Business

February the 7th, 2022 - Energy prices are continuing to increase, and with it many other services could also see price hikes. How much could Croatian coffee prices in cafes and bars actually increase by? Many claim the idea of 20 and 25 kuna are ridiculous, but a kuna or two here and there is certainly likely... As Jutarnji list/Novac/Vedran Marjanovic writes, according to Rijeka-based cafe owner Vedran Jakominic, there is no basis for Croatian coffee prices to increase to 20, 22 or 25 kuna, we can talk about price increases of a kuna or two, but not much more.…

February the 5th, 2022 - The Pozega company Plamen has recorded some extremely encouraging results, mostly related to exports, despite these continually challenging times. More controversially, it decided to reward its employees for getting vaccinated against the novel coronavirus by providing monetary bonuses. As Poslovni Dnevnik writes, according to the company's procurator Vinko Matijevic, the Pozega company Plamen generated a massive 280.6 million kuna in revenue last year, which is an increase of as much as 67 percent when compared to the previous year. Net profit amounted to 49 million kuna and was 70 percent higher, Radio Vallis Aurea wrote on…

February the 5th, 2022 - The replenishment of the Croatian Aircash wallet via the Paysafe platform is now available in twenty different countries, but ironically NOT here in Croatia, where the Aircash app was created and developed. As Poslovni Dnevnik/Ivan Tominac writes, the Croatian fintech Aircash and the multinational online payment platform Paysafe have concluded a cooperation that allows Aircash wallet users to top up their wallets directly with cash in more than twenty countries across Europe, from Austria to Sweden. When they want to add cash to their account, Croatian Aircash wallet users choose the "cash" option as a…

ZAGREB, 4 Feb 2022 - The Croatian National Bank (HNB) on Friday awarded the authors of the most successful designs of the Croatian national motifs on future euro coins, and HNB Governor Boris Vujčić said that the changeover from kuna to euro cash would cost over HRK 900 million. The production of euro banknotes and coins which have to replace the current kuna banknotes and coins will cost more than HRK 900 million. This is quite expensive for the HNB, said the governor at the ceremony at which the authors of the best designs of the Croatian euro coins were…

ZAGREB, 4 Feb 2022 - Last year, Croatian producers generated €106 million in sales through Spar's retail network in Italy, Austria, Slovenia and Hungary, which is €6 million more than in 2020, the retail chain said in a statement on Friday. The largest increase in sales was observed in Austria, where the four leading Croatian exporters recorded an increase in revenues of as much as 40 per cent compared with the record-breaking 2019. The data shows that Italians love Croatian truffles and cod, while Hungarians are fond of Croatian ice-cream and water. Last year, Slovenians discovered Dobro cured meat products…

ZAGREB, 3 Feb 2022 - PIK Vrbovec is Croatia's first meat company that has begun exporting to Japan, the Ministry of Agriculture said in a statement on Thursday. After meeting the strict Japanese meat processing and production criteria, last month PIK Vrbovec made its first delivery of baby beef to the HoReCa channel in Japan. The company was issued with an HVI 21-2 veterinary certificate thanks to successful cooperation between the Croatian Ministry of Agriculture and the Japanese Ministry of Agriculture, Forestry, and Fisheries. The CEO of PIK Vrbovec, Slaven Ružić, was quoted as saying that this is a very…

February the 3rd, 2022 - Could coffee become a luxury? This Croatian custom which involves sitting around a (usually really small) cup of coffee for hours on end while putting the world to rights might be affected by the introduction of the euro as Croatia's official currency next year. As Novac/Jutarnji writes, how we can avoid price increases is a question that is becoming more and more important as the introduction of the euro approaches. In the run up to the change, mechanisms are needed to monitor prices - such as their double expression, and, ultimately, so-called blacklists. The Croatian…

February the 3rd, 2022 - The Dubrovnik Valamar portfolio reshuffle has been completed, and a new investment cycle is set to begin this autumn, following the main summer tourist season. As Poslovni Dnevnik/Marija Crnjak writes, Valamar Riviera announced on Tuesday that a transaction with Imperial Riviera was concluded on the last day of January, on the transfer of the Dubrovnik Valamar portfolio to Imperial. These are three hotels which boast a total of 947 accommodation units, Valamar Lacroma Dubrovnik Hotel, Club Dubrovnik Sunny Hotel by Valamar and Tirena Sunny Hotel by Valamar, with an acquisition value of 95.3 million euros…

ZAGREB, 2 Feb 2022 - Raiffeisenbank Austria (RBA) analysts estimate that Croatia's economy grew by 9.2% in 2021, a projection that is subject to positive risks. With regards 2022, they are sticking to their GDP growth estimate of 4.4%, according to the bank's quarterly report RBAnalize published on Wednesday. In early November 2021, RBA analysts had expected a GDP growth rate of 7% in 2021. However, in late November official statistics showed that GDP in Q3 2021 had risen 15.8% compared to the same period in 2020, revising their initial estimate and forecasting that economy in 2021 could grow by more than…

ZAGREB, 2 Feb 2022 - Croatia's construction and zoning ministry has developed a new e-service, a construction site diary application within its zoning information system, the ministry stated on Wednesday. The development of the whole module was financed by the European structural and investment funds. The total project cost amounted to HRK 4.85 million (647,000 euros), with 85% of these costs having been covered by the European Regional Development D+Fund. The application enables authorized persons such as those in charge of construction sites as well as investors, to gain insight on all construction projects and worksite processes, including all events and…