Business

November the 15th, 2021 - Online shopping has always been the favourite way of getting things done from the comfort of your own home in other parts of Europe, but until recently, more precisely until the coronavirus pandemic erupted, it lagged here in Croatia. Things have now dramatically changed and numerous big players are entering the Croatian e-commerce world. As Novac/Jutarnji/Bernard Ivezic writes, the growth of Croatian e-commerce is fast heading towards numbers around the one billion euro mark next year, and as the hasty entry of large foreign players has flooded the Croatian online shopping market, an equally significant…

ZAGREB, 13 Nov, 2021 - The credit rating is important for the price of borrowing for the state, businesses and citizens as its upgrade lowers the risk premium, which has a favourable effect on the price of capital, Finance Minister Zdravko Marić told Hina on Saturday. The Fitch Ratings agency yesterday upgraded Croatia's rating to BBB, the best in Croatia's history, with a positive outlook. Marić said the rating was first of all closely related to debt price and the capital price for the state and, directly or indirectly, for the interest paid by businesses and citizens. The Fitch rating has a…

ZAGREB, 13 Nov, 2021 - Prime Minister Andrej Plenković said on Saturday Croatia's likely entry into the euro area in 2023 was a signal and message to the investment community that the government's economic and fiscal policies were correct, just as in the case of Fitch Ratings, which upgraded Croatia's credit rating. "The key and anchor of our economic course, as a result of which the European Commission, rating agencies and international financial institutions have increasing confidence in our policy, is accession to the euro area. Further guidance for our entry, which we expect in June and membership in the euro area on 1…

November 13, 2021 - Croatian AI startup Mindsmiths received 1.2 million euros in seed funding from Feelsgod investment fund which supports companies with proven positive social impact. Mindsmiths will use this investment to further develop and expand its AI platform.  Mindsmiths is a pioneer in the field of Autonomous Support System (ASS). By connecting with the Mindsmiths platform, digital systems become autonomous, make independent decisions, and approach users proactively. “When your doctor, bank, mobile provider, or educational institution proactively offers you a solution to a problem it has identified, there is a great possibility that it was made possible by…

November the 13th, 2021 - Croatian winemakers had an understandably significant drop during pandemic-dominated 2020, as many of their sales channels had little use in remaining operational as lockdowns and epidemiological measures devastated the catering and hospitality sector. As Poslovni Dnevnik writes, last year, 254 Croatian winemakers were in operation across the country, with a consolidated net loss of 53.5 million kuna, almost five times more than the year before, as Fina data published on Thursday showed. Last year, these same Croatian winemakers generated 529.1 million kuna in revenue, which is a decrease of 21.1 percent. At the same time,…

November the 13th, 2021 - The Znjan bay concession in the City of Split has been granted to the Znjan trading company for a period of forty years by the Croatian Government. As Poslovni Dnevnik writes, at a session held on Thursday, the government decided to grant a forty-year concession to the Znjan trading company for the purpose of building and the subsequent commercial use of the beach in Znjan bay in Split, and the Znjan bay concession holder is now free and obliged to invest a total of 225.6 million kuna in this location, classed as maritime domain. The…

November the 13th, 2021 - The Croatian company Infobip, the country's first ever unicorn, now also has the largest number of shareholders. This Vodnjan-based company has gone from strength to strength and made truly remarkable progress, and it seems that isn't slowing down yet. As Novac/Bernard Ivezic writes, the Croatian company Infobip has moved one step closer to the stock market. It is no longer just the first Croatian unicorn and the largest domestic startup to date, but also the one with the most shareholders of all. Infobip has also now launched its own ESOP programme for all of its…

ZAGREB, 12 Nov 2021 - At the end of October 2021 242,000 Croatians owed HRK 18.2 billion while 15,200 businesses owed HRK 4 billion, show data from the Financial Agency (FINA). The number of physical persons with a debt of 242,114 was almost the same as in the previous month and 2.1% down from October 2020. Their debt principal amounted to 18.2 billion, 0.4% more than in September 2021 and 4.9% more than in October 2020. With an interest debt of HRK 6.8 billion added to that amount, natural persons owed a total of HRK 25 billion. Most of the debt, amounting to…

ZAGREB, 12 Nov 2021 - The average net pay in legal entities in Zagreb in August 2021 was HRK 8,252 (€1,099), an increase of 6.8% from August 2020, according to data from the city department for strategic planning and development. The average wage in the capital city was HRK 1,134 higher than the national average, which totalled HRK 7,118 (€948). The highest average monthly net pay in legal entities in Zagreb was paid in oil and natural gas extraction (HRK 14,408) and the lowest in the production of leather and related products (HRK 4,471). The average monthly gross pay in legal entities…

November the 12th, 2021 - Darko Pervan is set to build Hotel Slano in Slano, close to the City of Dubrovnik in the extreme south of Dalmatia, investing a massive eighteen million euros in the process. As Poslovni Dnevnik/Suzana Varosanec writes, with the recently obtained building permit, the first greenfield hotel-tourist project of the Swedish-Croatian entrepreneur Darko Pervan is starting its full realisation in the form of Hotel Slano. In the public eye, Darko Pervan is most perceived for having made significant investments in the domestic wood processing industry and for the successful operation of several export-oriented wood companies in…