Business

ZAGREB, July 1, 2020 - Cromaris sold 956 tonnes of fish and processed products in June, which was 18% more than in June 2019, this leading company in the aquaculture sector in Croatia stated on Wednesday. The sales revenues increased by about 20% this June as against the same month in 2019. In the first half of 2020, the corona crisis slightly affected the level of sales, however, the adverse effect was offset by higher prices. As a result, 2020 H1 business revenues are likely to be similar to the company's performance in the corresponding period in 2019. Cromaris, a member of the Adris Group, introduces itself…

ZAGREB, July 1, 2020 - Contracts for the start of a 105.5 million kuna project to construct a Novi Marof east bypass road were signed in that northwestern Croatian town on Wednesday. The contracts were signed by the Croatian state-run road operator (HC) director, Josip Skoric, and senior executives of the companies that will build the road. Novi Marof Mayor Sinisa Jenkac said at the ceremony that local inhabitants had been waiting for this project since 1987 when the decision on the east bypass road had been made. The infrastructure will defuse traffic jams in the center of the city. The project includes the…

ZAGREB, July 1, 2020 - Economy Minister Darko Horvat on Wednesday said that the investment cycle in Croatia was going on through projects launched by his ministry, research and development projects, and through monitoring entrepreneurs' innovative ideas. He recalled that the government's measures to bail out the economy during the corona crisis and added that entrepreneurs could still use job keeping incentive measures in June through a shorter working week for employers with more than ten employees on their payroll and the grant is in in the amount of HRK 2,000 a month for each worker. That measure has also been foreseen for micro-enterprises…

As Novac writes on the 30th of June, 2020, the Turkish company MB Geothermal is about to realise the very long-awaited construction of a geothermal power plant in Legrad in Koprivnica-Krizevci County, Podravski reports. Just over a month ago, the Croatian Government passed a regulation on quotas to encourage the production of electricity from renewable energy sources and high-efficiency cogeneration. According to that document, twenty megawatts of power have been approved for geothermal power plants, and it is precisely that aforementioned Turkish company which will ask for that much power for its power plant being constructed in Legrad. The Turks…

June 29, 2020 — Tourism accounts for 20 percent of Croatia's economy, but nearly all of the government and public's attention. What about the other industries in the remaining 80 percent? Croatia's tourism industry will find it difficult to generate even 30 percent of last year's revenues. So the country must seek other sources of revenue alongside what citizens working in the EU send back home. Queue the commodities exporters, whose income is from foreign markets. The nation's exporters saw revenues fall in the first four months fell by five percent, to HRK 34.4 billion. They're the sort of numbers…

ZAGREB, June 29, 2020 - Household loans totalled HRK 133.9 billion at the end of April 2020, breaking a month on month growing streak that had continued since the start of 2018, while the annual growth continued, according to data from the Croatian National Bank (HNB). Household loans fell by 1.1% from March 2020 and rose by 4.8% compared with April 2019. The positive annual growth rates have been present since September 2017, showing a tendency to slow in 2020. "Considering the dented optimism, expectations and deteriorations on the labour market, as well as a greater aversion to risk, we…

Croatian entrepreneurship is something that is incredibly difficult for many to wrap their heads around, despite the fact that the country continually produces some incredible minds across all fields. While Croatia does boast some wildly successful ''home grown'' entrepreneurs such as the one and only Mate Rimac, the state and its draconian laws, as well as tiresome procedures and shabby administrative bodies put many a would-be entrepreneur off. As Novac writes on the 26th of June, 2020, in order to encourage residents of Croatia to enter entrepreneurial waters, encourage Croatian entrepreneurship in general and also give existing entrepreneurs the proper…

As Novac writes on the 26th of June, 2020, following the carrying out of the necessary public procurement procedures, the IGH Institute was awarded three new contracts with Croatian roads (Hrvatske ceste) for the construction supervision and reconstruction services of three traffic routes with a total value of around 12.3 million kuna. This is a complete supervision over the construction of a highway of more than six kilometres in length through Karlovac in the direction of Split, which will improve traffic safety and capacity, especially during times of increased summer traffic. In addition, the new road will completely bypass Turanj,…

As Marija Brnic/Poslovni Dnevnik writes on the 25th of June, 2020, a package of measures for Croatian winemakers was adopted which will allocate 38.5 million kuna for wine distillation and 5 million kuna for crisis storage. On the exact day when new data on the number of people infected with the new coronavirus in Croatia were published, Croatian winemakers finally received a bit of very welcome good news from the Government that a package of intervention measures to mitigate the negative consequences of the pandemic on wine sales was accepted. The measures regard the conversion of the existing multi-year national programme…

The Arena Hospitality Group isn't letting the coronavirus pandemic stand in their way when it comes to investments, even though they readily admit that times are indeed currently very difficult. As Novac/Barbara Ban writes on the 24th of June, 2020, all the hopes of Istrian hoteliers are focused on the peak of the season, where they expect that at least a few guests will arrive and that they'll still manage to earn at least something. As we rapidy approach the end of June, this month's results are sadly expected to be very bad. The facilities are open, but many are…