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 already been taken over by ATR for around 26.5 million kuna, and now the same is about to unfold for Hotel Trakoscan, while possible Slovakian interest in Hotel Pagus is currently unknown. However, according to the latest AFS, ATR wrote off investments close to 2 million kuna for the purchase of the Pagus hotel, which failed to materialise in the end.
In total, the Kukljica apartment complex was estimated to stand at 37.57 million kuna, while the estimated value for Hotel Trakoscan and the surrounding land was 55.27 million kuna.
Currently, the acquisition of Hotel Trakoscan is in its final phase and the company in question is one step closer to taking possession, with this very attractive piece of real estate being accompanied by the necessary form of establishing a lien due to the closure of financing from the new owner - through a loan.
The buyer of ATR, Coning's creditor, is financing the purchase of Hotel Trakoscan with credit funds, and the loan was obtained from the Slovak company Prime Tourist Resorts, which in mid-2020 transferred its stake to JS Capital Management.
After the hotel was awarded in favour of ATR for a massive price tag of 29.055 million kuna, ie, after the appeal procedure initiated by the buyer to resolve the issue of the difference for which they were exempted from paying the purchase price, the amount of 27.855 million kuna realised through a Slovak loan was finally confirmed.
As a result, a contract on the establishment of a lien on the aforementioned property and its surrounding land has been concluded over recent days, the Varazdin Commercial Court announced.
In the bankruptcy of the Varazdin company Coning, sales for Hotel Pagus are still expected to continue, with a value estimated at 45.87 million kuna, while the conclusion on the sale sets an initial value of 49 million kuna.
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Zagreb Fair to Finally Restart Events! Decision on Interliber Awaited
September the 18th, 2021 - The Zagreb Fair (Zagrebacki Velesajam) has been the ''place to be'' over the last few months to get vaccinated against the novel coronavirus. A ban issued by the National Civil Protection Directorate on the holding of events and fairs put a dampener on everything the facility was previously used for. That is all finally set to change as the Zagreb Fair begins playing host to the fair and event industry once again.
As Poslovni Dnevnik/Darko Bicak writes, following the recently made decision from the Croatian Civil Protection Directorate on lifting the ban on the holding of business fairs and indoor events, which came into force yesterday, finally lifting the eighteen month ban on this activity, the Zagreb Fair announced that in the coming days they will announce the schedule of this location's events until the end of the year.
"Following the decision, the final dates for various fair/event projects of the Zagreb Fair until the end of 2021 will be announced in the coming days. In order to safely hold fairs and protect the health of all participants, the Zagreb Fair has prepared the organisation of upcoming projects with the epidemiological measures currently in force in mind, including the implementation of recommendations for health and safety according to the instructions of the National Civil Protection Directorate and the Croatian Institute of Public Health,'' they announced from the Zagreb Fair.
According to unofficial announcements from their website, this year, Inova, Art Fair, CroAgro and the Fair of Food and Healthy Living will all be held there.
It has been announced that they're also prepared for the wildly popular Interliber to take place, which draws visitors from all over the country, but concrete details on that are yet to be revealed.
For more, make sure to check out our dedicated lifestyle section.
20 Years of Riot Police Force in Croatia Marked
ZAGREB, 17 Sept 2021 - The riot police force is celebrating 20 years since its establishment and in addition to officials from the Ministry of the Interior and Police Directorate, the director of Germany's riot police, Andreas Backhof, attended the celebrations in Zagreb on Friday.
Croatia's riot police force was established on the German model.
Inspector Backhof said that Croatia's riot police meet European standards at a very high level. He underscored that other countries seek advice from Croatia's police when establishing their own police units, which, he said, deserves great respect and recognition, the Ministry said in a press release.
"We have stood and will stand by you, with advice, action and support - all this time we have been learning from you too. We have not only maintained our partnership on an equal footing but have developed friendly relations based on mutual respect and trust," said Backhof.
Interior Ministry state-secretary Irena Petrijevčanin Vuksanović said that compared to previous years, the need to involve riot police in various daily tasks had increased and the scope of their duties had significantly expanded.
Police Director-General Nikola Milina thanked all members of the riot police unit, underscoring that along with the special police unit, riot police conduct the most difficult duties. He recalled that the riot police actively participate in a wide range of police activities, emphasising their engagement in the protection of Croatia's border - the longest external EU border.
The ministry recalled that in addition to their regular duties riot police participate in complex criminal-tactical situations such as police hunts, inspections of premises, ambushes, raids, road blockades, etc.
Riot police are also called in in cases of general danger caused by natural disasters and in all other situations where the presence of a large number of police officers trained to conduct teamwork is required, the ministry said.
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Health Minister Visits Site of Future Institute of Immunology Factory
ZAGREB, 17 Sept 2021 - Health Minister Vili Beroš on Friday visited the site of a future Institute of Immunology factory in Brezje near Sveta Nedelja, west of Zagreb, where the production of snake antivenom would be relaunched, to be followed by the production of plasma-derived products and child and other vaccines.
Institute of Immunology director Vedran Čardžić said that the construction of the factory, a project worth about HRK 100 million, should start at the end of 2022 or early 2023.
The factory's main product would be vaccines but there are plans to launch the production of antivenom for the duration of preparations for construction work and regulation of the related legal matters.
"We will launch the production of antivenom during preparations for the construction of the new factory. That unit will be part of the new factory which will focus on vaccines against children's diseases (measles). Those vaccines used to be produced by the Institute of Immunology and the state owns the master seeds which international experts say are the best because they give the best vaccination results owing to their properties," said Čardžić.
This is expected to be followed by the launch of production of plasma-derived products and potential adoption of technologies for the production of newer virus vaccines in cooperation with partners, which is being negotiated, he said.
Minister Beroš said that this spring Croatia was faced with a shortage of antivenom, and even though the problem was quickly solved, he noted that as a tourist destination, Croatia should be able to rely on its own antivenom production.
He noted that antivenom production was expected to start before the next tourist season, adding that current employees of the Institute of Immunology would make up the core of the research staff at the new factory.
Čardžić also pointed to the need to attract new experts, noting that he would contact universities to inquire about successful students nearing graduation who would be interested in working at the Institute of Immunology.
Sveta Nedelja Mayor Dario Zurovec expressed hope the project would be a sustainable model of public-private partnership, announcing support by local authorities.
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Croatia Soon to Receive €800m for Recovery and Resilience Plan
ZAGREB, 17 Sept 2021 - Croatia will soon receive over €800 million to start implementing projects from the National Recovery and Resilience Plan, Prime Minister Andrej Plenković said in Athens on Friday after meeting with European Commission President Ursula von der Leyen.
"We expect in the days ahead a concrete decision on the payment of an advance of more than €800 million to start implementing the projects we submitted," he said.
In July, the Commission approved Croatia's €6.3 billion National Recovery and Resilience Plan, which could increase GDP by 2.9% and create 21,000 jobs by 2026.
"That programme should facilitate a faster economic recovery and a clear development course, the so-called double transition, both digital and green," said the prime minister.
He and von der Leyen also talked about COVID-19, post-earthquake reconstruction, the introduction of the euro in Croatia and Croatia's Schengen membership bid.
Plenković said she "confirmed that the European Commission stands strongly by Croatia's ambition to introduce the euro as its currency at the beginning of 2023."
He reiterated that Croatia had met all the Schengen entry requirements and expected to join the area in 2022. "The Commission supports us. We want to get the consensus of the other member states as well, so that we achieve this second goal of deeper integration within the EU next year."
Plenković, Mitsotakis talk economic cooperation
Ahead of an EU MED9 summit, the Croatian prime minister met with the host, his Greek counterpart Kyriakos Mitsotakis.
Greek-Croatian trade is increasing and now stands at €300 million. Plenković said there was room for increasing it. "We are pleased that the Greek company Avax is among those building the access roads to Pelješac Bridge. Trust between economic operators increases that way."
He said talks on the Greek airline Aegean's interest in a strategic partnership with Croatia Airlines were expected to be "renewed" in the months ahead.
Croatia is grateful for Greece's help after the December earthquake and Greece appreciates that Croatia sent planes and backup to fight the wildfires this summer, Plenković said. "Our team was there seven days. They appreciate that very much, it was the biggest wildfire they had in recent years."
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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 part of Istria, the first days of autumn, beautiful nature, a pleasant climate... could there ever be a better environment for a discussion and an exchange of experiences, opinions and ideas, for the presentation of new products, solutions and implemented projects in refrigeration, ventilation and air-conditioning technology?'' wonders Energetika-marketing.hr while inviting interested parties to the forum that will take place in Umag on October 7-8 at the Sol Garden Istra hotel.
Even though the application section on the website is made for registration and accommodation, the website nevertheless warns that interested people should send an inquiry to register for both participation and accommodation via email to This email address is being protected from spambots. You need JavaScript enabled to view it..
At the moment, admissions are being taken both for those who just want to come and learn more as well as for authors who also want to present their work in the field of cooling systems.
''The authors of presentations that will be presented at the conference are exempt from paying the registration fee on the day they present their presentation. If a presentation has more than one author, the one who will present at the conference is the one exempt from paying the registration fee,'' says the website.
The program that includes round-tables, discussions, and lectures has been divided into six thematic sections.
On Thursday, October 7, the themes will be Globally and Locally (on laws and practices in Croatia, Europe, and the rest of the world), Ventilation and Air-conditioning (on the pandemic, health protection, cleaning solutions, and more), and Regulation and Control (on smart grids, buildings, and similar topics).
The next day, October 8, the forum will deal with the themes of Projects and Solutions (designing, testing and implementing cooling systems, etc.), Renovation and Modernisation (nearly zero-energy buildings, energy renovation), and finally, Efficiency and Development (the energy consumption of cooling and ventilation systems and more).
With concerns about energy efficiency continuing to take a front seat for the climate change topic, this conference is another environmentally friendly step forward for Croatia. As TCN previously wrote, positive examples include the Hrvoje Požar Energy Institute (EIHP), being the first nearly-zero energy building in Croatia, and the REPLACE Project, to name just a couple of examples.
Several scientific-technical are also keenly backing this upcoming event. These five patrons are the University of Rijeka, the Faculty of Electrical Engineering, Mechanical Engineering and Naval Architecture (University of Split), the Faculty of Mechanical Engineering and Naval Architecture (University of Zagreb), the Croatian Chamber of Engineers, and the Croatian Association for Cooling, Air-Conditioning and Heat Systems.
In addition, the lead patron is the Croatian Chamber of Commerce (HGK)
Learn more about Croatian inventions and discoveries from Tesla to Rimac on our dedicated TC page.
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Milanović: Pro-European Montenegro Important as Neighbour, NATO Partner
ZAGREB, 17 Sept 2021 - Croatia will continue to support Montenegro's European path as a pro-European Montenegro is important as a neighbour and NATO partner, Croatian President Zoran Milanović said on the Brijuni archipelago on Friday, where Montenegrin President Milo Đukanović wrapped up a two-day visit to Croatia.
The two presidents exchanged information and views on Montenegro's EU accession negotiations as well as the situation in Montenegro and Southeast Europe, Milanović's office said in a press release.
Montenegro should continue to develop as a democratic, secular and pro-European state, said Đukanović.
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Minister Tramišak Presents Contracts for Co-Funding EU Projects in Osijek
ZAGREB, 17 Sept 2021 - Minister for Regional Development and EU Funds Nataša Tramišak on Friday presented local government officials in the eastern city of Osijek and Osijek-Baranja County with contracts for co-funding EU projects worth HRK 48 million.
The contracts concern, among other things, the modernisation of tram infrastructure, the construction of an IT park and the energy efficiency renovation of schools in Osijek, the construction of a sports park in Beli Manastir, and the construction and equipping of kindergartens in several municipalities.
Tramišak said that this money came from the state budget and would cover the portion of funding for the projects the local government units would otherwise have to contribute themselves. She said that this would help them implement the projects that should be completed by the end of 2023.
Tramišak said that 640 projects worth about HRK 20 billion had been submitted to the Fund for co-financing projects at local and regional level.
"The Ministry's aim is to successfully conclude the financial perspective until 2020, and we have until 2023 to draw funds from it. In that way we will help local and regional government units and ensure full absorption of funding for this period," Tramišak said.
Osijek Mayor Ivan Radić said that the projects in his city are worth HRK 1.2 billion and that it would be very difficult for the city to finance them on its own. He announced projects exceeding HRK 2 billion for the next EU financial period 2021-2027, saying that they expected assistance from the ministry in their implementation.
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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 a price convergence towards the EU average, notably with regard to services, analysts at Raiffeisenbank Austria (RBA) said in their comment on the DZS report.
The rise in consumer prices accompanied the rise in industrial producer prices, which grew by 9.3% in August 2021 compared with August 2020, their highest jump since January 2011. This year industrial producer prices increased by 3.5% in March, 5.8% in April, 7.6% in May, 7.2% in June and 7.9% in July.
Transport prices increased the most, by 9.9% compared with August 2020.
Compared with July 2021, consumer prices went up by 0.2% on average.
In the first eight months of 2021, compared with the same period of 2020, consumer prices rose by 1.7%. The greatest contribution to the rise came from energy prices, which increased by 5.2% on average. At the same time, consumer prices excluding energy rose by 1.0%.
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Conflict of Interest Commission Suspends Cases Against PM, Other Officials
ZAGREB, 17 Sept 2021- The Conflict of Interest Commission on Friday stated that it had suspended proceedings against Prime Minister Andrej Plenković and other senior officials after the High Administrative Court and other administrative courts ruled that the Commission could not act on Article 5.
The said article of the Conflict of Interest Act refers to rules of conduct and stipulates, among other things, that office holders are expected to perform their duties in a honorable, conscientious, fair, responsible and impartial manner.
The suspended case dubbed "Lex Agrokor" included Plenković, Finance Minister Zdravko Marić, the Bridge party leader Božo Petrov and a former economy minister, Martina Dalić. The case was opened against Plenković due to a lack of transparency in communication towards the general public during the process of the adoption of the so-called Lex Agrokor law.
The Commission's chairwoman Nataša Novaković said that the suspension was temporary.
In the event that the commission's proposal to the state prosecutorial authorities (DORH) is granted, the cases could be re-opened, however, she admitted that it could not happen soon.
Court rulings pertaining to such cases nix the decisions made by the Conflict of Interest Commission.
The administrative courts have overturned the Commission's decisions in the case of the appointment of Croatian ambassador Igor Pokaz to the U.K., after this case was raised by the Commission due to the fact that Pokaz was Plenković's best man.
The Zagreb-based Administrative Court also ruled in favour of PM Plenković in the case dubbed "Flight to Helsinki", after the Commission accused the premier of failing to provide it with the requested documentation on a visit to Helsinki.
The court also quashed the Commission's ruling against former SDP leader Davor Bernardić, who was granted a scholarship in the amount of HRK 263,000 from a private college in 2014 when he was a parliamentary deputy and the leader of the SDP Zagreb branch.
Novaković said that the Commission had requested extraordinary reviews after its decisions were quashed and the Supreme Court would have the final say.
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