Business

ZAGREB, July 1, 2019 - President of the Croatian Chamber of Commerce Luka Burilović said on Monday that Croatia had benefited from its membership of the European Union, however, the labour shortage was becoming a burning issue and required a radical approach. Asked what the past six years of EU membership means for the HGK, Burilović said that Croatia had joined the EU in its "golden years" and that six years on the country was economically stronger. Croatia joined the European Union on July 1, 2013 as the 28th member of the bloc. "We have seen continued growth in exports,…

ZAGREB, July 1, 2019 - The free export of Croatian meat products to Ukraine is possible as of July 1, the Agriculture Ministry has reported. "After several rounds of talks and in light of the fact that Ukraine underwent a long process of adjusting its import rules with international standards, during a general assembly of the World Organisation for Animal Health (OIE) in Paris this year, we finally managed to complete the adjustment of criteria contained in the international veterinary certificate. As of today, there are no more veterinary sanitary obstacles to the export of Croatian meat products to Ukraine,"…

ZAGREB, July 1, 2019 - Russia's Ambassador to Croatia, Anvar Azimov, said on Monday that the situation at the Fortenova Group, previously called Agrokor, was stable and that Russian banks Sberbank and VTB had played a constructive role in ensuring the present stability. Azimov was speaking to the press on the sidelines of the Zagreb-Moscow economic forum at the Croatian Chamber of Commerce. Asked if the Russian interests in the Fortenova Group were well protected and if the Russian side was satisfied with the new company's leadership, he said that the situation was good and that both sides were pleased.…

Just what did Prime Minister Andrej Plenković take away from finally attending a meeting with Croatian entrepreneur Mate Rimac at Rimac Automobili in Sveta Nedjelja? As Poslovni Dnevnik/Ana Blaskovic writes on the 30th of June, 2019, after Mate Rimac reached out with apparently little response from the HDZ leader, this is now the second time in one week that entrepreneur Mate Rimac, owner of Rimac Automobili, and Prime Minister Andrej Plenković have spent time together. The pair held a meeting at the headquarters of Mate Rimac's company in Sveta Nedjelja, along with representatives of both Hyundai and Porsche, as well…

The life and times of the now somewhat infamous Ivica Todorić and family aren't as public as they once were. The Agrokor affair has died down, and the company itself is now Fortenova. An era has ended and a new chapter has begun, but that doesn't mean that the secrecy surrounding the Todorić dynasty is any less interesting. As Novac/Zeljko Petrusic writes on the 30th of June, 2019, just what was discovered in the independent findings in the Agrokor case? The evidence of Todorić's enormous misuse of funds is damning. ''I'm Ismet Kamal, a member of the Institute of Certified…

ZAGREB, June 29, 2019 - European Commissioner for Regional and Urban Policy Corina Cretu said on Friday that Croatia was doing well in absorbing EU funds considering that it was the last country to join the Union, and added that she believed Croatia would be prepared for the presidency of the Council of the European Union in January. Croatia had a shortage of experts to work on European funds, however progress has been made and today the country is doing well in absorbing money, Cretu told Hina on the margins of a meeting of Danube countries in Bucharest. The two-day…

A newly established tourist company in Croatia, which is a result of a merge, is only gaining and gaining in terms of its success. As Poslovni Dnevnik writes on the 28th of June, 2019, with the entry into force of the ruling of the Commercial Court in Rijeka on June the 28th, 2019, the hotel companies Imperial and Makarska will now operate under a new name, Imperial Riviera d.d., thus completing the process of the merging of Hoteli Makarska and the Rab-based Imperium. Both companies have successfully privatised Valamar and the AZ pension funds over the past few years. Imperial…

ZAGREB, June 28, 2019 - Retail sales in Croatia in May 2019 were 2% lower than in May 2018, which is the first time they dropped after going up for 56 months. The national statistical office on Friday published a report on retail trade and its working-day adjusted statistics show that consumption in May was 4.6% down from the previous month and 2% down from May 2018. Analysts of Raiffeisenbank Austria (RBA) said in their comment on the report that the monthly and annual declines in retail trade had unpleasantly surprised the market, ending a record 56-month streak of growing…

Croatia has a lot of talent which spans numerous fields. From the world of sport to science, technology, medicine and engineering, this little country has a lot to offer. One large American multinational company has seen the opportunities Croatia can offer with its many talented students, and is furthering its collaboration with various educational institutions in the country. As Poslovni Dnevnik/Sergej Novosel Vuckovic writes on the 27th of June, 2019, GlobalLogic, a multinational company with a strong international presence, has been working on the strengthening of its overall collaboration with faculties in order to, within five years, access innovative and…

ZAGREB, June 28, 2019 - Prime Minister Andrej Plenković and five government ministers as well as representatives of Hyundai and Porsche on Friday held talks at the Rimac Automobili company, located in Sveta Nedelja outside Zagreb, on the potential of the automobile industry and ways of attracting it to Croatia, with Rimac Automobili owner Mate Rimac presenting a study with concrete guidelines on how to attract such investments. Earlier this week, Plenković held a meeting with Rimac, the founder of one of the leading producers of electric vehicles and high-performance technology, after which a visit to his company was announced.…