Business

June the 10th, 2022 - New Croatian oil reserves have been discovered, and exploitation is set to begin shortly. As the country attempts to gain energy independence, this is no small piece of news. As Poslovni Dnevnik writes, Marijan Krpan, President of the Management Board of the Hydrocarbons Agency, spoke about the situation on the oil market (which includes its derivatives) for HTV. He said that there had been no disturbances in the fuel supply, and enumerated the discoveries of new Croatian oil reserves. He also touched on distributor reactions: "People's reactions are in regard to high prices, we can talk…

ZAGREB, 9 June 2022 - The Austrian hotel and tourism group Falkensteiner (FMTG) plans to invest around €300 million in Croatia in the next five years in destinations it already operates in, Zadar and Punat on the island of Krk, the group's co-owner and executive director, Otmar Michaeler, told reporters on Thursday. The meeting with the press was organized on the occasion of the group's 65th anniversary and Michaeler underscored that Croatia, where they have been operating in tourism since the early 2000s, is one of the most important countries for their growth out of a total of seven countries in which…

ZAGREB, 7 June 2022 - The Online Vacancy Index (OVI) has been rising for 15 consecutive months -- in May 2022, labor demand was 43% higher than in May 2021 and 25% higher than in May 2019, so labor demand has significantly gone up compared with the pre-pandemic period, the Zagreb Institute of Economics (EIZ) said on Tuesday. The seasonally adjusted index for May, the EIZ said, indicates a 7% increase compared with the seasonally adjusted index in April this year. According to EIZ analysts, like last month, these positive trends are also the result of preparations for the coming…

June the 7th, 2022 - Have Croatian taxi drivers started raising their prices as the height of the summer tourist season approaches? Many claim to have done so, as ongoing inflation would make it difficult for them to keep going otherwise. As Poslovni Dnevnik writes, the continuing wave of inflation has also affected taxi carriers and Croatian taxi drivers. Rising fuel prices, which account for the largest share of taxi drivers' costs, have led to higher prices for transport services in general. This immediately led to a drop in demand, but Croatian taxi drivers are pinning their hopes on tourists as…

ZAGREB, 5 June 2022 - Enterprises based in the City of Zagreb netted HRK 23.6 billion in profit in 2021, accounting for 52.7% of the profit of all enterprises in Croatia, according to Financial Agency (FINA) data. Enterprises based in the City of Zagreb, which also has county status, are first according to all criteria, except business efficiency. A third of all enterprises in Croatia headquartered in Zagreb The capital city has 47,956 enterprises, a national share of 33.2%, employing 370,800 workers (38.4%), and their revenue totals HRK 433.2 billion, or 48.9% of the revenue generated by all Croatian enterprises. In 2021, enterprises in the…

ZAGREB, 5 June 2022 - In the first quarter of 2022, banks in Croatia recorded a total profit of HRK 1.57 billion, up 46% on the year, the central bank said earlier this week. The profit improved the indicators of banks' profitability in relation to the end of 2021, with the return on assets increasing from 1.2 to 1.25% at the end of March and the return on equity from 8.8 to 9.5%. All 23 banks operated at a profit. The highest profit was generated by Zagrebačka Banka (HRK 618 million), followed by Erste (HRK 279.4m) and Privredna Banka Zagreb (HRK 227.5m).…

June the 5th, 2022 - The well known Croatian Valamar company has purchased yet another Austrian hotel in a popular ski resort, as it eyes further expansion and the offer of permanent work contracts for its employees. As Poslovni Dnevnik/Marija Crnjak writes, the Croatian Valamar company is continuing to expand its portfolio in Obertauern, Austria, by acquiring the luxury Hotel Kesselspitze, which will thus become the third Valamar-run hotel in Obertauern and the first Valamar Collection hotel in Austria. The Hotel Kesselspitze has so far been owned by the Lürzer family, which is recognised as a leader in development and…

ZAGREB, 4 June 2022 - The planned changeover to the euro in 2023 obliges Croatia to amend a set of laws, including the legislation regulating the enforced collection of delinquent debts, the Jutarnji List (JL) daily reported on Saturday. Apart from changing all the laws that cite the kuna, some other laws will have to be amended, the daily newspaper says, adding that the change would further reinforce the protection of consumers against invalid contracts. Currently, apart from the Financial Agency (FINA), the Croatian Pension Insurance Fund (HZMO) and employers are also authorized to garnish pensions and wages respectively to withhold the earnings of an individual for…

June the 4th, 2022 - The Croatian company Atos has been chosen as the more favourable bidder for a new Croatian Health Insurance Institute (HZZO) project worth a lot of money. The company will spend nineteen months on the project. As Poslovni Dnevnik/Marija Crnjak writes, the Croatian Health Insurance Institute (HZZO) has announced the start of the brand new eHZZO project, worth almost 115 million kuna, which aims to establish more efficient management and supervision within the healthcare system. The construction of this brand new new system is being co-financed by the European Union (EU), and will enable easier communication…

ZAGREB, 3 June 2022 - Croatia has significant potential to harness wind but it is not using it sufficiently due to phlegmatic bureaucracy, WindEurope association executive director Giles Dickson said in Dubrovnik on Thursday. Dickson was one of the panelists at a two-day conference "Days of Good Wind",  organised in Dubrovnik by the Renewable Energy Sources Croatia (OIEH) association. Dickson said that Croatia was at the bottom of the ladder in the EU in terms of efficiency in issuing permits for wind parks. Under Croatian laws, investors must use the technology stated in the original application for a permit while most…