Business

To briefly recall, Gredelj's bankruptcy began back on October the 1st, 2012, and an encouraging letter of intent from an Austrian railway company is a possible path to its end. Could an Austrian acquisition be the end of Gredelj's long list of problems? As Poslovni Dnevnik/Suzana Varosanec writes on the 23rd of January, 2019, the Austrian company OBB-Technische Services GmbH operating in the Austrian Federal Railways has provided a letter of intent on expressing an interest in the possible purchase of Croatia's TŽV Gredelj d.o.o., which is in bankruptcy. This information has now been officially confirmed, as have the decisions…

The Varaždin-based Croatian company Varteks has been producing dresses, coats, jackets and other clothing for specialised purposes, including uniforms for the Croatian Army, the police and the like for 101 years now. As Poslovni Dnevnik writes on the 23rd of January, 2019, in three production plants in a complex of red brick buildings in the centre of Varaždin, several hundred workers are working daily in one shift on quality garment collections. In Varaždin's Varteks, 24sata journalists were welcomed and hosted by Nenad Bakić, president of Varteks' administration. He took them through all three production facilities. That day, designers who came…

ZAGREB, January 23, 2019 - Croatia has great expectations from the proposed InvestEU programme, designed to encourage innovation and job creation in the next seven-year period from 2021 to 2027, Finance Minister Zdravko Marić said on Tuesday. The InvestEU programme will replace the present European Fund for Strategic Investments, established after the financial crisis, and is an extension of the Investment Plan for Europe, also known as the Juncker Plan. The new programme combines funding from the EU budget in the form of loans and guarantees. Under a European Commission proposal, a 38 billion euro guarantee would be secured from…

ZAGREB, January 22, 2019 - Croatian President Kolinda Grabar Kitarović on Tuesday received the president of the World Business Angels Investment Forum, Baybars Altuntas, who is on a visit to Croatia for the opening of the first office of this business network in the European Union, the Office of the Croatian President said in a press release. A World Business Angels Investment Forum (WBAF) office was opened in Zabok, northwestern Croatia, on Monday and will gather business angels from all over the European Union. The office makes Krapina-Zagorje County part of the world's financial and business network aimed at facilitating…

ZAGREB, January 22, 2019 - Croatia is given a status of country free from Lumpy Skin Disease (LSD) by the European Union, and therefore there are no more any limitation for transport and import of domestic and wild animals of the bovine species, the Croatian agriculture ministry stated on Tuesday. "Croatia has officially become a country free from Lumpy Skin Disease, and it has no longer any restrictions on the trade of cattle and beef within the European Union," reads the press release. The decision to lift the restrictions on the trade of bovine animals from Croatia has been made…

Dubrovnik's Hotel Belvedere was once the symbol of luxury of the Pearl of the Adriatic, boasting incredible views over the sparkling Adriatic sea, the emerald island of Lokrum and the UNESCO protected Old City. Sadly, Dubrovnik's former top hotel, once one of the most luxurious on the Adriatic coast, fell victim to JNA shelling during the Homeland War, an attack from which it never recovered.  Today, the Hotel Belvedere stands cold and dead on the very outskirts of the eastern part of the city, emerging from a rock formation facing out towards the open sea. Clinging to the rocks as…

ZAGREB, January 21, 2019 - A World Business Angels Investment Forum (WBAF) office was opened in Zabok, northwestern Croatia as of Monday and it will gather business angels from all over the European Union. The office makes Krapina-Zagorje County part of the world's financial and business network aimed at facilitating access to capital for startups and scaleups, it was said at the opening. The WBAF is an international organisation helping new companies finance their business endeavours and the people that are part of it are called business angels. WBAF president Baybars Altuntas said at the inauguration that last year 340,000…

ZAGREB, January 21, 2019 - The government debt to GDP ratio fell in the European Union in the third quarter of 2018, and Croatia was among the countries with the largest decreases both month on month and year on year, according to data from the EU statistical office Eurostat released on Monday. "At the end of the third quarter of 2018, the government debt to GDP ratio in the euro area (EA19) stood at 86.1%, compared with 86.3% at the end of the second quarter of 2018. In the EU28, the ratio decreased from 81.0% to 80.8%. Compared with the…

ZAGREB, January 21, 2019 - The Croatian Minister of Maritime Affairs, Transport and Infrastructure, Oleg Butković, met with Chinese Transport Minister Li Xiaopeng in Beijing on Sunday for talks on cooperation in transport infrastructure, the possibility of Chinese companies using the northern Croatian Adriatic port of Rijeka and of opening direct flights between Zagreb and Beijing, the Croatian ministry said in a press release on Monday. Butković cited the Pelješac Bridge as the most significant project that provided a boost to cooperation between Croatia and China. He emphasised Croatia's favourable geographic position and informed his Chinese counterpart of activities Croatia…

ZAGREB, January 19, 2019 - The parliamentary committee on finances and state budget on Friday advertised a public call for applications for the post of the president of the Fiscal Policy Commission, and the applications can be submitted in the next 15 days. The requirements for applicants to qualify for this position are Croatian citizenship, university degree and eight years of experience in the field of public finances, the macroeconomic sector or in other branches of the economic policies. The seven-member Fiscal Policy Commission is appointed to a five-year term by the national legislature at the proposal of the finance…