Business

ZAGREB, July 17, 2020 - The General Shareholders’ Assembly of INA, a leading oil and gas company in Croatia, is scheduled for 26 August with the proposal for dividend payment in the amount of HRK 622.7 million on the agenda, that is HRK 62.27 per share, according to invitations sent on Friday for the general assembly. In late March, INA's management and supervisory boards decided on a dividend payment from the oil and gas company's 2019 net profit which totalled HRK 656 million while the sum to be allocated for dividend payment is HRK 622.7 million, which means HRK 62.77 per share. The unofficial calculation of…

ZAGREB, July 16, 2020 - The Ministry of Agriculture is following the situation in the dairy sector and will soon meet with representatives of leading dairy industries, Minister Marija Vuckovic said on Thursday, commenting on a decision by the Meggle company to phase out its production in Croatia by the end of the year. After Meggle Croatia announced that it would phase out its production in Croatia, the ministry has been following the situation, and very soon it will meet with representatives of leading dairy industries to ensure the continuation of milk production at dairy farms that sell their milk to Meggle, the minister…

ZAGREB, July 16, 2020 - The Meggle Croatia dairy company said on Thursday it was restructuring its operations in Croatia and that it would phase out production in Osijek by the end of the year, laying off 160 workers. The German-based Meggle Group is optimising its operations with the aim of setting business models viable in all markets in the long term, the company said in a press release, adding that a decision was therefore made to restructure operations in Croatia and phase out production in Osijek. As of January 1, Meggle will operate in Croatia under a new business…

As Poslovni Dnevnik writes on the 15th of July, 2020, despite the coronavirus crisis, Hrvatski Telekom/Croatian Telecom (HT) is continuing with its numerous planned investments in digital infrastructure - the backbone of development, and now for the recovery of the enfeebled domestic economy. In addition to boasting the fastest network in Croatia, Croatian Telecom received the Ookla certificate, a globally recognised company which works on testing the speed and quality of mobile networks. Croatian Telecom received the certificate this year for offering the best mobile coverage in the country. This is the second year in a row that Croatian Telecom…

European countries are continuing to slash the VAT on services performed in the tourist industry to try to rescue their respective economies which have been enfeebled by the ongoing coronavirus pandemic. Croatia, for whom VAT has always been a burning issue, is unsurprisingly continuing to hold off... As Poslovni Dnevnik writes on the 15th of July, 2020, in order to at least temporarily help the tourism sector out, which is among the most devastated by the pandemic, many European countries, including Croatia's own tourism competitors, have decided to temporarily slash VAT on tourism services. As HOTREC, the European Association of…

The planned Mostar North - Siroki Brijeg - Croatian border expressway will relieve the road network of the City of Mostar in neighbouring Bosnia and Herzegovina, and it will also be the northern bypass of the city. The Croatian IGH Institute has contracted the job. As Poslovni Dnevnik writes on the 14th of July, 2020, o Monday, the IGH Institute, as a leading member of the community of bidders, along with IGH Mostar, Integra Mostar and Geocon Citluk, signed a contract with JP Autoceste Federacije BiH for the development and conceptual design of the Mostar-Široki Brijeg-Croatian border highway, which comes…

ZAGREB, July 14, 2020 - The Croatian-Slovenian commission overseeing an agreement between the two countries on the regulation of relations concerning the jointly owned Krsko nuclear power plant met in Zagreb on Tuesday and approved the third revision of decommissioning and radioactive waste disposal programmes. The commission, meeting for the 14th time, discussed the work of the plant and the funds raised for decommissioning and waste disposal, the Croatian Environment and Energy Ministry said in a press release. Croatian Environment and Energy Minister Tomislav Coric and Slovenian Infrastructure Minister Jernej Vrtovec said they were pleased with the final approval of the programme revision. "I…

July 13, 2020 — A Croatian company’s air filtration system won an “Inventions vs. Corona” contest. Kristalna Ideja’s air filtration device, iTherapy, was awarded a gold medal at the international competition "Inventions VS Corona”, beating out 202 products from 35 countries. The Split-based company’s product deactivates bioaerosols, bacteria and viruses in indoors, preventing their spread. At the same time, it enriches the air with negative ions and antioxidants, according to Index.  It has been available on the market since 2016. The “Inventions vs. Corona” competition was organized by the International Federation of Associations of Inventors and Inventions (IFIA), the umbrella…

ZAGREB, July 13, 2020 - Total deposits with commercial banks in Croatia reached HRK 315.1 billion at the end of May, increasing both months on month and year on year, figures from the Croatian National Bank (HNB) show. Deposits, including demand deposits, savings, and time deposits, rose by HRK 3.8 billion or 1.2% compared with April 2020 and by HRK 27.3 billion or 9.5% compared with May 2019, continuing the positive trend since the end of 2011. The annual increase was the result of the continued rise of demand deposits, which include money in transaction accounts and banks' obligations arising from kuna…

Gaming in Croatia didn't take long to become a hit, and as Poslovni Dnevnik writes on the 12th of July, 2020, the success of just one startup in the gaming industry could pay off in terms of what has been invested so far in the project of turning Novska into a regional centre for video game development. As Vecernji list reports, the aforementioned industry is one that is worth an eye-watering amount of money and just one single hit game has the ability to bring in hundreds of millions of kuna, they say from the PISMO business incubator, which is…