Business

Monday, 16 May 2022

Hotel Valkane Construction in Pula Causes Issues for Local Government

May the 16th, 2022 - The announced construction of the five-star Hotel Valkane, with the investor being a Serbian media mogul, has caused quite the reaction among locals in Pula, with the local self-government unit there now torn between giving it the green light and saying a resounding no. As Morski writes, the construction of a 5-star, 7-storey hotel on a popular promenade by the sea has raised a real storm in Pula and shaken up the city government. Does the city need another huge hotel or not, and is the lungomare (the city's promenade) really the right location for that?…
Monday, 16 May 2022

Croatian Labour Force 15,000 Employees Short for 2022 Season

May the 16th, 2022 - The height of 2022's summer tourist season is rapidly approaching, and the Croatian labour force is still missing around 15,000 employees.  As Poslovni Dnevnik writes, the director of the Directorate for Development, Investments and Competitiveness of the Tourism Economy at the Ministry of Tourism, Robert Pende, said recently on the radio that the Croatian labour force, when it comes to the all important tourism sector, currently lacks as many as 15,000 workers, although he expects the deficit to decrease as time goes on. "Currently, according to the information we've received from the sector itself, there…
Monday, 16 May 2022

Hungarian Meszaros Investing 375 Million Kuna into Luxury Icici Hotel

May the 16th, 2022 - The Hungarian Lorinc Meszaros is investing an enormous 375 million kuna into a luxury Icici hotel which will transform this picturesque area and raise the overall tourism standard. As Poslovni Dnevnik/Marija Crnjak writes, the construction of the luxury hotel Riva’s Hotels & Resorts in Icici has started, a project worth 375 million kuna in which the well known Hungarian investor Lorinc Meszaros is investing, together with the local developer the DDG Group. This gorgeous new luxury Icici hotel will have a 5 star ranking and will boast 180 rooms and 12 villas. The laege project also…
Saturday, 14 May 2022

Despite General Uncertainty, Spending in Croatia is 37% Higher Than Last Year

May 14, 2022 - In the last week of April, the spending in Croatia was 37% higher than last year, attributing this trend to the consequences of rising prices and the creation of stocks. How is it possible that in a situation of general uncertainty caused by global geopolitical tensions, as well as the consequences of the pandemic, Croatia is facing the phenomenon of an explosion of fiscal accounts? Jutarnji List reports that data from the Tax Administration of the Ministry of Finance show that from April 25 to May 1 this year, compared to the same period in 2021, the number…
Friday, 13 May 2022

Croatian Company Valamar Turning to Solar Power for Hotels

May the 13th, 2022 - The Croatian company Valamar, which is huge and very well known in the tourism sector, is turning more and more towards solar power to provide electricity to its hotels by the year 2025. As Poslovni Dnevnik/Darko Bicak writes, the development of tourism in Croatia must be sustainable and be guided by the principles of the benefit of everyone and the environment, not pure profitability. This and more could be heard at the presentation of the cooperation between the Croatian company Valamar and E.ON recently in Porec. It was emphasised that energy efficiency and renewable energy…
Thursday, 12 May 2022

Croatian Company AKD Provides Solution to Slovenian Finance Ministry

May the 12th, 2022 - The very successful Croatian company AKD is succeeding more internationally, having offered its solution to the neighbouring Slovenian Finance Ministry and been readily accepted for the job. As Poslovni Dnevnik writes, for five years now, the Public Payments Administration of the Ministry of Finance has selected the Croatian company AKD and ED Solutions as the issuer of unique identification marks for unit and aggregate packaging of tobacco products as an integral part of the European Union's overall traceability system. This is a continuation of successful cooperation because the system was first established back in May 2019,…
Wednesday, 11 May 2022

Financial System's Exposure to Systemic Risks Increased, Says Central Bank

ZAGREB, 11 May 2022 - The Croatian National Bank (HNB) Council on Wednesday said the domestic financial system's exposure to systemic risks has increased due to the war in Ukraine and sanctions against Russia, and that inflation will increase the cost of new loans and burden loan repayments with variable interest. The HNB Council discussed current economic and financial trends, underscoring that statistical indicators show that economic growth strengthened at the start of the year but that weaker consumer confidence is evident which, despite a mild recovery, retained a relatively low level in April. Increased employment stopped in March, even though nominal wages are growing…
Wednesday, 11 May 2022

OYO Rooms Takes Over Croatian Direct Booker, Eyes European Expansion

May the 11th, 2022 - The global giant OYO Rooms has taken over the Croatian Direct Booker which has its origins in Dubrovnik and is eyeing further European expansion. As Poslovni Dnevnik/Marija Crnjak writes, with the aim of further expansion across Europe, the global online platform for tourist accommodation, OYO Rooms, has taken over the Croatian Direct Booker, an online agency founded in Dubrovnik which specialises in the management of units for tourist accommodation and technology development. The founders of Direct Booker, Nino Dubretic and Nikola Grubelic, as well as IT expert Ivan Bogoje, remain within the company's management, and with…
Tuesday, 10 May 2022

AmCham: Digital Croatia by 2030 Needs Single Instance for Digitisation

ZAGREB, 10 May 2022 - Several state institutions are involved in caring for Croatia's digitisation, while for any more significant progress and easier decision making it would be worthwhile for that to be just one body, AmCham director Andrea Doko Jelušić said on Tuesday at the "Digital Croatia 2030" conference. The conference is an annual event organised by the American Chamber of Commerce in Croatia (AmCham) and attracts representatives of its member companies. Doko Jelušić said that according to the EU's Digital Economy and Society Index (DESI), last year Croatia ranked 19th, and that the entire ICT industry accounts for 4% of GDP, which shows that there is…
Monday, 9 May 2022

ZSE Indices Down By More Than 0.3%

ZAGREB, 9 May 2022 - The main Zagreb Stock Exchange (ZSE) indices fell by slightly more than 0.3% on Monday. The Crobex dropped by 0.38% to 2,102 points, and the Crobex10 declined by 0.31% to 1,254 points. Regular turnover amounted to HRK 8.67 million, or HRK 2.1 million less than on Friday. An additional HRK 2.3 million was generated by a block transaction with the Atlantic retail group stock at HRK 1,620 per share. Atlantic Grupa also had the highest turnover in the regular session, HRK 1.61 million. Its price fell by 1.83% to HRK 1,610 per share. The stock of the…
Monday, 9 May 2022

Exports in Q1 up 36.6%, imports +41.2%

ZAGREB, 9 May 2022 - In the first three months of 2022, the value of Croatia's commodity exports totalled HRK 41.7 billion, up 36.6% on the year, while imports increased by 41.2% to HRK 67.4 billion, the Croatian Bureau of Statistics (DZS) reported on Monday. The foreign trade deficit in that period amounted to HRK 25.6 billion, 8.5 billion more on the year, while the coverage of imports by exports was 61.9%, whereas in the comparable period of 2021 it was 64%. The export of goods to the EU in Q1 totalled HRK 30.2 billion, 42.9% more on the year, while imports from the EU increased…
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