Business

February the 21st, 2022 - The Israeli company Whitesource has purchased the Croatian DefenseCode, which was initially founded way back in the year 2000 by IT expert and hacker Leon Juranic. As Poslovni Dnevnik/Lucija Spiljak writes, this is the latest exit of a Croatian company specialising in application security. As its founder Leon Juranic pointed out, he founded the company back in 2010 "with one laptop and a lot of knowledge and will". He has since developed the Croatian DefenseCode ThunderScan and DefenseCode WebStrike solutions that the company sells abroad, mostly in the United States. "After they contacted me, I…

ZAGREB, 19 Feb 2022 - A total of 807 banknotes of all currencies were withdrawn from circulation in Croatia in 2021, which is 77.8% more than in 2020, and 198 of them were counterfeit kuna banknotes, which is an increase of 26.1%, the Croatian National Bank (HNB) said earlier this week. Kuna banknote counterfeiting accounts for a quarter of fake banknotes The kuna banknote counterfeits accounted for 24.5% of all counterfeit banknotes registered last year. The most frequently counterfeited domestic currency denomination was the 200 kuna banknote, which accounted for 98 registered counterfeit kuna banknotes, or 49.5% of the total registered kuna banknote…

ZAGREB, 20 Feb 2022 - There were 307,413 business entities registered in Croatia at the end of December 2021, and 54.7% of them, or 168,242, were active, according to data from the national statistical office (DZS). The majority of the registered entities were trade companies (230,741), of which 133,928 of 58% were active. There were 73,113 institutions, bodies and organisations, of which 34,844 were active, while the number of cooperatives stood at 3,539, including 800 active ones. At the end of December 2021, there were also 88,205 crafts and freelancers in Croatia. Broken down by activity, the majority of business…

ZAGREB, 20 Feb 2022 - A total of 43 contracts, worth 1.98 billion kuna, have been signed so far for the post-quake reconstruction of health institutions in Zagreb and its surroundings, since the 22 March 2020 devastating earthquake, according to the data provided by the Health Ministry. Since the advertisement of a tender inviting healthcare institutions to apply for EU grants, there have been 60 applications, most of which are from university clinical centres, general hospitals and local health centres. Croatia will be able to use money from the European Solidarity Fund (ESF) for earthquake relief until June 2023, one year…

February 20th, 2022 - The new hotel should have 150 rooms and suites, as well as a residential part with 115 apartments that will make up a 'mini city' complete with restaurants, bars and shops It’s been a long time coming, but it seems that construction works are finally about to begin on the old Maraska building in Zadar. The former factory is to be transformed into a high-category Hotel Hyatt with an addition of a residential area, owned by the Turkish Dogus Group. As reported by Slobodna Dalmacija, a source from the Dogus Group said that cleanup works are underway…

February the 20th, 2022 - Selection MM, a very well known Croatian luxury food importer owned Marijo Mendek, has unfortunately entered pre-bankruptcy proceedings. As Poslovni Dnevnik writes, the Commercial Court in Zagreb has opened the pre-bankruptcy proceedings of Marijo Mendek's company Selection MM, known as the most famous Croatian luxury food importer and premium wines. The move was initiated at Mendek's own request due to "threats of insolvency" as well as blocked accounts and an established debt of about 219,000 kuna. In his own proposal, Mendek also listed the assets owned by MM Selection, which also includes the MM building…

February the 19th, 2022 - The set of Croatian inflation measures which were revealed just this week and which aren't due to come into force until April the 1st this year have many companies with increasing bills biting their nails. For many, it isn't being dealt with quickly enough. As Poslovni Dnevnik/Marija Brnic writes, while it's excellent that the government has recognised the spirit of the economy and the level of damage that can be caused by rising energy prices, this is only a rough framework and much will depend on how the implementation of Croatian inflation measures is defined…

February 19th, 2022 - Croatian craft beer scene - an overview of the beer revolution in the country.  It is quite difficult to settle on just one definition of craft beer. To fully understand the meaning of the phrase craft beer we have to understand what makes a craft brewery or sometimes called a microbrewery. According to the American Brewers Association, a craft brewery is a brewery that is: independent (up to 24% of that brewery can be owned by another company that is not in the craft brewing industry) uses traditional ingredients in the process of making beer does…

ZAGREB, 18 Feb 2022 - The main Zagreb Stock Exchange (ZSE) dropped for the second consecutive day on Friday, the Crobex by 0.8% to 2,121 points, and the Crobex10 by 0.99% to 1,289 points. The indices also ended the week in the red, with the Crobex falling by 2.01% and the Crobex10 by 2.25%. All sector indices fell today, and the transport index saw the biggest decrease, of 2.6%. Regular turnover amounted to HRK 6.6 million, or about HRK 2.8 million less than on Thursday. The most traded stock was Hrvatska Poštanska Banka, which turned over HRK 948,000, its price…

ZAGREB, 18 Feb 2022 - Retailers won't increase their margins and the price of food will go down, the Večernji List daily reported on Friday, citing the Lidl supermarket chain which has announced lower prices as of March already, one month before the government's decision to cut VAT rates on certain food products goes into force. Prices for all categories for which the government has decided to lower VAT will certainly fall. Retailers will not increase their margin because nobody can afford to be more expensive than their competition, and when margins remain stable, prices will decrease by the difference in VAT, the…