Business

Saturday, 22 May 2021

PM Says Satisfied with Fitch Rating, Gov't Working on Creating Conditions for Growth

ZAGREB, 22 May 2021 - PM Andrej Plenković on Saturday expressed satisfaction with Fitch rating agency's having maintained Croatia's rating at BBB- with a stable outlook, saying his government was working to create conditions for economic growth so that this and next year its growth rate could be among the highest in the EU. Fitch Ratings on Friday affirmed Croatia's rating at 'BBB-', with a stable outlook, saying that pressure on state finance linked to the pandemic should be neutralised by economic recovery on the back of tourism and EU support. "We are very happy. The... rating confirms what we have…
Saturday, 22 May 2021

Fitch Affirms Croatia at 'BBB-', Outlook Stable

ZAGREB, 22 May 2021 - Fitch Ratings on Friday affirmed Croatia's rating at 'BBB-', with a stable outlook, saying that pressure on state finance linked to the pandemic should be neutralised by economic recovery on the back of tourism and EU support. The 'BBB-' rating balances strong structural features, the agency says, singling out better indicators of human development and governance in comparison with countries with a similar rating and higher GDP per capita. The rating is restricted by a high public debt and periods of weak economic growth, in part due to the slow adoption of structural reforms. The stable outlook "weighs large short-term downside risks…
Friday, 21 May 2021

Crobex Drops by 0.5% as Dalekovod Shares Plunge in Price

ZAGREB, 21 May 2021 - The Zagreb Stock Exchange Crobex index ended the last trading day of the week by going down by 0.5%, due to a drastic fall in the price of the Dalekovod transmission line producer's shares of 59%.  The Crobex index fell by 0.52% to 1,943 points while the Crobex10 remained stable at 1,200 points. Nevertheless the main indices ended the week in the green, with the Crobex strengthening by 0.18%, increasing for the fifth week in a row, while the Crobex10 increased by 0.6% on the week. Regular turnover amounted to HRK 5.8 million or about one million…
Friday, 21 May 2021

E-Matematika: New Online Instruction Developing Business That Helps Pupils

May 21, 2021 - With math seeing more and more appreciation, it's still, quite rightfully, a challenging discipline that not everyone can comprehend. Quality lessons, additional instructions, and motivated lecturers and teachers are the obvious recipe to both help those who struggle with math and those who are good at it to achieve their best possible potential. However, the coronavirus pandemic is still present and is still causing difficulties in the Croatian education system, forcing pupils and professors to switch from online to live lectures or a mix of the two, putting additional pressure on sharing knowledge on any imaginable…
Thursday, 20 May 2021

Average Wage Earned in Croatia in March Totals HRK 7,138

ZAGREB, 20 May 2021 - Croatia's take-home pay in March came to HRK 7,138, rising 6.3% on the year in the nominal terms and five percent in the real terms, according to the data released by the national statistical office on Thursday (DZS). The average wage in March rose by 1.4% in the nominal terms and o.3% in the real terms in comparison to February 2021. The DZS says on its website that "the highest average monthly paid off net earnings per person in paid employment in legal entities for March 2021 were paid off in Information service activities and…
Thursday, 20 May 2021

Swirling Rumors in Expat Village of Split: Stories from a Woman Business Owner

May 20, 2021 - What's it like doing business in the expat village of Split? Monique Laffite shares her trials and tribulations as a female business owner in the Dalmatian capital.  I wanted to start this article with seven Spanish curse words that can easily describe what it is like to be a female business owner in Split, but I’ll leave the profanity to the gossip corner.  Lord knows they are half of the problem. That’s how I felt forced to write this article: pure gossip. So, before you lend your ear to those with the colorful stories about people’s lives, and how…
Thursday, 20 May 2021

Passenger Transport 31% Down, Transport of Goods 4.5% Down in Q1

ZAGREB, 20 May 2021 - A total of 11.3 million passengers were transported in Croatia by all means of transport in the first three months of 2021, which is around 5.2 million fewer passengers or a 31.4% drop from the same period of 2020, while the transport of commodities dropped by 4.5% to close to 28 million tonnes. According to preliminary figures released by the national statistical office, in Q1 the most passengers, 7 million, were transported by bus, a drop of 32% compared to Q1 2020. As for the transport of goods, 18 million of the 28 million tonnes of…
Thursday, 20 May 2021

Croatian Fortenova Group and Cotrugli Business School Create Programme

May the 20th, 2021 - The Croatian Fortenova Group and the Cotrugli Business School have teamed up to create a special educational programme to further enhance the professional competence of the Fortenova Group's employees. As Jutarnji list/Novac writes, as part of the programme to improve the knowledge and skills of its employees (DRIVE Beyond Excellence), the Croatian Fortenova Group, in partnership with experts from Cotrugli Business School, has developed the Navigate programme. The programme is designed to strengthen the professional competencies of the Fortenova Group's employees so that they can invest in their own development, the strategic goals of the…
Wednesday, 19 May 2021

Zagreb Stock Exchange Indices' Winning Streak Broken

ZAGREB, 19 May, 2021 - Amid a moderate trading on the Zagreb Stock Exchange on Wednesday the main indices fell slightly, ending their rising streak over the past few days, with the Podravka food manufacturer's stock drawing the most attention after it proposed a dividend of HRK 9 per share. The Crobex fell slightly by 0.15% to 1,949 points, breaking its four-day climb. At the same time the Crobex10 weakened by 0.31% to 1,203 points, after rising for three days in a row. Among the sector indices, the construction index fell by 2.13% while the transport sector strengthened by 0.97%. Regular turnover amounted to…
Wednesday, 19 May 2021

Financial Stability Council Meets to Discuss Risks to Stability of Financial System

ZAGREB, 19 May, 2021 - Timely and full reporting on the impact of the coronavirus pandemic on business operations and the materialisation of credit risk in financial institutions is important as some sectors of the Croatian economy are still strongly affected by physical distancing measures, the Financial Stability Council said. The Financial Stability Council is an inter-institutional body that designs Croatia's macroprudential policy. It consists of representatives of the Croatian National Bank (HNB), the Croatian Financial Services Supervisory Agency (HANFA), the Ministry of Finance and the State Agency for Deposit Insurance (DAB). The Council met on Tuesday under the chairmanship of HNB Governor Boris…
Wednesday, 19 May 2021

After Century of Existence, Koncar Group Remains Leader in Development

May 19, 2021 - The Koncar group began its history 100 years ago in a workshop in Zagreb. Today, it is known as a regional leader in the power industry and in the production of rail vehicles. Apart from becoming one of the largest Croatian exporters and the bearer of innovations, quality standards, and technological progress, the Koncar group has also grown into a symbol of longevity and tradition. As Jutarnji list reports, with an immeasurable contribution to Croatian industry, the Koncar Group has references in almost 130 countries, to date, they have produced and delivered more than 400,000 transformers of…
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