Business
Tuesday, 28 April 2020
Construction of A5 Motorway Within European Corridor Vc Continues
ZAGREB, April 28, 2020 - A HRK 443 million agreement for the construction of the A5 motorway subsection "Beli Manastir - Halašica Bridge" within the pan-European Vc transport corridor was signed on Tuesday in east Croatia. Prime Minister Andrej Plenković, who attended the contract-signing ceremony at the Drava Bridge at Petrijevci, underlined that the strategic importance of the construction of the full-profile 17.5 -kilometre-long section of the motorway. Plenković expressed his satisfaction because the financing from the European Bank for Reconstruction and Development (EBRD) and the Croatian Bank for Reconstruction and Development (HBOR) had been secured for the project. The…
Tuesday, 28 April 2020
Atlantic Grupa Reports Higher Profit Despite Coronavirus Restrictions
ZAGREB, April 28, 2020 - Atlantic Grupa generated a 10.6% increase in profit in the first quarter of 2020 compared with the same period in 2019 despite restrictions to stem the spread of the coronavirus epidemic, the food and distribution company says in its financial statement. The company's profit increased to HRK 89.3 million, and sales revenue rose by 12.2% to HRK 1.28 billion. Earnings before interest and taxes (EBIT) reached HRK 121.3 million, an increase of 15.4% compared with the the first quarter of 2019. CEO Emil Tedeschi said they believe the stable financial position, the historically best results…
Tuesday, 28 April 2020
HUP Asks for VAT on Protective Products to Be Reduced to 5%
ZAGREB, April 28, 2020 - The Croatian Employers' Association (HUP) on Tuesday called on the government to reduce the VAT rate on protective products to 5 percent. HUP welcomed the government's decision to gradually ease restrictions and relaunch economic activity, but warned that protective equipment was essential for numerous businesses that do not have any way of obtaining it, saying that the government should donate such equipment. "We call on the government to donate protective equipment to employers so they can follow the epidemiological measures and resume work after 45 days. Because of the cessation of their operation, businesses did…
Tuesday, 28 April 2020
Unionist Mladen Novosel: No Reason for Croatian Shops to Work on Sundays
As Poslovni Dnevnik writes on the 28th of April, 2020, trade union leaders said after the session of the Economic and Social Council (GSV) that all three trade union headquarters are united in the collective belief that there is no reason for Croatian shops to operate on Sundays, while the minister in charge said the decision could still be reversed. Social partners spoke at a GSV session on Monday in which they discussed the government measures that define economic and business activity until May the 11th, 2020, and presented a national reform programme that the government should adopt on Thursday,…
Tuesday, 28 April 2020
As Services Deal with Coronavirus, Illegal Buildings Spring up in Istria
Coronavirus and everything to do with it has taken precedent, and rightfully so, above almost everything else. But while the backs of communal services and administrative bodies are turned, just what is going on? In Istria, illegal builders have taken advantage of the lack of attention being paid to them, and have begun work... As Poslovni Dnevnik writes on the 28th of April, 2020, for the past month and a half, the ban on working for caterers and those in the hospitality industry, as well as everyone who works offering services has been firmly in place, with eye-watering fines and even…
Monday, 27 April 2020
Unions Against Employers' Demand for Amending of Labour Act
ZAGREB, April 27, 2020 - Unionists on Monday sharply objected to employers' demands for fast-track change of the Labour Act and appealed for support from the government while employers responded saying the amendments are necessary to regulate the "grey zone" in the economy during the coronavirus epidemic. Speaking ahead of a meeting of the Economic and Social Council (GSV), which was convened at the request of the unions, union leader, Krešimir Sever told reporters that the meeting was convened to discuss the easing of the lockdown introduced during the coronavirus epidemic. Sever added that it was more than certain that…
Monday, 27 April 2020
Customer Experience Strategy: Q Experience CEO Domagoj Makar Interview
April 27, 2020 - Work from home companies are on the rise. Meet one Croatian company growing quickly to meet the demand. Interview with Q Experience CEO Domagoj Makar on customer experience strategy and embracing the unique challenges of the current crisis. The world is changing rapidly, and the coronavirus crisis has only accelerated that change in certain directions. Work from home companies are on the rise, and remote work is only going to be more popular as an increasingly digital world takes shape. Shaping a customer experience strategy in this brave new world brings its own challenges. One Croatian…
Monday, 27 April 2020
HNB Releases 1.17 Billion Kuna Through Regular Open-Market Operation
ZAGREB, April 27, 2020 - The Croatian National Bank (HNB) released HRK 1.17 billion (€155m) to commercial banks on Monday, through a regular open-market operation with a one-week maturity and at an interest rate of 0.05%. Regular open-market operations are one of the measures taken by the central bank to increase the liquidity of the banking system for the purpose of maintaining exchange rate and financial stability amid the crisis caused by the coronavirus epidemic in the country. Today's amount is HRK 100 million higher than last week, when HRK 1.07 billion (€141m) was released at 0.05% interest and with…
Monday, 27 April 2020
Provision on State of Emergency Should Be Urgently Added to Labour Act
ZAGREB, April 27, 2020 - A provision on a state of emergency should be urgently added to the Labour Act because of the payment of wages during the coronavirus pandemic, and the regulation of workers' entitlements should be simplified in the conditions of reduced business activity, the Croatian Employers' Association (HUP) said in a statement on Monday. On the first day of relaxed restrictions and ahead of a meeting of the Economic and Social Council, the HUP called on the social partners to discuss urgent amendments to the Labour Act. The coronavirus pandemic has disrupted business activities through no fault…
Monday, 27 April 2020
Croatia's Sales of New Cars in First Three Weeks of April Plunge by 87.4%
ZAGREB, April 27, 2020 - A total of 893 new passenger and light delivery vehicles were registered in Croatia in the first three weeks of April, a decline of 87.4% compared with the same month last year, the Promocija Plus market research agency said on Monday. Between April 1 and 22, only 893 vehicles were registered (698 passenger cars and 195 light delivery vehicles), compared to 7,136 vehicles in April 2019. A total of 12,888 new vehicles were sold from the start of the year to April 22, a decrease of 40% compared with the same period in 2019 when…
Monday, 27 April 2020
Croatian Chamber of Commerce: Croatia Must Rely Less on Imports
As Novac writes on the 26th of April, 2020, one of the lessons during this pandemic that Croatia needs to learn is certainly that it needs to rely more on indigenous resources and reduce its dependence on imports, and this includes the production of energy from renewable energy sources, which is constantly and strongly growing, the Croatian Chamber of Commerce (HGK) has stated. The coronavirus pandemic, on the one hand, has shown what the planet can look like with reduced pollution, and on the other, it has shed light on all of the vulnerabilities of the system and the need…
