Business

The Chinese interest in Croatian projects is continually growing, or so it seems, and there is now room to dare when it comes to the potential Chinese rescue of Uljanik and 3 Maj at the eleventh hour. As Marija Brnic/Poslovni Dnevnik writes on the 2nd of May, 2019, the Chinese CSIC representatives currently visiting Croatia to see the state of Croatia's ailing Uljanik (Pula) and 3 Maj (Rijeka) shipyards have expressed clear interested in new projects with Croatia's shipyards, but only if the Croatian state covers the cost of what has already failed, there have also been mentions of the…

ZAGREB, May 1, 2019 - Economy Minister Darko Horvat said Wednesday during a break in a meeting with a Chinese delegation touring the Ulljanik and 3. Maj shipyards, that it was indicated during the talks that there was a possibility for the continuation of production in Pula and Rijeka, which does not have to be entirely related to shipbuilding. Horvat who met with a China Shipyard Industry Corporationa (CSIC) at Zagreb's Airport, said that both locations were offered to the Chinese, not only for shipbuilding but also for other forms of production as well. Several CSIC representatives arrived in Uljanik…

As Poslovni Dnevnik writes on the 30th of April, 2019, Croatia Airlines' operating losses during the first quarter of this year stand at 90.2 million kuna, with a net final loss for that period totalling a massive 98.6 million kuna, as Croatia Airlines announced on Tuesday. Croatia Airlines explained that these significant losses are to be expected in view of its highly seasonal business performance. The air company added that the lower net result, in comparison with the previous year, was significantly influenced by the increase in amortisation costs, standing at 26.5 million kuna, caused by the change in international…

As Poslovni Dnevnik writes on the 30th of April, 2019, Croatian Finance Minister Zdravko Marić said on Tuesday that he still needs to see if there really is specific interest from the Chinese shipbuilding company, whose representatives are visiting the ailing shipyards in Pula (Uljanik) and Rijeka (3 Maj), saying that it's too early to be able to say anything and that we "need to be completely realistic". When aked by a journalist about the expectations of the Croatian Government, given that a delegation from the Chinese shipbuilding company China Shipbuilding Industry Corporation (CSIC) has visited the Uljanik and 3…

ZAGREB, May 1, 2019 - In Q1 2019, INA Group net sales revenues increased by 15% from the same period of last year to 4.25 billion kuna, while net profit excluding special items increased to 58 million kuna, the group said in a press release on Tuesday. "The positive result was driven by the continuation of favourable hydrocarbon prices and increased sales," the group said. EBITDA recorded a 12% increase to 539 million kuna, while net profits excluding special items grew to 58 million kuna, a much better result than in Q1 2018, when they totalled one million. Capital investments…

April 30, 2019 - Six years into a 7-year strategic tourism plan for golf in Croatia to deliver 30 golf courses (none of which have been started), Opatija hosts the 3rd Annual Conference on Golf Tourism in Croatia. This is not an article about golf.  It is also not an article criticising the Ministry of Tourism for its spectacular failure to deliver one of the cornerstones of its 7-year strategic plan from 2013 - 2020.  It is about a pattern that explains why things are not happening in Croatia.  I thought I had written all I had planned to write…

ZAGREB, April 30, 2019 - Fifty-two percent of Croatian citizens support adoption of the euro, 40 percent are against and eight percent are undecided, Croatian National Bank (HNB) governor Boris Vujčić said in Zagreb on Tuesday, citing the results of the latest survey conducted by the central bank every six months. Vujčić was speaking at a panel entitled "When will Croatia adopt the euro?" Citing the advantages of a switch from the national currency the kuna to the European Union's single currency, he said: "The adoption of the euro would reduce investment insecurity, higher interest rates and high costs." Vujčić…

ZAGREB, April 30, 2019 - Electric, shared and autonomous - that is the future of cars and the car industry in decades to come, but the question is whether Croatia will be bypassed by an investment wave and whether we will respond on time, said Rimac Automobili owner Mate Rimac at the Croatia E-Mobility Forum, organised by the Jutarnji List daily and the American Chamber of Commerce in Zagreb on Tuesday. "The future will bring radical changes in the car industry as early as the next 20 years. Cars will be used when necessary, their users will not be their…

ZAGREB, April 30 (Hina) - A delegation of the China Shipbuilding Industry Corporation (CSIC) talked with members of the management and supervisory boards of the Uljanik shipbuilding group for four hours on Tuesday, showing interest in the technology and special-purpose vessels, a member of Uljanik's supervisory board said after the meeting in the northern coastal town of Pula. "I am glad to see that there are people who are interested in both shipyards, considering the situation we are in. The talks focused on the past, present and future of the shipyards in Pula and Rijeka, on shipbuilding and technology," Samir…

If the China Shipbuilding Industry Corporation (CSIC) gives up, it will be difficult to find another candidate for the ailing Croatian shipyards Uljanik (Pula) and 3 Maj (Rijeka) which is in the shipbuilding industry and is also a strong and respected player. Could a Chinese investment be on the cards? As Poslovni Dnevnik/Suzana Varosanec writes on the 29th of April, 2019, after yesterday's meeting with Prime Minister Andrey Plenkovic and his government ministers, Hu Wenming, Chairman of the Board of China's largest shipbuilding company China Shipbuilding Industry Corporation (CSIC) confirmed that they are indeed moving towards serious consideration regarding the…