Business

ZAGREB, March 30, 2019 - Prime Minister Andrej Plenković said on Saturday that Istrian Democratic Party (IDS) leader Boris Miletić's statement by that pushing Uljanik into bankruptcy the ruling HDZ party was trying to economically destabilise Istria. "If the IDS wants to play the game of shifting responsibility, it should ask itself what it has done for Uljanik over the past 30 years and not the last 17 months," Plenković said on the margins of a meeting of the NATO Parliamentary Assembly's Standing Committee in Zagreb. Last year the government made a change, "unlike the SDP-led governments, of which the…

Turkish company Dogus Group has sold its shares in Croatia’s ACI marina chain to pension funds. The company confirmed that it had sold 10.87 per cent of ACI to pensions funds, namely, the AZ category B mandatory pension fund, the AZ Profit voluntary pension fund, and PBZ Croatia Osiguranje, reports Jutarnji List on March 30, 2019. “We are proud of the fact that we, along with the owner, the Republic of Croatia, were the second largest shareholder of this valuable strategically-important company. D-Marin Group, the global network of marinas which operates as part of the Dogus Group, has recently been…

ZAGREB, March 29, 2019 - Istrian Democratic Party (IDS) leader Boris Miletić on Thursday criticised the government's decision not to endorse the proposed plan for restructuring the ailing Uljanik Group, and insisted that inaction by the Andrej Plenković cabinet was an attempt to destabilise Istria, which, Miletic says, is "the only Croatian region that has managed to resist the pernicious influence of the Croatian Democratic Union (HDZ)." Miletić said in Pula that the government's indecisiveness and lack of action regarding the Uljanik Group "is an attempt to economically destabilise Istria." He claimed that the government postponed the beginning of today's…

ZAGREB, March 29, 2019 - SNAGA party member of parliament Goran Aleksić said on Thursday that the Supreme Court's decision whereby decisions by banks on the variable interest rate on loans pegged to the Swiss franc in the period from 1 January 2013 to 1 January 2014 were declared unlawful, was good but that loan holders were still waiting for a crucial decision, the one on their right to claim back overpaid interest. "We are waiting for the Supreme Court to deliver a ruling on whether, after conversion, we have the right to claim back overpaid interest. The current decision…

Just how many Croatian companies are seriously working on the deeply desired digital transformation that Croatia so desperately needs? Not that many, at least for now... As Bernard Ivezic/Poslovni Dnevnik writes on the 27th of March, 2019, in the Republic of Croatia, fifteen to twenty percent of Croatian companies are seriously working on the much talked about digital transformation, stated regional director Marin Tadić at the opening of Oracle Technology Day, the annual conference of the IT company which bears the same name. He added that Oracle estimates that global spending on digital transformation will grow by fifteen percent. "By…

At the start of the enfeebled Uljanik's bigger problems, the Croatian Government's view was either restructuring or bankruptcy, and now there's no time to devise any sort of new solution. As Marija Brnic/Poslovni Dnevnik writes on the 28th of March, 2019, the government rejected the offer of strategic partner Brodosplit for Uljanik's restructuring, and thus, although the prime minister tried to avoid actually saying it, a process that would have a domino effect on all the companies operating within the Pula-based group system was launched. The fact that there is no longer a strategic partner for Uljanik, which was the…

March 28, 2019 - Croatia's 2019 Ernst&Young Entrepreneur of the Year is Infobip!

ZAGREB, March 28, 2019 - The Supreme Court said on Thursday that decisions by banks on the variable interest rate on loans pegged to the Swiss franc in the period from 1 January 2013 to 1 January 2014 were unlawful because banks had not adjusted their operations concerning variable interest rates to the amended Consumer Credit Act. "Even though in order to correct the invalid provision, banks had specified in their offer to clients, in line with the law, the way the variable interest rate would be set, they unilaterally and contrary to the law, set an interest rate that…

March 28, 2019 - The project to connect the two parts of Croatia is on track - the latest from the Peljesac Bridge.  It is the project that many thought would never happen. After more than a decade of political promises and announcements, many Croatians doubted that the strategically important Peljesac Bridge project would ever come to fruition.  Strategically important because without it, Croatia is a country of two parts, physically separated by the Neum Corridor, also known as the Bosnian Riviera - a 23 km coastal strip which physically separates Dubrovnik and southern Dalmatia from the rest of the…

ZAGREB, March 28, 2019 - The proposed restructuring of the ailing Uljanik Group cannot be accepted by the government, as that plan would entail a huge exposure of the state to this problem, however, the government is open to the search of additional solutions for the shipyards in Pula and Rijeka, Prime Minister Andrej Plenković said in Zagreb on Thursday. Plenković recalled that last week the Croatian public was informed about figures and restructuring costs from the plan, which should be covered by the state budget. The proposal of the recently selected strategic partner Brodosplit and its owner Tomislav Debeljak,…