Business

March the 7th, 2021 - The ongoing coronavirus crisis is difficult to manage even for banks as Croatian companies require moratoriums on loans and credit taken out. As the tourist season approaches, Zdenko Adrovic, the director of the Croatian Banking Association, says that banks are quietly hoping that such extensions will become a thing of the past. As Novac/Marina Klepo writes, with the beginning of the tourist season, when Croatian companies working in the field of tourism and transport start generating income, the Croatian Banking Association believes that their creditworthiness will increase and that there will be no additional need…

March the 7th, 2021 - The number of Croatian private rental owners has seen a decrease as a result of the ongoing coronavirus pandemic and the stringent leisure travel restrictions that have come with it. Their Association is seeking measures to ease things for those in this business. As Novac/Jozo Vrdoljak writes, in Split-Dalmatia County, the number of Croatian private rental owners decreased by as much as 11 percent, and in the City of Split itself, by almost 15 percent. This information was presented at the online session of the Family Tourism Association Section of the Croatian Chamber of Commerce -…

March the 6th, 2021 - A new Krizevci settlement is springing up which will house those working for a Turkish company which is constructing the railway line to the Hungarian border. As Poslovni Dnevnik writes, just in front of Krizevci, a workers' settlement being built by the competent Turkish company is being erected. This will be the home of those working on the construction of the brand new railway, which Croatia desperately needs, stretching all the way to the Hungarian border. The project is otherwise worth a total of 2.5 billion kuna. This new Krizevci settlement consists of about twenty…

March 5, 2021 - Valamar Riviera's social partners, led by the Croatian Trade Union of Tourism and Services and the Trade Union of Istria, Kvarner, and Dalmatia, supported the continuation of the Valamar 'Pause, Restart' program to preserve jobs in the coming year. T.portal reports that the 'Pause, Restart' program has been in force since March last year with the support of social partners, Valamar employees, and government measures. The new agreement was signed for one year and will be in effect from April 1, 2021, to March 31, 2022. The 'Pause, Restart' program provides compensation in the amount of…

March the 5th, 2021 - If you read the Croatian headlines, you´ll notice the trend of doom, gloom and everything is terrible. It isn´t quite so. There are many entrepreneurial stories up and down the country gaining both traction and deserved success, and the Zagreb agency Five is just one of them. As Telegram/Ivan Luzar writes, the Zagreb agency Five, by this point already very well known as one of the most successful startups from Croatia, has been sold for an enormous amount and is becoming part of the international Endava software group. The amount of the transaction stands at…

March the 5th, 2021 - Jadran Crikvenica stood out during a difficult 2020 for its continued business expansion despite the less than favourable economic circumstances which saw many other companies shelve planned investments and put their keys in their locks. How do things stand now? As Poslovni Dnevnik/Suzana Varosanec writes, the Crikvenica-based hotel company Jadran was saved from bankruptcy´s proverbial jaws. After that, and after going through all of the associated pre-bankruptcy agony, it was privatised under the ownership of two pension funds and is currently facing a unique challenge, very well known in the Croatian hotel industry to smaller…

March the 5th, 2021 - The Croatian Submarine company has been spotted by the Financial Times and its impressive reach of sixteen million people around the world. As Poslovni Dnevnik writes, the Financial Times (FT) a leading and highly respected publication which deals with all things related to politics and finance and has been around for more than 130 years now, has turned the spotlight on no less than the Croatian Submarine. "In the autumn of 2020, we were contacted by the London office of the Financial Times. They requested documentation related to our business, for the purpose of possible…

March the 4th, 2021 - Croatian travel agencies have been by far the hardest hit by the ongoing coronavirus pandemic as travel for tourism and leisure remains almost impossible. Luckily, but following many appeals, the Croatian Travel Agency Association has finally been heard by the government and state aid is on the way. As Poslovni Dnevnik writes, the Croatian Travel Agency Association (UHPA) has welcomed the recently announced decision of the Croatian Government to include tourist agencies in the measures for state aid/compensation for endangered economic activities. Although better late than never, it is difficult to understand how those representing…

March the 3rd, 2021 - The ongoing coronavirus pandemic has ¨stolen¨ more than one billion euros out of the pockets of the Croatian hospitality industry, with harsh anti-epidemic measures still dramatically limiting the work of such facilities. As Jadranka Dozan/Poslovni Dnevnik writes, back at the very beginning of this week, the terraces of restaurants and cafes finally came back to some form of life. Although due to space constraints, many working in the Croatian hospitality industry have said over recent days that it is doubtful how profitable this form of re-opening will actually be for them as they may only…

March the 3rd, 2021 - The Croatian HBOR and the European Investment Bank (EIB) are set to take things up a notch and strengthen their cooperation amid the ongoing pandemic. As Poslovni Dnevnik/Ana Blaskovic writes, the Croatian Bank for Reconstruction and Development (HBOR) has signed an agreement with the European Investment Bank on financing the development and implementation of investment advisory services worth more than 670 thousand euros in total. The Croatian HBOR thus received the support of the European Investment Advisory Hub (EIAH), which will enable it to strengthen the capacity of its advisory services and technical assistance to the…