Business

Friday, 17 September 2021

Alongside New Movenpick Split Hotel, More Projects in Works

September the 17th, 2021 - We recently reported on yet another hotel coming to the Dalmatian port city of Split, the Movenpick Split hotel, but that isn't the only thing the company responsible for that has up its sleeve for the Adriatic and the rest of the Mediterranean. As Poslovni Dnevnik/Marija Crnjak writes, recent news that the first Movenpick Hotel in Croatia is opening in the second largest city of Split, which is one of the premium brands of the global hotel house Accor, presented a relatively new investor, the development company MPPD, which has great ambitions to develop projects throughout…
Thursday, 16 September 2021

Croatia to Ink Memo of Understanding With Amazon

ZAGREB, 16 Sept 2021 - The Croatian government on Thursday gave consent to the signing of a memorandum of understanding between Croatia and the Amazon Web Services (AWS). As the lead cloud computing platform, Amazon Web Services (AWS) provides servers, storage, networking, remote computing, email, mobile development, and security. Bernard Gršić, the state secretary of the Central State Office for Digital Society Development, told the government that the AWS offered more than 200 full services. AWS has expressed its wish to cooperate with the Croatian government in the field of digital transformation and also to ink the memorandum of understanding, a…
Thursday, 16 September 2021

A220 Aircraft is One Option for Croatia Airlines Fleet Renewal

September the 16th, 2021 - The A220 aicraft is one potential option for the Croatia Airlines fleet's renewal as the company which has struggled to find a strategic partner and be more competitive for years plans its next business moves. As Poslovni Dnevnik/Darko Bicak writes, the A220, as various Airbus experts have said, covers a segment of 100 to 150 seats and is designed to meet the current global market demands for smaller aircraft in the skies. The European aviation consortium Airbus presented the A220-300 aircraft in the City of Zagreb recently, emphasising that it is ideal for the post-covid…
Wednesday, 15 September 2021

INA Considering HRK 2 bn Bond Issue

ZAGREB, 15 Sept, 2021 - The INA oil company said on Wednesday it was considering issuing bonds on the domestic capital market in the nominal amount of HRK 2 billion maximum, with one-off principal maturity after five years maximum. The Board today decided to issue the bonds and list them on the Zagreb Stock Exchange. The issuing and the listing will be done provided that all regulatory permits are obtained in line with regulations and subject to acceptable market conditions. INA hired Erste & Steiermärkische Bank, Privredna Banka Zagreb and Raiffeisenbank Austria as the issue agent. For more about business in Croatia, follow TCN's dedicated page.
Wednesday, 15 September 2021

Zagreb Stock Exchange Indices Drop Slightly

ZAGREB, 15 Sept, 2021 - The main Zagreb Stock Exchange indices fell mildly on Wednesday amid a modest turnover. The Crobex weakened by 0.12% to 1,969 points while the Crobex10 dropped by 0.10% to 1,203 points. The transport sector index fell the most among sector indices (-1.86%) while the construction index registered the highest increase (+0.18%). Regular turnover amounted to a mere HRK 4.9 million or about 3.7 million less than the day before. The only stock to cross the million kuna mark was the HT telecommunications company generating a turnover of HRK 1.45 million. The prices of HT shares dropped by…
Wednesday, 15 September 2021

Croatia Among EU States With Biggest Industrial Output Drops in July Month-Over-Month

ZAGREB, 15 Sept, 2021 - Europe's industrial production recovered in July 2021 but Croatia was among the EU countries with the largest monthly decreases, an Eurostat report showed on Wednesday. In July 2021, the seasonally adjusted industrial production rose by 1.5% in the euro area and by 1.4% in the EU, compared with June 2021, when industrial production fell by 0.1% in the euro area and remained stable in the EU. In the euro area in July 2021, compared with June 2021, production of non-durable consumer goods rose by 3.5%, while in the EU it rose by 2.8%. Capital goods went…
Tuesday, 14 September 2021

Zagreb Stock Exchange Indices Rise; Focus on Podravka, Adris Shares

ZAGREB, 14 Sept, 2021 - The main Zagreb Stock Exchange (ZSE) indices went up on Tuesday, the Crobex by 0.15% to 1,971 points and the Crobex10 by 0.16% to 1,204 points, with regular turnover reaching HRK 8.6 million. The most traded stock was the Podravka food company, turning over a little more than HRK 3 million. It closed at HRK 596 per share, down 0.33%. The ordinary share of the Adris tourism and insurance group turned over HRK 2.7 million, closing at HRK 470 (+2.17%), while its preferred share turned over HRK 1.09 million, closing at HRK 417 (+0.48%). Thirty-six…
Tuesday, 14 September 2021

IMF Predicts Croatian Economic Growth of 5.4 in 2021

September the 14th, 2021 - While the International Monetary Fund (IMF) predictions for Croatian economic growth in 2021 are optimistic, it's worth noting that Croatia had no only the coronavirus pandemic to deal with, but two devastating earthquakes, too. Both lead to a drop in economic activity of eight percent last year. As Poslovni Dnevnik writes, the Croatian economy has been exposed to enormous levels of stress caused by numerous factors over the past eighteen or so months, but it is showing resilience and its strong recovery is predicted for both this and next year, with GDP growth of 5.4…
Monday, 13 September 2021

Switching to Euro Will Help Croatia Enjoy Better Credit Rating

ZAGREB, 13 Sept 2021 - Finance Minister Zdravko Marić said on Monday that the introduction of the euro as the sole legal tender would impact Croatia's credit rating, and quoted the Fitch agency's presumption that the country's admission to the euro area would raise its credit rating by two notches. Addressing a meeting of the National Council for the introduction of the Euro as Official Currency in Croatia, which was also attended by the EC Vice President Valdis Dombrovskis, Minister Marić recalled that the 2020 COVID-19 pandemic triggered off a rise in the budget gap, and last year the general government deficit amounted to…
Monday, 13 September 2021

Businesses in Zagreb, Osijek and Varaždin Top Ranking Considering Net Profit

ZAGREB, 13 Sept 2021 - Enterprises from Zagreb, Osijek, and Varaždin top the ranking considering the 2020 consolidated net profit broken down by cities, shows an analysis of data provided by the Financial Agency (FINA). The remaining seven cities that make the top ten list in this survey are Karlovac, Sveta Nedelja, Rijeka, Čakovec, Solin, Vukovar, and Kutina. Businesses in the top 10 cities make up 4/5 of total net profit of all businesses in Croatia The consolidated net profit of the businesses registered in all those ten cities in 2020 was HRK 16.6 billion, and the consolidated net profit of…
Monday, 13 September 2021

87 Million Kuna Renovation of Podravka Office Building on Cards

September the 13th, 2021 - An 87 million kuna renovation for the Podravka office building is set to take place, with a company from the continental Croatian town of Krizevci being ''the chosen ones'' for the job. As Novac/Vedran Marjanovic writes, Podravka's Supervisory Board approved the Management Board's decision to invest a massive 87.7 million kuna in the renovation of the company's office building, and to conclude a contract with the construction company Radnik (Worker) from Krizevci for the job, the much loved Koprivnica-based company announced yesterday. The renovation of the Podravka office building includes IT and energy reconstruction, as…
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