Business

ZAGREB, 19 May, 2021 - Timely and full reporting on the impact of the coronavirus pandemic on business operations and the materialisation of credit risk in financial institutions is important as some sectors of the Croatian economy are still strongly affected by physical distancing measures, the Financial Stability Council said. The Financial Stability Council is an inter-institutional body that designs Croatia's macroprudential policy. It consists of representatives of the Croatian National Bank (HNB), the Croatian Financial Services Supervisory Agency (HANFA), the Ministry of Finance and the State Agency for Deposit Insurance (DAB). The Council met on Tuesday under the chairmanship of HNB Governor Boris…

May 19, 2021 - The Koncar group began its history 100 years ago in a workshop in Zagreb. Today, it is known as a regional leader in the power industry and in the production of rail vehicles. Apart from becoming one of the largest Croatian exporters and the bearer of innovations, quality standards, and technological progress, the Koncar group has also grown into a symbol of longevity and tradition. As Jutarnji list reports, with an immeasurable contribution to Croatian industry, the Koncar Group has references in almost 130 countries, to date, they have produced and delivered more than 400,000 transformers of…

ZAGREB, 18 May, 2021 - The main Zagreb Stock Exchange (ZSE) indices continued their upward movement on Tuesday.  The Crobex jumped by 0.49% to 1,952 points, continuing its rise for the fourth day in a row, while the Crobex10 gained 0.42% to end the day at 1,207 points, rising for three straight trading days. Turnover at the close of the trading session was HRK 7 million, about 1.9 million lower than on Monday, and three stocks passed the turnover mark of one million kuna. The highest turnover, of HRK 1.4 million, was generated by the stock of the Podravka food company, which…

May the 18th, 2021 - The Croatian economic situation has been picking up throughout the duration of 2021's first quarter, as demonstrated by a rapid assessment of GDP done by the central bank. As Poslovni Dnevnik/Ana Blaskovic writes, the Croatian economic situation accelerated in the first quarter of the year between the two coronavirus pandemic waves, as illustrated by the model of a rapid assessment the country's GDP by the central bank in some new information on economic trends. Industrial production, from 0.8 percent in the last quarter of last year, accelerated to 4.5 percent thanks to the production of…

May the 17th, 2021 - The Italian company Besana, which is otherwise one of the strongest European companies in the production and processing of nuts and dried fruit, is working to further strengthen its position here in Croatia. As Novac/Nikola Patkovic writes, the Italian company Besana is the third strongest European enterprise engaged in the production and processing of nuts and dried fruits. This year marks the 100th anniversary of its work and existence, and it has decided to further strengthen its position in the production of nuts in Croatia, where they have been present for 25 years, but also to…

May the 16th, 2021 - The Croatian agency Irundo, which is one of the leading property management agencies in the country, has signed a cooperation agreement with the Croatian IT company Rentlio this past week. As Poslovni Dnevnik/Lucija Spiljak writes, as was announced, after many years of using foreign PMS and channel manager systems, the Croatian agency Irundo is preparing for the recovery of the domestic tourism sector and the normalisation of travel again, all of which in their eyes will begin with Rentlio - a leading domestic travel-tech company from Zadar. With this partnership, a new phase of the…

ZAGREB, 15 May 2021 - The European Commission on Saturday confirmed having received national recovery and resilience plans from Croatia and Lithuania. The plans determine reforms and public investment projects which each member-country plans to implement with the help of the Recovery and Resilience Facility. The EC has so far received national plans from 17 member-states. It now has two months to determine if the plans contribute to efficiently dealing with all or a significant portion of subgroups of challenges identified in relevant recommendations for individual member-countries in the context of the European Semester. The EC will also determine if at…

ZAGREB, 15 May 2021 - The European Commission has received Croatia's National Recovery and Resilience Plan and Prime Minister Andrej Plenković on Saturday thanked government members and all who worked on the key document for structural reforms and investments. He tweeted that by implementing the reforms, Croatia will ensure more than HRK 47 billion in grants that will contribute to economic growth. Croatia's plan is based on a green and digital economy; public administration and judiciary; education, science and research; the labour market and welfare; healthcare; and post-earthquake reconstruction. The plan covers 77 reforms and 152 investments which, Plenković said earlier, will also make Croatia…

ZAGREB, 15 May 2021 - The World Bank Board of Directors on Friday approved a loan to the Croatian Bank for Reconstruction and Development (HBOR) in the amount of €200 million for the HEAL Croatia Project (Helping Enterprises Access Liquidity in Croatia), the World Bank said on Saturday. The loan will provide liquidity and financial restructuring to firms that have been hit by the COVID-19 pandemic and by the two devastating earthquakes of 2020. "The approval of this Project is very important as it provides support to companies affected by the crisis caused by COVID-19 pandemic, thus ensuring the preservation of jobs…

May the 15th, 2021 - Slovenia's Iskra wants to take over a very well known Zagreb-based company and one of the largest Croatian exporters as the business climate begins gaining some sense of semi-normality back again. As Poslovni Dnevnik/Suzana Varosanec writes, the business climate is gradually recovering, we have learned to live with the coronavirus and the vaccine is here, and for Iskra as well as for many other Slovenian companies, a new wave of development can start. That naturally means greater investments in automation, robotics and new innovative technologies. This was stated by Iskra's Dusan Sesok, whose family-owned company has…