Business

As Novac/Jozo Vrdoljak/Privredni.hr writes on the 9th of August, 2019, Tromont, a Split-based company, has just completed the expansion of its manufacturing facility. Now that it has obtained an operating license for the new production hall, it is moving to manufacturing parts for the rail industry, more specifically components for train manufacturers. The investment in the new 3,400-square-foot production facility, as Tromont's CEO Ivan Parčina points out, is worth approximately 25 million kuna. Last year, Tromont invested 9 million kuna into its existing manufacturing facility, built back in 2012, with 35 percent of that amount being withdrawn from European Union funds. The…

ZAGREB, August 9, 2019 - The State Commission for Supervision of Public Procurement Procedures on Friday confirmed receipt of a complaint lodged by the Greek company J&P Avax against the Hrvatske Ceste road operator to award the Austrian construction company Strabag a contract to build the Duboka-Šparagovići section of access roads to the Pelješac Bridge. On August 7, the Commission confirmed to Hina that Strabag had filed a complaint against the selection of J&P Avax as the contractor to build southern access roads to the Pelješac Bridge. The project in question concerns two sections of the Ston bypass road -…

ZAGREB, August 9, 2019 - Croatia's commodity exports in the first six months of 2019 totalled 54.4 billion kuna, up 5.1% on the year, while imports went up 6.8% to 92.9 billion kuna, according to first estimates presented by the national statistical office (DZS) on Friday. The foreign trade deficit was 38.5 billion kuna, nearly 3.2 billion kuna higher than in the corresponding period of 2018. The export-import ratio dropped annually from 59.5% in the first six months of 2018 to 58.6% in H1 2019. Commodity exports to EU member states totalled 36.8 billion kuna, up 3.6% on the year,…

ZAGREB, August 9, 2019 - The data provided by the Croatian Pension Insurance Fund (HZMO) show that the number of active pension contributors in July reached a record high 1.6 million, the highest number since January 2012, and this trend is attributed to the country's economic growth and growing demand for workers in the tourism and construction industry. Last month, as many as 1,600,405 persons were registered with the fund as active payers of pension contribution, which was 0.4% more than in June and 2.4% more than in July 2018. Positive growth rates in the number of pension insurees have…

The demographic crisis in Croatia is continuing to bite, and while chronic staff shortages remain the main plague of Croatian employers, many companies across the country are now turning to the ''import'' of third country nationals, such as Indians. We have written quite extensively on the Croatian demographic crisis, the staff shortages and the repeated increase in the quota for foreign (non EU) labour by the Croatian Government. While this has mitigated problems to a degree this year, it isn't clear what the strategy will need to be next year. After all, it isn't just tourism workers that Croatia is…

As Bernard Ivezic/Poslovni Dnevnik writes on the 8th of August, 2019, there have been stories of this Croatian company being funded with investment capital, especially since its formal global headquarters are in London, but this has always been strongly denied by Infobip. However, they have now confirmed that they were constantly receiving offers from various corporations for takeovers. It is becoming increasingly clear that Infobip is changing its investment policy. This Croatian startup, founded by Silvio Kutić, Roberto Kutić and Izabel Jelenić, no longer hides the fact that it is interested in investment, and the main topic of concern in…

ZAGREB, August 9, 2019 - The Financial Agency (FINA) has reported that at the end of this June, 256,322 citizens' accounts were blocked due to unpaid obligations, with the debt principal amounting to 16.6 billion kuna, and broken down by region the largest number of debtors with overdue liabilities was in Zagreb, 53,045 with the debt of 4.8 billion kuna. Thus, at the end of June 2019, every one in ten Zagreb residents of working age (9.87%) had their accounts blocked. Split, the second biggest Croatian city, had 9,414 citizens' accounts blocked due to overdue liabilities. In Split-Dalmatia County, 23,149…

ZAGREB, August 8, 2019 - Slovenia's bus transportation provider Nomago, which on Thursday took over the Brebus Integral company in the eastern town of Brežice near the border with Croatia, has stated that it is set to take over 30% of Croatia's bus transport market. Nomago, which introduces itself as "a travel and mobility provider with over 600 passenger buses operating in the region between Venice and Dubrovnik", intends to take over at least 30% of Croatia's market according to its medium-term plans. It has now the two branch offices in Croatia: one in the capital city of Zagreb and…

ZAGREB, August 8, 2019 - The company called Meritus Ulaganja, which is also known as M+ Group on the market, was officially listed on the Zagreb Stock Exchange on Thursday. The core business of the Zagreb-headquartered M+ Group, which was founded in 2007, is providing contact center services and direct marketing and it is also specialized in development and implementation of software solutions for medium and big companies and organisations. The contract on listing 857,805 regular shares of this company was today signed by the ZSE management board chair Ivana Gažić and the group's executives Ivan Posavec and Darko Horvat.…

ZAGREB, August 8, 2019 - Beer producers in Croatia earned 2.47 billion kuna in revenue in 2018, with their consolidated profit totalling 344.9 million kuna, 26% up from 2017, the Financial Agency (FINA) has reported. In a report based on annual financial reports and published on the occasion of International Beer Day, which this year is marked on August 5, FINA says that in 2018, 88 businesses were active in the industry, of whom 41 operated at a profit. The beer industry employed 1,622 workers, 5.1% more than in 2017. The average monthly net salary in the sector was 9,824…