Business

June the 21st, 2021 - Croatian stagnation has once again been forced out into the limelight as the latest competitiveness ranking highlights the country's multitude of shortcomings.  As Poslovni Dnevnik/Ana Blaskovic writes, the second title, and the same action: the global competitiveness scale run by the Institute for Business Development Development (IMD) from Lausanne, Switzerland for 2021, shows the same as a wide range of others - Croatian stagnation in terms of competitiveness. Croatia is ranked an embarrassing 59th in the competition of 64 countries, and all other member states of the European Union (EU) have better results. The moves…

June the 20th, 2021 - The Croatian National Bank (CNB/HNB) has pumped a huge amount into the system for the second time since this year began as the economic situation globally continues to be rocky. As Poslovni Dnevnik/Ana Blaskovic writes, for the second time this year, the Croatian National Bank has needed to intervene in the foreign exchange market to correct the exchange rate of the domestic currency (kuna) against the euro. The central bank bought 120 million euros from commercial banks on Wednesday at an average exchange rate of 7.497346, pumping 900 million kuna back into the Croatian financial…

June the 19th, 2021 - Many are hoping that the Croatian Government's aid and job preservation measures will continue being paid out until the end of the year, and the Croatian Chamber of Commerce (HGK) is one of the loud voices in that particular crowd. As Poslovni Dnevnik/Marija Crnjak writes, the Association of Hospitality Activities of the Croatian Chamber of Commerce is asking that the government measures designed to help enterprises in this sector, which has been among the hardest hit by the anti-epidemic measures in Croatia, continue until the end of the year. The aforementioned Association within the Croatian…

ZAGREB, 18 June 2021 - The Three Seas Initiative Investment Fund  (3SIIF) has so far raised €1 billion to be used for investing in infrastructure projects, a virtual conference organised by the Croatian Bank for Reconstruction and Development (HBOR) heard on Friday. The aim of the conference was to illustrate the features of the 3SIIF and the opportunities it offers in terms of financing infrastructure investments. The fund aims to raise three to five billion euro for this purpose from institutional and private investors, while the goal is to reduce disparities in infrastructure quality in relation to Western Europe as well as…

ZAGREB, 18 June 2021 - As of 1 July tax reliefs are to be abolished in all EU member states for imported parcels with a value of more than HRK 160 (€22) while all parcels delivered from third countries will be taxable, and deliveries are expected to be slowed down, a press conference heard on Friday. As of 1 July all parcels, regardless of their value, that come from third countries and are purchased online will be subject to VAT upon import, the Customs Administration and Croatian Post told the press conference. The director of the Customs Administration, Mario Demirović, said that this…

ZAGREB, 18 June 2021- Croatia's average net pay in April was HRK 7,082, which is an increase of 6.9% on the year in nominal terms and of 4.7% in real terms, according to data released by the national statistical office (DZS) on Friday. Compared with March 2021, the average net wage was lower by 0.8% in nominal terms and by 1.5% in real terms. The highest average monthly net salary per person employed in legal entities for April 2021 was paid in Extraction of crude petroleum and natural gas, amounting to HRK 11,652, and the lowest was paid in Manufacture of…

18 June, 2021 – Mali Ston on the Peljesac Peninsula is famous for its top quality oysters and mussels. But, recent drop in sales is threatening the livelihood of local producers and the Peljesac Peninsula oyster and mussel production as a whole. The Peljesac Peninsula in Dubrovnik-Neretva Country is without a doubt one of the most beautiful parts in all of Croatia. Wine production and the cultivation of oysters and mussels have given it a well-earned international reputation. Traditions that span centuries, beautiful scenery and amazing historical towns and villages have turned Peljesac into one of the most favourite destinations…

June the 18th, 2021 - The much talked about new Rijeka Hilton Costabella Resort is set to open its doors as the summer season rapidly approaches, with high hopes for their first Croatian tourist season, despite the coronavirus-dominated uncertainties which still reign. Kvarner Bay has increased in popularity in terms of tourism over recent years, with many preferring the often more temperate climes in comparison to a very hot and humid Dalmatian summer. The close proximity to Istria is also a bonus, particularly for wine lovers. Not to mention its close connections to be able to visit both Italy and…

June the 18th, 2021 - Croatian entrepreneur Mate Rimac went from being an unknown individual with a dream to the most talked about Croatian entrepreneur of the modern day in the world. Having proven that you can succeed and even do so beyond your wildest dreams here in Croatia, he claims that his only mistake was paying too much attention to what others were doing. As Poslovni Dnevnik/Darko Bicak writes, Rimac Automobili has raised a massive 250 million euros in capital so far, and although they are now considering new options, no decisions have been made yet, said Mate Rimac when…

ZAGREB, 17 June 2021 - Croatia ranks 59th on the latest IMD World Competitiveness Ranking that covers 64  economies in the world. The IMD World Competitiveness Ranking measures the capacity and readiness of economies to manage their competencies to achieve long-term growth, generate jobs and increase welfare. This year, Croatia has moved upward by one place after, in 2020, the ranking covered 63 economies. In the last five years, Croatia's annual positions on this ranking ranged between 59th and 61st place. The latest ranking from the Lausanne-based IMD World Competitiveness Center (WCC) positions Switzerland and Sweden in the first and second place respectively. The ranking…