Business

ZAGREB, 21 July, 2021 - The volume of construction work carried out in Croatia in May 2021 rose 15.9% compared with May 2020, and it fell by 0.1% compared with April 2021, according to data provided by the National Bureau of Statistics (DZS) on Wednesday. May was the 12th consecutive month to see the rise in the volume of construction work on an annual level. Year on year, the volume of construction work to buildings increased by 18% and the volume of construction work to other structures grew by 13%. Month on month, the volume of construction work to buildings fell by 0.3%, while the…

ZAGREB, 21 July, 2021 - At the end of 2020, 3.45 million Croatian consumers had at least one payment card, which means that of 4.05 million residents, 85% possessed cards for cashless payment,  according to the data provided by the Croatian National Bank (HNB). The HNB's publication on cards and card transactions in 2020 shows that as many as 8.78 million such cards were registered at the end of 2020, which was down by 4.5% compared to the end of 2019. Thus, 85% of the population held at least one payment card, more than 29% held at least two payment cards, and…

ZAGREB, 20 July, 2021 - The main Zagreb Stock Exchange indices increased on Tuesday, the Crobex by 0.43% to 1,923 points and the Crobex10 by 0.33% to 1,185 points, while regular turnover was HRK 5.1 million. The most traded stock and the only one to cross the million kuna mark was the Podravka food company, turning over HRK 1.8 million. It closed at HRK 582 per share, up 0.34%. Thirty stocks traded today, 11 rising in price and 11 dropping, while eight were stable. (€1 = HRK 7.492196) For more about business in Croatia, follow TCN's dedicated page.

ZAGREB, 20 July, 2021 - For May 2021, the average monthly net earnings per person in paid employment in legal entities in Croatia amounted to HRK 7,104, nominally higher by 6.7% and really by 4.5% as compared to the same month last year, the national statistical office said on Tuesday. As compared to April 2021, the nominal increase was 0.3% and the real one 0.2%. The highest average monthly net earnings per person in paid employment in legal entities for May 2021 were paid in Manufacture of coke and refined petroleum products (HRK 10,756), while the lowest were paid in Manufacture of wearing apparel (HRK 4,401). Median net…

July the 20th, 2021 - Croatian bus companies have been among the hardest hit when it comes to the pandemic, as certain agreements for them haven't come to fruition and money is being haemorrhaged left, right and centre. As Poslovni Dnevnik/Darko Bicak writes, although this situation has been going on for some time now, last week, Croatia adopted, somewhat suddenly, a measure to liberalise the bus services market in the country by lifting the cabotage ban. On Tuesday, the Ministry of Maritine Affairs, Transport and Infrastructure issued a Notice on the relevant EU Regulation regulating the transport of passengers in…

July the 19th, 2021 - The wildly successful British-Iranian entrepreneur Ali Parsa is the face behind an enormous Prukljan investment, which the Croatian Government has, at its usual snail's pace, finally given the green light. As Poslovni Dnevnik/Marija Brnic writes, one whole year after submitting the bid in the public tender of the Ministry of Physical Planning, Construction and State Property, and as many as seven years after being included in the list of strategic projects, the Croatian Government finally gave the thumbs up to a bid from the only bidder who applied for the Prukljan project in Skradin. According…

July the 19th, 2021 - There are plans in place and discussions being had about the construction of the largest Adriatic liquefied gas terminal in the the southern Dalmatian town of Ploce. A public hearing on the matter has been opened. As Morski writes, Dubrovnik-Neretva County has opened a public debate on the Environmental Impact Study for the construction of a tanker berth for liquid cargo and liquefied petroleum gas terminals in the port of Ploce by the investor Adriatic Tank Terminal. It is a joint company of the holding company Energija Naturalis and the global trader and logistician VTTI, founded…

ZAGREB, 18 July, 2021- Gross premiums written by Croatian insurance companies in the first six months of 2021 totalled HRK 6.4 billion, which is a 13.1% increase year-on-year, show data released by the Croatian Insurance Bureau (HUO). Gross non-life insurance premiums increased by 13.1% to HRK 4.8 billion, and gross life insurance premiums went up by 13.3% to HRK 1.6 billion. Motor vehicle liability insurance continues to be the most prevalent type of non-life insurance, with gross premiums written in the amount of HRK 1.5 billion, an increase of 17% on the year. Traditional life insurance plans accounted for the…

ZAGREB, 18 July, 2021 - The Croatian National Bank (HNB) Governor, Boris Vujčić, said on Sunday that Croatia's economy would likely reach a growth rate of about 18% in the second quarter of 2021, which was partly due to the low base in the Q2 2020 when the country had experienced a strong downturn. Vujčić told the press in Dubrovnik where he had formally opened the 27th international economic conference, that Croatia's economic activity for the whole of 2021 would likely rebound at a rate of 6.8%, however, the epidemiological situation caused by the COVID pandemic still created uncertainties. Vujčić explained that…

ZAGREB, 18 July, 2021 - At the end of the first quarter of 2021, Croatian citizens' financial assets totalled HRK 545.3 billion, up 8.4% on the year, according to central bank data. Compared with the end of 2020, the increase was 2%. Deposits make up half of financial assets Deposits continued to dominate in household financial assets, exceeding HRK 271 billion and making up almost 50% of those assets, followed by insurance and pensions (over HRK 152 billion), and equity, shares and investment funds (over HRK 100 billion). Financial liabilities HRK 153 bn At the end of March 2021, household financial obligations totalled…