Business

Thursday, 16 June 2022

IAIS Global Seminar Opens In Dubrovnik

ZAGREB, 16 June 2022 - A global seminar of the International Association of Insurance Supervisors (IAIS) opened in Dubrovnik on Thursday, bringing together over 350 participants from 70 countries. The two-day seminar is being hosted by the Croatian Financial Services Supervisory Agency (HANFA), whose president, Ante Žigman, said that insurance companies are under great pressure from inflation and increasing interest rates as well as from climate change. "Catastrophic events, such as floods, hailstorms, wildfires and earthquakes, are largely covered by insurance, so insurance companies have to cope with that," he noted. Žigman also mentioned cybernetic risks, which are not tangible…
Thursday, 16 June 2022

EIB: Croatian Companies Among Worst Hit By Ukraine War

ZAGREB, 16 June 2022 - Over the next year, Croatian companies will be among the EU companies hardest hit by the consequences of the war in Ukraine, the European Investment Bank (EIB) says in its latest report. "Firms in countries closer to Ukraine and Russia, such as Hungary, Poland, Latvia and Lithuania, will feel the pressure. Moreover, firms in Greece, Croatia and Spain will also be more affected than the EU average," says the report, entitled "How bad is the Ukraine war for the European recovery?" The EIB published a ranking of countries whose companies face the greatest risk from the…
Thursday, 16 June 2022

Ongoing Inflation Continuing to Significantly Alter Croatian Price Lists

June the 16th, 2022 - Ongoing inflation is continuing to force Croatian price lists to alter more and more frequently, with some very simple services now significantly more expensive than they were this time last year. As Poslovni Dnevnik writes, the increase in prices across all fields owing to inflation has particularly affected Croatian islanders, and even on the gorgeous Central Dalmatian island of Korcula, company owners had to adjust their business to the recent price increases, writes HRT. As costs increase, it's now questionable how altering Croatian price lists will affect the upcoming height of the summer tourist season. New…
Wednesday, 15 June 2022

Minister: Existing Laws Enable Builders to Ask for Increase in Price for Their Work

ZAGREB, 15 June 2022 - The current regulations enable builders to demand compensation from the client for increased costs, but the first 10% of that increase on the contracted price is borne by the builders who can seek compensation for the rise on top of that, Construction Minister Ivan Paladina said on Wednesday. In response to questions about the direction the government will pursue in the expected decision for next week which should address the price hikes affecting construction companies, Paladina said that recognising the difference in prices does not require any annexes to contracts because contractual relations legislation already enables the contracting…
Wednesday, 15 June 2022

Croatia Moves Up 13 Places in Latest World Competitiveness Ranking

ZAGREB, 15 June 2022 - Croatia has made progress in all factors of competitiveness and has moved up by 13 notches to 46th place on the IMD's World Competitiveness Ranking, according to the  World Competitiveness Yearbook published by the Institute for Management Development (IMD) on Wednesday. Denmark reached the top spot for the first time in the ranking’s 34-year history, having come 3rd in 2021, while Croatia has made the biggest leap of 13 places from 59th to 46th position. The World Competitiveness Centre ascribes Croatia's performance also to the improvement of business climate against a backdrop of the forthcoming accession to the euro area. The…
Wednesday, 15 June 2022

Zagrebačka Pivovara Invests HRK 64 Million in Technologically Advanced Line

June 15, 2022 - Zagrebačka pivovara has invested a total of HRK 64 million in a technologically advanced line for filling and packaging cans. The investment in a technologically advanced line will fully satisfy the constant growth of market demand for canned beer in the Zagreb production plant, further increase the company's sustainability, the competitiveness of domestic production, and offer consumers new formats and multipacks of cans. It is part of the large investment cycle of Zagrebačka pivovara in the expansion of production and storage capacities with which the leading Croatian beer producer is celebrating its jubilee year and the 130th birthday…
Wednesday, 15 June 2022

Over 300 Applications for Indo-Croatian Startup Challenge,13 Best Selected

June 15, 2022 - The Croatian Agency for Small Business, Innovation, and Investment (HAMAG-BICRO) organized an online event to announce the winners of the Indo-Croatian Startup Challenge, a competition for Croatian and Indian startup companies supported by Infobip, KONČAR, and HexGn. More than 300 applications were received, among which the 13 best innovative solutions were selected. HAMAG-BICRO organized the competition to upgrade the initiative to connect with the Indian market and launch the India-Croatia Startup Bridge, a digital platform designed to strengthen the international cooperation and innovation environment and trade and economic cooperation between Croatia and India. The competition was organized…
Wednesday, 15 June 2022

Telemach Covers Almost All of Croatia with 5G Network

ZAGREB, 14 June 2022 - Telemach Croatia has covered almost all of Croatia with a 5G network and 100,000 households with a fast fixed fiber-optic network, approaching national coverage, to be completed by the end of 2022 or in early 2023 with the integration of Optima Telekom, Management Board President Adrian Ježina said on Tuesday. Telemach has replaced and/or upgraded close to all of 1,200 base stations for the mobile network, and has so far covered Zagreb, Zadar, and Split with a 10-gigabit fiber-optic network, with Osijek to be covered soon as well, he said. "We have achieved everything we planned in…
Tuesday, 14 June 2022

Candidates for Civil Service Jobs to Be Selected by Robot

ZAGREB, 14 June 2022 - Justice Minister Ivan Malenica has decided to put an end to hiring for civil service positions "through personal connections" by digitising the hiring process. The minister has launched a tender for a centralised selection system for admission to the civil service, and nine bids were received last week. The purpose of the project is to avoid a repetition of examination questions and prevent candidates who have already participated in examinations and are acquainted with previous questions from having an advantage over other candidates, according to the tender document cited by Jutarnji List. It also aims to prevent the…
Tuesday, 14 June 2022

Germans Looking at Croatian Business Climate More Optimistically

June the 14th, 2022 - German business owners are beginning to look at the Croatian business climate a bit more optimistically than they have done so far, which is good news for Croatian companies. As Poslovni Dnevnik/Marija Brnic writes, a mere three percent of German companies operating here in the Republic of Croatia are concerned about their own businesses, which is a better result than in previous years and better than in the rest of Central and Eastern Europe (CEE), where in this year's German-Croatian Chamber of Industry and Commerce research (AHK), nine percent of respondents rate their business opportunities as…
Tuesday, 14 June 2022

Minister Nikolina Brnjac Announces 1.25 Billion Kuna Payout for Tourism

June the 14th, 2022 - Croatian Tourism Minister Nikolina Brnjac has announced a massive payout totalling 1.25 billion kuna for Croatia's most important economic branch. As Poslovni Dnevnik writes, the Ministry of Tourism and Sport has opened an e-consultation on a public call/invitation for grants entitled "Strengthening the competitiveness of enterprises and encouraging the green and digital transition of the tourism sector", worth 1.25 billion kuna, it was announced on Saturday. Minister Nikolina Brnjac said that the aim of the call was to direct as much money as possible to tourism companies, meaning that a significant 60 percent of the total…
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