Business

As Novac/Gordana Grgas writes on the 6th of July, 2020, carriers have begun laying off their bus drivers en masse, as was confirmed by the Voice of the Entrepreneurs/Glas Poduzetnika association, recalling a series of unsuccessful meetings and protests to solve the plethora of problems faced by this business in relation to tourism, which arose due to the coronavirus crisis. Calls from some of them, from Dalmatia, through Istria, to Varazdin, confirmed that owners and directors, faced with a dramatic drop in revenue and huge financial obligations owing to bus leasing contracts, are writing or announcing business-related cancellations, and bus…

As Novac/Zlatko Simic writes on the 4th of July, 2020, Milan Majerovic-Stilinovic, head of communications at HDS ZAMP, spoke to Jutarnji list about the coronafund for musicians. Judging by the performances of musicians, the coronavirus pandemic has brought this industry to its knees. Both the known and the unknown have their respective existential worries. What does ZAMP’s data on revenue decline from March to July say? The figures aren't good, because they reflect the situation in which the entire music industry finds itself both here in Croatia and across the world: the total revenues of HDS ZAMP from all sources already…

As Novac writes on the 3rd of July, 2020, the Croatian Agency for Small Business, Innovation and Investment (HAMAG-BICRO) has provided as much as 300 million kuna in loans for Croatian businesses in the cultural and creative industries, and 600 million kuna in the maritime sector as part of the second package of economic measures for entities affected by the coronavirus pandemic. This second sum also refers to transport, transport infrastructure and related activities. New support funds were provided in cooperation with the Ministry of Culture and the Ministry of Finance for the creative and cultural industry, as well as…

ZAGREB, July 4, 2020 - The INA oil company generated the highest revenue (HRK 21.6 billion) among Croatian enterprises in 2019, the HEP power company generated the highest profit (HRK 1.1 bn) and the Konzum retail chain had the highest number of employees (9,362), according to a preliminary analysis by the Fina financial agency. Fina processed annual financial statements submitted by June 30 by 131,701 enterprises that pay profit tax, excluding banks, insurance companies and other financial institutions. The preliminary analysis (not all statements have been processed) shows that last year enterprises generated nearly HRK 790 billion in consolidated revenues,…

As Novac/Vedran Marjanovic writes on the 2nd of July, 2020, coronavirus threw a spanner in the works for many, but the pandemic failed to hinder Hrvatska elektroprivreda (HEP) in its investment plans. Moreover, this year will be a record year in the company's history with investments of 4.9 billion kuna, said HEP's Frane Barbaric at a recent presentation of eleven of HEP's new investments in solar power plants. ''We're one of the largest investors in the country and a driver of economic development. Last year alone, we exceeded our investments when compared to the previous year by more than 40…

HBOR will send a direct notification to the the beneficiaries of its direct loans on the conditions for extending the moratorium and the consent form that the loan beneficiaries will need to submit to HBOR. As Poslovni Dnevnik writes on the 2nd of July, 2020, since business of varying kinds is still affected by the coronavirus epidemic, HBOR has extended its moratorium. All of HBOR's clients are allowed to use the moratorium for up to seven months, ie until the 30th of September, 2020. For clients who have a positive COVID score according to the FINA methodology (or can otherwise…

July 2, 2020 - In line with the new world circumstances, European Patient experience & Innovation Congress also decided to move their gatherings online. For this reason, once a month until February 2021, there will be one webinar which will talk about health and innovation. The first webinar was held in June with the topic New Markets, New Patient Expectations, with excellent speakers Irving Stackpole (Stackpole & Associates, Inc.) & Elizabeth Ziemba (Medical Tourism Training). For all of you who did not participate, you can watch a video of the webinar here. July 9th at 2020 at 1:00 PM EDT / 6:00 PM…

ZAGREB, July 2, 2020 - In May 2020, Croatia was among five EU member states with the highest increase in unemployment compared to April, the EU's statistical office, Eurostat, said in a report on Thursday, reflecting the economic consequences of the coronavirus pandemic. Many European countries are trying to prevent job losses with special job keeping measures or forced leave or a shorter working week. At the same time governments have started gradually relieving lockdown measures and enterprises have begun operating and employing again. Eurostat underscored that the COVID-19 pandemic has resulted in an unprecedented situation on the labour market…

ZAGREB, July 2, 2020 - The Fortenova Group, the successor to the Agrokor food and retail conglomerate, earned HRK 24.8 billion in non-consolidated revenues in 2019, an increase of 3.6% compared with 2018, and the good trend continued in the first quarter of 2020 when its non-consolidated revenues grew by 8%, the company said on Thursday. Presenting the results of last year's operations to holders of depositary receipts, the Fortenova Group highlighted the growth of the two most important performance indicators in 2019 - total revenue and EBITDA, along with strong liquidity reserves thanks to which it entered the year 2020 with a cash position of…

As Novac/Filip Pavic writes on the 30th of June, 2020, Mate Rimac, Croatian entrepreneur and the owner of the well known Rimac Automobili discussed investments and Croatia's apparent obsession with EU funds at a recent virtual forum. ''We’re all looking at this European bag of money and trying to grab a bit of it, and that’s a problem. I think we expect too much from EU funds and that we invest too much time and effort in withdrawing that money, instead of turning to building our own businesses and seeking private investment,'' said Mate Rimac at the first virtual "European…