March the 25th, 2022 - The Poles are continuing with the construction of the third Zagreb Matrix Office Park building as part of this wildly successful project here in the capital.

As Poslovni Dnevnik/Marija Crnjak writes, following the success of the first two buildings in the Zagreb Matrix Office Park, the Polish developer GTC will build a third building, thus expanding its successful project in the heart of the city. According to the company, which is also owned by Zagreb's Avenue Mall shopping centre, the third Matrix C building has received a building permit and, like the previous two, will provide innovative office space while maintaining a very high environmental standard.

"I'm extremely glad that our Croatian portfolio is growing so quickly and showing outstanding results in the Central and Eastern European market. The new building in a modern business complex and the Zagreb Matrix Office Park is a great opportunity for GTC to further expand and become a leader in the development of the real estate market in Zagreb as well as in the implementation of modern trends. The new building is also an excellent opportunity to further strengthen the respectable relationship we have with our tenants and provide them with sustainable solutions, which are more necessary today than ever, in every aspect of life and business,'' said Arn Willems, General Manager of GTC Croatia.

The first two buildings of the Zagreb Matrix Office Park, located on the outskirts of the Radnicka business district, were completed back in 2019 and 2020, respectively, and currently offer about 21,280 square metres of space.

The new space will provide approximately 10,500 square metres of gross leased space with high-quality office space, retail facilities, bicycle storage, other services and facilities, and will provide underground and aboveground parking for 250 vehicles and a power supplies for electric vehicles.

GTC pointed out that buildings A and B have already received their LEED Platinum certificates for green construction, which expands GTC's portfolio of ''green'' projects. The new building should become another sustainable business centre for many Croatian and international tenants.

Upon completion, Matrix C will receive DGNB Gold certification. The company added that the Zagreb Matrix Office Park is already attracting many tenants from various industries and many of them want to expand further. Completion of the building is planned for the second quarter of 2023.

For more, check out our business section.

March the 25th, 2022 - The Croatian Infinum company, a leader when it comes to software design and development, has presented its brand new visual identity and plans for further development.

As Poslovni Dnevnik writes, the leading Croatian software design and development company, Infinum, is currently entering a new phase of business after seventeen extremely successful years, which is marked by reorganisation, a brand new visual identity and plans for further development, as well as changes in the company's management.

"Over the last few years, the Croatian Infinum company has been developing steadily and we could say that it has ''grown up''. We wanted the brand to reflect that development and focus on the global market. New channels and ways of communication represent the bolder character of Infinum and have prepared us for new challenges. The quality of service is our top priority and, just as we did before, we're continuing to set high standards in the industry,'' said Nikola Kapraljevic, who is taking over the function of CEO within the new organisation.

Kapraljevic came to the Croatian Infinum company as the fourth employee, over the years he became one of the co-owners of the company and the COO, and in the position of CEO he will replace Tomislav Car, the co-founder of Infinum, who is set to become the company's new chairman.

“The company’s new management structure, along with a new identity, marks a new era, and is aligned with the idea of ​​Infinum becoming one of the best agencies in the world. We want to make Infinum a unique global company that won't have any competition in this area,'' said Tomislav Car.

As the CEO of Productive, a SaaS company that emerged from Infinum, Car continues to develop a product that helps other companies track their business and profitability and works to expand that company in the global marketplace. He continues to play an advisory role at the Croatian Infinum company, with a primary focus placed on strategic initiatives and investments through Infinum Ventures.

Growth, employment and new strategic acquisitions

Founded way back in 2005 in Karlovac, Infinum is now a stable company with six offices in the USA and across Europe, consisting of a team of more than 350 people. They regularly collaborate with globally renowned companies such as Disney, Philips, Porsche and KPMG to develop innovative and complex products.

Last year, Infinum ended with impressive revenues of 150 million kuna, and recorded growth of 30 percent when compared to 2020, which is more than expected. This income doesn't include the income of its sister companies Productive and Porsche Digital Croatia.

In addition to all of that, 2021 was the year of the largest expansion for Infinum across Europe, as they opened offices in the UK, Montenegro and Macedonia through acquisitions. This year, their plan is to achieve another 25 percent growth, employ another hundred people and continue with their strategic acquisitions.

For more, check out our business section.

March the 25th, 2022 - The Ukrainian hryvnia is becoming an extremely tricky currency to deal with in any which way given the current dire events taking place in that country following last month's unjustified Russian invasion. With thousands of Ukrainian refugees now in Croatia, banks and exchange offices have been left scratching their heads.

As Poslovni Dnevnik/Ana Blaskovic writes, around 9,000 Ukrainian refugees who have arrived in Croatia and took some cash with them in a panicked flight before the war have nowhere to officially change it.

In Croatia, the Ukrainian hryvnia isn't being exchanged by banks or by exchange offices, the Croatian National Bank (CNB) confirmed recently. A decision is being made which would see Hrvatska postanska banka take over, but no agreement has been reached yet.

"Regarding the elimination of the problem regarding the purchase of the Ukrainian hryvnia currency, we would like to inform you that the possibility of taking over the purchase of the Ukrainian hryvnia by Hrvatska postanska banka is being considered," said the CNB, which expects a solution soon.

Nobody wants to take the risk

The problem with the purchase of the Ukrainian hryvnia is essentially its non-convertibility, the fear of money changers and bankers that they will have no one to sell it to, at least not without major losses involved. An exchange office which didn't want to be named confirmed that this situation is very real. It does have the Ukrainian hryvnia on its exchange rate list, but it no longer de facto buys it back because the set exchange rate was set deliberately very unfavourably.

"Basically, the Ukrainian hryvnia can be changed, but the exchange rate is set very low, so it doesn't pay off for anyone to do so. The Ukrainian hryvnia is only formally listed because we can't remove it from the list. The bank we work with has completely removed it from its exchange rate list. Nobody wants to risk a pile of banknotes because it isn't known what will happen to that currency,'' said an employee of the exchange office in question.

The issue of the value of the Ukrainian hryvnia is a thorn in the side of not only Croatian banks and exchange offices, but also other European countries to which refugees from Ukraine are arriving. The European Commission (EC) and the European Central Bank (ECB) are both seeking a quick solution to establish a mechanism to enable the conversion of a limited amount at a given exchange rate to limit possible abuse or exploitation of the situation.

On paper it all seems simple, but in practice, the scheme carries great complications as it requires members to guarantee that financial institutions will cover any losses.

According to the FT, members are willing to provide the necessary political guarantees, estimated at one billion to three billion euros, provided the amount is limited to 300 euros per refugee. More than 3.5 million Ukrainians have fled their homeland following Russia's invasion. One of the burning problems they face is the lack of cash to pay for food, clothing, accommodation and other necessities. The Ukrainian hryvnia they took with them can't be exchanged for the euro or other currencies owing to the aforementioned reasons.

In Poland, which has received 2.1 million Ukrainian refugees to date, one Polish zloty could be bought for seven Ukrainian hryvnias before the war, and today 20 hryvnias are demanded for the same amount. Back on February the 23rd, the Ukrainian hryvnia was worth 0.03 euros.

The actual value is unknown...

The reluctance of banks and exchange offices to buy the Ukrainian hryvnia arose because its true value is unknown after Ukraine halted the majority of transactions, froze the official exchange rate at pre-war levels and imposed a moratorium on foreign exchange transactions (except for war-related payments).

The ECB's proposal to the EC provides a European guarantee for the initiation of exchange rate losses to the central bank in which large quantities of Ukrainian currency would end up, at least until the end of the war. In Frankfurt, they concluded that without a guarantee (necessary from the members because it isn't currently provided for in the existing EU budget), they cannot change the Ukrainian hryvnia for euros, since that would be monetary financing which is prohibited by the EU Treaty.

For more, check our lifestyle section.

March the 25th, 2022 - The gorgeous Istrian Cape Kamenjak beach (Rt Kamenjak) has been listed among the world's best secret beaches by the BeachAtlas portal, which is based in the British capital.

As Poslovni Dnevnik writes, the BeachAtlas portal based in London has included the beautiful Istrian Cape Kamenjak on its list of the best beaches in the Republic of Croatia, as well as on its list of the best secret or hidden beaches in Croatia, local portal Glas Istre (The Voice of Istria) reports. It's worth noting that this particular nature park in the very south of the Istrian peninsula is a favourite place for not only bathers and swimmers during the warm summer months, but it is also used as a picturesque promenade in winter.

''Only ten kilometres south of the city of Pula in Croatia, Rt Kamenjak is located on the Kamenjak peninsula, about twenty minutes drive from Premantura. Rt Kamenjak is known for its rich vegetative life, more than 550 different plants bloom on this peninsula, most of which are orchids, so this area is known for its natural beauty. The perfect confirmation is the fact that Lonely Planet has included Rt Kamenjak on the list of the best locations for a hidden vacation in the Mediterranean. The beach on Rt Kamenjak is mostly rocky, composed of flat rocks suitable for sunbathing and jumping. However, Rt Kamenjak is also known for its wild nature, safari bar and safari swing, which are ideal places for instagram photos. It is also useful to know that access to Rt Kamenjak by motor vehicles is charged, while the entrance for pedestrians and cyclists is free,'' BeachAtlas writes in its alluring description of this popular and truly stunning location.

It's worth adding that the two aforementioned lists also include the very well-known Croatian beaches such as Zlatni rat (Golden horn) Sakarun, Zrce, Sahara, and a few more.

For more, check out our dedicated travel section.

ZAGREB, 25 March (2022) - So far, 139 Ukrainian refugee children have resumed schooling in Croatia, and of them, 124 are integrated in primary schools and 15 in secondary schools.

In order to facilitate their integration in schools, Ukrainian school-age refugees are provided with additional classes to learn the Croatian language.

Broken down by county, the highest number of Ukrainian refugee children who are already back to school is in Split-Dalmatia where 22 are integrated in primary schools.

There are 15 Ukrainian children in primary schools in the City of Zagreb and Požega-Slavonia County each. Also, 13 Ukrainian kids have resumed schooling in primary schools in both Međimurje and Primorje-Gorski Kotar Counties, and 10 are integrated in primary schools in Lika- Senj County.

In the other counties that have enabled education for primary school students from Ukraine, the numbers are fewer than 10.

When it comes to secondary education, of those 15 children, six are attending school in the City of Zagreb, three in Osijek-Baranja County and two are back to school in Istria and Primorje-Gorski Kotar Counties each, and Split and Vukovar counties have one secondary-school Ukrainian refugee, according to the data which the Croatian ministry of education gave to Hina.

For more, check out our business section.

March 25, 2022 - The latest flight news to Croatia as Qatar Airways Doha-Zagreb flights have been boosted from the beginning of the summer flight schedule.

OneWorld alliance member Qatar Airways has increased the number of weekly rotations on the regular line between Doha and Zagreb from Sunday, March 27, reports Croatian Aviation.

With the first day of the summer flight schedule (Sunday, March 27), Qatar Airways is increasing the number of weekly rotations between Zagreb and Doha. Namely, the line has operated 2 to 3 times a week so far, and before the outbreak of the global pandemic, this line operated twice a day throughout the year.

Qatar Airways in Zagreb has not even come close to the number of weekly rotations from the 2019 summer season, and it is obvious that this will not happen this summer either. However, a positive shift is noticeable because as of this Sunday, 5 weekly flights will be available between Doha and Zagreb.

Two flights a week from Zagreb will depart in the morning, and three in the afternoon.

From March 27 to April 30, Qatar Airways is planning a total of 25 return flights between Doha and Zagreb, and A320 aircraft with a capacity of 132 seats (of which 12 are business class seats) have been announced on the route.

In total, in the mentioned period, this airline will offer 6,000 seats in economy and 600 in business class between the two cities. 

In addition to Qatar Airways, FlyDubai is also present in Zagreb, which also carries a number of transfer passengers to Asia and Australia, but most transfer passengers opt for Turkish Airlines flights, which offer significantly more than the other two carriers.

It remains to be seen how many weekly flights Qatar Airways will plan to Zagreb in the peak of the summer season, but there is no announcement of introducing the route to Dubrovnik, which was planned for the summer flight schedule in 2020 before the global pandemic.

For more on flights to Croatia and other travel announcements, check out our dedicated travel section.

ZAGREB, 24 March 2022 - EU Funds and Regional Development Minister Nataša Tramišak confirmed on Thursday that she had reported the threats she had been receiving since last summer, to the police,  however, she stopped short of revealing the identity of who was making the threatens.

"The threats started in early September, I cannot say who made them," she told the N1 broadcaster on Thursday, explaining that the threat in reference to blood-shedding was made in January.

The minister said that it was unpleasant to hear such things, however, they did not make her hesitant to continue conducting her ministerial duties.

As for the media reports that she said she would seek political asylum in Brussels in response to the person who made the threats against her, the minister explained the statement was taken out of context.

"I do not plan to leave Croatia. Sometimes things are said in the heat of the moment," she said.

Tramišak also explained that she did not contact the police or other authorities since the threats had were not direct.

She admitted that she could not deny the media reports about the threats when this became breaking news on Wednesday.

As for speculation that the threats were the outcome of internal wrangling inside the Croatian Democratic Union (HDZ) after she did not extend a contract for the engagement of the private Omega Software company,  she only said that media outlets had already commented on that in the past.

The Wednesday issue of the Jutarnji List daily said that the problems for Minister Tramišak started when she decided not to extend a contract for the eFond information system with the Omega Software company and awarded it to the state-run Financial Agency (FINA).

Fina was awarded this job after it already started working on the National Recovery and Resilience Plan (NRRP).

"It was logical that we should not advertise a public call for that job, as there were indications that only one company would apply, and in those situations, we cannot comply with the principles of public procurement. Also, Fina is capable of doing the job. As a result, we signed the relevant agreement with Fina," she said.

As for media claims that former HDZ official Milijan Brkic threatened Tramišak and that Prime Minister Zvonimir Savić was also implicated in conveying the threatening messages, Tramišak told the N1 that she had never met with Brkić, and that Savić was also a special adviser to the ministry and that he had never threatened her.

Politics: For more, check out our politics section.

ZAGREB, 24 March 2022 - The main Zagreb Stock Exchange (ZSE) indices went down on Thursday amid modest turnover, with the Crobex dropping by 0.43% to 2,053 points and the Crobex10 falling by 0.22% to 1,235 points.

Regular turnover was a mere HRK 4.7 million, or HRK 3 million less than on Wednesday.

The highest turnover, of HRK 660,000, was generated by the stock of the plastic car parts manufacturer AD Plastik. Its price decreased by 1.22% to HRK 97.2 per share.

Thirty stocks traded on the ZSE today, with eight gainings and 15 losing in price, while seven were stable.

(€1 = HRK 7.572093)

Business: For more, check out our business section.