Business

ZAGREB, August 27, 2019 - After on Tuesday the Ministry of finance auctioned off 32 million euro in treasury bills, at a negative interest rates of - 0.05%, Finance Minister Zdravko Marić welcomed the fact that the treasury bills were issued at a negative interest rate. This is the first time Croatia issued treasure notes at a negative interest rate and Minister Marić hailed that as good information. Earlier in the day the ministry issued treasure bills for 81 million kuna with a maturity of one year and at an interest rate of 0.01 percent, which was down by 0.01…

ZAGREB, August 27, 2019 - The Trade Union of State and Local Government Employees of Croatia said on Tuesday that raising the base pay would not equate salaries between public and government employees, and that the only solution was for the government and social partners to agree on a long term and consistent pay policy. The announced 2% base pay rise as of September 1 will keep the status quo at the level above 2%, while pay rises by sector and activity will only deepen the existing pay differences between public and government employees, the union said. Employees in comparable…

ZAGREB, August 27, 2019 - The Marina Punat Group, which includes a marina, a hotel and a shipyard, plans to invest 160 million kuna in renovation and nautical competitiveness by 2025, reporters were told in Punat on Krk island on Monday. Minister Gari Cappelli, present at the press conference, highlighted Croatia's nautical tourism and underlined the importance of investing in quality product. Croatia has 72 marinas with 17,500 berths in total as well as 20,000 dry berths, he said, adding that 480,000 arrivals and 3.1 million nights were expected in chartering this year. About 54,000 boats have docked in Croatia…

You might have noticed people in bright coloured shirts riding around on bikes in Croatia over the last year or so. These independent delivery services are becoming more and more popular with the Croatian population, and they quickly deliver everything from food to medicine. As Poslovni Dnevnik writes on the 27th of August, 2019, after annoying some of Zagreb's hospitality facility owners by listing them in their application (app) without their explicit permission, Glovo has gone from strength to strength and employed more than 400 people to do deliveries around the city after being in business for just five months…

ZAGREB, August 27, 2019 - This year Croatia will spend a record high 40.1 billion kuna for pensions, according to Finance Ministry and Croatian Pension Insurance Institute (HZMO) data, Jutarnji List daily says in Tuesday's issue. The amount is 1.2 billion kuna higher than last year, the paper adds. When one compares the total pension outlays with the number of insurees, i.e. employees who paid pension insurance in the first six months of this year, it turns out that each employee will pay 26,022 kuna this year to keep the pension system stable. Although the number of employees, according to…

As Novac/Adriano Milovan writes on the 26th of August, 2019, leading Croatian exporters are anxiously following the signs of a slowdown in the European, especially the German and Italian economies, and are preparing for the possibility of a new recession in order to attempt to weather its effects on their business. This was confirmed by leading people in several large Croatian companies, which, in their work, are closely linked to two "critical" European markets - Germany and Italy. Both countries are on the verge of a new recession. As these are the countries that are also Croatia's leading foreign trade…

ZAGREB, August 26, 2019 - The Croatian Civil Aviation Agency (HACZ) will be the project promoter of the "Support for participation in the ECAA - European Common Aviation Area" twinning project valued at 250,000 euro that will provide assistance and expertise to aviation authorities in North Macedonia, the HACZ reported on Monday. The EU Delegation to North Macedonia last week announced that the HACZ would be the project promoter following the evaluation of bids submitted at an international tender, the HACZ noted. The project is aimed at providing expertise and assistance to North Macedonia's civil aviation authorities in an effort…

ZAGREB, August 26, 2019 - A third round of negotiations between healthcare sector unions and the government on Monday ended inconclusively over a proposed wage increase and the talks will resume on Wednesday with the unions saying that the government thinks it has bought some time with this move. "These are not new negotiations but this is about an annex which has already been negotiated. I wouldn't say that anything important occurred at the meeting regarding employees' status. We are waiting for what is most significant, working conditions and salaries and that is still far from even being started to…

ZAGREB, August 26, 2019 - Mass-scale emigration of Croatians abroad has triggered off two significant processes on the labour market: a salaries rise and the opening of the market to older workers, the Večernji List daily newspaper wrote in its issue on Monday. The beginning of the rise in monthly salaries coincided with the end of the recession and the start of the economic recovery in 2014, Croatian Chamber of Commerce (HGK) analyst Zvonimir Savić was quoted by the daily newspaper as saying. The average monthly take-home pay is around 6,500 kuna (878 euro), with the average monthly wage in…

As Poslovni Dnevnik writes on the 24th of August, 2019, HAC (Croatian motorways) are likely to cancel a tender worth a massive 380 million kuna for the construction of the Beli Manastir - Drava bridge section on the A5 Beli Manastir - Osijek - Svilaj motorway. The reason for this decision was the withdrawal of Integral inženjering (engineering) from Laktaši (Bosnia and Herzegovina). The bidding for the construction of this subdivision on the Croatian part of 5c corridor received three bids. Of these, only Integral from Bosnia and Herzegovina offered a price which was within the estimated value of the…