Business

ZAGREB, January 13, 2019 - Economy Minister Darko Horvat told reporters in Krapina on Sunday that the government was intensively talking to several partners about the Uljanik shipyard, that the public would receive information on January 18 and that whether or not a financial offer would follow would be known on January 25. Asked about negotiations with potential investors in the Uljanik dock, the minister said that as of yet nobody had made an offer, adding however that "a data room" had been opened and that two partners were conducting due diligence. "We expect another serious partner to join the…

Christmas might be behind us for another year (well, almost another year), but the heartfelt news of Croatian companies in all fields and sectors having paid out huge bonuses to their employees up and down the country is enough to bring the generous spirit of the season right back again. As Poslovni Dnevnik writes on the 12th of January, 2019, while they couldn't pay themselves a tax free cash sum, Croatian companies and employers made sure to reward their loyal employees a total of 2.4 billion kuna in Christmas bonuses and similar rewards last month, and a further one billion…

The Viadukt construction company announced the sale of its stake in the concessionaire of Zagreb Airport at a starting price of seven million euro. However, according to the company’s bankruptcy manager Milorad Zajkovski, there were no interested buyers. Therefore, the company will soon announce a new call, with the same initial price, reports Večernji List on January 12, 2019. Viadukt owns a share of 5.11 percent in the ZAIC-A Limited company, which is registered in the United Kingdom and which won the Zagreb Airport concession tender. The rest of the shares are owned by French companies Aeroports de Paris Management…

As Poslovni Dnevnik writes on the 11th of January, 2019, the most successful company in Agrokor's latest reporting period was Konzum, which has continued to deliver handsome revenue and operating profit despite having faced a very long period of uncertainty and adversity. The 21st monthly business report was published by sixteen companies from the following business segments within Agrokor - retail and wholesale, food and agriculture, covering the period from the 11th of December, 2018, to the 10th of January, 2019. Operations in the first eleven months of 2018 saw companies realise as much as 21,508 million kuna in revenue,…

Investments in Croatia come in various forms, and while we tend to read about either investors running for the hills when faced with Croatia's draconian love of red tape, or investments being made in the tourism sector along the coast, large sums of cash are continually being poured into both the healthcare and the education sectors, with one county standing out from the crowd. As Poslovni Dnevnik writes on the 10th of January, 2019, as much as 10.5 million kuna has been invested in school renovations in Koprivnica-Križevci County, the co-financing of school transport, and the largest number of scholarships…

ZAGREB, January 10, 2019 - Croatia's government on Thursday sent to parliament a draft act on the ratification of the treaty on the establishment of Inter-American Investment Corporation. Based on the 1993 regulations on the succession to the former Socialist Federal Republic of Yugoslavia (SFRY), Croatia's adoption of the relevant legislation on the membership of IDB (Inter-American Development Bank) implies that Croatia embraces that membership and thus possesses 6,895 shares worth 83.8 million dollars in the IDB bank's equity, Finance Minister State Secretary Zdravko Zrinušić said at the government's meeting today. In 2015, the annual general assembly of the IDB…

ZAGREB, January 10, 2019 - Works on the Pelješac Bridge and its access roads is going according to schedule, Minister of Maritime Affairs, Transport and Infrastructure Oleg Butković told reporters before a cabinet meeting on Thursday. "We will build everything as planned," he said, adding that the European Union had approved funding for 85 percent of the cost of the entire project. Butković recalled that the project would be carried out in four stages and that work on the first stage was under way. Asked why contractors had still not been selected for the construction of access roads, he replied:…

Last year, property owners demanded eight per cent more money for their apartments, while houses saw a rise of 4.5% in the asking prices compared to 2017. In the last two years, apartment asking prices have risen by as much as 13 per cent, while house prices rose more than 7 per cent, according to an annual analysis by Njuškalo conducted on a sample of more than 150,000 real estate ads from its base, reports Poslovni.hr on January 9, 2018. The website also recorded significant annual growth in the number of visitors to its Real Estate category. In 2018, there…

ZAGREB, January 9, 2019 - The World Bank has mildly increased the outlook on Croatia's economic growth this year, warning that activities in Croatia, Bulgaria and Romania are held back by softening exports and labour shortages. Croatia's economy is projected to grow 2.8% this year, the World Bank said on Tuesday. In last June's outlook, the growth was projected at 2.7%. The World Bank projects that Croatia's economic growth in 2018 was 2.7%, revising upwards the projection from last June by 0.1 percentage points, while upholding the growth projection for 2020 at 2.8%. In 2021, growth is projected to slow…

ZAGREB, January 8, 2019 - In December 2018, the Economic Sentiment Indicator (ESI) increased markedly in Croatia, reflecting the optimism wave in both the services and retail sectors, according to European Commission's monthly survey, released on Tuesday. The ESI for Croatia in December 2018 was up two points from November, reaching 117.4 points, which is its highest level since May 2018. The biggest increase in December was recorded in services confidence (+5.6 points, reaching 21.9 points), followed by retail trade confidence (+5.2 points, increasing to 7.8 points). A marked decrease was recorded in construction confidence which was up 1.7 points,…