Category: Business

Croatia Receive €300 Million Loan to Finance Priority Projects

euroThe European Investment Bank (EIB) has approved a loan of 300 million euros, out of a total planned loan of 600 million euros, on Monday which will be used to help finance priority projects in Croatia…

Energy, transport, health, infrastructure, urban regeneration and water and waste management projects are some of the areas flagged as ‘priority’ and the EIB loan will be used to co-finance those with EU funds.

“The EIB loan will co-finance priority projects worth an estimated 8.1 billion euros, which will help improve the quality of life for Croatian citizens. The funds will facilitate the absorption of EU grants and will benefit the Croatian economy in terms of accelerating economic growth, strengthening competitiveness and increasing job creation,” Dario Scannapieco from the EIB said on Monday.

The EIB have financed projects worth around 4.5 billion euros since they started to be active in Croatia in 2001.

2015 Forbes Croatia Rich List

PanoramaRetail tycoon Ivica Todorić is once again on top of Croatia’s Rich List. The Croatian edition of Forbes magazine has just released its Rich List for 2015. The magazine ranks the 100 wealthiest Croats….

This year’s list revealed that Todorić’s net worth increased by 7.6% in the last year, whilst Croatia now has 3 billionaires (in the Croatian kuna) and 101 multimillionaires. The capital Zagreb is home to the most number of millionaires.

Forbes Rich List – Croatia – Top 3

1. Ivica Todorić – worth: 3.37 billion kuna (430 million EUR) – is the richest Croat again in the land thanks to his Agrokor firm which owns Croatia’s largest supermarket chain Konzum and food brands Belje, Jamnica, Ledo, Jana, PIK and Zvijezda. His net worth does not include Konzum so it is considered to be a lot more.

Ivica Todorić

Ivica Todorić

2. Lukšić family – worth 2.14 billion kuna ( 270 million EUR) – the mining, brewing and banking business family own the Plava Laguna resort, Istraturist Umag and the Adriatic luxury hotels in Croatia.

Davor Lukšić

Davor Lukšić

3. Emil Tedeschi – 1.5 billion kuna (200 million EUR) – major owner of food and nutrition company Atlantic grupa.

Emil Tedeschi

Emil Tedeschi

The Economist Organising Conference in Croatia

tcFor the first time popular UK-based business magazine The Economist is to organise a conference in Croatia…

In cooperation with the Croatian Ministry of Foreign Affairs and the Croatian Chamber of Commerce, The Economist will host the ‘Can political, economic & business integration be the catalyst for growth?’ conference at Hotel Le Meridien Lav in the Dalmatian city of Split on 27 March.

Together with the Prime Minister of Croatia Zoran Milanović and Minster of Foreign Affairs Vesna Pusić, a number of top ministerial officials and institute heads will discuss trade, competition and integration, as well as ways Croatia can strengthen the economy and attract investment partners from the European Union.

18-Year-Old Launches First Croatian Internet Social Network

irAn 18-year-old from Šibenik on Croatia’s Dalmatian coast has launched what is the first local social network on the internet…

Ivan Rakić recently launched Croatia’s first social network IVRA, an alternative he says for people who are moving away from popular networks such as Facebook and Twitter. In just a few weeks since launching Ivan’s IVRA has more than 2,000 users. The Technical-Transport student says that IVRA provides users with stronger security and privacy than Facebook and Twitter.

“I wanted to create something new, something local, Croatian, and I came up with the idea to develop the first Croatian social network. I am happy with how it has started. I will be satisfied when we get over 15,000 users in a month,” Rakić said.

Ivan Rakić

Ivan Rakić

Rakić decided to launch IVRA after wanting his schoolmates to be able to meet on one intimate network, where there were no fake profiles and users. Registration to IVRA is very simple and similar to most other social networks, with users having to provide evidence that the application is legitimate. Rakić says user numbers have increased after it was featured in local media.

“I am one of the first users of IVRA. IVRA is very well organised and simple to use. I like that there are advertisements which Facebook has,” one user said.

Whilst Ivan has ambitious plans and hopes IVRA grows into a popular social network site, his only concern now is passing his next exam. (photo / ŠibenikIN/screenshot)

After a Few False Starts Air Croatia to Launch Next Week

aircroatiaAfter a number of false starts, low-cost startup Air Croatia are set to take off finally next week…

Air Croatia, who postponed its intended launch twice last year, will from 2 April introduce four new services between Zagreb and Rome, Milan, Prague and Budapest. Tickets on Air Croatia flights to those destinations have started to be promoted on group booking websites this week. Air Croatia will operate the flights in cooperation with Dutch air company Denim Air.

“Denim Air has been given slots for all of these airports, including Zagreb, and there is no question of the cancellation or delay of these flights again, either in April, or in the future,” Air Croatia’s Mehmet Akif Borucu told Poslovni dnevnik,” before making it clear that Air Croatia was not an airline, nor a Croatian company.

“Air Croatia is a sales company and consolidator that sells tickets on flights directly to customers, as well as organising and selling packages to Croatia. The headquarters are in the UK and the flights are operated by Dutch airline Denim Air,” said Borucu.

To check out services and schedules you can visit Air Croatia’s website here.

Google Advertising Up 10% in Croatia – What Were the Top 10 Most Searched Words?

Google1Internet marketing in Croatia is on the rise. Google’s revenue from internet marketing services in Croatia has risen 10% in the last year…

As well as internet marketing revenue soaring in 2014, online purchases in Croatia are also up. Last year online sales made up 12% of sales, up from 9% the previous year. In 2014 Google’s total revenues were 66 billion USD, of which 59.065 billion were made up from advertisements. In Croatia Google made most of their money through internet marketing through adverts on YouTube, email, forums, blogs and other websites.

Excluding brands and well-known portals, the top ten words most searched in Croatia in the past year were; energy certificate, booking admin, car tires, air tickets, web design, legalization, loans, loan calculator, last-minute and proteins. The most searched events in Croatia on Google last year were the FIFA World Cup, Easter, Oscars, Museum Night, Eurovision Song Contest, Wimbledon, Spancirfest, The Winter Olympics in Sochi, Rujanfest and Interliber.

Government to Launch ‘Let’s Get EU Funds Together’ Campaign to Help Boost Economy

Croatia_EU_flags1From 2007-2013 1.45 billion euros in EU funds were available to Croatia, but it only managed to access 45% of those. A new campaign launched by the Croatian government this week hopes that it will help drastically improve that over the next period of funding…

With more than 10 billion euros available for Croatia’s to access from European Union structural and investment funds from 2014-2020, the government has launched the ‘Let’s Get EU Funds Together’. In March and April Ministries will promote how to access and use EU funds in a series of presentations starting in Zagreb on Tuesday.

Apart from Zagreb, the government will present in Osijek, Rijeka, Split, and Varaždin, helping small and medium businesses target and obtain important EU funds which can help play a part in kick-starting Croatia’s economy. Areas which the government are expected to focus on include rural development and agriculture, cultural heritage and social infrastructure and employment.

[PHOTOS] Continental Croatia’s Latest Tourism Offering Opens – A €21 Million Water Centre

BackGround6Head of the town council of Krapinske Toplice, Ernest Svažić, was the first visitor to the brand new 21 million euro thermal water centre when it opened its doors to the public on Saturday…

Situated in the northern Croatian village of Krapinske Toplice, Aquae Vivae is one of the largest water centres in continental Croatia. Spanning over an area of more 18,000 square metres on two levels, the centre features six large pools, including a wave, relaxation, children’s and a 4.5 metre deep dive pool, the only one of its kind in Croatia, slides, Finnish and Turkish saunas, thermal pools with temperatures from 28-38 degrees, an ice room and a number of other attractions for the family. A great addition to Continental Croatia’s tourist offerings.

Head of Krapinske Toplice council Ernest Svažić is the first customer

Head of Krapinske Toplice council Ernest Svažić is the first customer


(photos / aquae vivae)

Croatia Selects Representative for Ernst & Young World Entrepreneur of the Year Awards for the First Time

eyThe Ernst & Young Entrepreneur of the Year Awards, considered the world’s most prestigious business award and held in more than 140 cities and in more than 50 countries worldwide, have been held for the first time in Croatia last night…

The award for the Most Successful Entrepreneur and EY Entrepreneur went to Alan Sumina and Zoran Vučinić from the firm Nanobit. Nanobit specialised in developing and delivering mobile applications and games, including calorie tracker app Tap and Track which had success in the US. In the last 3 years Nanobit have taken their annual revenue from 90,000 euros to close to 2 million euros.

NanobitIn the Technical Innovation category the award went to Mate Rimac from Rimac automobili, the creators of the world’s first electric super car. Alojzije Šestan from military equipment manufacturer Šestan-Busch received the award for International Achievement.

As country winners, Sumina and Vučinić will represent Croatia in Monte Carlo, Monaco, for the annual EY World Entrepreneur of the Year Awards.

“It its important that we are moving forward, when an entrepreneur has an idea it is important that they move forward with it,” said Minister of Entrepreneurship Gordan Maras at last night’s awards. (Image source:

Croatia Awarded €1.3 Million for Free Fruit & Vegetables in Schools Scheme

fruitCroatia has been awarded 1.3 million euros for its free fruit and vegetables for school children programme, the European Commission announced yesterday…

The European Union has allocated 150 million euros to 25 countries to implement free fruit and vegetable schemes in the 2015/2016 school year, with Croatia receiving 1,360,845 euros. Over 200,000 kids from close to 900 primary schools in Croatia will be eating fruit and vegetables free for lunch in the next school year as part of the programme. EU funds will cover 90% of the programme with the remaining 10% financed by the Croatian government or private firms.

The aim of the School Fruit and Vegetables Scheme is to prevent and reduce childhood obesity by making sure fresh and seasonal fruit and vegetables in available in the daily nutrition of school children. The programme involves children from the 1st to the 8th grade of primary schools in Croatia. (image /