Business

March the 19th, 2022 - Croatian Post, which is 100 percent state owned, and Finland's equivalent, have found common ground in the fact that they are both involved in a new initiative, The Climate Pledge. As Poslovni Dnevnik writes, Croatian Post has joined The Climate Pledge initiative - an international, cross-sectoral community of companies and organisations founded back in 2019 by Amazon and Global Optimism. Along with the Finnish postal service, Croatian Post has become the only postal operator to join this initiative in achieving zero carbon emissions by the year 2040 - ten years ahead of the Paris Agreement target.…

ZAGREB, 18 March (2022) - The main Zagreb Stock Exchange (ZSE) indices continued to rise on Friday, with the Crobex going up for the sixth trading day in a row, by 0.4% to 2,050 points, and the Crobex10 increasing for the eighth consecutive trading day, by 0.59% to 1,237 points. Regular turnover amounted to HRK 11.8 million, or HRK 4.2 million more than on Thursday. The HT telecom was the most traded stock, turning over HRK 2 million. Its price dropped by 0.26% to HRK 189 per share. The Optika Telekom stock generated a turnover of HRK 1.99 million, closing…

ZAGREB, 18 March (2022) - The net asset value of Croatia's mandatory pension funds (OMF) at the end of February amounted to HRK 129.99 billion, down HRK 3.1 billion or 2.35% compared to January, reflecting negative financial trends amid the escalation of geopolitical tension, the HANFA supervisory agency said on Friday. "The increased macroeconomic uncertainty in the first half of February resulted in an increase in global risk premiums, which was negatively reflected on valuations on financial markets, both foreign and domestic. The escalation of geopolitical tension in the second half of February created an additional external shock to the price of share and bond…

ZAGREB, 18 March (2022) - Fortenova Group said on Friday that the process of due diligence had been launched regarding the possible sale of an interest in the company, declining to reveal further details. Fortenova Group can confirm that due diligence regarding the possible sale of a stake has started but it cannot comment on any details, the group said in reply to a query from Hina. Fortenova Group executive director Fabris Peruško said on Thursday he expected the Russian state bank Sberbank to sell its interest in Fortenova Group. The Russian bank, which holds a 40% stake in Fortenova Group, is the group's biggest…

ZAGREB, 18 March (2022) - The average net pay in legal entities in Croatia in January 2022 was HRK 7,378 (€975), which is a nominal increase of 5.7% compared to January 2022, while in real terms the pay remained the same, data from the national statistical office (DZS) indicate. Compared to wages in December 2021, the average net wage for January was up by 1.3% in nominal terms and up by 1% in real terms. The median net pay in January was HRK 6,175 (€816), which means that half of the people employed earned wages below that amount and half earned wages above that amount.…

ZAGREB, 18 March (2022) - While the gas crisis is shaking Europe, Croatia is increasing its domestic production of that energy source, the Večernji List daily reported on Friday. According to the Croatian Hydrocarbon Agency, Croatia produced 0.78 billion cubic metres of gas last year, which satisfied 30 percent of the domestic gas demand which amounts to 2.7 billion cubic metres. With the production from new sources this year with an additional 285 million cubic metres of gas, total domestic production will exceed 1 billion cubic metres and will cover 40% of domestic demand. The agency notes that the new production…

March 18thund 2020 - An overview of the Croatian equity market and how it reacted to the Russian invasion of Ukraine. On the 24th of February 2022, a full-scale Russian invasion of Ukraine began. The world was struck and this was also evident when looking at the capital markets which reacted very suddenly and there was a lot of volatility in the markets. The Croatian equity market can be observed by looking at the benchmark index CROBEX10 which is made up of 10 Croatian blue-chip companies with the largest free-float, liquidity, and market capitalization. CROBEX10 fell by 6,47% on the…

ZAGREB, 17 March 2022 - The European Union's financial regulators on Thursday warned consumers that "many crypto-assets are highly risky and speculative", the Croatian National Bank (HNB) said. This warning comes in the context of growing consumer activity and interest in crypto-assets and the aggressive promotion of those assets and related products, especially through social media. The warning was issued by the European Supervisory Authorities (ESAs) that consist of several regulators whose including the EBA, ESMA and EIOPA. Consumers should be aware of "the lack of recourse or protection available to them, as crypto-assets and related products and services typically fall…

March the 17th, 2022 - The Dubrovnik marina (ACI Dubrovnik) is undergoing a massive 35 million kuna revamp in order to allow it to accommodate larger yachts and other such vessels. As Poslovni Dnevnik/Suzana Varosanec writes, the Dubrovnik marina (ACI) is now at the end of the development project through capital investments in which it has undergone the largest infrastructure works in the last 30 years. This is the key of this investment for much-needed development in order to properly keep up with current nautical trends. In the new season, the Dubrovnik marina will be ready to answer an increasing…

March the 17th, 2022 - The Croatian company Span has purchased Ekobit in its thirtieth year of existence, planning new market expansion and further strengthen their already enviable position. As Poslovni Dnevnik/Lucija Spiljak writes, the Croatian company Span has taken over Ekobit, one of the leading Croatian companies for development in transactions, worth a huge 37.4 million kuna. With this, they confirmed that according to the IPO, they want to continue to grow, expand and further strengthen their position on the market. According to the decision of the previous owners of Ekobit, a part of the price in the amount…