Business

March 7th, 2022 - An overview of the Croatian Energy Sector 2021.  The energy sector is a hot topic these days, and it is not a coincidence since rising prices of electricity, natural gas, and crude oil determine the prices in the overall economy. Energy prices determine the production costs, transportation costs, electricity costs, heating costs among many others. There is a rising concern over the ecological impact of the energy sector as well as the geopolitical impact that has never been more relevant.  Taking into consideration the aforementioned effects, I will shortly go through the energy statistics for 2021…

ZAGREB, 6 March 2022 - The cooperation between Croatia and the United Arab Emirates will soon become more intensive and more serious, Croatian Prime Minister Andrej Plenković said at a business forum between the two countries in Dubai on Sunday. Plenković, Finance Minister Zdravko Marić, Foreign Minister Gordan Grlić Radman and Tourism Minister Nikolina Brnjac arrived at Expo 2020 on the occasion of Croatian National Day at the exhibition. They came to Dubai with numerous Croatian business people who attended the business forum. "I would say that this stay at Expo, such a big turnout of Croatian business people and this business forum will…

ZAGREB, 6 March 2022 - Prime Minister Andrej Plenković on Sunday attended the marking of Croatian National Day at Expo 2020 Dubai, saying Croatia is a "country of investors" and that it has centuries-long ties with the Arab world. Croatia is attending Expo for the first time since 2010 in China. Today the Croatian Pavilion at Expo 2020 was visited by Sheikh Nahyan bin Mubarak Al Nahyan, a member of the United Arab Emirates government and commissioner of the exhibition. "UAE-Croatia relations have been growing considerably in the last decade and we wish to expand the cooperation in the commercial, political and cultural…

March 6th, 2022 - Jadran Crikvenica investments which have been being pumped into this hotel company will now finally result in pay rises for employees. As Poslovni Dnevnik/Marija Crnjak writes, the company Jadran Crikvenica will increase its staff salaries by 12 percent from April the 1st this year, as was agreed between the social partners of the Trade Unions of Istria, Kvarner and Dalmatia and STUH with that company's administration. In addition, workers in hotel operations for the most intensive period of the season, ie from June the 1st to September the 30th, will have their net salaries increased by…

ZAGREB, 5 March 2022 - Croatia should "pay great attention" to the Gulf countries which are big investors, Prime Minister Andrej Plenković said in Dubai on Saturday on a visit on the occasion of Expo 2022.  "This part of the world, the United Arab Emirates, Qatar, Kuwait, Saudi Arabia, they are all countries we should pay great attention to," he said, adding that they invest a lot "thanks to their oil fields." Plenković is visiting the UAE together with Finance Minister Zdravko Marić, Foreign Minister Gordan Grlić Radman and Tourism Minister Nikolina Brnjac. They will try to attract Arab investment at the Dubai-Croatia Business…

ZAGREB, 4 March (2022) - The main Zagreb Stock Exchange (ZSE) indices slumped again on Friday, after yesterday's brief recovery, thus increasing the loss on the week to about 4.5%, which is a consequence of the pressure of the Ukrainian crisis on the world stock market, as well as the domestic one. The Crobex fell by 1.94% on Friday, to 1,946 points, its lowest level since August 2021. At the same time, the Crobex10 dropped by 1.86% to 1,176 points, its lowest level since April 2021. All sector indices went down, and the construction index saw the biggest decline, of…

tokicMarch 4, 2022 - The T1 Meetup organized by the Tokić Group was held in Zagreb about the future of the European automotive industry.  For two days, Zagreb was the center of the European automotive industry and a gathering place for thirty experts in the field of mobility, digitalization, and user experience, to jointly present and discuss common views on the future of the sector. T1 Meetup organized by the Tokić Group has grown in recent years from an internal workshop where the Management transparently develops and shares business plans with employees, to an impressive, probably the largest regional conference on…

March the 4th, 2022 - The Croatian National Bank (CNB/HNB) has sold a massive 171 million euros to various banks in a recent exchange rate intervention, the first which has taken place since back in June last year. As Jadranka Dozan/Poslovni Dnevnik writes, on the 2nd of March, the Croatian National Bank intervened in regard to the exchange rate by selling off foreign exchange to banks in order to preserve the stability of the exchange rate, while 171 million euros were sold to banks at an average exchange rate of 7.562505, the central bank announced. As a result of this foreign…

ZAGREB, 3 March 2022 - The head of the Croatian Deposit Insurance Agency (HAOD), Marija Hrebac, said on Thursday that the resolution of Sberbank Croatia had prevented a negative scenario, that the bank had been saved and that it is continuing to operate normally.  Due to a rapid deterioration of liquidity, the European Central Bank announced on Monday that Sberbank Croatia "is failing or likely to fail" and notified the Single Resolution Board (SRB), the central resolution authority within the Banking Union. The SRB adopted a decision on a two-day moratorium on the operations of Sberbank Croatia, which ended at midnight on…

ZAGREB, 3 March 2022 - INA, the leading Croatian oil, and gas, has been given "an exploration license for the East Bir El-Nus concession (Block WD-8), located in Egypt’s Western Desert," the leading Croatian oil and gas group stated on Thursday. "This is a follow-up to INA's activities on this key foreign market for the company in terms of oil and gas exploration and production," the press release says. "INA enters the new exploration license as a 50% partner, while the remaining 50% is held by Energean, which will also be the operator. In the coming period, Energean and INA will finalize…