Business

Tuesday, 21 September 2021

Volume of Construction Work Grows For 14th Straight Month Y-O-Y

ZAGREB, 21 Sept, 2021 - The volume of construction work in July 2021 was 6.5% higher than in July 2020, however it fell by 4.9% compared to June 2021, the State Bureau of Statistics (DZS) reported on Tuesday. July was the 14th month in a row for the volume of construction work to increase on the year. DZS data indicate that the volume of construction work done on buildings in July was 5.3% higher y-o-y whereas the volume of other structures increased by 8.1%. Compared to June the volume of construction work contracted by 6.2% on buildings and by 3% on…
Tuesday, 21 September 2021

Introduction of the Euro: What Will the First Two Weeks Look Like?

September 21, 2021 - Speculation and doubts continue to appear about the future financial scenario in Croatia after the eventual introduction of the euro in the country as an official currency, displacing the kuna, and CNB Governor Boris Vujčić gives some clues about what it would look like in the first weeks. Pay in kunas, get euros back. At least this is how the first two weeks in Croatia would look after the introduction of the Euro on January 1, 2023, reports Poslovni Dnevnik. The objective is to stop the circulation of what would be the old Croatian currency at that…
Monday, 20 September 2021

Pekara Dubravica Boasts 35 Bakeries, Not Considering Exports

September the 20th, 2021 - The popular Pekara Dubravica bakery chain, which came from very humble beginnings, has done excellently despite the coronavirus pandemic and the dire economic consequences it has had on the domestic and global economy. As Poslovni Dnevnik/Darko Bicak writes, over the past several months, we've witnessed a great growth of the bakery/baked goods market across the Republic of Croatia, which has generally been accompanied by a large number of newly opened bakeries from both small businesses and larger bakery chains. One of the serious players on the market, at least in the area of ​​the City…
Sunday, 19 September 2021

Croatian Electronic Communications Market Sees Increases in Revenue and Investment

ZAGREB, 19 Sept , 2021 - The Croatian electronic communications market saw a 5% increase in total revenues in the first half of 2021 compared with the same period in 2020, while operators' investments rose by 4%, according to the data provided by the Croatian Regulatory Authority for Network Industries (HAKOM). Revenues from broadband Internet access increased by 10%, from network rental by 7% and from pay television by 4%. Investment in fiber optic infrastructure rose by 121%, and the number of connections using this technology went up by 32%.  In the second quarter of the year the share of high-speed broadband connections…
Sunday, 19 September 2021

Destiny of Much Loved Motel Plitvice Lies in Croatian Motorways' Hands

September the 19th, 2021 - Motel Plitvice has been a favourite among locals and tourists using Croatia's motorways for very many years now, but now its fate lies in Croatian Motorways' (HAC) hands. As Novac/Vedran Marjanovic writes, the fate of Motel Plitvice, a favourite place to stop for many road users along the Zagreb - Bregana highway, is in the hands of Croatian Motorways after the Zagreb Commercial Court recently determined the debt of the motel, which requested pre-bankruptcy back in the spring. Out of the total court-determined debt of Motel Plitvice of 39.6 million kuna, HAC's claim accounts for…
Saturday, 18 September 2021

Investment Rating Confirmation of Good Gov’t Policy, Says PM

ZAGREB, 18 Sept, 2021 - Prime Minister Andrej Plenković said on Saturday the affirmation of Croatia's investment rating and forecast of a 6.5% economic growth this year were a confirmation of the government's good policy, which retained Croatia's economic and financial stability during the pandemic. "The Standard & Poor's agency has affirmed Croatia's investment rating with a stable outlook and raised the economic growth estimate in 2021 to 6.5%! This is another confirmation that Croatia has retained economic and social stability as well as jobs during the COVID-19 pandemic with the government's measures for the private sector," the prime minister tweeted. With a…
Saturday, 18 September 2021

Valamar Already Seeking Employees for 2022 Croatian Tourist Season

September the 17th, 2021 - The height of the summer tourist season, which was put in doubt and which returned truly remarkable results despite various predictions, is now behind us. As the post-season approaches and as hopes remain high despite Croatia now being ''red'' on the ECDC corona map and with infection numbers higher, Valamar is already on the lookout for employees for the 2022 Croatian tourist season. The global coronavirus pandemic made most people worry that we'd see a repeat of the dire summer of 2020 once again this season, especially as the beginning of the year started out…
Saturday, 18 September 2021

Enormous Interest for Croatian Tourism Investment, But Issues Remain

September the 18th, 2021 - The interest for Croatian tourism investment has never been more intense as we get a more firm hold on the pandemic, but in the usual Croatian way, multiple issues and obstacles remain. As Poslovni Dnevnik/Marija Crnjak writes, the interest of investors and hotel brands in Croatian tourism has never been higher, which is partly due to the coronavirus pandemic that has made us delve into other virtues. Croatia has a great opportunity to develop some new quality projects for Croatian tourism investment from both at home and abroad, it's also an opportunity to restart the country's…
Saturday, 18 September 2021

Slovakian Acquisition of Hotel Trakoscan Now in Final Phases

September the 18th, 2021 - The Slovakian acquisition of Hotel Trakoscan in continental Croatia has finally reached its final phases, one step closer to the company taking full possession of the facility. As Poslovni Dnevnik/Suzana Varosanec writes, two of the three large tourism components from the bankruptcy estate of Varazdin's Coning, which were sold as part of this bankruptcy procedure, can be said to have ended up in the portfolio of the same buyer, the Zagreb company Adriatic Tourist Resorts, owned by JS Capital Management from Bratislava, Slovakia. The Zelena punta apartment complex (Kukljica) on the island of Ugljan, has…
Friday, 17 September 2021

Klima-Forum Conference: All Things Cooling and Air-Conditioning to be Discussed in Umag

September 17, 2021 - Set to be held in Umag on October 7-8, the Klima-Forum Conference is the event to go to for discussions on the contemporary issues of cooling systems and air conditioning in Croatia. Registrations for participation are now underway. ''Nineteen days and eighteen hours'' is displayed on the countdown on the Energetika-marketing.hr website at the time of writing this article. For the professional air-conditioning community, the countdown is more than exciting, as it points how much time remains until the 8th edition of the Klima-Forum, the event about all things related to Cooling, Ventilation, and Air-conditioning. ''The westernmost…
Friday, 17 September 2021

Croatia's August Inflation Rate Picks Up to 3.1%, Highest Since April 2013

ZAGREB, 17 Sept 2021 - Consumer prices in Croatia rose by 3.1% in August 2021 compared with the same month in 2020, which is the highest inflation rate since April 2013, when it was 3.3%, according to figures released by the National Bureau of Statistics (DZS) on Friday. The first stronger rise in inflation was recorded in April this year, of 2.1%. It slowed down to 2.0% in June, before picking up to 2.8% in July and 3.1% in August. The rise is the result of the spillover of prices from global commodities markets, growing domestic and foreign demand, and…
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