Business

March the 18th, 2021 - An opportunity for Croatian entrepreneurs is coming up on July the 1st this year as EU web store and e-commerce changes are on the cards. As Suzana Varosanec/Poslovni Dnevnik writes, the flourishing of the online world and e-commerce under the influence of the ongoing coronavirus pandemic is continuing to alter the habits of consumers, and thus regulates regulators to simplify procedures, which is exactly the case in the European Union (EU) where the web shop business system is set to be significantly simplified beginning on on the 1st of July. According to auditor Dubravka Kopun,…

ZAGREB, 17 March, 2021 - The main Zagreb Stock Exchange indices slipped on Wednesday by about 0.7%, falling for the second straight day amid a poor trading day of just over HRK 3 million. The Crobex fell by 0.73% to 1,863 points and the Crobex10 fell by 0.68% to 1,172 points. Both indices dropped for the second day running. All sector indices dropped too with the construction index falling the most by 5.93%.  Regular turnover was a mere HRK 3.3 million or 2.2 million less than a day earlier. Not one stock crossed the million kuna mark. The highest turnover…

ZAGREB, 17 March, 2021 - Representatives of the PPDIV agriculture union on Wednesday met with Rovinj Mayor Marko Paliaga, saying afterwards that the story of the future of the Rovinj Tobacco Factory (TDR) "ended well and British American Tobacco (BAT) stays in Croatia." Paliaga thanked the unionists for fighting for TDR workers, the City of Rovinj said in a press release. The Kanfanar-based TDR is owned by British American Tobacco. The unionists thanked the mayor for the cooperation and support in negotiations with BAT on keeping the plant in Kanfanar, following announcements last year that it might be shut down. The…

March the 17th, 2021 - The Zagreb Dok-Ing company has expanded its production to as far away as China, and as such is expecting growth of above ten percent despite the ongoing economic woes plaguing the world. As Poslovni Dnevnik/Suzana Varosanec writes, along with here at home in Europe and in the Middle East, the increasingly pronounced market for the strategic expansion of the Zagreb Dok-Ing company´s business is the vast continent of Asia. They have recently been present in South Korea, and it seems that they will soon enter the demanding Chinese market. If the plans to expand into…

ZAGREB, 16 March, 2021 - The European Commission on Tuesday disbursed €9 billion to seven EU member states, including €510 million to Croatia, in the fifth instalment of financial support to preserve employment during the coronavirus pandemic under the SURE instrument. This is the second instalment this year. Czechia has received €1 billion, Spain €2.87 billion, Italy €3.87 billion, Lithuania €302 million, Malta €123 million and Slovakia €330 million. So far, 16 member states have received a total of €62.5 billion under the SURE instrument in loans which the Commission is taking out on financial markets at the best terms. Croatia received the first…

ZAGREB, 16 March, 2021 - The Croatian Chamber of Trades and Crafts (HOK) on Tuesday said that the National Recovery and Resilience Plan should include trades and crafts. HOK said that a survey of 1,722 HOK members indicates a huge interest in EU grants. Most of them (85%) consider investing in tangible and non-tangible assets to be the most important, notably purchasing equipment and machinery, and upgrading and building new production capacities. The estimated value of projects that would be submitted by the majority of trades ranges from HRK 150,000 to 750,000, HOK said, adding that trades are willing to invest their own funds too.…

March the 16th, 2021 - Cognism, a British-Croatian startup has had a very handsome cash injection thanks to the VC fund of Switzerland´s largest telecom. As Novac/Bernard Ivezic writes, the British-Croatian startup Cognism has received a 12.5 million US dollars in the form of an investment from the VC fund of Switzerland's largest telecom, Swisscom Ventures. This British-Croatian startup expects that the market in the USA will open up again in the next three months, and a similar thing could happen in the UK, but also in other markets across Europe. The last, hitherto known market value of Cognism was…

March the 15th, 2021 - Croatian businessman Mate Rimac, the owners of the Sveta Nedelja-based company Rimac Automobili, has announced that due to a need for more space, the company will be moving to Jankomir. As Poslovni Dnevnik writes, Livno-born businessman Mate Rimac is moving his company to a new space due to the excellent levels of growth he has been experiencing with more and more employees, he announced on his Facebook profile. Earlier on this month, it was announced that Porsche had further increased its investment in Rimac Automobili, increasing its stake in the company to 24 percent. The…

March the 14th, 2021 - The ongoing coronavirus pandemic is the biggest global threat to the event and music industry the world has seen. This industry used to bring the tourism-reliant Croatian economy billions in annual revenue, and now that huge drop is being painfully felt. As Marija Crnjak/Poslovni Dnevnik writes, the pandemic calls into question the survival of the organisation of concerts and music festivals across Croatia, a business that generated at least 4.5 billion kuna in revenue in the years before this crisis struck. In order to enable Croatian residents and the country´s guests to enjoy this very…

March the 14th, 2021 - The Arena Hospitality Group investments keep on going despite the economic woes caused by the ongoing coronavirus pandemic. Hotel Brioni with its impressive 227 premium rooms is due to open its doors to guests this summer season. As Barbara Ban/Novac writes, despite another uncertain tourist season ahead of us, the well known Pula hotel group Arena Hospitality Group (AHG) announced the continuation of its investments and the opening of the completely renovated Hotel Brioni in the beautiful Istrian city of Pula this summer. To complete this investment, this hotel group secured a loan of 180…