Business

ZAGREB, September 1, 2020 - The Hrvatske Ceste (HC) road authority has signed a HRK 15.9 million /€2.12m) contract with the Spegra and Strabag construction companies for extraordinary road maintenance which includes four viaducts and a tunnel, and the works are expected to be completed in four months,HC said on Tuesday. The works cover four viaducts and a tunnel on the Solin-Klis road in Split-Dalmatia County. Traffic will be redirected for the duration of the works. During the night between Wednesday, September 2 and Thursday, September 3 this road will be completely closed between 9.30 p.m. and 5.30 a.m, HC said.  …

ZAGREB, September 1, 2020 - The European Investment Fund (EIF) and the Croatian Bank for Reconstruction and Development (HBOR) will invest more than €70 million in three venture capital funds in Croatia - Prosperus Growth Fund, Adriatic Structured Equity Fund and Croatian Mezzanine Debt Fund, which will start operating this autumn. The three funds will facilitate access to capital for small and medium-sized enterprises (SMEs) and mid-cap companies and provide an alternative source of funding and more flexible transaction structures, the HBOR and EIF said in a joint statement on Tuesday. As of this autumn, Croatian companies will be able to approach these…

August 31, 2020 - Despite the current Covid-19 situation, entrepreneurs continue to battle and innovate to push through 2020, and for any non-Croatian entrepreneur in Dalmatia, you’ll even get support to do so. Meet TASKFORCOME! Grad Split, in partnership with Udruga CEDRA Split, has announced the launch of weekly one-stop shops to support any migrant (non-Croatian citizen) entrepreneurs start or develop their business this September. The one-stop shops will provide free business-related mentoring and consultancy such as business and marketing strategy, financial planning, product development, and market research. The one-stop-shop will also connect budding and current foreign entrepreneurs to other business…

August the 31st, 2020 - Croatian railways aren't often in receipt of much praise. The train journeys are typically much longer than they should be, and the infrastructure system requires a lot of work. That being said, the Croatian railways investment has been going on since spring this year, and it isn't due for completion until 2022. As Lucija Spiljak/Poslovni Dnevnik writes on the 30th of August, 2020, works on the reconstruction of the Zagreb Zapadni kolodvor - Savski Marof railway have been underway since back in May this year, the value of which amounts to almost 366 million kuna without…

As Morski writes on the 29th of August, 2020, the unexpectedly good results of the tourist season in July and August unfortunately don't apply to Croatian congress tourism. Congress organisers and travel agencies have fared terribly during the coronavirus crisis.  The Croatian congress tourism industry realises its income almost exclusively in the pre- and post-season, which means that in the most intensive period for this industry, the spring months, operations were entirely prohibited, and given the latest measures, the same will happen in once again in autumn. ''Yesterday's decision of the National Civil Protection Headquarters, which was sent to all…

As Poslovni Dnevnik/Ana Blaskovic writes on the 28th of August, 2020, due to the rapid growth in the number of people suffering from coronavirus in the south of Croatia, which Croatia agreed to allow to a certain extent in order to save the tourist season, fitness centres and gyms are among those who will be the first to pay the price thanks to a sweeping decision from the Croatian Government. At the suggestion of the Split-Dalmatia County Headquarters (SDŽ), local measures were tightened and a wider obligation to wear masks was introduced, but only fitness centres had to put their…

ZAGREB, August 28, 2020 - The European Central Bank and the Croatian National Bank (HNB) have agreed to extend a euro liquidity line by six months until the end of June 2021, the HNB said on Friday. The ECB and the HNB established a currency swap in April under which the HNB can borrow up to €2 billion from the ECB in exchange for Croatian kuna. The swap was agreed to, to provide euro liquidity to Croatian financial institutions to address possible euro liquidity needs in the presence of market dysfunctions due to the COVID-19 shock. The euro liquidity line had been agreed initially until…

ZAGREB, August 28, 2020 - A drop in GDP of 15.1 percent has shown that the economy could not withstand another lockdown, the Croatia Employers' Association (HUP) has said, underscoring the importance of preserving jobs, but also providing funds and ensuring liquidity for those hit hardest by the crisis. The national statistical office (DZS) on Friday released its initial estimates, according to which gross domestic product (GDP) in the second quarter of 2020 fell by 15.1% on the year, its first decline since mid-2014. The data on the dramatic decline in GDP, released today, have shown how deep the crisis…

ZAGREB, August 28, 2020 - Due to the consequences of the coronacrisis, Croatia's GDP contracted by a record 15.1% in the second quarter of 2020 compared to the same period last year and analysts expect a record fall in GDP for the entire year but note that the fall could be milder in the next two quarters. The State Bureau of Statistics (DZS) released its initial estimates on Friday according to which GDP in the second quarter fell by 15.1% on the year, falling for the first time since mid-2014. This is also the greatest fall since 1995 when the DZS…

ZAGREB, August 28, 2020 - Croatia's economy in the second quarter of 2020 contracted by a record high of 15.1% compared to the same period last year, this being its biggest fall since Croatia started collecting data on GDP, caused by the coronavirus crisis. The State Bureau of Statistics (DZS) released its initial estimates on Friday according to which GDP in the second quarter fell by 15.1% on the year, falling for the first time since mid-2014. This is also the greatest fall since 1995 when the DZS started collecting data on GDP. Until now, the highest ever drop in GDP was recorded…