Business

Tuesday, 15 June 2021

Zagreb Stock Exchange Indices Rebound

ZAGREB, 15 June, 2021 - The Zagreb Stock Exchange (ZSE) Crobex and specialised Crobex10 indices on Tuesday rebounded by 0.41% to 1,973 points and 1,213 points respectively. Today's regular turnover was HRK 6.4 million, or HRK 800,000 more than on Monday. The Maistra hotel company was the only one to cross the one million kuna mark in turnover. It generated HRK 1.25 million and its share price stagnated at HRK 302. A total of 39 stocks traded today, with 18 of them registering share price increases, 14 recording share price decreases and seven remaining stable in price. (€1 = HRK 7.489862) For more about business in Croatia, follow TCN's…
Tuesday, 15 June 2021

Vedran Sosic: We Need to Lower Number of "Zombie Companies" Post-COVID

June the 15th, 2021 - Just what needs to be done to speed up economic recovery following the coronavirus pandemic? Respected Croatian economist Vedran Sosic says that we need to take a serious look at the number of so-called zombie companies as the pandemic draws to a close, and limit them. As Ana Blaskovic/Poslovni Dnevnik writes, the pace of economic recovery could vary very significantly between countries, said the Croatian National Bank's chief economist Vedran Sosic in Rovinj at the 9th meeting of the region's governors, primarily due to their different economic structures and aid effectiveness. The state has helped…
Tuesday, 15 June 2021

Is Croatian State Playing God by Making Investing Easier for Some Than Others?

June the 15th, 2021 - Is the Croatian state playing God by making it easier for some to invest than it does for others? In any case, a safe business environment stimulates economic growth, and without creating that, the Croatian economy won't be moving anywhere up any time soon. As Poslovni Dnevnik/Darko Bicak writes, establishing a predictable and reliable business environment is a prerequisite for any sort of economic growth and the application of new technologies through the Industry 4.0, it was said at the Industry Day conference held on Friday in Zagreb, organised by the Croatian Employers' Association (HUP).…
Monday, 14 June 2021

Government Denies Report On One Billion Kunas Less For Croatia from EU

June 14th, 2021 - The government on Monday refuted as untrue the allegations by the Jutarnji List that after the European Commission perused through its National Recovery and Resilience Plan (NPOO), imprecision detected in relations to the costs have resulted in one billion kunas less for Croatia from the EU. The amount of grants set aside for Croatia under the Recovery and Resilience Facility is €6.3 billion (approximately 47.5 billion), as also carried in the relevant regulation adopted by the European Parliament and the Council establishing a Recovery and Resilience Facility on 18 February. The mentioned amount has never been questioned since the adoption of the…
Monday, 14 June 2021

HBOR And EIB Sign €50m COVID Guarantee Agreement

June 14th, 2021 - The European Investment Bank (EIB) and the Croatian Bank for Reconstruction and Development (HBOR) on Monday signed the Covid Guarantee Agreement in the amount of €50 million for loans taken by Croatian mid-caps and large corporations to help them recover from effects of the COVID-19 pandemic. In a joint press release, EIB and HBOR said the EIB contribution valued at €25 billion stems from the European guarantee fund (EGF) set up by EIB in 2020 to accelerate post-COVID recovery, job keeping measures, and to provide much-needed liquidity for European companies. This is the first EIB operation in Croatia stemming from…
Monday, 14 June 2021

Croatian Construction Industry Hungry For Workers, Seeking Foreign Labour

June the 14th, 2021 - The Croatian construction industry is hungry for workers in spite of the ongoing coronavirus crisis which has thrown a proverbial spanner in the works of almost every segment of the economy and as such jobs. The sector is even keeping its eyes on foreign workers as the need is now so great. As Poslovni Dnevnik/Suzana Varosanec writes, from the beginning of this year to June the 11th, 2,434 employers submitted 14,437 applications to the CES for positions in the Croatian construction industry, for which a labour market test doesn't need to be conducted. Most of…
Monday, 14 June 2021

FitnessTV to Disrupt the Croatian Fitness Industry?

June 14, 2021 - TCN meets Sime Lisica, the director of Audio Visual Group d.o.o. who is shaking up the Croatian fitness industry with a new product - FitnessTV. I was born and bred in Sydney Australia, a city of 5 million people, with an extremely fast pace of life. In my early 30s, I had realized that my calling, my higher purpose in life was coming from Croatia, so I decided to do something about it. I had come to the conclusion that Australia had dramatically changed from the country that I once knew, the country that I grew up in would…
Sunday, 13 June 2021

Untapped Potential of 432.8 Million Dollars of Croatian Enterprises

June the 13th, 2021 - Croatian enterprises have a lot of untapped potential just waiting to be utilised, and the global electrical equipment market is where the focus needs to be. As Poslovni Dnevnik/Darko Bicak writes, the global electrical equipment market is growing unstoppably, worth a massive 1180 billion US dollars last year and estimated at 1271 billion dollars this year. With an expected annual growth of 7.7%, by 2025 its value could climb to more than 1662 billion dollars. Where does Croatia stand in this regard, exactly? Although Croatian electrical equipment manufacturers are already significant players in the export…
Sunday, 13 June 2021

Croatian Producer Prices Rise by 7.6 Percent, Higher Than ECB Predictions

June the 13th, 2021 - Croatian producer prices have risen by as much as 7.6 percent, quite a significant bit more than the ECB's initial predictions would have suggested. As Marina Klepo/Novac writes, back in May, Croatian producer prices rose by as much as 7.6 percent when compared to the same month last year, according to the CBS. This is the third month in a row that a significant increase in the price of products supplied by Croatian producers has been recorded; in April, annual prices increased by 5.8 percent, and in March they rose by 3.5 percent. However, when energy…
Saturday, 12 June 2021

Croatian Export Results for 4 Months of 2021 Overtake Those of 2019

June the 12th, 2021 - Croatian export results are looking promising so far this year, with the first four months of 2021's results overtaking those from pre-pandemic 2019. It's no surprise that the pharmaceutical industry has done exceptionally well. As Poslovni Dnevnik/Marija Brnic writes, it was expected that Croatian export results would be higher in March and April than they were last year, when the economy in all major markets stopped due to the lockdown and trade flows were interrupted. However, the latest preliminary data from official statistics show something unexpected - that a record export year has begun in…
Saturday, 12 June 2021

74 Percent of German Investors Would Do Business, Invest in Croatia Again

June the 12th, 2021 - It might come as an enormous surprise to many who are used to reading about Croatia's troubles when attracting and indeed keeping hold of foreign investments, but it seems that the German investor impression of Croatia has dramatically improved of late. Many would choose to invest in Croatia once again. As Poslovni Dnevnik/Marija Brnic writes, as written above, the perception of Croatia in the eyes of German investors has improved significantly - unlike two years ago, when almost half of them were absolutely sure they wouldn't decide to invest in Croatia again. According to the…
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