Business

ZAGREB, May 7, 2019 - The value of innovative ideas and projects ready for investment in Croatia is greater than 5.5 billion kuna, Minister of Economy, Entrepreneurship and Crafts Darko Horvat said on Monday at a meeting of the National Innovation Council (NIV). The amount of 2.23 billion kuna will be secured from structural funds through tenders and part of the funds will be secured from the state budget, he said. He added that intensive talks are underway with institutions in neighbouring countries as well as in Israel, America and China that have the financial capacity but do not have…

ZAGREB, May 7, 2019 - The head of the Adriatic union, Boris Cerovac, on Monday told a press conference in Pula that workers at the Uljanik and 3. Maj docks whose accounts have been blocked and are not able to pay their bills can ask for a six-month moratorium on distress orders. He informed that it is possible to delay the freezing of their accounts in line with an agreement reached between the Croatian association of payment agencies and the Blokirani civil society organisation representing citizens with blocked accounts and the union. That will prevent a landslide of distress orders…

ZAGREB, May 6, 2019 - In March 2019 compared with February 2019, Croatia was in a group of EU countries with the biggest decline in the volume of retail sales but it was also in a group of countries recording the biggest annual increase of the seasonally adjusted volume of retail trade, according to figures released by Eurostat, the statistical office of the European Union. According to seasonally and working day-adjusted data, the volume of retail sales in Croatia in March was down 1.9% on the month. In the euro area in March 2019, compared with February 2019, the volume…

ZAGREB, May 6, 2019 - A workforce survey conducted by the National Bureau of Statistics (DZS) shows that the number of gainfully employed people in Croatia continued to grow, while the unemployment rate declined to 8.4 percent in 2018. Last year, 1.655 million people in Croatia were employed, an increase of 30,000 from 2017. Figures for the past four years show that their number rose from 1.585 million in 2015 to 1.59 million in 2016 to 1.625 million in 2017. The employment rate, as a percentage of employed persons in the total working-age population, was 46.9 percent in 2018, up…

Binod Chaudhary has been on Forbes’ billionaire list since 2013. He will soon arrive in the first visit to Zagreb where he will be introduced to the local startup scene and Croatia’s broader economic potential. He will also announce the Croatian edition of his inspirational autobiography Making It Big, reports Poslovni.hr on May 6, 2019. Binod Chaudhary is the owner and president of CG Corp Global, a multinational conglomerate of 122 companies on five continents with 76 brands, including the famous Wai Wai pasta. In 2017, he entered the European market by building a factory in Serbia. The billionaire is…

ZAGREB, May 5, 2019 - Between 2007 and 2017, the number of taxi firms and people employed in taxi business in Croatia increased twenty-four times, according to a study by the Financial Agency (Fina). Their number was on the steady rise throughout this period, except in 2009, 2013 and 2015, and the biggest spike was observed in 2011 when it increased almost sevenfold from the previous year. In 2007, taxi services were provided by 18 firms, compared with 435 in 2017, and the number of employees rose from 44 in 2007 to 1,064 in 2017. The study did not include…

As Poslovni Dnevnik writes on the 4th of May, 2019, Vukovar Mayor Ivan Penava and the CEO of the Swiss company Immo Invest Partner, Džek Djordić, signed a contract on the sale of the Dunav (Danube) Hotel in Vukovar on Saturday, and the Swiss company has thus announced the construction of a new four-star hotel, in which it will invest a massive 200 million kuna. "This is a strategically important property in Vukovar, the building of the former Dunav Hotel, which has attracted a lot of interest from the public," stated Penava, pointing out that the building is located in…

ZAGREB, May 3, 2019 - The Pazin Commercial Court on Friday adjourned a hearing at which a decision was to have been made on whether conditions have been met to launch bankruptcy proceedings in the case of Uljanik d.d., the umbrella company of the shipbuilding group, and scheduled a new hearing for May 17. Judge Damir Rabar accepted a proposal by Management Board chair Emil Bulić to wait for a final decision by a potential Chinese partner, which is expected to be made known in about ten days. Trustee Damir Majstorović said that both conditions for launching bankruptcy proceedings in…

As Jasmina Trstenjak/Filip Pavic/Novac writes on the 1st of May, 2019, the Republic of Croatia does have a chance in the car industry, and it can improve its investment portfolio with certain active and proactive measures, open up opportunities for the development of new industries, and not miss this third train, since it has already missed two. Rimac Automobili, the company of one of Croatia's most successful entrepreneurs, Mate Rimac, is more than ready to help if Croatia truly wants to attract the car industry to Croatia. With some work put in to it, it's possible. The above is one of…

ZAGREB, May 3, 2019 - Macroeconomic conditions in Croatia continue to be positive and fiscal performance is good despite sizable recent shipyard guarantee payments, but a possible slowdown in main trading partners may affect these benign conditions, reads a statement by the International Monetary Fund (IMF) team released on Thursday, after the team's recent visit to Zagreb. "Macroeconomic conditions have remained positive. Growth is gradually moderating from its recent highs, inflation remains subdued, international reserves have increased, and public debt has been declining," reads the statement. The IMF expects Croatia's GDP growth rate this year to be at 2.6% and…