Business

As Novac/Kresimir Zabec/Dora Koretic writes on the 26th of November, 2019, investment in Croatia, while sometimes tricky, is on the rise. As much as three billion euros have been invested in Croatian transport infrastructure projects over the last few years, and even more could be made available in the next period by EU funds, Transport Minister Oleg Butković announced at the 7th Congress of the Croatian Road Society - VIA VITA in Opatija recently. However, in order to use and properly implement these funds in time, the Public Procurement Act needs to be urgently amended, Butković pointed out. ''The biggest…

ZAGREB, November 27, 2019 - The government on Tuesday sent to parliament for a second reading amendments to laws from the fourth tax reform round which envisage 2.4 billion kuna in tax relief. Under amendments to the Value Added Tax Act, the general VAT rate would remain 25% and a 13% rate would be applied as of next year on the preparation and serving of food in and outside restaurants. It is estimated that the lower VAT rate in the hospitality industry will reduce budget revenues by 900 million kuna annually. In relation to the first reading, the government is…

Renewable energy sources are increasingly being harnessed on the Croatian coast, where there is ample wind and sun. In addition to wind power plants, which are multiplying every year, the construction of solar power plants is also on the rise. There is one plant in Istria, which became operational in 2018, and three more will produce electricity in early 2020: on the islands of Cres and Vis and near Vrlika according to Morski on November 26, 2019. With investments of HRK 80 million, Croatian Electric Company (HEP) will add four new power plants to their network with a total capacity of…

ZAGREB, November 26, 2019 - In the first half of 2019, average household electricity prices in the European Union increased slightly compared with the first half of 2018, while gas prices were stable, Eurostat said on Tuesday. In Croatia, the prices of both increased slightly. In the first half of 2019, average household electricity prices in the EU stood at 21 euro per 100 kWh. Average gas prices stood at 6 euro per 100 kWh. Taxes and levies accounted for 37% of the electricity bills. For gas bills, the corresponding share was 27%. Between the first half of 2018 and…

By early July of 2020, it will be much easier for Croatian job seekers to find work in Austria. Their labor market will be significantly liberalized as Barbara Ban/Novac/JutarnjiList reveals on November 22, 2019. Finding employment in Austrian companies will be easier, without the massive present-day paperwork or work permits for certain jobs. Admittedly, many Croatian tourism and hospitality workers have been finding jobs in Austria for a long time. As in Croatia, their profession is in high demand and finding work is not a problem. Nevertheless, some important rules still apply.Dr. Marie Škof, from the Klagenfurt-based law firm Grilc…

ZAGREB, November 25, 2019 - Transport and Infrastructure Minister Oleg Butković on Monday said that investments in Croatia's transport infrastructure were valued at more than 20 billion kuna and that most of these investments went to the road sector. Butković was attending a conference on the future of Croatia's transport system, organised by the Via Vita roads' association, about current road, railway, sea and air transport and of the strategy, financing, public procurement, and construction of infrastructure. Commenting on the ongoing projects, he cited the future Pelješac Bridge, a bypass road around Omiš, an access road to the Rijeka ring…

ZAGREB, November 25, 2019 - Prime Minister Andrej Plenković opened the APIS IT Shared Services Centre on Monday, a 362 million kuna project marking 55 years of the operation of this strategic company. The Shared Services Centre (CDU), which is government 'cloud' IT infrastructure, will combine an enormous quantity of government data and facilitate data management with the ultimate goal of enabling the state to function without paper, which should lead to savings of 50%. It was underscored at the opening ceremony that 85% of the project's value is being financed from EU funds, and that by the project's finalisation,…

As Novac/Dora Koretic writes on the 24th of November, 2019, the year is 2024. Zagreb's roundabout has long since been dealt with, and Zagreb's businessmen are laughing as they head off to work on ''that side'' of the Sava river. It's a good thing that the "old roundabout" is now a thing of the past, especially for the two thousand people who found employment in Zagreb's brand new city landmark - the 150 metre tall Jarun Panorama business tower from which one of the most beautiful views of Novi Zagreb is offered. Ambitious runners also spend their mornings on the…

ZAGREB, November 23, 2019 - The Braća Pivac meat industry (Pivac Brothers Meat Industry) and the Kraš-ESOP (Employee Stock Ownership Plan) on Saturday concluded a sales agreement on the transfer of ESOP shares in the largest Croatian manufacturer of confectionery products to the Braća Pivac, the Zagreb-based Kraš stated today. Under the agreement. MI Braća Pivac company purchased 276,441 ordinary shares, that is 18.44% interest, from Kraš small shareholder, at the price of 861.20 kuna per share or 238.1 million kuna for the whole transaction. The price corresponds to the weighted average price of the Kraš share on the Zagreb…

ZAGREB, November 23, 2019 - If it implements the measures it is obliged to implement, Croatia could enter the European Exchange Rate Mechanism (ERM II) in the second half of 2020, European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis told the conference "Future of the euro area as a currency union - Croatia on the path to the euro" on Friday. The conference was organised by the Croatian Statehood Foundation, the Hanns Seidel Foundation and the Wilfried Martens Centre for European Studies. Croatia needs to fulfil 19 measures in six various areas which it undertook to do in…