation on trade, regulation, climate, migration and supply chain issues. With the UK economy teetering on the cusp of a recession this could help drive growth for both Northern Ireland and the UK more widely. We hope the UK Government, EU member state governments, and the EU institutions will seize this opportunity to improve our relationships, cut costs and remove red tape for exporting businesses.” 

Mrs. Petia Dimitrova, CEO and Chairperson of the Management Board of Postbank, has been elected a Chairperson of the Board of Directors of the Hellenic Business Council in Bulgaria. The high acknowledgment comes after the last few years Mrs. Dimitrova has been a deputy member of the Board of Directors of HBCB. 

 „Allow me to express my gratitude to the members of the Board of Directors for the high confidence they have shown me with this election. I accept the chairmanship as a recognition of the uncompromising standards I impose in my work, but at the same time as a long-term commitment to the Hellenic Business Council’s vision and goals for development, and to each of its members. I promise that I will continue the vigorous activity of the organization to stimulate the fruitful dialogue between institutions and businesses, for the successful implementation of the best trade and business practices, so that we continue to contribute to the stable economic development in our country and to the maintenance of good relations with our partners“, those were the words Mrs. Petia Dimitrova addressed the attendees. 

Hellenic Business Council in Bulgaria is one of the most important business organizations in the country with hundreds of members of leading Bulgarian companies as well as all country representatives of Greek and Cypriot businesses.  

The chairmanship of Mrs. Dimitrova is not only a recognition of the uncompromising standards she imposes in her work but also a great honor for Postbank as a trusted and reliable business partner. It took place just a few days after Postbank was distinguished as a Top Employer in Bulgaria with a certificate from the international independent Top Employers Institute. The award is given for its innovative vision and high standards in implementing globally recognized employer practices in human resource management, care for people, working conditions, employee personal and professional development programs, among others.

BBBA Member Prof. Assen Asenov – Lecturer at James Watt College, University of Glasgow and one of the pioneers in computer-aided design technologies in development gave an interview for BloombergTV Bulgaria.

The main problem in the microelectronics world is the shortage of manpower. It is important for Bulgaria to find a position that is not only in support of Bulgarian microelectronics, but also to be visible in Europe. Bulgaria can become a hub for microelectronics training not only for Bulgarian companies, but for the whole of Europe. We have great conditions for this – the Bulgarian Academy of Sciences, higher education institutions, companies. 

According to Asenov, creating specialists is a slow process that takes seven to ten years. “For this reason, there is also a need for the private sector to get involved very quickly with courses that will allow people to be retrained in the first instance,” he noted.

“The idea is to create a hub, which is a brokerage organisation between all those in the country who could provide courses, programmes, laboratories to train people in microelectronics.”

According to the guest, there is currently interest from big companies who want to participate in the training process and there is interest from higher education institutions as well.

“The issue is to find the right funding. There are appropriate funds available. The important thing is to get started.”

Asenov also commented on the semiconductor situation globally. He pointed out that the chip surplus that became a reality at the end of 2022 is not in all sectors.

“There is no drop in the needs for electronics and chips for the automotive industry. The decline is in the most advanced technologies.”

According to the guest, even the segments whose products go into cars and white goods are not getting enough attention from the big companies and there is still a shortage there.

According to Asenov, the war between the US and China on chips will be complex and very difficult.

“The current investments are just a small start. China has invested trillions of dollars in microelectronics and America and Europe are creating barriers only makes them more enthusiastic to invest more.”

He added that China can become the first economic power and usually the country in this role tries to dominate politics in the world and expand its influence.

You can watch the whole interview in Bulgarian here.

The BCC is calling on the Chancellor to use his Spring Budget to relieve cost and recruitment pressures on business. It follows the release of new research which reveals how low business confidence has fallen at the start of 2023. 

Among the findings from the survey, of more than 1,000 firms, are:  

• Two thirds of businesses (65%) plan to raise prices due to cost pressures 
• Almost half (47%) say paying energy bills will be difficult when the current business support package ends 
  
• More than half (52%) are consistently experiencing difficulties recruiting staff 
  
• Concerns around regulation and taxation are regularly troubling a third of firms (30%) 

The survey backs up findings from the BCC’s most recent Quarterly Economic Survey of more than 5,000 companies which found business confidence remains at Covid-crisis levels. 

It found that only one in three (34%) businesses believed their profits will increase over the coming year, and more (36%) expected a decline.   While a quarter of firms reported a decrease in sales in the last quarter of 2022, with hospitality firms the least likely to report improvements.   

Commenting on the findings, Shevaun Haviland, Director General of the BCC, said: 

“This snapshot of the state of play for business at the start of 2023 sets out exactly why the Chancellor must act in his budget to fuel investment in the UK.  We know we have a tough year ahead. With costs piling up on their doorsteps and so much uncertainty on Government policies, there is currently little incentive for firms to risk either their dwindling cash reserves or fresh loans on new projects. Firms know that the UK’s finances are tight, but the Chancellor needs to show more faith in the ability and talent of our businesses. If they can see the Government is prepared to invest in them, by taking action on childcare, energy costs, green funding and Solvency II, then the future could soon look a lot rosier and greener.” 

The BCC has set out four key areas where the Chancellor must act in the budget if businesses are to make headway in bolstering the economy in 2023. 

These are: 

 • Unlocking talent and easing pressure in the labour market by making childcare more affordable for cash-strapped parents and guardians    

• Boosting the UK’s start-ups by further reforming the business rates system to remove the upfront financial squeeze they face    

 • Setting a framework for Solvency II investment that helps direct funds to SMEs where they can have the most impact, leveraging the opportunities of green innovation  

 • Funding to help businesses become greener and more energy efficient  

The BCC’s four non-negotiables form part of its wider budget submission to the Treasury. It contains a list of 24 recommendations for the Chancellor that could create the conditions businesses need to power the UK’s economic recovery. 

Accedia has been selected for The 2023 Global Outsourcing 100 list produced by IAOP, in the Leader Judging Size category. 

“In a year when service providers and advisors navigated new — or more intensified — challenges and disruption, the 2023 Global Outsourcing 100® demonstrated that they could and did rise to the occasion,” said IAOP’s CEO, Debi Hamill. “We are especially proud of these organizations that strived to excel, innovate and pave the way in unprecedented times. Congratulations, Accedia on being included among the very best in the world.”

The awards recognize the best outsourcing service providers and advisors in the world. It uses a rigorous scoring methodology based on four areas: Customer References, Awards and Certifications, Programs for Innovation, and Corporate Social Responsibility. An Independent panel of IAOP customer members with experience in selecting IT service providers for their businesses evaluated different types of submitted evidentiary support. These included case studies and testimonials from Accedia’s top three customers, organizational certifications in different technology areas such as Microsoft Gold Security Competence, AWS Service Delivery Recognition, and innovation programs such as IDC. The awards also referenced to CSR outcomes addressing topics such as labor practices, human rights, community involvement, and development, etc. 

“I am honored that Accedia has been included in IAOP’s Global Outsourcing 100 list for 2023. This recognition reflects our unwavering dedication to providing exceptional software engineering and consultancy services and reaffirms our position as a trusted technology partner for organizations worldwide.” – Dimitar Dimitrov, Managing Partner at Accedia.

About IAOP

IAOP is a global sourcing community that fosters collaboration to drive exceptional business and societal outcomes. Through IAOP conferences, chapter meetings, training and certification programs, and social media, members and affiliates worldwide can connect, learn, and grow together with the goal of achieving better business results. 

About The Global Outsourcing 100 

Now in its seventeenth year, The Global Outsourcing 100 is an annual ranking of the world’s premier outsourcing service providers. The list and its subcategories are indispensable resource for businesses seeking to establish or expand relationships with the industry’s top performers. The rankings encompass companies from around the globe that offer a full range of outsourcing services, including information technology, business processes, facilities, real estate and asset management, logistics, manufacturing, design, and testing. The lists recognize both established leaders and promising up-and-comers. Outsourcing companies of any size and type, from anywhere in the world, are eligible to apply for inclusion on these prestigious lists.

City Week 2023 will be held in-person at the Guildhall, London, and also streamed live on media channels, over three days between 24-26 April 2023. 

As in previous years, CW2023 is being organised in partnership with the UK Government, the City of London Corporation, TheCityUK, UK Finance and leading City institutions.

Widely regarded as the premier gathering of the international financial services community, the programme reflects the boardroom agenda of leading financial institutions from across the world. City Week 2023 comprises three (separately bookable) days:

• Day 1: The Climate Change, Green Finance and Sustainability Summit

• Day 2: The Institutional Adoption and Regulation of Digital Assets Summit

• Day 3: The Digitalisation and Innovation in the Capital Markets Summit

Like previous editions, this year’s forum will feature many well-known names from the global financial services industry, the world of politics and the international regulatory community.

To view the agenda and list of confirmed speakers for CW2023, please visit the website here.

Delegate Fees (UK-based)

1 Day Package – £595 + VAT

2 Day Package – £995 + VAT

3 Day Package – £1195 + VAT

British Bulgarian Business Association members are able to obtain a 20% discount off the above fees!

Registration

Website: https://www.cityweekuk.com/city-week-2023/bbba-discount

Email: bookings@cityandfinancial.com 

Quote/use the following code to obtain your 20% discount: CITY14BBBA

C-Suit and based outside the UK?

We have a limited number of complimentary places available for C-suite members of the international financial services community (who are domiciled outside of the UK). If you are C-suite level and wish to apply for one these places please email cityweekuk@cityandfinancial.com.

Please include your name, job title, organisation and country of residence.

Dear members, our partners from Bulgaria Wants You are organizing a large-scale forum in London on 02.04. at the Royal Geographical Society, where the thematic event from the series “Career and Life – Why in Bulgaria” will take place. The organisers are targeting Bulgarians in the UK with the aim of introducing them to different career opportunities. For this purpose, they invite companies from different sectors to present their activities in the exhibition area with their own branded stand or with the opportunity to directly recruit potential employees for their structures in Bulgaria. Bulgaria Wants You traditionally invites famous Bulgarians, successful and proven in their profession, to share their experience and motivate Bulgarians around the world that they can get successful development in their home country. The forum will be opened by Prince Kiril Saxcoburggotsky and Ambassador Marin Raykov, and the speakers are Hollywood actor Dimitar Marinov and football star Dimitar Berbatov. The organisers are also giving companies priority to position themselves with a speaker on a panel alongside them on stage. Our board member Genoveva Hristova will take part. If you wish to request a booth and additional services for visibility of your participation – Bulgaria Wants You makes 5% discount for our members. Places are limited and our Association has a quota of 5 positions. Sponsorship opportunities are also available. Check out the attached presentation with services and financial parameters.

Reacting to the ONS trade figures for December 2022, William Bain, Head of Trade Policy at the BCC, said:   

“UK exports were flat in December 2022 and fell across the final quarter of the year as a whole. Across 2022, export values rose by 6.7% (excluding inflation) but were still 3.1% lower than in 2018. The UK trade balances in goods and services fell sharply in 2022 by £85bn to £108bn, compared with the previous 12 months, but a major factor was the surge in fuel imports throughout the year due to the impact of the War in Ukraine on global energy supply. The increase in UK export values for the year is testament to the efforts of businesses and Chambers amid exceptional cost, energy and supply pressures. But we still have some way to go before we get back to where we were in 2018. Although trade in services was broadly flat in December, goods imports out-performed goods exports, which finished 2022 with a small decline in December. Of greater concern is the picture across the final three months where, on the current prices measure, UK exports fell by 4.5%, with declines in both EU and non-EU exports. The new Department for Business and Trade must be laser-focused on improving export performance over the coming months and we look forward to helping them do that. But the data for the last quarter shows the scale of the task ahead.The UK Government’s Export Strategy needs to fire on all cylinders this year to support SME exporters to grow their exports or sell goods and services to new markets for the first time.”   

Analysis of the data

Removing the effects of inflation, total UK goods exports fell by 0.3% in December 2022 (2.3% drop in export values before inflation effects are accounted for). An increase in exports to the EU of 4.9% (driven by higher machinery and transport equipment exports) was offset by a fall in rest of the world exports by 5.1%.  

There was a better story on goods imports with an increase (excluding inflation) of 1.5% in December 2022 (2.9% before removing effects of inflation). Rises were 3.8% for EU imports driven by rises in machinery, transport equipment and fuel imports, and 1.9% for imports from the rest of the world, predominantly due to soaring prices of gas imports from the US and Norway in December.   

In services, excluding inflation, imports rose by 0.3% while exports fell by 0.4% in December.  Across the final quarter of the year, on current prices, goods exports fell by 4.5%, at a higher rate than goods imports which fell by 2.1%. UK services exports fell by 1.5% over the same period, and services imports to the UK by 0.2%.  Overall, UK exports across the quarter fell by 2.9% on current prices.

We are delighted to introduce Dobri Stoev – our new Members & Partners Coordinator. 

He studied Public administration in New Bulgarian University in Sofia. He is coming mostly from sales experinece and always looking to make new connections. 

He is also a true football aficionado and always available to have a chat over a cup of coffee.

You can connect with him on LinkedIn here.