Category: Business

INA No Longer Trading on London Stock Exchange

ina1A lack of interest in share trading in Croatian oil and gas company INA has seen its cancellation on the London Stock Exchange…

INA, whose biggest shareholders are the Hungarian MOL Group and the Croatian Government, said in a statement that trading in the stock on the LSE was cancelled on Tuesday after the company’s management decided last year that they would cancel the Standard Listing of INA’s Global Depositary Receipt (GDR) on the Official List maintained by the UK Listing Authority due to the fact the outstanding GDRs had decreased to just 181 from 450,000.

INA’s Global Depositary Receipts were first listed on the London Stock Exchange close to a decade ago in 2006.

Wheat Crops Down 29% This Year in Croatia

CroatiaThis year’s wheat crop in Croatia has been estimated at 710,000 tonnes, which is 29% less than last year’s crop, according to the Central Bureau of Statistics (CBS) early estimates of yields of important crops in 2014…

Besides wheat, early estimates show that grain, oats and barley crops have also decreased, whilst rapeseed crops were up. Initial statistical data confirms the decline in the yield of grain this year, caused largely by adverse weather conditions and disease. After a mild winter, in March rust disease appeared on wheat crops, and the farmers’ associations warned then that yields of wheat warned that crops could be effected as some producers did not carry out the necessary spraying or they do only sprayed once.

According to CBS data, wheat was sown on 165,000 hectares, and the expected yield is 4.3 tonnes per hectare, or 710 thousand tonnes, 29% less than last year. Barley was sown on an area of ​​50,000 hectares, and it is estimated that the yield per hectare will be 3.4 tonnes, or 170 thousand tonnes, which is 16% less than last year. It is estimated that the yield of oats has decreased by 5% to 57,000 tonnes, whilst rapeseed crops was up 5%.

First Ever Fuckup Night to be Held in Zagreb – Guests to Talk Business Failings

CroatiaImpact Hub Zagreb is bringing to you the very first Fuckup Nights in the Balkans taking place on September 11th at 7.30pm…

Fuckup Nights is a global movement that aims to accelerate the learning process while reaching people closer to actual cases of business failure. Since its inception in Mexico City, in each FuckUp Night three entrepreneurs present their failures using 10 images and 7 minutes. Since September 2012, hundreds of fuckupreneurs have told their stories of failure to thousands of attendees in more than 10 countries.
It is all made possible thanks to their fellow fuckupers from Mexico City, Mumbai, San Sebastian, Medellin, San Francisco, Paris, Melbourne, Stockholm, Culiacán, Monterrey, Tijuana, Guadalajara, Oaxaca, and many more.

About the speakers

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Ivan Ivanković, in his role as a consultant, worked on the development of mobile multimedia for international telecoms. Currently he works on the development of non telco- jobs for the Croatian company HT. At the same time he was working on his own startup, which is called Squee with his friends for which they received an investment from the Eleven Fund in Bulgaria.

His experiences with Squee is what Ivan will be talking about at Fuckup Nights in Zagreb.

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Alex Harašić
, – A Chilean Business Manager with Croatian roots with over 8 years of experience developing and managing tech operations and businesses in the Banking industry, Consumer Packaged Goods, E-Commerce, and Mobile development. Shifted to the other side of the table two years ago to join a Venture Capital firm and later to manage a Startup Accelerator in Chile, helping local entrepreneurs build great products and businesses.

He will talk about: Bazarus.com, like Etsy.com for Chilean designers that went down the drain.

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Miroslav Wranka, Born in 1972. in Osijek, then Yugoslavia, now Croatia. Started working as a journalist in 1989., hasn’t stopped since. Freelancer since 2007., covering ICT and economic issuses. Likes to create and play games.

Miroslav will be sharing his experience with the newsletter viapositiva and why it no longer exists.

To join them and celebrate failure at the very first Fuckup Nights Zagreb you can get your ticket here.

Croatia Banks €65 Million a Year For Use of its Airspace

CroatiaCroatia earnt over 65 million euros from flights passing through its airspace, and from take offs last year alone…

Croatia’s location, which puts it at the crossroads of important European corridors, means that more than 2,000 flights a day are flying above the nation’s sky in summer, keeping Croatian air traffic controllers busy. Half a million flights passed through Croatia’s airspace last year, and it seems things are getting busier, this July there was a 5% increase in overflights from the same period last year.
Airspace charges depend on the weight of the aircraft and the length of the flight, so for example for flying from Zagreb to Dubrovnik the state earns 600 euros.

“This cake is growing every year, the global political situation may change these corridors,” Deputy Transport Minister Dan Simonić told RTL.

Who are the Highest Paid Public Sector Workers in Croatia?

CroatiaThe highest paid public sector worker in Croatia is a doctor in the capital Zagreb who has a gross salary of 67,000 kuna (8,800 euros) a month, revealed the country’s central payroll…

Doctors dominate the list, with 86 of them among the top 100 paid public sector workers in Croatia. Whilst doctors were hands down the top paid public sector profession, many say that the salary is pumped up as many are forced into working a lot of hours due to a lack of staff. The list also featured 5 judges, with the highest getting paid up to 40,000 kuna (5,240 euros) gross a month. There were also two employees of an agency that is responsible for the use of official aircrafts on the list, whatever that may entail.

Politicians and parliament figures were low down on the list, with the president of parliament in 45th spot, and the Prime Minister 94th.

Croatia to Receive 8.6 Million Euros in Natural Disaster Relief from EU

CroatiaCroatia will receive 8.6 million euros in aid from the EU for ice storms that effected the nation back in February…

EU Commissioner for Regional Policy, Johannes Hahn announced today that Croatia would receive aid as part of a 47 million euro package for nations that were hit by natural disasters at the end of 2013 and the start of this year. Italy, Greece and Slovenia will also granted aid to reimburse rescue costs during the disaster.

“These amounts are specific and targeted to help address the immediate and direct impact of natural disasters,” Hahn said.

Biggest Business Transaction in Croatian Tourism History

Croatia1The wealthy Chilean-Croatian Lukšić family have just purchased Istraturist Umag, which operates hotels, apartments and villas in Croatia, from Zagrebačka banka for 120.1 million euros, making it the largest tourism business deal in the country’s history, the Zagreb Stock Exchange reported on Tuesday…

Lukšić’s Plava Laguna company, based in Poreč, have now become 93.04% share holders in the Umag company. The purchase puts the Lukšić’s on top of the throne in the tourism sector in the country, with 45,000 beds (in accommodations), overtaking the Austrian-owned Valamar hotels which have 42,000 beds.

Plava Laguna's Davor Lukšić

Plava Laguna’s Davor Lukšić

“This deal represents a key event in the history of our group in Croatia. Twenty years after our first investment, we have confirmed a commitment to long-term investment in Croatian tourism,” said Plava Laguna’s Davor Lukšić, who described the negotiations, which have been ongoing for more than 8 months, as ‘challenging’.

The Lukšić’s will add 16 hotels, villas and apartments to their current portfolio with the purchase of Istraturist. The Lukšić family, who settled in Chile, have mining, brewing and banking interests around the world. Luksic’s Croatian operation is run by Davor Lukšić, the 30-year-old grandson of the Lukšić empire creator Andronico Lukšić.

Popular Polish Fashion House to Open 17 Stores in Croatia

ReservedPoland’s leading fashion house LPP, whose brands include Reserved, CroppTown, Reserved Kids, House, MOHITO and Sinsay, are set to expand onto the Croatian market…

The Gdansk-based company, which has more than 1,300 stores in Poland and abroad and turned over more than 1 billion euros last year, will open its first store in Croatia at Zagreb’s Arena mall. The 4,000m2 shop will offer five of LPP’s brands, and according to the company’s Croatian representative Ana Babić, LPP have big plans in the country.

“LPP for the last few years have expanded onto new markets, a new store has opened in Germany, and LPP is moving onto the Qatar market also, where we can only operate via a franchise model,” Babić told daily Jutarnji list.

LPP expects to open 17 stores in Croatia, employing around 300 people in the process by the end of next year. They also plan to open 15 stores in Serbia and by the end of 2017 have 15 stores in Slovenia and 9 in Bosnia and Herzegovina.

Twitter Advertising Now Available in Croatia

CroatiaAs of today Croatian companies can now advertise on popular social network Twitter…

Twitter announced on Tuesday that Twitter Ads has expanded on to 12 new markets, including Croatia.

“Today, we’re excited to announce the expansion of Twitter Ads to 12 additional markets in Central and Eastern Europe, and in Portugal. Our new markets include: Austria, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Macedonia, Romania, Serbia, Slovenia, Switzerland, Ukraine and Portugal”, said Twitter, which has over 270 million users worldwide.

Croatian businesses can now access Twitter’s marketing products such as promoted video adverts and promotional mobile applications.

“There has been tremendous growth in this region over the last year, and Twitter Ads will now be available in 35 EMEA (Europe, Middle East and Africa) markets through direct sales support teams and reseller partnerships. We’ve heard positive feedback from brands around the world about how our recent product developments have helped accomplish goals like driving engagement or direct-response actions like website traffic, video views, leads and sales,”.

Rab Island Likely to be Home to Croatia’s 10th Airport

Croatia1Authorities in Croatia are set to give the green light next month for the construction of the nations 10th commercial airport…

The honour of becoming the 10th commercial airport looks like it will go to the northern island of Rab. Years of research, feasibility and environmental impact studies which have cost close to 1 million euros, have resulted in authorities likely to approve the island as the home of a 1,700 metre-long runway airport which will handle commercial (150 seaters) and cargo flights. The airport, which estimates will handle around 200,000 passengers a year, will also see a pilots training facility built also on site.

The official sign-off is set to be done in September, reports Ex-Yu Aviation News, with the project costing around 60 million euros.