Business

Sunday, 5 September 2021

Economy Minister Rules Out Lower VAT on Food This Year

ZAGREB, 5 Sept, 2021 - Economy Minister Tomislav Ćorić said on Sunday that the Value Added Tax (VAT) on food would not be lowered this year, considering the fact that the economy has just started to stablise since the 2020 crisis caused by the COVID-19 pandemic. "The reduction of the VAT rate cannot be implemented this year. We have just started to stabilise since the crisis in 2020. Such moves should be considered within medium-term perspectives, that is in one or two years," the minister said in his address to the press while attending his ministry's green campaign "#ZaZeleniSvakiDan" in downtown Zagreb.…
Sunday, 5 September 2021

EU Reg Forces Croatian Kudelic Butchers to Recall 10 Tonnes of Sausage

September the 5th, 2021 - The popular Croatian Kudelic butchers have recalled ten tonnes of sausage, while the Ministry of Agriculture did provide a reason as to why, it is yet to actually be clarified at all. As Poslovni Dnevnik writes, back in mid-August, the Ministry of Agriculture reported that the Croatian Kudelic butchers from Bedenica must withdraw dozens of its products from sale "due to the determined pesticide ethylene oxide in the additive used in the production of the spices used in the production of the meat products", but in reality, the circumstances surrounding the recall and withdrawal of…
Sunday, 5 September 2021

Vinkovci Employment Rate Encouraging, Potential for New Jobs High

September the 5th, 2021 - Vinkovci isn't a place that most people associate with economics in any way. Located in continental Croatia and further east than the City of Zagreb, many perhaps wrongly lump it in with other wrongly overlooked parts of the country which rarely get a mention in a positive economic light. That said, the Vinkovci employment rate is very encouraging, and entrepreneurs bringing job opportunities have their eye on the town. As Novac writes, according to the Central Bureau of Statistics (CBS), Vinkovci is the only city in all of Eastern Croatia that is among the ten…
Saturday, 4 September 2021

Corona Crisis Causes Losses to Cattle Farmers, Milk Producers – Večernji List

ZAGREB, 4 Sept, 2021 - Cattle farmers lose HRK 4.75  per kilo per head due to the corona crisis, the Zagreb-based Večernji List (VL) reported on Saturday. Findings of a study, conducted by Osijek researchers Krunoslav Zmaić and David Kranjac, show that the corona crisis has caused disruption on the market. Before the start of the COVID-19 pandemic, fodder made up about 50% of the material costs in businesses led by cattle farmers. However, cereals and oil crops' price hikes have raised this percentage to 80%. The average price of soybean skyrocketed 50.49% this year in comparison to their five-year average, and…
Saturday, 4 September 2021

1100 Croatian Hospitality and Catering Establishments Stopped Working This Season

September the 4th, 2021 - While it's true that many individual Croatian hospitality and catering establishments such as coffee bars and other cafes finally did well and managed to make some decent money this season, as many as 1100 of them were forced to stop working. As Novac/Jozo Vrdoljak writes, after many Croatian hospitality and catering establishments were forced to shut their doors on November the 30th last year, a breath of fresh air came in the form of the news that as of September the 1st, with special epidemiological measures, they were able to receive guests again in the closed-off…
Saturday, 4 September 2021

OVI Index Provides Strong Signals of Croatian Economic Revival

September the 4th, 2021 - The coronavirus pandemic hit the Croatian economy, which relies very heavily on tourism, like a tonne of bricks. While things have been far from easy over the last eighteen or so months, the OVI Index (Online Vacancy Index) provides strong hope for Croatian economic revival. As Poslovni Dnevnik/Marija Crnjak writes, demand for labour in the Republic of Croatia exceeded the levels of 2020 and 2019 according to the OVI index, which, for the month of August 2021, shows that the demand for labour in the country is 60 percent higher than it was back in…
Friday, 3 September 2021

Croatian Amazon Offices Being Opened, Employment Going Ahead

September the 3rd, 2021 - Croatian Amazon offices are being opened and employment is promised to those with experience in the field as the company expands its cloud services in Croatia. As Poslovni Dnevnik writes, although this company is best known in Croatia as an Internet retailer, and the largest in the world, in the IT industry it is much better known for its cloud services. More or less all digital services today, from Netflix, Spotify, Gmail and Outlook to the e-Citizens (e-Gradjani) platform, are located in the cloud, ie on particularly strong computers, so-called servers, located in special buildings…
Thursday, 2 September 2021

Recovery of Demand Leads to Increase in European Industrial Producer Prices in July

ZAGREB, 2 Sept 2021 - Industrial producer prices in Europe increased in July at the highest rate since statistics have been kept by Eurostat, reflecting the recovery of demand as COVID-19 restrictions were eased, the EU's statistical office reported on Thursday. In July 2021, industrial producer prices rose by 2.3% in the euro area and by 2.2% in the EU, compared with June 2021, the strongest increase in the past twenty years. In June prices increased by 1.5% in the EU and by 1.4% in the euro area. The accelerated increase in industrial producer prices reflects strong demand and frequent problems…
Thursday, 2 September 2021

Cattle Farming Sector's Reps Inform PM, Minister of Their Problems

ZAGREB, 2 Sept 2021 - The cattle farming sector is among the sectors worst hit by the corona crisis, and budget support to cattle farmers was one of the topics on the agenda of Thursday's meeting between Prime Minister Andrej Plenković, Agriculture Minister Marija Vučković and representatives of that sector. The meeting also discussed the continuation of negotiations with the European Commission on additional measures necessary for the regulation of the market. The talks focused on the rise of fodder prices in the last nine months, and Vučković said that this trend was triggered entirely by external circumstances and disruptions caused by…
Thursday, 2 September 2021

Mate Rimac: Croatia Has Become One Of Focal Points of Hypercar Industry

September the 2nd, 2021 - It's no secret that Croatian entrepreneur Mate Rimac has caused a storm in the demanding automotive world, attracting not only attention but investments from giants such as Porsche. He has now stated that Croatia, the little country without any car production to speak of, is becoming one of the focal points of hypercar production. As Poslovni Dnevnik writes, Livno-born entrepreneur Mate Rimac, the head of the Bugatti-Rimac company, announced the arrival of many of the most exclusive cars and their owners in Croatia this Friday via a video he released yesterday. This group of individuals…
Thursday, 2 September 2021

Osijek Software Company Mono Has Best Financial Rating

September the 2nd, 2021 - The Osijek software company Mono isn't a new player on the ever blossoming ''field'' of Croatian software developers and companies, in fact it has been a market leader in the field of eCTD software for some time now. As Poslovni Dnevnik/Suzana Varosanec writes, for years, the Osijek software company Mono has been one of the market leaders in the field of eCTD software, a standard used in the pharmaceutical industry when submitting information to regulatory agencies. Back in pandemic dominated 2020, they still excelled, managing to generate a massive 39.6 million kuna in revenue, while…
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