President Milanovic Lays Wreath at Ovcara Memorial
ZAGREB, November 18, 2020 - On the occasion of Homeland War Victims Remembrance Day and Vukovar and Skabrnja Victims Remembrance Day, Croatian President Zoran Milanovic on Wednesday paid his respects to the sacrifice of Vukovar by laying a wreath at the Ovcara memorial site.
In addition to the President, the Chief of the General Staff of the Croatian Armed Forces, Admiral Robert Hranj, and presidential envoy Lieutenant-General Marijan Marekovic also laid wreaths.
Milanovic did not give a statement to reporters.
In Skabrnja, on behalf of the president, his envoy, Dragan Lozancic, took part in today's commemorative events.
A Few Thousand People Attending Vukovar Procession
ZAGREB, November 18, 2020 - Several thousand people, who arrived in Vukovar from various parts of Croatia and neighbouring countries on Homeland War Victims Remembrance Day, took part in the traditional Remembrance Procession on Wednesday morning.
The participants were separated in several groups being led by flag bearers.
In the past days, epidemiologists recommended that the number of participants in the procession in Vukovar should be capped at 500 and that anti-COVID measures including wearing masks and keeping a distance should be respected.
Some participants in the procession failed to keep a distance, however, large groups were separated by the flag bearers. Also, anti-COVID monitors distributed protective masks to those who were without them.
At the beginning of the procession, participants were asked to adhere to the restrictions.
In Vukovar, Prime Minister Andrej Plenkovic, Parliament Speaker Gordan Jandrokovic, Deputy Prime Minister Boris Milosevic, and some other officials took part in the procession.
President Zoran Milanovic laid a wreath at memorial site at Ovcara on Wednesday morning.
In Skabrnja, commemorative events were also held, however, this year, there were considerably fewer participants than on the occasion of previous anniversaries due to the epidemic of coronavirus.
BSTN Store x Adidas Celebrate Balkan Basketball Culture with Exclusive Jugoplastika Sneaker
November 18, 2020 - To celebrate the European basketball dominance and tradition of the Balkans, premium sportswear and sneaker store BSTN Store has partnered with Adidas to honor Jugoplastika, the cult Split basketball club which rose to European basketball fame in the late eighties and early nineties when they were three-time European champions. Introducing the exclusive Jugoplastika sneaker.
The Tuesday launch of the exclusive Adidas Forum High certainly surprised fans who hold the famous Split club, once the flagship of Croatian and European basketball - in their hearts.
"Basketball royalty. Our upcoming edition of the legendary Adidas Forum is paying homage to one of the most dominant teams of all time!" BSTN teased on their Instagram before officially launching the Jugoplastika sneaker.
"It’s a Euro thing! An exclusive version of the Adidas Forum High that celebrates the unmistakable basketball culture of the Balkans!"
"Introducing the strictly limited BSTN x Adidas Forum High, celebrating the European basketball dominance and tradition of the Balkans. The shoes are part of an exclusive twin-pack (also including an Adidas Forum Low) that is available free of charge via a special BSTN Charity Raffle that is live now on raffle.bstn.com! Enter before Friday, November 20th for a chance to win!"
The sneakers are white with blue and yellow details, and on the heel is the inscription 'Jugoplastika.' There is a limited number available that can be won in a raffle on the BSTN Instagram page.
But this isn't only about the sneaker.
"The exclusive BSTN x Adidas Forum “Ćevape & Fries” Twin-Pack is celebrating the unique characteristics of the US and the European basketball cultures and their unifying love for the game. A one-of-a-kind six-piece pack (featuring the Adidas Forum High and Low, two gym bags, and two water bottles) is available free of charge through a special charity raffle and only at BSTN. Make sure to complete all four steps and enter before Friday at noon - raffle.bstn.com!"
The Split club was named Jugoplastika after the former factory, which annually produced 4.5 million sports items for Adidas. The biggest club successes are related to the generation of Toni Kukoč and Dino Rađa in the late 80s when Božo Maljković created the best European team of all time.
Fun fact: Did you know that Jugoplastika was also one of the key suppliers of the automotive industry, not only the domestic Zastava, but also the French manufacturers Citroen and Renault, the Italian Fiat, the Russian Lada, the Romanian Dacia, and the German Volkswagen?
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Vukovar Remembrance Day 2020: Experience the Heroic City with Augmented Reality
November 18, 2020 - To mark Vukovar Remembrance Day 2020, visitors have the opportunity to experience a virtual exhibition set up in the heroic city using augmented reality.
HRTurizam reports that at selected GPS locations in the center of Vukovar and near the Water Tower, visitors can use their mobile phones to see photos of the formerly destroyed city and short videos depicting the city's tragedy and the people in the area around them.
You can currently view historical images of Vukovar only in Vukovar. However, the technology developed by Croatian engineers at Equinox Vision enables installing similar materials around the country and the world via the Equinox XR mobile application.
The founders of Equinox, Ivan Voras, and Saša Ilišević, were born in Slavonia, and the Water Tower was where they spent part of their carefree childhood. They both live and work in Zagreb and have developed technology that allows both visitors to Vukovar and their citizens to watch historically significant moments of the city whenever they want through their platform using augmented reality.
“This virtual content is integrated into the environment in a way that is seen together with the environment. The content is reminiscent of holograms from science fiction movies and allows you to compare the current situation with the situation that existed when the photos and videos were taken," said the founders of Equinox Vision.
It is an Equinox XR platform that aims to enable the mass placement of interactive augmented virtual content with social network elements rather than a solution for an individual client, which is a significant difference.
This is a unique opportunity to compare the look of locations before and after like never before. The virtual exhibition was set up without profit, donated by Equinox Vision, and the Vukovar City Museum donated part of the visual materials.
Locations in the city, such as Radnički dom, Frankopanska Ulica, Jean Michel Nicoliera bridge, are enriched with the contents seen with the Equinox XR mobile application.
After downloading the application, user registration is optional, and in any case, it is necessary to select "Vukovar" from the content menu.
If you can't make it to Vukovar, the company's YouTube channel has published videos directly from mobile phones that show the virtual exhibition and how it is viewed.
The exhibition currently has no expiration date and will remain visible until further notice. In addition to the exhibition in Vukovar, the mobile application authors intended to set up similar virtual content in Croatia for Advent this year.
If you are going to Vukovar, be sure to give it a try. The Equinox XR mobile app is free and available for Android and iPhone devices.
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Flights to Croatia: Eurowings Boosts Traffic to Croatia in December!
November 18, 2020 - The latest news for flights to Croatia as Eurowings boosts traffic to Croatia in December.
Croatian Aviation reports that Eurowings has announced its flight schedule for December this year, in which there are operational changes on the routes to Croatia.
With the end of the summer flight schedule at the end of October, Eurowings withdrew from Pula, Rijeka, and Zadar, leaving only two destinations active in the winter months - Zagreb and Split.
The airline announced four flights a week on the routes to Zagreb for November, but they operated fewer, only twice a week, due to reduced demand.
During the holidays, Eurowings increases traffic to Croatia
During the Christmas and New Year holidays, Eurowings plans to increase its presence in Croatia. Given that many Croatian citizens live in Germany and want to come to Croatia just in time for the holidays, this increase in traffic certainly makes sense. And Eurowings is not the first to announce an increase in flights at this time of year.
On the Stuttgart - Zagreb line, Eurowings currently operates twice a week, on Fridays and Sundays. From December 23, 2020, to January 6, 2021, another flight per week is added, on Wednesdays.
The Zagreb - Cologne line currently operates two flights a week, on Fridays and Sundays. From December 21, 2020, to January 6, 2021, they have added two more flights a week, on Mondays and Wednesdays.
Eurowings will increase the number of weekly flights to Split, temporarily introducing another route
The Split - Dusseldorf line currently operates once a week, on Saturdays. From December 23, 2020, to January 6, 2021, another flight has been added, on Wednesdays.
The Split - Stuttgart line currently operates twice a week, on Mondays and Fridays. From December 22, 2020, to January 10, it will operate three times a week, on Tuesdays, Thursdays, and Sundays.
Eurowings will temporarily introduce the Split - Cologne line, which will operate twice a week, on Tuesdays and Sundays, from December 22, 2020, to January 10, 2021.
Increasing traffic to Croatia just in time for the holidays was an expected move by Eurowings. Apart from direct destinations, passengers will make excellent connections to other German cities, such as Hamburg and Berlin.
Recall that German Lufthansa has canceled the Munich - Zagreb line, and it will not operate from December 1 to the spring of 2021.
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Croatia U-21 Side Secures Spot at 2021 European Championship!
November 18, 2020 - After a turbulent but successful journey through the qualifications, the Croatia U-21 side will play at the 2021 UEFA European Under-21 Championship!
After a huge victory against Lithuania in Pula (7:0) and Greece’s victory against Scotland (1:0), the young Vatreni won second place in the qualifying Group 4 for the European Championship, and the results in other groups allowed them to place among the five the best runners-up.
Before the final round, Croatia was in a difficult, almost hopeless situation. After they played 2:2 in Scotland and the Czech Republic defeated Greece, it was clear that Croatia lost their chances for first place.
The only hope for qualifying for the Euros was to get through among the top five runners-up. However, coach Igor Bišćan's side did not depend only on themselves, but on other matches' outcome.
In the end, it all came together.
First of all, Croatia had to beat Lithuania in Pula with three or four goals to have the best possible goal differential.
Although Croatia played without Adrian Šemper, Joško Guardiola, Borna Sosa, Darko Nejašmić, Sandra Kulenović, Lovro Majer, David Čolina, and Bartol Franjić, they still beat Lithuania 7:0.
Croatia also needed a victory for Greece in Athens against direct rival Scotland, who needed a victory to win first place in the group. Greece celebrated 1:0, thus pushing Croatia to second and Scotland to third.
With the victory in Pula and Scotland's defeat, Croatia won second place in the group behind the Czech Republic but had to wait for the outcome in other groups to find out if it will be one of the five best second-placed national teams.
Among the five were certainly Portugal and Switzerland, and almost certainly Iceland, whose match against Armenia was canceled.
Croatia, Belgium, Romania, and Poland fought for the remaining two places. With a convincing victory against Lithuania, Croatia overtook Poland, but they still needed a Belgium mistake against Bosnia and Herzegovina or Romania against Denmark.
Croatia was helped by the young BiH team, who beat Belgium 3:2 in a great match in Sarajevo.
Croatia will thus play in the group stage from March 24 to 31, 2021, and if they pass the group, they will play in the second round of the European Championship from May 31 to June 6, 2021.
Croatia played at the European Championship in 2000 and 2004, and at the last edition in 2019, in Italy and San Marino.
In addition to the hosts Hungary and Slovenia, the national teams of Croatia, Russia, Switzerland, the Netherlands, Denmark, Spain, England, France, Italy, Portugal, Germany, and the Czech Republic, which took first place in Group 4, have so far won visas for the European Championship.
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How Many Croatian Nationals Would Utilise New Coronavirus Vaccine?
November the 18th, 2020 - With the excellent news surrounding the new coronavirus vaccine which is now in its final stages, just how many Croatian citizens would be willing to vaccinate themselves against the novel coronavirus, SARS-CoV-2? A new survey has revealed some interesting responses and figures.
As Poslovni Dnevnik writes, of those asked, thirteen percent of respondents have stated that they will definitely get vaccinated against the new virus which took the world by storm this year, while thirty percent stated that they are likely to do so. However, as many as 36 percent of respondents are unlikely to be vaccinated while 21 percent have claimed that they certainly will not obtain the new coronavirus vaccine for themselves.
Those who do agree to the vaccine would be vaccinated out of responsibility to others, as well as because that would suppress the infection itself, giving the virus less healthy people to infect and as such slow it down. Some of them would vaccinate against SARS-CoV-2 as a precaution, and some of them would do so out of not wanting to infect the elderly, those with underlying conditions and complications or members of their families.
A quarter of the respondents will be vaccinated because they are older and because it is a recommendation of the profession for them to protect themselves in such a manner.
Those who would not get vaccinated have claimed they'd avoid it because they don't believe in the new coronavirus vaccine, and some people are afraid of potential side effects. One in three people who oppose the vaccine believe that the vaccines are generally unsafe and have unwelcome health consequences.
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Croatian AGRIVI Draws 30.2 Million Kuna for Further Global Expansion
As Poslovni Dnevnik writes on the 18th of November, 2020, AGRIVI, a Croatian agro-technological company that has developed a globally leading platform for agricultural production management, has been provided with additional financing, namely, HRK 30.2 million in Series A financing, whose holders are the South Central Ventures Investment Fund (SCV) and the European Investment Fund, and the Croatian Bank for Reconstruction and Development (HBOR).
In addition to the aforementioned, Fil Rouge Capital and AgriTech Hub also participated in this round of financing. The funds will help Croatia's AGRIVI expand its market reach to key more European markets and even to the United States.
The AGRIVI solution is one of the most complete platforms for managing agricultural production globally and helps farms and agri-food companies to achieve economically and environmentally sustainable agricultural production, which is of enormous importance in current times.
This new round of financing continues into an extremely successful period for AGRIVI, during which it recorded rapid growth in the number of clients, strengthened key managerial positions and gained greater market recognition and momentum, and all that at a time when the food and agricultural sectors are in increasing public focus. Key analytical reports position AGRIVI among key global leaders in farm management. Their user portfolio has grown significantly and today it includes very large brands such as Nestle, Driscoll’s, Kimberly-Clark and BNP Paribas. In addition, the consulting firm EY has recommended AGRIVI solutions as a quick-return project for all countries looking to increase the sustainability of their local production and reduce their impact on climate change.
"AGRIVI has made impressive progress since our first investment back in 2016. They've positioned themselves on the map of the world's leading agro-technological companies as one of the leading platforms for agricultural production management. I'm delighted that the European Investment Fund also recognised the opportunity and participated in our first direct joint venture. I'm convinced that the funds of this round of financing will enable AGRIVI to further accelerate its activities in several business areas and thus increase its contribution to the production of healthy food,'' stated Jure Mikuz, a partner in the South Central Ventures fund.
''The strong progress we've made and the outstanding clients we support have prepared us for the next phase of our growth. We're grateful to South Central Ventures, the European Investment Fund, the Croatian Bank for Reconstruction and Development, Fil Rouge Capital and AgriTech Hub for supporting our mission to digitise global agriculture. Recent events around the world have attracted additional attention to the food and agricultural sectors, so investor interest in AGRIVI is enormous, which is why we're considering expanding our circle and realising additional funding,'' added Matija Zulj, CEO and founder of AGRIVI.
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Investors Can Now Invest in Best Slovenian Shares in Croatian Kuna
As Poslovni Dnevnik writes on the 17th of November, 2020, the listing of the first two ETFs or exchange traded funds has finally started on the Zagreb Stock Exchange. This news was announced half a year ago by the head of Hanfa, Ante Zigman, confirming that Hanfa had received a request for approval of the listing prospectus. This means that the best Slovenian shares can now be invested in in the Croatian national currency.
The first Croatian listing of "exchange traded funds", whose shares are traded on the stock exchange as well as all other shares, was taken care of by the InterCapital group, ie its asset management company (ICAM).
One ETF will be linked to CROBEX 10tr, ie the index of the 10 most liquid shares on the ZSE, and the other to its Slovenian counterpart, SBITOP, which includes the 11 most traded Slovenian shares, often referred to as the best Slovenian shares.
An effective instrument
As the ETF usually monitors the performance of the selected stock index, this marks a type of passive investment, which makes this product especially suitable for small investors who want to invest in the shares of the best companies, but don't have enough knowledge and other resources to invest in individual stocks.
A similar argument usually accompanies "classic" index funds, but primarily due to technological features, investing through ETFs is, among other things, far simpler, so ETFs have been the fastest growing segment of the asset management industry globally for a long time.
In the thirty years since the first ETFs appeared in the world, their number to date has exceeded 2,300.
Industry associations, on the other hand, estimate that in the next five years, their assets will exceed those of actively managed traditional funds, according to ICAM. With about 15 years of experience in this business and about three billion kuna of assets under management, they are known as the leading independent "asset manager" here in Croatia, and with this recent very significant step forward, they say, they're opening a new page in terms of doing business.
Although the stock industry in Croatia has seen far better days, especially in the segment of equity funds and when it comes to small investors whose confidence has been shaken considerably in the economy-rattling case of Agrokor, InterCapital believes that things could change with the benefits provided by ETFs as a cost an effective financial instrument.
They hope that Croatian investors, in addition to simply entering and exiting the ETF or the fact that the dividends it collects are non-taxable, will recognise the opportunity to buy the best Slovenian shares in kuna through the ETF, see the opportunity to buy the best Slovenian shares in Croatian kuna, without the need to hire a custodian, exchange kuna for euros and pay withholding tax in neighbouring Slovenia.
They also take into account the fact that the launch of ETFs on the stock exchange comes at a time of historically low interest rates. Stock yields from the CROBEX10 or SBITOP index over the past 10 years support such expectations.
For example, those from CROBEX10 in that period paid an average annual dividend of 4 percent of the investment, while the dividend yield for Slovenian shares in the same period was 5 percent. This year, which has been marked by an ongoing global pandemic, the dividend yield of the CROBEX10tr index is 1.5 percent, and the SBITOP index 4.2 percent.
"Guided by our mission to develop the domestic capital market through innovation and the application of international asset management industry best practices, we've developed a product that we firmly believe will be extremely attractive to all potential investors," said Hrvoje Cirjak, ICAM Board Member.
He added that their intention is to list the same two funds over on the Ljubljana Stock Exchange next year, which will enable the ease of investing in Croatian shares for Slovenian investors. With the listing of the first ETFs on the ZSE comes new terms such as indicative NAV (iNAV).
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Croatian Nanobit's Sale to Swedish Stillfront Will Continue Growth
The sale of the Croatian Nanobit to the Swedish Stillfront Group, which went for a price of almost one billion kuna, is in the competition of the economic venture of the year, ie the acquisition of the year.
As Poslovni Dnevnik/Tanja Ivancic writes on the 17th of November, 2020, the Croatian Nanobit was built for a full twelve years by two of its founders, Alan Sumina and Zoran Vucinic, in order to reach the moment when it was necessary to decide whether to sell it or not. To briefly recall, they started out with a fitness app, then spotting space for growth in the gaming sector.
Until then, gaming was reserved for professionals, and what they realised was that everyone else wanted to play, optionally, just for fun. It was this segment that they then decided to cover because ''casual'' pastime games were few and far between and they were poorly made. Thus, the Croatian Nanobit has grown into a prestigious company in the mobile game market.
In twelve years, the Croatian Nanobit has grown to 125 highly educated employees, their games have been downloaded more than 145 million times in total, and are played by more than 10 million active players worldwide on a monthly basis.
What crowned their success is their extremely successful sale for almost one billion kuna to the Swedish Stillfront Group.
Namely, the Swedish Stillfront, whose headquarters are in Stockholm and which is publicly listed on the Nasdaq First North Premier Growth Market, will pay 100 million US dollars in the first tranche for 78 percent of Nanobit shares, and after two years will buy the rest of Nanobit at a price that will depend on the movement of profit before interest, taxes, depreciation and amortisation (EBITDA) of Nanobit in the financial years 2021 and 2022.
The right move at the right time
The total amount Stillfront will pay at the end of the transaction will be up to 148 million dollars. The company, founded back in 2010, has so far had 14 gaming studios in Germany, Malta, Ireland, Sweden, Romania, Canada, the United Arab Emirates, Bulgaria, the United States, Austria, Vietnam and now here in Croatia.
Their active portfolio includes 40 games mostly from three areas, strategy, simulation and action role play. When asked why they decided to sell, and not to further their own independent development, Alan and Zoran answered: ''The industry in which we operate is very rough when it comes to competition and there is indeed a real struggle in the global market. It's currently rapidly consolidating and the choice was to join those who will develop the company further or be left on our own against them all. We believe that this was the best we could have done and at the right time, and the situation with the coronavirus crisis also worked to contribute to this move. "
They say from the Croatian Nanobit that they didn't fall for the first offer and that they had at least a few bidders every year. What was almost crucial for them was that the company stays here in Croatia and as such the high autonomy in decision-making remains here too. That's what they achieved. By joining the Stillfront group, Nanobit will gain additional momentum that will allow them to continue growing, developing new ambitious plans and projects.
They're looking forward to cooperating with others within Stillfront, which, they say, will further accelerate the development of both the Croatian Nanobit and the Swedish Stillfront Group, and Nanobit's employees will have the opportunity to work with some of the best in the world, say Alan Sumina and Zoran Vucinic.
When they say ''cooperate'', they mean that Nanobit's employees have the opportunity to grow and develop themselves, because about 95 percent of their employees have been there since day one and have learned and mastered everything they know at Nanobit.
Since five percent of Nanobit's shares are in the hands of the company's employees, another 20 Nanobit employees will become richer for a large amount of money with this transaction and the move of the founders of Nanobit. They have realised their options on contracts and sold their shares, and conditionally speaking, some of them will become millionaires when the purchase of the entire Nanobit is completed.
It's also worth mentioning, as was announced by the new Swedish owners, in the first half of 2020, Nanobit recorded a rapid increase in revenue to 236 million kuna with an operating profit of 44 million kuna. By the end of the year, they say, the Croatian studio is aiming for revenue of around 460 million kuna in total.
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