Business

Monday, 30 August 2021

Croatian Company Mi-Plast has 5 Billion Euro Service for Market

August the 30th, 2021 - The Croatian company Mi-Plast has a five billion euro solution for plastic waste up its sleeve which could save the a lot of time and money in the future. As Novac/Vedran Marjanovic writes, Jelena Miketa from the Croatian company Mi-Plast, based in Rijeka, says that she considers it to only be a matter of time before this type of technology comes to life throughout Europe and the rest of the world. This Rijeka company, with its close cooperation with Spanish partners, has developed a new technology for the decomposition of plastic - Ecometilal. Starting from…
Sunday, 29 August 2021

Unexpected Record Croatian GDP Jump in Second Quarter of 2021

August the 29th, 2021 - There has been a record and entirely unexpected (when looking at previous predictions from various sources) Croatian GDP jump in the second quarter of 2021, some are even daring to say that the Republic of Croatia is ''out of the recession'' the global coronavirus pandemic forced it into. As Poslovni Dnevnik/Ana Blaskovic writes, the Croatian economy grew 16.1 percent year-on-year in the second quarter of 2021, the Central Bureau of Statistics (CBS) said. Although the CBS points out that this is the first growth after four quarters of decline, it is also the largest since 2016,…
Sunday, 29 August 2021

Croatian Pharmaceutical Companies Increase Profit and Revenue in 2020

August the 29th, 2021 - Croatian pharmaceutical companies rather unsurprisingly did better than the vast majority of other sectors in pandemic-dominated 2020, raising their profit and revenue considerably. As Marina Klepo/Novac writes, out of 364 Croatian pharmaceutical companies currently in operation, 339 of them ended the dire year of 2020 with a profit, increasing it by 9.3 percent compared to 2019, to a total of 285.4 million kuna. The figures are far from surprising considering the global public health crisis which broke out in the spring of that year. According to Fina's data on the matter, total pharmacy revenues rose…
Saturday, 28 August 2021

Few Details About New Privatisation Process of Vukovar Port Known

August the 28th, 2021 - Seven very long years after the unrealised first attempt, Vukovar Port (Luka Vukovar) is starting the privatisation process once again. In true Croatian style, many unknowns surround the process, and investors will have many a pitfall to deal with. As Poslovni Dnevnik/Marija Brnic writes, Along with the Pozega-based Lipovica, in which the process of selling the majority ownership stake is underway, the Vukovar Port privatisation process will also be the most important project initiated by the Centre for Restructuring and Sales (CERP). The Vukovar Port privatisation was also announced in the annual plan of CERP for…
Saturday, 28 August 2021

Croatian Agrivi Startup Strengthening Position on African Market

August the 28th, 2021 - The Croatian agritech Agrivi startup has entered into a partnership with CGES Group, which will strengthen its position on the African market. As Poslovni Dnevnik/Marta Duic writes, the CGES group was looking for a digital solution for its clients from the agri-food industry over in Africa, and after the selection of the Agrivi startup through a new partnership, they plan to work together on projects to digitise agricultural production management in that part of the world. ''Agrivi's software is available worldwide, even in Africa, but through this collaboration, users will also receive support out in…
Friday, 27 August 2021

HUP: Croatia Formally Exits Recession

ZAGREB, 27 Aug 2021 - The latest GDP data for the second quarter of 2021 show that Croatia formally exited recession after four consecutive quarters of downturn, the Croatian Employers' Association (HUP) chief economist Iva Tomić said on Friday. Croatia's economy grew by 16.1% in the second quarter of 2021 compared to Q2 2020, which is the first time it grew after going down for four consecutive quarters and at the highest rate since 1996, when the national statistical office started collecting those data. Tomić underscored that this growth rate placed Croatia among the best performers in the European Union considering…
Friday, 27 August 2021

HGK Says Robust Growth in Q2 in Line with Expectations

ZAGREB, 27 Aug 2021 - The robust growth in the second quarter of 2021 is within expectations based on the relevant indicators, the Croatian Chamber of Commerce (HGK) said on Friday in its comment on the preliminary data showing the Q2 16.1% economic growth year-on-year. The HGK's analysis shows that all the big sectors had high growth rates in the second quarter compared to 2020 Q2. For instance, industrial output increased 13.9%, retail trade jumped 20.5%, and the volume of construction work increased 16% in the second quarter this year, the HGK recalls. Furthermore, tourist arrivals skyrocketed 131.7% compared to…
Friday, 27 August 2021

Despite Crisis, 2021 Saw Fewest Dismissals So Far; Nine in Ten Jobs Insecure

ZAGREB, 27 Aug 2021 - Only one in ten people who have found a job this year have been given permanent work contracts while 90% have found short or fixed-term jobs, Večernji List daily said on Friday, noting that despite the crisis, 2021 saw the fewest dismissals so far. With the present share of insecure and short-term work Croatia has been holding the European record for years. In the first seven months of 2021 permanent work contracts were signed by slightly less than 9,500 previously employed persons while 83,000 signed fixed-term contracts, the daily says. Labour market fluctuations are common but mass-scale…
Friday, 27 August 2021

Croatian Festival Organisers from Ontodei Turn to Beer Business

August the 27th, 2021 - Croatian festival organisers like those from Ontodei have turned towards the ever-popular beer business as the second year of festivals in Croatia being severely hindered by the pandemic shows no signs of letting up. As Poslovni Dnevnik/Marija Crnjak writes, Croatian festival organisers have had an enormous amount of time to twiddle their thumbs and sit worrying about their futures as a result of the global pandemic. Some, however, have decided to branch out. The young entrepreneurs involved with the brands Saso Mange and Freemental are not giving up despite the dire circumstances, and this summer they…
Thursday, 26 August 2021

ZSE Indices Go Up

ZAGREB, 26 August 2021 - The Zagreb Stock Exchange (ZSE) indices went up on Thursday, making up for yesterday's drop in value, but turnover was modest. The Crobex rose by 0.23% to 1,963 points and the Crobex10 went up by 0.31% to 1,205.31 points. Regular turnover amounted to just HRK 3.4 million, around 2.8 million less than on Wednesday. The most traded stock was the Valamar Riviera hotel company, which turned over HRK 837,400. Its price rose by 0.34% to HRK 29.50 per share. (€1 = HRK 7.486870) For more about business in Croatia, follow TCN's dedicated page.
Thursday, 26 August 2021

Croatia Set to Conclude Double Taxation Avoidance Agreement With Egypt

ZAGREB, 26 Aug 2021 - The Croatian government on Thursday approved the launch of the proceedings for concluding a double taxation avoidance treaty with Egypt. The agreement is expected to bring about income tax facilities and encourage investments. The treaty will pave the way for boosting the trade between the two countries and help them to fight tax evasion, Finance Minister Zdravo Marić told the Plenković cabinet in Zagreb. For more about business in Croatia, follow TCN's dedicated page.
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