Business

ZAGREB, January 26, 2019 - The average monthly net pay in legal entities in Croatia in November was 6,267 kuna (approx. 847 euro), rising 1.2% in nominal terms on the year, but dropping by 0.1% in real terms, show the latest figures published by the national statistical office (DZS). The Croatian Chamber of Commerce notes that this was the first time since the beginning of 2016 that an average monthly salary declined in real terms. Although the monthly salary in November rose year on year in nominal terms, when the yearly inflation rate of 1.3% is applied, it fell by…

ZAGREB, January 25 (Hina) - The Uljanik Group Board chair, Emil Bulić, said on Friday afternoon that a total of six companies visited the group's data room which was opened for due diligence until 24 January, and a deadline for their prospective bids expires on Friday evening. Upon the expiry of the deadline for submission of bids for a strategic partnership on 8pm it will be known which of the interested companies have offered their bids, Bulić said. He said that based on the current developments and bids received, he did not want to give any false hope. Let us…

ZAGREB, January 25, 2019 - Prime Minister Andrej Plenković said on Friday he had no information that Russia's Sberbank planned to sell its stake in Croatia's Agrokor conglomerate in the first half of this year. Sberbank vice president Alexander Vedyakhin said yesterday, according to Russian news agencies, that the bank planned to sell its stake in Agrokor in the first half of 2019 and that negotiations with interested buyers were under way. Sberbank is Agrokor's biggest creditor and, under last year's settlement, its biggest shareholder with a 39.2% interest. "There's no long-term logic in someone whose business is banking co-owning…

ZAGREB, January 25, 2019 - Finance Minister Zdravko Marić said on Friday the only reason for introducing the possibility of blocking websites was the unfair competition of foreign online betting sites which pay no taxes on their services. Unlike domestic online betting sites, international ones pay neither a business fee nor profit tax given that they are not registered in Croatia, and players, i.e. citizens, do not pay taxes on their winnings, Marić said at a conference on the impact of the tax policy on innovation and development. That's why, in the rules on the implementation of the General Tax…

The committee on the internal market and consumer protection of the European Parliament has adopted a law prohibiting sales of apparently same products of different quality in the European Union. This was announced at a press conference by Croatian Member of European Parliament Biljana Borzan. The measure will help protect Croatian consumers, reports Večernji List on January 25, 2019. “The official position of the European Parliament is that the different product quality in the east and west of the EU must be banned. This is the position to which we have arrived after years of persuasion and explaining! I am…

ZAGREB, January 25, 2019 - Croatian agricultural and food exports continued to grow last year, but at a lower rate than in previous years, the Croatian Chamber of Commerce (HGK) said in a statement on Friday. In the first ten months of 2018, compared with the same period of 2017, agricultural and food exports increased by 5% to 1.64 billion euro, while imports rose by 4% to 2.55 billion euro. Coverage of imports by exports increased from 63% to 64%. In 2017, agricultural and food exports rose by 7.5% from 2016, when they had increased by nearly 13% from the…

The Days of jobs in tourism events across three Croatian cities, both in continental Croatia and on the coast, are set to offer new employment opportunities for many seeking to enter into the world of tourism, which is by far Croatia's greatest economic asset. While jobs in Croatia might appear to be few and far between for many of those seeking opportunities elsewhere across the territory of the European Union, tourism remains by far the strongest sector in Croatia, with numerous positions available up and down the coast, and doors opening even in the previously overlooked continental part of Croatia…

ZAGREB, January 25, 2019 - On the first day of the World Economic Forum meeting in the Swiss ski resort of Davos, Croatian Prime Minister Andrej Plenković had a number of meetings with executives of global companies operating or interested in operating in Croatia. Among them were the CEOs of DAMAC Group, Hoffmann-La Roche, Antofagasta Minerals and Marriott International, the vice-president of Coca-Cola, Google's president for Europe, the Middle East and Africa, and the vice-president of Mastercard. "At a forum like this, many global companies seek contact with leaders to see how they can help their companies to establish a…

As Poslovni Dnevnik writes on the 24th of January, 2019, at this stage, the Croatian production company Dilj d.o.o. is set to invest significant resources in the overhaul of the plant, and the plan is to put additional resources in the next phase to raise and expand the capacity of their brick factory. This Vinkovci-based Croatian production company is a manufacturer of brick, tile, grout and special roof elements, which exports 70 percent of its production to both European and non-European markets. Dilj d.o.o. rescued a small brick factory from Našice, which was in the process of going into liquidation.…

ZAGREB, January 24, 2019 - The government on Wednesday launched changes to the Nomenclature of Territorial Units for Statistics (NUTS 2), dividing Croatia into four statistical non-administrative units which will improve regional aid allocation and ensure better terms for the absorption of European Union cohesion funds. Another goal is forming as homogeneous regions as possible in terms of development, and the new division will also redress the injustice done in 2012, when less developed parts of the country, notably Slavonia and Baranja, were obstructed in attracting EU funds, said Regional Development and EU Funds Minister Gabrijela Žalac. The government's decision,…