EU: Croatia No Longer Experiencing Excessive Imbalances

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Croatia, which was identified with excessive imbalances in 2018, is found to be experiencing imbalances now, according to the conclusions which the European Commission made in its European Semester Winter Package in which Brussels assesses member states’ progress on economic and social priorities.

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Move towards ERM Membership Likely in Second Quarter

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Croatian National Bank (HNB) Governor Boris Vujčić announced that a letter of intent for ERM membership (European Exchange Rate Mechanism II) was expected to be sent “some time in the second quarter of this year.”

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Croatian GDP Expected to Have Slowed in Q4

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Strong individual consumption and investments continue to support Croatian economic growth, but because of a decrease in industrial output and a slowdown in the export sector, analysts predict that the Croatian GDP growth rate slowed in the fourth quarter of 2018.

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Šibenik Launches Project to Revive Retail in Old City Center

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Ten European cities have united in the RetaiLink project to revive their historical core by strengthening retail sales. They include Fermo (Italy), Pecs (Hungary), Bistrita (Romania), Liberec (Czech Republic), Hengelo and Hoogeveen (Netherlands), Basingstoke and Deane (United Kingdom), and Croatia’s Šibenik.

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Valamar Riviera Agrees to Pay Substantial Bonus to Employees

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Valamar Riviera has signed an agreement with the Trade Union of Tourism and Services of Croatia and the Trade Union of Istria, Kvarner and Dalmatia, providing Valamar employees with new benefits, including the 13th salary in the net amount of 5,000 kuna. Valamar will pay the 13th salary to all permanent employees and all workers who will work for the company for at least ten months in 2019. The 13th salary will be paid by December 2019.

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Karl Lagerfeld, Chanel fashion designer, dies aged 85

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Superstar fashion designer Karl Lagerfeld has died aged 85 in Paris following a short illness.

The German designer, who was the creative director for Chanel and Fendi, was one of the industry’s most prolific figures and worked up until his death.

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Croatian Companies Exhibiting at Largest Defence Industry Show in Abu Dhabi

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Several Croatian companies are presenting their products at the IDEX defence industry exhibition in Abu Dhabi from February 17 to 21, said the Croatian Chamber of Commerce (HGK). The Croatian companies exhibiting at the world’s largest defence industry show are Šestan Busch, Galeb, Agencija Alan, DOK-ING, Odjeća and Čateks.

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We should maintain our individuality

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Growing older is inevitable, but we should make the most out of it, and look the best for our age. Prevention plays a big role in this and it is a good thing that an increasing number of patients come to us with the idea of making themselves feel better in their skin. I prefer minimally invasive treatments and natural appearance, says aesthetic medicine specialist, doctor Aleksandra Aničić Tošović.

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Cheaper Cross-Border Money Transfers for Croatian Citizens within EU

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The European Parliament  adopted new rules that reduce charges for cross-border money transfers in euro within the EU, eliminating discrimination against member states that are not in the eurozone, which means that fees will be reduced for Croatian consumers too.

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Croatia Airlines signed a new collective agreement

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Croatia Airlines and two representative trade unions signed a new collective agreement on Tuesday, the signatories reported.

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