Business

ZAGREB, February 11, 2019 - The recently chosen strategic partner for the restructuring of the Pula-based Uljanik shipbuilding group, a consortium consisting of the Croatian company DIV and Italy's Fincantieri, on Monday signed a letter of intent with the Australian Scenic group on cooperation in the construction of ultra-luxury cruise ships, the Pula dock said. Uljanik's management and supervisory board on February 7 chose Brodograđevna Industrija Split, which is part of the DIV group, and Italy's Fincantieri as its strategic partner for the restructuring of that ailing shipbuilding group. The letter of intent refers to cooperation on a project whereby…

ZAGREB, February 9, 2019 - Brodosplit management board chairman Tomislav Debeljak said on Saturday that at the moment it was important to ensure a financial injection for the Uljanik shipbuilding group and that a possible folding of the Uljanik and 3. Maj docks would mean the end of shipbuilding as a strategic industry in Croatia. Speaking to Hina, he said the injection was necessary "to drastically cut the total expenses" and that it was also important "to reach a quick agreement between everyone involved so as to ensure all the conditions for recapitalisation." Earlier this week the Brodosplit dock was…

ZAGREB, February 9, 2019 - Parliament Speaker Gordan Jandroković said on Friday that he hoped that negotiations between the government, DIV owner Tomislav Debeljak and partners will result in a solution that will salvage and secure long-term sustainability of the Uljanik and 3. Maj shipyards and competitiveness on the international market. "The government and the responsible ministry have invested a lot of effort for that process to head in a positive direction. Unfortunately, the shipyards have been generating huge losses for decades. We are talking about tens of billions that went into subsidies which in the end didn't prove to…

While the news is definitely not unexpected, it's never a good thing when the public finds out about the increasing prices of a commodity. That's exactly what happened today, as HERA (Croatian Energy Regulatory Agency) announced the increase in the gas prices for later in 2019, but also another one coming in 2020. So, from April 1st the natural gas prices will be almost 7% higher for the end-consumers. The increase is explained by the increased wholesale component of the price, which they say has gone up by 9.7%. That new price will be applicable by March 31st next year,…

ZAGREB, February 8, 2019 - The Minister of Economy, Entrepreneurship and Crafts, Darko Horvat, said on Thursday that good prospects existed for restructuring of Uljanik if the new strategic partner proved to be financially capable, otherwise serious problems would occur because there was no more time for salvaging shipbuilding in Rijeka and Pula. The management and supervisory boards of the Uljanik shipbuilding group on Thursday selected the Brodograđevna Industrija Split, or Brodosplit, as the strategic partner and an agreement will be concluded to regulate mutual rights and obligations to as soon as possible draw up an acceptable and implementable restructuring…

ZAGREB, February 7, 2019 - Brodograđevna Industrija Split, or Brodosplit, has been selected as the strategic partner for the ailing Pula-based Uljanik shipyard, Uljanik announced in a statement via the Zagreb Stock Exchange on Thursday. The decision was made at a joint meeting of the Pula shipyard's management and supervisory boards on Thursday. An agreement will be concluded with the selected strategic partner to regulate mutual rights and obligations. Under the agreement, the strategic partner will be required to draw up an acceptable and implementable restructuring programme for the Uljanik company and shipyard, the statement said. The selected strategic partner…

ZAGREB, February 6, 2019 - Arbitration proceedings which the Hungarian energy group MOL has launched against Croatia before the International Centre for Settlement of Investment Disputes (ICSID) in Washington are still ongoing and a ruling is pending, and Croatia has contested the jurisdiction of the arbitration tribunal in Washington in all arbitration proceedings initiated against it based on investment protection agreements with EU member states or the Energy Charter Treaty, the government said in response to a query from Hina on Wednesday. MOL launched arbitration proceedings before the ICSID in late 2013, arguing that Croatia had failed to honour its…

Good news for respected Croatian General Ante Gotovina as his tuna company signs a contract with a Metro, which will now result in his company's top quality fish ending up exclusively on Croatia's shelves for the hotel and catering industry. As Poslovni Dnevnik writes on the 6th of February, 2019, with a presentation of the methods of the processing and the preparation of the popular bluefin Adriatic tuna, visitors to the Adriatic Gastro Show will get acquainted with the famous culinary presentation of the well-known "Batelina" chef David Skoko. At today's Adriatic Gastro Show held in the Dalmatian capital of…

ZAGREB, February 6, 2019 - Workers at the Same Deutz Fahr Žetelice factory, who have been on strike since January 9 due to low wages, expect that the Supreme Court will deliver a ruling in their favour after the company's management filed a lawsuit insisting that the industrial action is unlawful. If the court rules against the strike, workers will comply with the ruling, however, they will not refrain from seeking an increase in wages, union leader Marko Ivkošić said on Tuesday. "We've heard that the Supreme Court has made its decision and we are convinced that it will stand…

Most of Croatia's biggest entrepreneurs are located on the northern Adriatic islands, and Croatia's biggest employers are still in the tourism and trade industries. As Poslovni Dnevnik/Darko Bicak writes on the 6th of February, 2019, according to the analysis of the Financial Agency (FINA), which included details on entrepreneurs operating in the Republic of Croatia, there are 4,322 of them across 51 cities and municipalities in total who work as classified entrepreneurs, and in 2017, the largest number of entrepreneurs were in the field of providing accommodation and food preparation and serving - 903 of them. This tourism sector has…