Business

July the 24th, 2021 - The Croatian company Podravka has managed to achieve 197 million kuna in net profit, despite all of the issues caused by the ongoing pandemic. As Poslovni Dnevnik writes, the net profit of the Croatian company Podravka in the first half of this year reached an impressive 197.6 million kuna, which is 22.3 percent more than in the same period last year, the company announced on Thursday. At today's meeting, the Supervisory Board of Podravka confirmed the unaudited results of the Podravka Group's operations for the first half of the year, expressing "satisfaction and support for…

July the 24th, 2021 - The wildly popular Museum of Illusions which placed the Croatian capital of Zagreb on the museum map for very many people, is set to make yet another international breakthrough owing to a very welcome cash injection. As Poslovni Dnevnik/Lucija Spiljak writes, the Invera Equity Partners (IEP) private equity fund management company has finalised an investment for the company Metamorfoza, which is behind the well-known educational and entertainment Museum of Illusions concept. This business model is based on the franchise and is present across twenty countries, in 34 cities on four continents, including the likes of…

July 23, 2021 - Opatija is known to be Croatia's "cradle of tourism", hence, it's no wonder that it became home to HUBBAZIA - a centre for creativity and innovation in tourism. This business incubator, co-financed by the European Union, is now accepting applications from start-up companies that have original, sustainable, and creative ideas to further boost tourism entrepreneurship in Opatija. Applications are open until August 5, 2021!  One of the most important (if not the most important) economic branches in Croatia is tourism and through HUBBAZIA, the City of Opatija encourages and attracts young startup companies to open and…

ZAGREB, 23 July 2021 - First estimates show that the extent of the damage inflicted on Croatia's agricultural sector so far this year by natural disasters is HRK 509.2 million kuna, the agriculture ministry's reps told Hina on Friday. These estimates are based on preliminary data collected in the Natural Disaster Damage Registry in compliance with the national legislation on mitigation and removal of consequences of natural disasters. The ministry underscores that the registry does not contain the final data on the reported damage, or the number o businesses and individuals that have been exposed to the disaster. The ministry notes that 20…

ZAGREB, 23 July 2021 - The grave situation in the dairy sector, caused by rising costs due to growing prices of cereals and fodder, has prompted the agriculture ministry to ask the EU for HRK 15 million (€2m) in aid for fodder supplies for local milk producers, the Croatian Chamber of Agriculture (HPK) said on Friday. The HPK said in a press release that representatives of Croatian dairies, the HPK and Agriculture Minister Marija Vučković held talks on Thursday on the serious situation in the dairy sector. One of the conclusions of the meeting is that the ministry should ask the EU…

July the 23rd, 2021 - The Croatian company Asura has contracted a very valuable job in the Macedonian city of Skopje, more precisely in the country's largest shopping centre which promises to be a hit - East Gate Mall. As Poslovni Dnevnik/Darko Bicak writes, Asura Facility Management Skopje, a member of the Croatian Asura Group, signed an agreement recently in the city of Skopje on the management services of the East Gate Mall, which is the largest shopping centre, as they point out, not only in North Macedonia, but also among the largest in Southeastern Europe. Through a multi-year Business Cooperation…

July the 23rd, 2021 - The Novi Marof SPAR supermarket has opened its doors in the truly record time of just three and a half months, making it the 100th SPAR store to open its doors to customers in the Republic of Croatia. As Poslovni Dnevnik writes, in just over three months, which is remarkably quickly for this sort of business operation, especially here in Croatia, the newest SPAR supermarket sprang up at the entrance to the town of Novi Marof, just off the main Varazdin motorway. The new Novi Marof SPAR boasts quite the modern and impressive glass design…

ZAGREB, 22 July 2021 - The main Zagreb Stock Exchange (ZSE) indices rose on Thursday, the Crobex by 0.36% to 1,925 points and the Crobex10 by 0.31% to 1,189 points. Turnover at the close of the trading session was HRK 4.8 million, about 1.1 million higher than on Wednesday. The only stock to pass the turnover mark of one million kuna was that of the Podravka food company, turning over HRK 1.43 million. Its price remained stable at HRK 584 per share. A total of 33 stocks were traded today, with 15 of them registering price increases, 8 recording price decreases,…

July the 22nd, 2021 - The beautiful Central Dalmatian island of Hvar, known as Croatia's premier island, appears to be some new territory to conquer for the well known Valamar Riviera Hotel company. But that isn't all that's on the horizon. As Poslovni Dnevnik/Sergej Novosel Vuckovic writes, the Valamar Riviera Hotel company seems to have selected gorgeous Hvar to be its latest lucrative field - after the existing one hotel and two apartment complexes, a new hotel of the lifestyle genre was opened on the island back at the end of May this year, and it was the first to be…

July the 22nd, 2021 - Five Croatian company owners are seeking not only answers but compensation for their extreme losses incurred owing to lockdowns and limitations from the Croatian Civil Protection Directorate. As Novac/Gordana Grgas writes, five Croatian company owners are refusing to let this issue drop as their very existence was threatened during the pandemic. As such, they have filed a lawsuit against the state seeking compensation for what they claim are discriminatory decisions by the Civil Protection Directorate and inadequate economic measures introduced by the government, funded and logistically supported by the Voice of Entrepreneurs Association (UGP). The amount…