Business

As Poslovni Dnevnik writes on the 3rd of November, 2020, the Financial Inspectorate of the Republic of Croatia has issued a decision by which the otherwise popular Zagrebacka banka was found guilty and fined an eye-watering amount. The guilty verdict comes as a result of the supervision of the Croatian National Bank which established that in the period from the 1st of January 2017 to the 8th of November 2019, Zagrebacka banka failed to implement all of the necessary measures, actions and procedures as prescribed by the Law on Prevention of Money Laundering and Terrorist Financing (ZSPNFT). As a result…

November 3, 2020 – As a one-day event in new circumstances, with an emphasis on the online presentation model and a smaller number of participants, the fourth Adriatic Region Investment Forum of health, sports, and tourism will be held in Zagreb tomorrow. The fourth Adriatic Region Health and Tourism Investment Forum will bring together world-renowned experts, entrepreneurs, and investors at the Westin Hotel in Zagreb, to consider exploiting the Adriatic region's exceptional health and tourism potential to become a year-round desirable destination. The Forum will address topics related to the national development strategy of the Republic of Croatia until 2030…

November 3, 2020 – BIRD Incubator, the first specialized incubator for artificial intelligence and analytics in Croatia, wants to attract ambitious teams from all over the world to work and live in Zagreb. A new digital nomad opportunity in Croatia is underway. Namely, BIRD Incubator will be opened in Zagreb, and it will enable teams to develop innovative solutions in the field of data analytics, artificial intelligence, and machine learning. Applications for teams and projects have already started. The acronym BIRD actually means Business, Intelligence, Research, and Development. It is the idea of the Poslovna inteligencija (Business intelligence) company, which…

As Poslovni Dnevnik writes on the 2nd of November, 2020, after receiving a series of non-binding takeover bids from Ledo Plus, Ledo Citluk and Frikom, which together with several smaller affiliates make up the Frozen Food Business Area, the Fortenova group decided to proceed to the next stage of sale. This represents a business takeover of enormous significance in Croatia. "Market testing has confirmed that there is a strong international interest among potential investors in our frozen food business. All qualified non-binding offers come from companies with outstanding investment and operating achievements in the past. We're happy to enter the…

November the 3rd, 2020 - Just how has the ongoing Croatian economic crisis caused by the coronavirus pandemic affected one of Croatia's largest and most successful companies? There's a mixed bag of results. As Novac writes, during the first three quarters of 2020, Valamar Riviera, the largest Croatian tourist company, generated 2.2 million overnight stays and total revenues in the amount of HRK 673 million, equal to 33 percent of the previous year's revenues. At the level of the business year, Valamar Riviera expects to make a net loss, but also achieve a positive cash flow with an operating profit…

November 3, 2020 - Adria Business Network #12, organized by successful entrepreneurs Željka Barišić, owner of Forca Digital Agency, and Kristina Krstinić, owner of MIKRIS Project Management, will be held on November 17, 2020, at 6 pm at the FORUM Zagreb Congress Center, Radnička cesta 50, 1st floor. In the first part of the event, the guest is Jako Andabak, owner of the largest hotel chain in Central Dalmatia Bluesun Hotels & Resorts, which consists of 11 hotels, 4 resorts, and 1 camp where he combines many years of experience and tourist traditions of Brela, Tucepi, Bol, Supetar and Starigrad Paklenica…

ZAGREB, November 2, 2020 - Deputies in the Zagreb City Assembly on Monday adopted reports on the business results of the Zagreb Holding multi-utility conglomerate, the Zagreb Trade Fair Centre and the ZET city transportation company, showing that all three companies operated at a loss in the first half of the year. Opposition deputies, who participated in the assembly's session that was held online, either voted against or abstained from voting on the companies' semi-annual reports. None of the deputies wanted to participate in a debate on the reports. In the period from January to June, Zagreb Holding earned HRK 854…

October 31, 2020 - A closer look at 2020 for Croatia's national carrier, as Croatia Airlines recorded almost 1.2 million fewer passengers and a net loss of HRK 243.5 million. Croatian Aviation reports that Croatia Airlines ends the first nine months of 2020 with a financial result directly affected by the coronavirus pandemic, which caused the deepest crisis in civil aviation history. The epidemiological crisis has drastically reduced the demand for air transport services, which, together with the resulting traffic restrictions, has imposed the need to reduce capacity and drastic cuts in the scheduled flight schedule by reducing crashes, that is,…

ZAGREB, October 29, 2020 - Hrvatski Telekom (HT) on Thursday rolled out a 5G network in Croatia, the first company to do so, initially covering Zagreb, Rijeka, Split, Osijek, Samobor and Sveta Nedelja. With 5G, HT is building a network of the future that will enable the connectivity and automation of a large number of sensors, industrial devices, autonomous vehicles, drones, as well as further advances in telemedicine, the company said in a press release. CEO Kostas Nebis said that the commercial start of the 5G network was a milestone for the company and for the entire telecommunications industry in the…

As Novac/Jozo Vrdoljak writes on the 28th of October, 2020, after the company EVN Croatia Plin received a 50-year concession from Lika-Senj County for gasification of Gospic and Otocac a few months ago, Calcit Lika, otherwise one of the largest companies, is expected to join in with the move. According to unofficial information from EVN Croatia Plin, they are already overwhelmed by user inquiries about possible connection dates. As they pointed out from EVN, their commitment to building a modern and safe gas network has been well recognised, as have all of the advantages and benefits that gas brings to…