Flower production Production in Croatia has shown serious decline as local producers cannot compete with import prices
Nenad Nizić, Owner and Director, Ecco ing Croatia needs to at least partially focus on luxury services with prices remaining stagnant
PlayKontrol Informacija has developed a technology solution enabling the following of media on radio and TV
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INFORMATION TECHNOLOGY PAGE 8 2008 2009 2010 2011
Croatian Business & Finance Weekly Established in 1953 Monday / 5th March / 2012 Year V / No 0189 www.privredni.hr
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ZLATNA KUNA 2012
Against painful cuts, for economically justified investment Every economically justified investment in the private sector should be realised, especially in power, energy water supply and drainage. New projects should be launched through private-public partnership, including hundreds of smaller projects Drago Živković n the year when it celebrates its 160th anniversary, the Croatian Chamber of Economy organised the Zlatna kuna award ceremony for the 19th time. The first ceremony took place in 1993, and since then the award has become one of the most distinguished recognitions of business success and quality. At the award ceremony, CCE President Nadan Vidošević reminded about the history of chamber associations and referred to the creation of political architecture of the world after the two World Wars as well as periods of economic prosperity and the crisis that followed thereafter. According to Vidošević, during the entire period, the main generator was the rudimentary aspect inside all of us, that is, human greed expressed as well-being. The material value of our gain has become the main measure of our mutual values.
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This also translates to companies, where profit becomes the principal value, and where nations are concerned, social products is the only criterion of success. All this has led to the present crisis, whose roots lie in the unsolved criterion for measuring the success of a nation, society or an individual, pointed out Vidošević. Partner, not a leader It is crucial for Croatia at this stage to define its national development strategy and consider what kind of country we really want. Vidošević believes a series of short-term measures should be implemented and he is against painful cuts. His opposition is based on numbers: every fourth Croat is retired; 2.5 million people receive income from the budget, directly or indirectly, and the processing industry has only 220,000 employees. The CCE President does hope we will manage to find our way, having
Winners of Zlatna kuna For life-achievement: Academician Vladimir Ibler Banks: Erste&Steiermärkische Bank Insurance companies: Euroherc osiguranje Small-sized companies (up to 49 employees): Šestan-Busch Medium-sized companies (up to 249 employees): Vivera Large companies (over 250 employees): Omco Croatia
enough sense to avoid being the region leader, but rather a partner. The first Vice-President of the Government and Minister of Economy, Radimir Čačić, pointed out that the foundation of the Government economic policy is economic growth and employment with sustainable public finances and protection of vulnerable social groups. According to his opinion, the biggest investment potential lies in energy and food production, Croatia’s main import sectors. Schools and prisons The state has the leading role in preparing projects and creating room for capital. The process of preparing energy related projects
lasts between 6 and 18 months. Today, unfortunately, not even 5% of the projects are in the process of completion. With the launch of big projects, worth up to €1 billion, this will be solved by the end of this year and later, highlighted Čačić. He stressed that every economically justified investment in the private sector should be realised, especially in power, energy, water supply and drainage. New projects launched through private-public partnership, including hundreds of smaller projects for schools, hospitals, prisons and army warehouses. This year, we must improve the results of public investment by at least 50%, and the goal is to achieve 100%, stated Čačić.
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Privredni vjesnik Year V No 0189
Josip Čulić, Director, Luxe Hotel, Split
Brighter future for boutique hotels If the situation improves, we will see higher investment and emerging of more hotels specifically designed to offer outstanding service levels nlike corporate type hotels managed by franchises, boutique hotels are specifically designed hotels offering personalised service. Specific design, whether traditional or contemporary, make the hotel unique in every detail. Luxe Hotel is specifically distinguished by its modern design, which is a current global trend, and there have been cases of Croatians who restored historical buildings, turning them into contemporary examples of traditional architecture. Furthermore, boutique hotels offer services completely suited to the habits of each individual visitor. For example, they can be served breakfast at any time they wish. These hotels offer various other services that the more classic type of hotels do not offer at all or do, but according to strict rules. Croatia has quality boutique hotels. For example, Riva on the island Hvar, Kazbek Dubrovnik, Vila Argentina, Pucić Palace and Hotel Bellevue in Dubrovnik. There are also hotels in Istria, along the coast and on islands, like Dimitri Lešić, Vestibul Palace, Monte Mulini, Valsabbion and Martinis Marchi. Unfortunately, Zagreb still lacks a boutique hotel. However, I hope that an entrepreneur will decide to invest in this type of accommodation and keep up with global trends. Boutique hotels may be categorised as three, four or five star hotels. It is my opinion that if the situation on the market improves, we will see higher investment
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( 30,000 tonnes
estimated weight of imported flowers year-on-y
FLOWER PRODUCTION
No roses for
Flower production in Croatia has shown a continuo for growing all kinds of flowers and decorative plant low import prices Andrea Šalinović ow prices and difficulties in product sales are the crucial problems of local growers of seedlings and decorative flowers. 208 companies are registered with total revenues of €27.9 million in 2010. Seasonal flower growing is most popular in Croatia, whilst cut flowers and room plants are mainly imported, with a few varieties of roses and gladioli produced locally. Flowers, trees, bulbs, tubers and other kinds of live and cut plants worth $44,334,250, (over 30,000 tonnes), were imported in 2011. On the other hand, a mere 856 tonnes, worth $1,866,721 were exported. Croatia exports roses and freshly cut roses, fir trees for Christmas, small quantities of carnations (600), as well as opengrown plants. Croatia mainly exports to Bosnia and Herzegovina, Montenegro and Serbia. Also, Croatian roses are exported to Italy and Holland and fir trees to Austria. According to data provided by the Croatian Chamber of Economy, large shopping chains such as Konzum, Bauhaus, Baumax, Kaufland, Lidl and MBM, Fragaria and Fiori Kaštela are amongst the largest Croatian importers.
L and more hotels that will be specifically designed and offer outstanding service. It is well understood what could be done to help the hotel sector stand on its feet. It is a known fact that hotels in Croatia are burdened with high taxes and contributions. Therefore, our sector is from the start overloaded whilst our competition is not, which is why the hotel sector is barely sustainable. Furthermore, our hotels do not have favourable credit facilities. Interest rates are too high which additionally complicates investment in the construction of new hotels. However, despite these burdens, I believe more investors will arrive and will decide to open precisely this kind of hotel. There are already several interesting projects in progress. In believe in the future of boutique hotels since visitors do not feel comfortable with a uniform approach of big hotels that would not be able to operate otherwise.
FOR PUBLISHER Nikola Baučić +385 1 4846661 uprava@privredni.hr
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EDITOR IN CHIEF Darko Buković +385 1 5600003 bukovic@privredni.hr
TRANSLATION Lučana Banek lucanab@gmail.com Mirjana Cibulka mirjana.cibulka@gmail.com
EXECUTIVE EDITORS Andrea Marić maric@privredni.hr Vesna Antonić antonic@privredni.hr
INTERNATIONAL OPERATIONS Ray Fletcher fletcher@privredni.hr
Outdated machinery Flower production in Croatia has seen a continuous decline, irrespective of its favourable climate for growing all kinds of flowers and decorative plants, as local producers are not able to compete with low import prices. Croatia imports mainly from Holland and Italy, from where most seedlings, bulbs, tubers and room flowers
originate. Most cut flowers are imported from Holland and African countries. There are a high level of imports also from France, Germany, Spain and Hungary. In addition to lower labour costs characteristic of African countries, lower import prices are also a consequence of a higher level of mechanised production. “Croatian farmers in this area currently use outdated machinery, consequently creating a need for a larger work force, as opposed to western countries having stateof-the art machinery, which has a significant impact on prices”, stated Ines Pohajda, Professional Consultant for Integrated and Ecological Farming at the Croatian
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( $1 8 million
value of Croatian flower exports (856 tonnes) in 2011
year
florists
us decline irrespective of favourable climate ts as local producers cannot compete with
Chamber for Agriculture. According to Ms Pohajda, the Croatian competitive advantage lies in the climate, which is favourable for growing seasonal flowers, which has gained momentum during the last decade. “The benefits of this area of agriculture are a short growing period, more commitment and consequently a faster possibility for yield. In addition, according to data, this area creates jobs mainly for young people”, she added. Local product branding Local products have been recognised by customers on open markets, which is mainly as a result of local product branding. Hence,
the Ludbreg region based florist association has protected its seal of authenticity “Ludbreg rozetlin”, standardising the product and guaranteeing quality and with
an identifiable geographical authenticity of the region with over 30 years of tradition in flower production. The rights holder is the Ludbreg based Association of Florists, the largest professional association in Croatia. It currently encompasses around 120 members whose annual production stands at 15,000 various kinds of flowers, mainly annual plants for balconies or flower beds, primarily pansies, pelargonium, surfinium, impatiens, chrysanthemum and primroses with a recent emphasis on the production and cultivation of roses. In addition, there is a tradition of producing marigolds (Tagetes) which is also considered a herbal remedy. Saša Jerković, President of the Association, and an agronomist, stated that low prices and product sales are the major issue. “Sales on open markets are plunging and face an on-going downturn, due to customers opting for large shopping centres which sell around 30% of products. In addition, there are problems with getting paid”, pointed out Jerković. Nevertheless, he added that the current operating method implies long-term profit for producers, as any rebate,
What is the Ludbreg rozetlin? Ludbreg rozetlin is a seal of authenticity, unique to Croatia and protected at the State Intellectual Property Office, guaranteeing the authenticity of producers at the Ludbreg-based Association of Florists. The Association aims to protect the tradition of flower production in the Ludbreg region, as well as the quality of flowers grown and sold on the Croatian market. Nevertheless, rozetlin is the term used in north-west Croatia denoting a hanging pelargonium. It is also one of the first varieties of flowers to be produced in the region and thus chosen as the name of the seal of authenticity.
which is covered by producers, is insignificant. According to him, the quality is indisputable, as the entire production is in compliance with EU regulations. Ample assistance “We are outliers in agricultural production, since we are not entitled to subsidies as other farmers and cattle breeders. We have lobbied the Ministry of Agriculture without major success. In 2008 we obtained convenient loans for the construction and equipping of glasshouses, whilst in 2010 Varaždin County provided us with 25% financial assistance for new glasshouses. We are expecting an increase in subsidies in the forthcoming years”, explained Jerković. The programme for the development of vegetable and flower farming 2008-2012 granted 4% interest loans on amounts ranging from €10,750 to €0.5 million for the purchase of land, the construction and equipping of glasshouses and plastic tunnels, the purchase of machinery, equipment and tools, as well as irrigation systems. According to Ines Pohajda, the level of assistance was insufficient. Nevertheless, she pointed out that such assistance is provided in many EU countries, since this area of agriculture is not food production. According to information obtained by Ms Pohajda, Croatian flower-growers have been granted more financial assistance than their counterparts in EU countries. “We expect the Ministry of Agriculture to implement measures for rural development to them, as it has with honey producers”, she added.
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Prriivvrreedni vj Privredni vjesnik Year No 0189 Yeeaarr V N Y o0
“Croatian certified healthy local food is unsatisfactory.” Nenad Nizić, owner/director Ecco ing
NENAD NIZIĆ, OWNER AND DIRECTOR, ECCO ING
Increase tourism revenue through improved services Croatia needs to at least partially focus on luxury services with prices remaining stagnant incentives, tax reduction and employment and investment.
Jozo Vrdoljak enad Nizić is a financial expert and has operated in several economic areas. He founded an accountancy practice, following the position of Financial Director in several large companies. In addition, he has been successful in several areas of the construction industry and is also the owner of a tourism agency, whilst his most prominent success has certainly been running the Hotel Vestibul Palace and Vila Dobrić. The former has been identified as the best small family hotel in Croatia and has become a member of the best known hotel grouping for small and luxury hotels - Small Luxury Hotels of the World, which encompasses over 450 hotels in 70 countries. In addition, it has been identified as amongst the best world hotels by many well-read world magazines. The underlying concept of all his projects is the fact that they are all revolutionary and unique.
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What is the main activity of the Heart & Soul Charitable Fund? The Fund assembles well-known people and its main activity is raising funds to assist the homeless in New York State. This was the second time that I participated at the event. I donated five double overnight stays at the Hotel Vestibul Palace, yet I did not imagine that such an event could gather so many well-known people. Our hotel was amongst 15 European donor hotels. How much interest was created by Croatia and your hotel? Croatia has been recognised in New York as one of the most attractive tourism countries and there certainly is huge interest in Croatia. I was surprised by the popularity of the Croatian bottled water Jana, which is hugely popular amongst New York consumers. Kraš products are sold in several stores, as well as Cedevita. According to Andrea Cvitković, Director of the Croatian National Tourist Board office, Ameri-
cans are likely to feed into the Croatian tourism boom, which is not a surprise for me. On what does Croatia need to focus? Croatia needs to focus on the enhancement of her tourism proposals, particularly regarding healthy certified food for which there is ample demand amongst affluent tourists. Croatia is able to provide this, yet it needs to focus on its organisation. Italian regions have been investing greatly in promotion and they are currently able to provide a whole range of healthy local products. Croatia needs large-scale improvement in that aspect. As a hotel manager, I wish there was a company providing my visitors with a wide product range rather than having to deal with everything myself and do it partially, providing lower quality services than could a specialised company. Similarly, to engender Croatian competitiveness, we need more state support and assistance, primarily regarding
What do you expect from the new tourism minister? I support his intention to shift the focus of regional tourist boards towards destination management. In addition, I believe in the requirement for strict control of promotional schemes. There is no room for lethargy in tourism during the off-peak season. Increasing revenue from tourism is an imperative and, in my opinion, is achievable. Consequently, we need to considerably up-rate the quality of our services and create space to raise prices. The fact that my 12 room hotel is able to generate an income of €0.5 million is significant. If the minister launches new programmes such as ‘incentives for success’, we will enhance the quality of our services and increase the number of small family hotels. In addition, there are ample opportunities to get funding through nonrepayable EU funds. You visited the International Luxury Travel Market in Cannes. What is its principal objective? The fair provides guidelines on methods for prolonging the tourism season. Following the ten day Cannes fair, I am convinced that Croatia has been identified as an attractive and interesting destination in the luxury travel area. Croatia needs to at least partially focus on luxury services if solely in one area whilst the prices of such services must definitely remain stagnant. Nevertheless, developing quality is not in dispute.
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INVESTMENT IN KNOWLEDGE
30% of people with high education by 2020 Study and work will have to be more accessible to adults which will require reforms of colleges offering part-time studies Jasminka Filipas he goal of Croatian society is education and science on the road to the economic and social progress of Croatia, pointed out the Minister of Science, Education and Sports, Željko Jovanović, at the Microsoft Conference Competitive Croatia through Knowledge and Innovation. Jovanović noted that the goal of the European Union is to have 40% of people with high education by 2020, and the plan for Croatia is to increase the present 18% level to at least 30%. This will be a difficult task
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if current adult population is not included in the percentage of higher educated people. According to the Minister, in addition to promoting life-long education, study with work will have to be more accessible to adults which will require reforms of colleges offering part-time studies. Croatia requires two million employed people The presentation confirmed the earlier announcement from the Minister of Labour and Pension System, Mirando Mrsić, on creating a labour pool in co-operation with the Ministry of Science and
Education. Croatia must have two million employed people, and currently only the number of unemployed is increasing. Therefore, in addition to higher pensions, in the budget for this year only funds intended for active employment measures will be increased (by 30%). The largest share of this will be spent on additional education and professional requalification for the real needs of the labour market. Director of Microsoft Hrvatska. However, in order to achieve that, a national education strategy must be adopted which will identify skills for future professions.
To tackle the many challenges, in the near future we will have to secure a high percentage of highly-educated work force that must be creative, innovative and ambitious, evaluated Vidaković. . He stressed the recent success of Apptenders, a team young information scientists who have recently received an award from Bill Gates (Microsoft), as one of four best teams in the world. They created a computer programme for physiotherapists working with children suffering from cerebral paralysis. The programme is now used in two Croatian and two foreign hospitals.
BOROVO
CSC E-STUDENT
Only natural materials
Preparing students for the labour market
While many cannot wait the end of winter, Borovo management and designers are already prepared for the next. Recently they presented their autumn/winter footwear collection 2012/2013. With 720 designs of leather footwear and around 60 models of rubber footwear, Borovo is prepared for more ruthless market competition. Almost 300 styles of leather footwear were presented to the public for the first time and will be available on both Croatian and foreign markets next winter. In the Borovo – Leather Footwear Showroom in Vukovar, men’s collection of leather fashion footwear (Patrik) made of natural top quality material were exhibited in addition to ladies and men’s casual footwear (San Marco, City and Confort) as well as Relaks – a line of men’s footwear for active people. New models of rubber boots were also presented, in addition to other rubber footwear and the popular Startas shoes.
Over 700 models of the latest collection are the result of the creative work of Borovo designers and technologists who use state-of-the-art technology for product development. However, as opposed to other examples globally, Borovo footwear is not made of materials produced in laboratories. “We aim to produce footwear made of natural materials. Furthermore, this is the best sign of respect for our customers”, said Borovo CEO, Mirko Ćavara. According to Ivica Levicki, chief creator at the Borovo leather footwear factory, it is difficult to identify what customers like or want without being constantly present on the market. Moreover, the chief evaluator of our fashion trends is the trade network which is the best indicator of customer wishes. This collection is mainly directed to what we refer to as “urban line”, said Levicki. (S.S.)
Case Study Competition has been held for the eighth year: this is a project of the eSTUDENT student association whose goal is to connect well-known companies and top students so they may apply their university education in practice. This year 15 companies offered students 16 business cases that demanded creativity, ambition and a serious approach to the task. Furthermore, participating companies often use student solutions. “The project was very useful to us. We learned how to think creatively and work in a team, trying to be very detailed in every
segment of the project development. We aimed to be different and distinguishable from the competition. We won because we were different. We developed our idea as was intended for realisation and we used tools like Photoshop.”, said Denis Bura, team leader of the competition winners, to the students. This year, participating companies were ABB, Basler Insurance Zagreb, Cemex, Erste Steiermärkische Bank, Holcim, Ina, Nestlé, Nokia, Nova TV, Printera Grupa, Privredna banka Zagreb, Styria, Tele 2, Zagrebačka banka and Zagrebačka pivovara. The business case themes vary from sector to sector. The project was originally intended for students at the Faculty of Economy in Zagreb. However, during the past two years it has become open to all students at Croatian universities and has been recognised as excellent preparation for the labour market. (A.Š.)
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Privredni vjesnik Year V No 0189
CROATIAN FOREIGN CURRENCY MARKET Currency
AUD CAD JPY CHF GBP USD EUR Source: HNB
Kuna exchange mid-rate
EUR
7.59
6,158061 5,788587 7,011444 6,275051 9,095654 5,712087 7,563946 WEEK MARCH 3, 2012
::: news
USD
5.72
28.2.
29.2.
1.3.
2.3.
6.30
7.58
5.70
6.29
7.57
5.68
6.28
7.56
5.66
6.27
7.55
5.64
6.26
7.54 27.2.
CHF
5.62 27.2.
28.2.
29.2.
1.3.
2.3.
6.25 27.2.
28.2.
29.2.
1.3.
2.3.
STATE DEBT CONSOLIDATION
Hypo Bank and HBOR cooperation Hypo Alpe-Adria-Bank and the Croatian Bank for Reconstruction and Development (HBOR) are continuing their co-operation on two new loan programmes: Production Loan Programme and Loan Programme for EU funded projects IPA MSP Deed of Donation, with convenience loans at 4% and 2% interest. The principal objective of the Production Loan Programme during the economic crisis is to assist producers, enhance their competitiveness and boost liquidity. The Loan Programme for EU funded projects IPA MSP Deed of Donation has been intended for non-repayable funds programme from pre-accession assistance IPA IIIC – Assistance for developing the competitiveness of small and medium sized entrepreneurs in Croatia. New mobile banking service The Croatian Postal Bank has introduced a mobile banking service – HPB mBanking, continuing its development of banking services based on state-ofthe-art technology. The application is available for all popular mobile platforms, as well as for all Croatian mobile operator networks. Laguna Novigrad share buyback Laguna Novigrad, a company managing hotels and camps, has reportedly repurchased 4,361 of its shares, which is 0.02% of the original capital of the company. Currently, Laguna Novigrad holds 1,334,944 shares, 8.56% of the original capital. The shares have been repurchased at a price of €1.37, according to the information provided by the Zagreb Stock Exchange.
€20.5 BILLION DEBT A ccording to latest data provided by the Ministry of Finance, overall consolidated state debt at the end of October 2011, comprising of central state debt, extra-budgetary aspects and municipal debt, stood at €20.5 billion, 11.4% up over the end of 2010. The soaring sovereign debt was primarily due to an overall increase in central state debt, and primarily its internal components. Central state debt stood at €19.28 billion, up €2 billion over the end of 2010. Extra-budgetary funds saw small growth, whilst munici-
pal debt reduced by €14.3 million compared with 2010. At the end of October 2011, total state guarantees stood at €6.36 billion, 6.5% up over the end of 2010. According to RBA analysts estimates the share of sovereign debt in GDP stood at around 45% of GDP (around 59% of GDP with guarantees) at the end of 2011. There is a considerably higher need for refinancing throughout this year. Local bonds will mature in May 2012 with a value of €500 million. In addition, according to issued treasury records, liabilities currently exceed €652 million.
Moreover, the Ministry of Finance has announced its appearance on foreign capital markets, which would positively affect the €/HRK exchange rate. RBA analysts anticipate further growth in public debt throughout 2012, due to high financing needs of the state. Public debt could exceed 50% of GDP, in the case that some guarantees are activated (standing at over 60% if total guarantees are considered). A reduction of the country credit rating would be an additional blow under such circumstances, contributing to a further increase in financing costs. (V.A.)
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WE PRESENT 7
MEDITERRA NATURA, ZAGREB
YES I DU, DUBROVNIK
Joint business activities add value Powerful link-up between an association and a company
Promoting the unusual he company Mediterra Natura is involved in the export of Croatian and regional wines and related food products (with Croatian producers accounting for over 90%). The Association Mediterra is currently made up of 70 of the most prominent and regional members - wine makers and related producers - and is the leading regional wine association. A partnership model between the company and the association is extremely interesting. According to Domagoj Nobilo, Director of Mediterra Natura and Secretary of the Association, members of Mediterra are permitted the marketing of their products, irrespective of the fact that presentations, wine tasting, trips abroad, catalogue design and other expenses exceed annual membership fees and are entirely covered by the Association. “On the other hand, in the case where the association identifies an appropriate foreign purchaser, its member is obliged to export through Mediterra Natura, he stated. This model of joint business activity between an association and a company, with minimum initial investment from members has been praised by wine makers and related food producers such as olive producers, pumpkin oil producers, as well as producers of cheese, kulen, pršut, fish and sea salt. “Consequently, the Association has been able to attract the confidence of wine makers and
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encompass a significant number of members”, pointed out Nobilo. Partially satisfactory The founders of the Association analysed the unsatisfactory export results of local wine makers and related food producers. Subsequently, they became aware
Powerful marketing messages as a base for regional export growth that powerful marketing as a promoter to develop local exports has been missing. “Nevertheless, Mediterra does not rely merely on the marketing of products, as it also places particular emphasis on product sales and success in foreign markets. Hence, in case our product has not been sold, irrespective of its satisfactory presentation, we are merely partially satisfied”, emphasised Nobilo, adding that the entire story also has a regional touch. “We have also adopted a regional approach, based on feedback provided by foreign distributors and partners. Significant demand has also been identified in foreign market for specific wines or specific products from other regional producers. Consequently, some regional members have exported to the demanding Japanese market for the first time with the assistance of Mediterra”, concluded Nobilo. (B.O.)
Newlyweds are offered full service, from selecting invitations or rings to pet sitting and renting planes for their honeymoon ubrovnik has always been an inspiration for painters, poets, writers and photographers, and recently it has inspired a very successful business story. Dubrovnik as a wedding destination offered nothing new to newlyweds except for romantic scenery, which inspired Danijela Milivojević and Martina Pavleković to take matters into their own hands and add new ideas to its mesmerising locations. Thus the weddingplanning agency, YES I DU, was created. It offers newlyweds an all-inclusive service in helping select invitations and rings, organise pet sitting and rent private planes that will take the newlywed couple on honeymoon. Since its establishment in 2010, they say they have received a variety of requests. On one occasion they hired a well-known designer to create bows for the dogs that participated in the ceremony. They have also organised paragliding and windsurfing weddings. The young entrepreneurs admit they enjoy receiving such requests since they are creative and test the limits of their ability. Unique love story Both originate from Dubrovnik, so it is no surprise they incorporated its name into the name of the agency. However, their activities are not limited to Dubrovnik. They can organise weddings wherever newlyweds wish, keeping the focus on this Adriatic jew-
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el, Zagreb, islands and national parks. Newlyweds can experience the most important day of their lives on top of a lighthouse, high in the sky in a balloon or even under water. YES I DU is the result of our aspiration to create something new and escape the corporate world in which we both worked. We came up with the idea years before its realisation, and were guided by our goal to help newlyweds tell their love story in their own unique way. Both of us have developed our creative potential in the agency. We think about new offers almost every day, says Martina Pavleković. Most clients are foreigners, arriving from England, Ireland, Germany, Switzerland and the Czech Republic. They have started to receive more requests from local couples who seem to find it more difficult to relax and leave it to others to organise the ceremony.
Our clients are mainly foreign although requests from Croatia are increasing Croatians are more demanding when it comes to organising their weddings. However, we are happy Croatia has slowly started to keep up with global trends and that more couples decide to use the agency services, say the owners. (A.Š.)
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Privredni vjesnik Year V No 0189
PlayKontrol
Copyright in the “cloud” The company Informacija has developed a technology solution enabling comprehensive following of media releases on radio and TV Boris Odorčić he Croatian software company Informacija has developed PlayKontrol, a state-of-the-art technology solution which enables comprehensive following of media releases on radio and TV. It is able to identify with 100% accuracy individual audio files for which the system has been instructed to search. It can then record the time and the radio station that transmitted that audio file and provide a detailed report. Hence, authors and singers can be provided with detailed reports on the number of transmissions of specific video or song. In addition, they can compare independent data with official reports received from other sources, such as agencies dealing with copyright payment.
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Easy monitoring Authorised regulatory agencies using PlayKontrol can easily find whether any electronic
media comply with regulations on content-to-advertisement ratio throughout the programme. Simultaneously, advertisers are provided with an insight into
the marketing presence of competition on specific radio stations or a selected region and are consequently able to adapt and launch their advertising
campaigns more successfully. There is no need for additional software, since PlayKontrol is entirely on a “cloud” platform and users need to be provided only with an email address. The entire project has been developed by Croatian software experts. Nevertheless, there was a global team of programmers working on the development of the comprehensive solution. Currently, PlayKontrol testing is in place prior to its commercialisation in the near future, as has been announced by Kursor komunikacije. Informacija worked on PlayKontrol for over two years and has also provided many successful multimedia system projects, as well as other projects for following and analysis of media releases and computer data processing. The system is a continuation of other solutions provided by the company for following media releases in electronic media and the recording of TV programmes.
::: news Končar purchasing shipyards The company Jadranska ulaganja, owned by the Končar group, will purchase the shipyards of Brodotrogir and the Rijeka-based 3.maj and, under certain conditions, the Kraljevica shipyard. Danko Končar has pointed out that he will purchase the Rijekabased 3.maj, implying solely the shipyard itself, without its subsidiaries. On the other hand, the Kraljevica shipyard needs to tackle the issue of payment with French clients. In addition, he expressed his intentions to cede a part of his ownership stake in the shipyards to the workforce. INA withdrawing from Syria In accordance with a government decision and amidst the current situation in Syria, Ina cannot proceed with its business activities in that country, due to force majeure. Consequently, Ina has
informed the Syrian national oil company General Petroleum Company (GPC) on its temporary termination of business activities and declared force majeure. This is a contract clause, entitling a party to interrupt or terminate business activities if some unforeseen event, such as flood, earthquake or war beyond the control of that party prevents it from performing its obligations under the contract. Food and drink industry catalogue The German-Croatian Industrial & Trade Chamber has is-
sued a Catalogue of Croatian Food & Drink Industry in order to enhance exports of Croatian food and beverage products. The catalogue comprises a list of the most important food and beverage producers, as well as a brief overview of the current situation and potential of the Croatian food industry which could provide the European market with top quality local products. Germany is a huge and strategically important market for Croatian food and beverage producers and will gain in importance following Croatian EU accession.
meeting on the current situation and current issues in the Croatian railways. Jasmin Krizmanić, Assistant Minister of Maritime Affairs, Transport and Infrastructure, emphasised his expectations from the new board regarding plans on restructuring and operations, with particular focus on
Croatian Railways (HŽ) adaptation Trade union representatives have pointed out the seriousness of the situation on the railways, particularly regarding production and maintenance of rail vehicles, as well as investment into infrastructure, at a recently held
employees. He pointed out the fact that the Croatian Railways system needs to be adapted to future market conditions, primarily through a rationalisation of its business activities, when, following EU accession, the Croatian market opens to European rail operators.