Business

The Croatian Public Relations Association (HUOJ) has presented its awards for best communication projects. Krešimir Macan, the founder and owner of Manjgura, one of the oldest Croatian public relations agencies, was awarded the Grand PRix for his overall work in the field of public relations and an exceptional contribution to the development of the profession, reports prglas.com on March 14, 2019. “As for Krešimir Macan, we can say that he is for the PR profession in Croatia what Digitron is among calculators, so one of the first associations when discussing public relations in our country. In what we can call…

ZAGREB, March 14, 2019 - The European Commission Vice-President for the Euro and Financial Stability, Valdis Dombrovskis, said in the European Parliament on Wednesday that Croatia's exit from the Excessive Macroeconomic Imbalance procedure was a step towards entry into the euro area. The EC in February said that Croatia had overcome excessive macroeconomic imbalances, which Dombrovskis recalled at a plenary session of the European Parliament. Croatia's economy still suffers from macroeconomic imbalances but they are no longer excessive. That's good news, especially in the context of Croatia's preparations for participation in the European Exchange Rate Mechanism and eventually membership in…

ZAGREB, March 13, 2019 - Finance Minister Zdravko Marić on Wednesday said that the ministry's analysis of the Uljanik Group was nearing completion and that to date 35 billion kuna had been pumped into shipbuilding and that he cannot see how to justify an additional 7 to 10 billion kuna for Uljanik. Furthermore, it doesn't seem to him that it is possible for the costs of restructuring and bankruptcy to be the same. "There is no dissension, we are working as members of the government, aware of certain matters and problems," Marić answered reporters when asked whether any misunderstanding existed…

At the very end of the Digital Takeover Conference, the Business Leaders awards were present to companies and startups which the 24sata daily has recognised as leaders in digital transformation. These are companies that define the digital market and determine how it will look tomorrow, reports 24sata.hr on March 13, 2019. The award for the most substantial investment in the development of the gigabit network was given to Croatian Telecom, represented by Boris Drilo, a member of the board of directors and head of IT. “With this modernisation drive, we have upgraded 800 of the 2000 base stations, and we…

ZAGREB, March 13, 2019 - When asked by the press on Tuesday about Monday's meetings in Budapest with individuals from the energy sector about which he had tweeted, U.S. Ambassador to Croatia Robert Kohorst confirmed that most of the talks focused on the LNG terminal. "Interesting day of meetings in Budapest organized by the US Embassy, including conversations with a number of Hungarians with interests in the energy business. Also, nice to spend time with Marie Royce, ECA Assistant Secretary, and David Cornstein, US Ambassador to Hungary," Kohorst tweeted on Monday. The U.S. Ambassador said today in Zagreb he was…

Data continues to show that beautiful Međimurje County is the most developed county of continental Croatia after the City of Zagreb, the only one over 50 percent more developed than the EU average. As Poslovni Dnevnik writes on the 12th of March, 2019, this year, Međimurje is among the winners in the category of creating a favourable entrepreneurial environment, the efficiency of the public administration, incentives and investment in infrastructure through EU funds. The award was presented by one of the most prestigious and highly respected business media outlets in the world, the Financial Times, as part of its fDI…

ZAGREB, March 12, 2019 - A hearing before Rijeka Commercial Court to determine whether conditions exist for initiating bankruptcy proceedings for the 3. Maj shipyard was once again postponed on Tuesday, until March 28, to see whether the relevant ministry, the strategic partner and management will manage to reach an agreement on the payment of overdue wages and the continuation of production. Bankruptcy trustee Zdravko Ćupković and union representatives agreed with the adjournment. All creditors have been offered an agreement on debt repayment, under which 15% of the debt would be repaid by April 15 and the rest by the…

ZAGREB, March 12, 2019 - Revenues of the Agrokor food and retail group in January 2019 amounted to 1.5 billion kuna, and operating profits totalled 34.2 million, the group's emergency administration said in the latest monthly report on Tuesday. Data in the report refer to the operations of 16 companies that make up the group's three business segments - Retail and Wholesale, Food, and Agriculture. The report shows that all three segments saw an increase in revenues and EBITDA in January compared to the plan. The report also shows that the operating expenses of Agrokor's emergency administration, in the period…

Istria is one of the most developed Croatian counties with a GDP of 24.9% above the Croatian average and an unemployment rate lower than the EU average. The rate of immigration to Istria is higher than the rate of emigration, which is why it is often called "little Ireland", reports Lokalni.hr on March 12, 2019. The economic and social development of Istria is a consequence of the successful absorption of EU funds and, in general, excellent cooperation with different European regions and European institutions. “Users from Istria have so far participated in more than 60 different programmes and through nearly…

ZAGREB, March 12, 2019 - The government is expected to decide this week whether the restructuring of the Uljanik shipbuilding group will be launched or not, Economy Minister Darko Horvat said on Monday following a meeting with Uljanik's management and strategic partner, Tomislav Debeljak. "There are only two options - we will either opt for restructuring and finance this interim phase with a loan that won't burden the state budget or the strategic partner's liquidity, or we will opt for a bankruptcy," Horvat told reporters after the meeting. He said that a joint proposal was aimed at a "new rescue…