Business

ZAGREB, May 20, 2019 - More than 1,100 workers of the Pula-based Uljanik shipyard started receiving notices of employment termination on Monday after bankruptcy proceedings were launched on May 13. The workers will come for work during the 30-day notice period, and this will be added to their years of service, according to union leader Boris Cerovac.In the meantime, the County Court in the northern Adriatic city of Rijeka on Monday ordered the release of six suspects in the Uljanik fraud case from investigative detention. The six suspects were remanded in custody because there was a risk that they might…

ZAGREB, May 19, 2019 - European funds are the key to development, better living standards and economic growth, Prime Minister Andrej Plenković said on Sunday, adding that over the past 15 years the EU had invested 365 billion euro in the development of central and east European countries and that 80% of public investment in Croatia came from EU funds. Until 2020, Croatia has 10.7 billion euro in EU funds at its disposal and it expects as much in the next seven-year budget, Plenković said at the EU Funds Open Doors Day. "The Croatian state couldn't find that in the…

Seven companies from Europe, the Middle East and the Far East have expressed interest in the construction of the new container terminal in Rijeka, the Rijeka Port Authority director Denis Vukorepa said, adding that he was not allowed to disclose their names and references, reports Jutarnji List on May 19, 2019. However, sources close to the government have disclosed that among the interested companies is the Chinese consortium Ningbo Port and CRBC (China Road and Bridge Company), the company that is constructing the Pelješac Bridge and the port of Singapore. After analysing the documents received, which is expected in the…

Young Solin-native Ivan Mrvoš and his company Include achieved impressive business results last year, emerged on new markets, and recently launched a new product - the Monna cycling point, reports Dalmacija Danas on May 18, 2019.  Just how well Include is doing can be seen by the ongoing Funderbeam campaign, which has already raised almost 1.5 million euros from four hundred investors around the world, half of whom are from Croatia. The success of the Funderbeam campaign, which lasts for a few more days, has come to the attention of a well-known business portal Business Insider, which has included an…

ZAGREB, May 17, 2019 - Croatia still is not ready for the introduction of euro currency and citizens should be allowed to decide at a referendum whether they want the country to enter the eurozone, MOST leader Božo Petrov told a press conference on Friday. "Croatia is still not ready to introduce the euro. It's time the government and HNB (Croatian National Bank) start telling the people the truth and not versions or interpretations of the truth," Petrov said, who is running in the election for the European Parliament. In most of the countries that introduced the euro that caused…

ZAGREB, May 17, 2019 - Unprofitable businesses will no longer be financed from the state budget, Economy Minister Darko Horvat said on Friday, noting that after bankruptcy proceedings had been launched for Uljanik d.d., the umbrella company of the Uljanik shipbuilding group, negotiations would continue with investors who had commissioned four ships that were being built by the Pula-based group. The Commercial Court in Pazin decided earlier in the day to launch bankruptcy proceedings for the company over a debt of 98 million kuna. Horvat said that he learned of the proceedings from media reports. "I... am aware of the…

As Poslovni Dnevnik writes on the 17th of May, 2019, as things currently stand, Croatia's beloved and highly popular Mlinar bakery chain boasts bakeries in seven European countries apart from the Republic of Croatia: in neighbouring Slovenia, Bosnia and Herzegovina and Hungary, as well as a little further afield in Slovakia, Germany, Switzerland, and Malta. The news that Mlinar had closed its bakery in the bustling German city of Munich came as a surprise to many. The Yelp page, which offers customers and would-be customers open and transparent reviews of everything from hotels and restaurants to shops, states the Mlinar…

ZAGREB, May 17, 2019 - The Commercial Court in Pazin decided on Friday that bankruptcy proceedings will be opened in the Uljanik shipbuilding group's umbrella company, Uljanik d.d. The company's bank account has been frozen for 199 consecutive days over a debt of 98 million kuna, it was said during today's hearing. Judge Damir Rabar said there were no extenuating circumstances or possibility for the situation to improve. Emil Bulić, chairman of the company's board, said no offer had arrived from Chinese partners, only an announcement that a team of their engineers would arrive to discuss future technical cooperation. Judge…

ZAGREB, May 16, 2019 - A solution is expected in a week regarding the servicing of a part of hospital debts to wholesale drug suppliers, which have increased to HRK 2.6 billion, putting into question the delivery of drugs and medical material to hospitals whose payment deadlines exceed three years, Health Minister Milan Kujundžić and Croatian Employers Association (HUP) representatives said on Thursday. The president of HUP's wholesale drug suppliers, Ivan Klobučar, said suppliers demanded that the state pay 50% of the debt, but the actual amount would be known in a week's time. He was speaking to the press…

ZAGREB, May 16, 2019 - Finance Minister Zdravko Marić said on Thursday that tax revenues had increased by 3.3% in the first quarter of the year while budget expenditures increased by about 6%, noting that the somewhat higher rate of expenditures compared to revenues was usual for that time of the year. Addressing a press conference, Marić said that revenue from VAT and profit tax increased by 3.3% while excise taxes increased somewhat "more strongly." He underscored that he was particularly pleased with contributions for pension insurance, which recorded an increase in revenue of over 5%. When it comes to…