Business

ZAGREB, May 13, 2019 - The Town of Ivanić-Grad on Monday presented water utilities projects to be financed with European Union funds valued at almost 500 million kuna and launched in cooperation with the Hrvatske Vode water management company. The projects concern the construction of the Zagreb East regional water supply system, development of Ivanić-Grad's agglomeration, establishment of a modular wood-technology business incubator, and revitalisation of the Lonja river, Ivanić-Grad's town authorities said. Environment and Energy Minister Tomislav Ćorić underscored that several projects were being implemented in Ivanić-Grad and Zagreb County and that Hrvatske Vode and local government were cooperating…

ZAGREB, May 13, 2019 – The new fishing monitoring system was presented in Šibenik on Monday, with Agriculture Minister Tomislav Tolušić saying other countries hardly had the kind of surveillance equipment Croatia had. The equipment including drones, boats, vehicles and cameras as well as a fully digitised fishing centre was also seen by Prime Minister Andrej Plenković, Defence Minister Damir Krstičević, Regional Development and EU Funds Minister Gabrijela Žalac and local officials. Croatia is on the vanguard in the Mediterranean when it comes to the protection of one's own sea resources, Tolušić said, adding that surveillance equipment worth 75 million…

ZAGREB, May 13, 2019 - The Commercial Court in Pazin on Monday opened bankruptcy proceedings in Pula's Uljanik shipyard. Judge Ivan Dujić announced on April 24 he would open bankruptcy proceedings if Uljanik's bank account was not unfrozen by May 13. The chairman of the shipyard's board, Sandi Božac, said Uljanik's account had been frozen for 231 days now. According to the latest Financial Agency (Fina) figures, the dock's debt totals 164.8 million kuna, including 76.5 million kuna in workers' receivables. Uljanik has 1,118 workers, of whom 1,058 in Pula and 60 in Rijeka. Over the past month, bankruptcy proceedings…

May 13, 2019 - The 52nd Business Café will be held in Zagreb on Thursday, May 16th at 7 p.m. at Hotel Academia, Tkalčićeva 88.  Guest speakers will be renowned serial entrepreneurs Damir Sabol and Andrija Čolak.  Sabol is known for starting and selling ISKON telecom, then starting and selling Računi.hr; he currently runs Microblink and the world famous Photomath mobile application used by more than 100 million people.  Čolak is known for his Surf’n’Fries franchise business run on 4 continents and in 20 countries. He also started and has managed Kisha and Porthop apps.  More info in Croatian, as…

ZAGREB, May 12, 2019 - Prosecutors in London have been given the go-ahead to investigate the former owner of Croatia's Agrokor food and retail conglomerate, Ivica Todorić, in the Nexus case and in the case of sale-leaseback agreements between Agrokor and a US real estate fund, the N1 television channel says. "Ivica Todorić could be questioned soon, just as he was questioned in the Agrokor case after his extradition from London," N1 said. Todorić refused to waive his right under which each new procedure required approval from London, and his lawyers say they have no knowledge of any such approval…

The final of a total of 148 planned permanent pillars was installed at the site of Pelješac Bridge on Thursday night. The hammer of the Xong Cheng 1 crane installed the last, 126.6 metres tall pillar, reports Večernji List on May 11, 2019. According to the construction plan, the last permanent pillar was supposed to be installed on May 21, which means that the Chinese builders from China Road and Bridge Corporation (CRBC) have completed this phase 12 days ahead of schedule. The longest pillar is 128.6 metres tall and weighs about 230 tons, while the shortest one is 36…

ZAGREB, May 10, 2019 - The Croatian Chamber of Commerce (HGK) on Friday signed an agreement with the Association of German Chambers of Industry and Commerce (DIHK) and the German Chambers of Commerce Abroad (AHK) under which Croatian companies operating abroad would be able to use the services of German foreign trade chambers under the same terms as German companies, the HGK said. HGK president Luka Burilović said that only an export-oriented economy could guarantee sustainable long-term development to Croatia. "The agreement means easier access to the markets where DIHK has foreign trade representations, and we are talking about more…

The Vault mobile bank from Great Britain, launched two years ago, is expanding to the Croatian market. The bank, supported by one of the major international financial advisors, DeVere Group, is part of the new business strategy of this company which wants to expand in the fintech sector. Vault offers similar services like Revolut or N26, but claims that their bank accounts are not limited just to the EU, reports Poslovni.hr on May 9, 2019. Dimitris Litsikakis, head of DeVere’s global fintech business, who spent the previous year running Revolut’s business in Greece, Cyprus and Malta, says that everyone in…

ZAGREB, May 8, 2019 - Croatian National Bank (HNB) governor Boris Vujčić said on Wednesday the HNB would continue to provide expert assistance and technical support to central banks in the Western Balkans so as to help them adjust to standards on which the European Union insists. Vujčić is part of Croatia's delegation attending the annual assembly of the European Bank for Reconstruction and Development (EBRD) held in Sarajevo. The meeting is focused on the situation in the Western Balkans, namely its political and economic prospects. Commenting on the event, Vujčić told Hina that from the point of view of…

ZAGREB, May 7, 2019 - The European Commission on Tuesday revised down its GDP growth forecast for the Croatian economy for this year from 2.7% to 2.6%, underscoring that GDP will have finally surpassed the pre-crisis level this year. "Croatia’s economy is expected to continue growing at a moderate pace over the forecast horizon. Household consumption remains strong as disposable incomes continue to benefit from steady growth of employment and wages, in an environment of low inflation. Participation rates are projected to keep increasing gradually as more jobs are being created. Continued growth in tax revenue and contained spending growth…