Business

ZAGREB, Aug 23, 2020 - The national statistical office (DZS) will publish a report on Croatia's Gross Domestic Product next week, and analysts are agreed the report will show that the country's economy in Q2 has experienced a record decline due to the coronavirus crisis. Six analysts interviewed by Hina expect the GDP decline to be around 13.9% on the year, with their estimates ranging from 12% to 17%. This will be the first time since mid-2014 GDP has decreased and at the highest rate since 2000, when the DZS started keeping record of these statistics. So far the biggest GDP decline,…

The ongoing coronavirus pandemic has seen many a planned investment grind to a halt or even be flushed down the proverbial toilet, but Pevex (formerly Pevec) is steaming ahead with its investment plans for autumn, regardless of the economic threat the pandemic continues to pose. As Poslovni Dnevnik/Suzana Varosanec writes on the 21st of August, 2020, Pevex has big plans for the cooler months, and the virus isn't going to get in its way. ''The coronavirus pandemic has taught us that we need to act quickly, so we're stepping up the momentum in which we're continuing one of our main…

ZAGREB, Aug 20, 2020 - In 2019 the average pay for 969,776 people working for 136,260 businesses in the enterprise sector amounted to HRK 5,815, which is an increase of 4.2% compared to 2018. An analysis by the Financial Agency (FINA) shows that in three activities with the largest number of employees - construction, wholesale and retail trade, employees received an average pay that was below the national average. There was nevertheless progress in relation to 2018 because in the commercial sector, where 28,800 businesses employ 195,900 workers, wages grew by 4% from 2018 to HRK 5,596, while in the construction…

August 19, 2020 - The 3rd EPIC webinar of the European Patient Experience and Innovation Congress features acclaimed travel guru, Doug Lansky.    The European Patient experience and Innovation Congress, in its adaptation around the world pandemic, is organizing the third EPIC Webinar, “The Patient Journey & Innovation”. Thanks to the organizers, Bagatin Clinic with collaborative international presenter Cleveland Clinic, co-organizers Global Clinic Rating and Stackpole & Associates Inc., partner Elda Pharm, technological partner CISCO and accreditation partner Temos, we can enjoy quality webinars every month. We often look to other industries for clues to improve our own practices. This is…

ZAGREB, Aug 19, 2020 - The slaughter and red meat processing group in the Croatian Chamber of Commerce (HGK) on Wednesday warned of the difficult situation in that sector and called for the continued support from the state, noting that it was high time for the industry to be declared a strategic priority for the country. "The pressure of cheap imports has for years been suffocating Croatia's slaughterhouse and meat processing industry and the coronavirus crisis has added to the pressure on local companies in that sector, the majority of which, closed their slaughterhouses even before these turbulent times," the HGK said in a…

ZAGREB, Aug 19, 2020 - The Fund for Environmental Protection and Energy Efficiency is preparing to receive applications for energy renovation of family homes under an HRK 203 million scheme and individual grants are capped at a maximum of 204,000 kuna. The ministry of physical planning and construction said in a report published on its website on Wednesday that after the government in mid-May amended the programme for the energy renovation of family homes, the fund published a public call for applications for funding under the HRK 203 million scheme.  Applications can be submitted as of 1 September. "The aim of the programme…

Complementary portfolios and technology strengths to ensure continuity, enhance customer value and bring growth opportunities. Zagreb, 19th August 2020 – In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd. today announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. Hitachi will have an 80.1 percent stake in this new joint venture entity (which has annual revenues of approximately 10 billion USD2) and ABB will continue to hold the balance. Toshikazu Nishino, Executive Vice President of Hitachi, will be the Chairman of the new entity and…

As much as 20 percent of Croatia's GDP is made up by tourism as one of the country's strongest economic branches. Given the fact that Croatia is a destination to which many European tourists drive (with the exception of the UK and Ireland, the nationals of which tend to use air transport), Croatian motorways are usually packed at this time of year with license plates from across the continent visible across the country. Owing to the coronavirus pandemic, those same Croatian motorways have experienced expected losses. As Poslovni Dnevnik writes on the 16th of August, 2020, Ivan Ribicic, the director of…

As Poslovni Dnevnik/Suzana Varosanec writes on the 14th of August, 2020, in the first seven months of 2020, the hotel company Jadran from Crikvenica reached 53 percent of last year's turnover in the same period. Given the current state of booking, and in the event that there are no major "shocks", Jadran's management expects that the company's annual realisation will amount to more than 60 percent of last year's turnover. This is obviously the result of Jadran's investment cycle, although the President of the Adriatic Management Board Goran Fabris notes that it must not be forgotten that this is a…

As Poslovni Dnevnik writes on the 13th of August, 2020, in the area of ​​Lika-Senj County, more precisely in Novalja, the construction of a stand-alone photovoltaic power plant worth a massive 10 million euros will soon begin, and it will produce 25GWh of electricity per year. This is a project being undertaken by the company RP Global, which has already made investments in wind farms Danilo in the hinterland of Sibenik and Rudine in the Dubrovnik littoral, and this is their first project of this type in Croatia. The investment should bring about 250,000 kuna a year to the local…