Business

With revenues up significantly after a rather negative business year in 2018, the third quarter was particularly successful for the Crikvenica-based company Jadran. In an explanation, Jadran's CEO Goran Fabris points out that this is largely the result of a new investment cycle. As Poslovni Dnevnik/Suzana Varosanec writes on the 6th of November, 2019, the hotel company Jadran from Crikvenica unfortunately experienced a negative business last year (publishing significant losses 13.9 million kuna), but in the first nine months of 2019, it recorded a turnaround: with 22 percent higher revenues compared to the comparable period, and it generated 22 million…

Croatian entrepreneurs are taking the limelight once again with their ideas, innovation and good business sense, but this time, the recognition comes from outside of Croatia. As Poslovni Dnevnik/Marta Duic writes on the 7th of November, 2019, a startup has designed a tool for digital documentation and communication in the building industry, and one of the people at the top is a Croat. PlanRadar, which has developed a digital documentation and communication tool in the construction and real estate markets, was awarded the EY Entrepreneur of the Year Award in Austria in the Startup category. An expert jury awarded PlanRadar…

ZAGREB, November 6, 2019 - Croatian National Bank governor Boris Vujčić said on Wednesday a recession was not expected in the next two years, only a relatively mild slowing of GDP growth, both in the euro area and Croatia. He was responding to questions from the press in Opatija on the fringes of a conference on Croatia's 2020 economic policy. Vujčić said that did not mean a recession was ruled out. As we know, economists are not very good in predicting recessions and so far, there has not been much success in forecasting when one would happen, he added. The…

November 6, 2019 - Cohres junior analyst Kristina Boras talks linking tourism and technology in Croatia. Croatia is a small country that has shined on the world stage for many reasons, one reason largely being tourism, but another being the innovative technological advancements. By linking its established tourism sector with the advancing technological sector, Croatia can make sustainable improvements and capture new opportunities. There is an ongoing discussion about whether or not Croatia’s tourism sector is sustainable and what improvements can be made to maintain the success and growth of the sector. One of the main issues regarding Croatia’s successful…

November 6, 2019 - Today, XD Xenia Design products are sold in about thirty countries. Along with Ksenija Vrbanic, this year's best female entrepreneur laureates are Blaženka Mičević, Ariana Vela and Kata Barišić. Designer Ksenija Vrbanic, the founder of XD Xenia Design, was named this year's best female entrepreneur in Croatia. She was presented with the Most Inspiring Female Entrepreneur of the Year award at the fifth Best Female Entrepreneurs in Croatia award ceremony organized by Women in Adria, a network gathering female entrepreneurs and businesswomen. Although clothing production is an industry that has almost disappeared in Croatia in recent…

ZAGREB, November 6, 2019 - The openness of the Chinese market to imports is an opportunity which Croatia must take better advantage of, and Chinese companies are expected to increase their investment in Croatia, a Croatia-China business forum was told in Shanghai. The forum, organised by the Croatian Chamber of Commerce (HGK), was held on the margins of the 2nd China International Import Expo. It involved 12 Croatian and 30 Chinese companies and was attended, among others by, Croatian Parliament Speaker Gordan Jandroković, Economy Minister Darko Horvat, Agriculture Minister Marija Vučković and HGK President Luka Burilović, the HGK said in…

ZAGREB, November 6, 2019 - During a debate in parliament on Wednesday about amendments to this year's budget, Finance Minister Zdravko Marić boasted about responsible management of state finances while the opposition had a different view. "Croatia has a balanced budget. For four years in a row we have not crossed the originally defined limit. We are acting in line with our financial capacity," Marić said presenting the amendments to the most important financial document for the state. The amendments foresee an increase in revenues of 1.6 billion kuna or 1.2% to 137.7 billion kuna while overall expenditure is being…

As Poslovni Dnevnik/Marija Brnic writes on the 5th of November, 2019, the opening ceremony of the Chinese International Import Fair, which is being held for the second time in Shanghai in order to increase imports and reduce trade surplus, has featured four companies from Croatia, with a total of twelve more Croatian businessmen attending the Croatian-Chinese Business Forum. The forum has been organised by the Croatian Chamber of Commerce (HGK), and in addition to presenting Croatia's economic and investment potential, more than thirty Chinese companies have expressed interest in concrete business talks with Croatian entrepreneurs. Among the companies whose representatives have…

ZAGREB, November 5, 2019 - Croatia's public debt reached HRK 297.1 billion at the end of July 2019, up by 11 billion kuna or 3.8% from the end of 2018, and the increase was due to the issue of a €1.5 billion euro bond in June to secure funds for the repayment of a bond maturing in November, data from the Croatian National Bank shows. In addition, the slight strengthening of the domestic currency, the kuna, against the euro affected the nominal expression of the debt in the kuna given that about 65% of general government obligations are in the…

One of the largest Croatian strategic infrastructure projects, the construction of the state road 403 between the Škurinje junction and the Port of Rijeka, which is co-financed by the European Union with 85 percent of its funding, has been stopped, yet again. As Novac/Kresimir Zabec writes on the 4th of November, 2019, according to what is currently unofficial information, the Jurcon Projekt company from Zagreb has filed an appeal for the tender for the construction of this (otherwise most expensive Croatian road) and thus stopped the implementation of the project until further notice. It is a 2997 meter long road…