Business
Tuesday, 15 March 2022
Intellias: Ukrainian IT Company in Zagreb Begins Hiring Process in Balkans
March the 15th, 2022 - We recently wrote about the Ukrainian company Intellias choosing to move their planned Novi Sad development centre to Zagreb, citing pro-Russian views of the Serbian Government that they could naturally never support. They're now going to be employing people from across the Balkans from right here in Zagreb. As Poslovni Dnevnik/Lucija Spiljak writes, one of the largest Ukrainian IT companies, Intellias, recently announced that it was giving up on opening a development centre in Novi Sad, Serbia this spring, and moving it instead to Zagreb. Although the company's decision to relocate is fresh, they have already…
Monday, 14 March 2022
Increasing Number of Croats Driving to Hungary to Buy Cheaper Fuel
March 14th, 2022 - Soaring fuel prices have left some Croats with no choice but to head over the border to Hungary where fuel is significantly cheaper There is a small Hungarian town called Letenje, located right next to the Croatian border. Formerly known as a shopping mecca, the town is nowadays visited by Croatian guests for one specific purpose: filling up their fuel tanks. Fuel is significantly cheaper in Hungary compared to the current prices in Croatia, writes HRT, whose reporters talked to Croatian customers at a petrol station in Letenje. ‘I come from a village five kilometres away…
Monday, 14 March 2022
20 Hotels in Central Dalmatia For Sale: A Breakdown
March 14, 2022 - At the beginning of March, about 20 hotels in Central Dalmatia were currently for sale. A closer look at the hotels on offer from Split to Brač and Omiš. Hotels make up a small percentage of the Croatian real estate market and, unlike residential properties, do not arouse the general public's interest. The exceptions are, of course, significant transactions, such as when Eagle Hills Zagreb Real Estate bought a 70 percent stake in Sunce Hoteli, owned by Jako Andabak's family. However, this does not mean that this part of the market is not attractive, both in…
Monday, 14 March 2022
Croatian Tech Companies Have Chance at EIB Cash Earmarked for Dual Research
March the 14th, 2022 - Croatian tech companies now have a chance at getting their hands on a slice of the ''cake'' being offered by the European Investment Bank (EIB) following the launch of a Strategic European Security Initiative (SESI) worth up to 6.6 billion euros by the year 2027. As Poslovni Dnevnik/Ana Blaskovic writes, with the war continuing to rage in Eastern Europe following the Russian invasion, both EU and non-EU European countries are turning to stronger investment in defense and security. The aforementioned money is earmarked for dual research (for civilian and military use), development and innovation, civilian…
Saturday, 12 March 2022
Croatian Beer Industry: Biggest Players, Trends, and Market Position
March 12th, 2022 - TCN intern Toni Petričić takes a look at the Croatian beer industry in 2020. In this industry overview, I will try to analyze the Croatian beer industry and show its structure, the most prominent players, trends, and position compared to other beer markets. From the latest statistical report from the European Brewers association, we can see that there are 98 breweries registered in Croatia, which had a total of 1690 direct employees. In 2020, the Croatian beer industry shrunk by 12% compared to 2019, according to Heineken Hrvatska financial reports. The pandemic year was marked by…
Saturday, 12 March 2022
Textile Businesses Net HRK 81m in Profits in 2020
ZAGREB, 12 March 2022 - In 2020, textile businesses netted HRK 81 million in profits, up 42.4% on the year, according to the Financial Agency. That year there were 334 textile businesses with 3,521 employees. Their revenues totalled HRK 1.6 billion, down 4.2% on 2019, while expenditures were HRK 1.5 billion, down 5.6%. Profits totalled HRK 99.5 million (+17.1%), while losses were HRK 18.6 million (-34.1%). Most of the textile businesses operated in Zagreb (84), followed by Primorje-Gorski Kotar County (33) and Krapina-Zagorje County (27). The average net monthly pay was HRK 4,618, up 5.6% from 2019 but down 22.7% from the…
Saturday, 12 March 2022
Croatian Company Infobip Stops Working With Sanctioned Russian Firms
March the 12th, 2022 - The remarkable Vodnjan-based Croatian company Infobip, which has made quite the name for itself not only here in Croatia but across the rest of Europe and indeed the world, has suspended its operations in Russia following that country's unjustified invasion of neighbouring Ukraine a couple of weeks ago. As Poslovni Dnevnik writes, the well known Croatian company Infobip has offices in both Ukraine and Russia, which are now two countries at war. In Russia, they have offices in Moscow and St. Petersburg, where they employ about 200 people. They issued a statement on Wednesday given the…
Friday, 11 March 2022
New Croatian Post Logistics Centre for Kvarner and Istria Opens
ZAGREB, 11 March 2022 - A new Croatian Post logistics centre for the Kvarner and Istria region, worth nearly HRK 60 million, was opened on Friday in the Kukuljanovo industrial zone in the Bakar area. The 4,200-square-metre centre has areas for sorting, transporting and delivering mail, a distribution facility and workshops as well as a post office. Over 300 employees work at the new location. A modern business centre for the Kvarner and Istria region will improve the quality of delivery in that area. Its construction completed the largest investment cycle of Croatian Post, and Istria and Primorje-Gorski Kotar counties now have one…
Friday, 11 March 2022
Unionists Warn of Untenable Situation in Đuro Đaković Because of Russian Owner
ZAGREB, 11 March 2022 (2022) - The Croatian Metal Workers (SMH-IS) on Friday called on the government to urgently help the Đuro Đaković Termoenergetska Postrojenja (TEP) company so that it can operate normally, while its business is currently affected by the fact its owner is a Russian added to the sanctions list. The president of the Independent Trade Unions Federation, Mladen Novosel underscored that the unions are aware of the situation in Croatia as a consequence of the conflicts in Ukraine. The war has resulted in many problems for Croatian companies with the increased price of energy. The Đuro Đaković TEP is…
Friday, 11 March 2022
Croatia's January Exports Up by 43.7%, Imports by 43.9%
ZAGREB, 11 March (2022) - Croatia exported HRK 12.3 billion worth of commodities in January 2022, which is an increase of 43.7% over the same period in 2021, while imports rose by 43.9% to HRK 18.8 billion, according to initial data released by the National Bureau of Statistics on Friday. The foreign trade deficit was HRK 6.6 billion, increasing by 2 billion from January 2021. Coverage of imports by exports was 65.1%. Exports to EU member states rose by 50.4% from January 2021 to HRK 8.97 billion, while imports increased by 27.4% to HRK 13.6 billion. Exports to non-EU countries…
Friday, 11 March 2022
Croatia's 2021 Electronic Communications Market Revenues Up 3.6%
ZAGREB, 11 March (2022) - The Croatian electronic communications market generated HRK 11.5 billion in revenues in 2021, up by 3.6% on 2020, while investment increased by 20.5% to exceed HRK 3 billion, according to data from the regulatory authority for network industries HAKOM. Of the total revenue, HRK 615 million was generated by very high capacity fixed networks, which is an increase of 115.5% compared with 2020. The number of optical fibre connections increased by 33.7%. Revenues from broadband internet services increased by 11%, from network and cable leasing services by 4.6% and from pay television by 4.2%. The…
