Business

ZAGREB, June 18, 2019 - Croatia's IGH civil engineering company has been selected, along with the Romanian Constructii company, to design and complete the construction of a 26-kilometre leg of a Romanian motorway, and the job is valued at 3.43 million euro, the company reported on Monday. Romania's National Company for the Administration of Road Infrastructure has commissioned the construction of the motorway which will largely be financed with EU funds. The total value of the motorway is 76.4 million, euro while the company's contract is worth 3.43 million euro, IGH said. A contract is expected to be signed after…

ZAGREB, June 17, 2019 - The Croatian economy's main problem at the moment is a labour shortage so quotas for foreigners should be urgently abolished, Chamber of Commerce (HGK) president Luka Burilović said on Monday. "At nearly four percent, economic growth is finally approaching the rates we desired and expected, and interest rates are at the lowest levels. But the labour shortage is the main obstacle to the continuation of those positive trends. It's the issue of all issues at the moment," he said at an HGK Assembly meeting. Burilović said the government had listened to the economic sector in…

ZAGREB, June 17, 2019 - A delegation of the Chinese Ministry of Agriculture and Rural Affairs led by Minister Han Changfu arrived in Zagreb on Monday for a three-day official visit to Croatia. During their stay in Croatia, the Chinese officials will be received by Agriculture Minister Tomislav Tolušić and visit several agricultural and food producers, the ministry said in a press release. The talks with Tolušić are scheduled for Monday afternoon. A joint press conference will be held after a meeting in the government on Tuesday. The delegation will visit the Koka poultry processing plant in Varaždin and after…

As Poslovni Dnevnik writes on the 17th of June, 2019, the Croatian company Carwiz International has launched a franchise business of its brand on no less than the distant Caribbean market, more specifically on the island of Sint. Maarten. Currently, negotiations are underway regarding the positioning of the Croatian Carwiz rent-a-car on the surrounding Caribbean islands, too, thus successfully completing the additional global positioning of this Croatian brand after its success in Croatia, Greece, Bosnia and Herzegovina, Latvia, Cyprus, Morocco, Turkey, Serbia and Albania. It's also Carwiz International's first real business step towards distant, overseas markets. According to Krešimir Dobrilović,…

ZAGREB, June 15, 2019 - Croatian National Bank (HNB) governor Boris Vujčić said on Saturday he expected to do very well in the Asset Quality Review before entering the Single Supervisory Mechanism (SSM) because their capital adequacy and liquidity was markedly above the euro area average and they left no doubt that the system was good and stable. Speaking at the 25th Dubrovnik Economic Conference, he said the technical part of conducting the review was being arranged with the European Central Bank. He said the names of the banks which would be reviewed should be known by the end of…

The news and media in Croatia are usually dominated by three things. The more serious look at corruption within politics, usually happening at a very high level, the economic situation and people arguing whether or not things are ''really'' that bad, and then the self-proclaimed ''influencers'' posting pretty pictures of the sea (and themselves, of course) and banging the tired old drum of having ''discovered Croatia''. Other than that, you're not likely to read much more. The issue with the economic situation in Croatia however, is that it's somewhat paradoxical. To say that there is simply not enough work isn't…

ZAGREB, June 15, 2019 - Liu Changlai, CEO of the Camel Group, a company that together with Rimac Automobili started building a factory for propulsion systems for electric vehicles, on Friday said that the group would in future intensify its cooperation with Rimac and that by the year's end the jointly built company in the city of Xiangyang will have a capacity of producing 150,000 propulsion systems a year. Liu Changlai confirmed the news of the intensified cooperation to Hina after a meeting in the Zagreb City Assembly where a memorandum of understanding between the cities of Zagreb and Xiangyang…

ZAGREB, June 14, 2019 - A low-carbon economy, energy independence and efficiency are the main objectives of Croatia's energy strategy, it was heard at a conference - New energy strategy and sustainable financing - organised by the Croatian Chamber of Commerce on Friday. Assistant Environment and Energy Minister Domagoj Validžić said that Croatia is heading toward a low-carbon economy. With the implementation of the new energy strategy, Croatia would among other things, become energy independent, with cleaner and more efficient energy, whereas energy development will impact the economy overall, he said. The director in charge of preparing the draft strategy…

ZAGREB, June 14, 2019 - The Brodosplit dock on Friday confirmed for Hina that the completion and delivery of the sailing ship "the Flying Clipper", is running late compared to contracted deadlines adding however that the Split-based shipyard would not be held responsible as this was an approved delay and the ship will be completed. A spokesman at the dock said that the Flying Clipper is the first sailing ship in the world to have 'Safe return to port' security standards installed and that it meets all the requirements of the US coast guard and its public health standards and…

ZAGREB, June 14, 2019 - MP Goran Aleksić of the opposition SNAGA party said on Friday that at least 20,000 civil suits had been brought against banks whereby clients who took Swiss franc loans seek reimbursement of overpaid amounts. The exact number will be known in the weeks ahead, he said at a press conference. Aleksić recalled that the Supreme Court ruled that holders of CHF loans who converted their loans into euro were entitled to sue banks and seek a refund of overpaid interest. He said the Supreme Court was expected to decide on reviews filed by banks to…